Sunday, May 5, 2024

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Macau yields $1.6B in GGR during 21 days of January: HSBC

Leading up to the Chinese New Year period, Macau’s casinos have recorded an increase in traffic, with HSBC noting some $1.6 billion in GGR in the first three weeks of January.

HSBC prefers Melco Resorts over LVS

HSBC has downgraded its Buy rating on Las Vegas Sands to a Hold and says it prefers Melco Resorts & Entertainment due to its position as a first cross-border destination and its positioning in premium mass.

Macau hotels fully booked for Labor Day, with prices 20% below CNY rates

UBS reports that Macau hotel prices for mainland China’s five-day Labor Day holiday season are 20 percent below this year's Chinese New Year (CNY) rates but bookings are high.

Macau operators acknowledge ‘intensifying competition’ but deem it ‘manageable’

The gaming operators Galaxy Entertainment and MGM China consider that the industry’s competition is 'intensifying' but remains ‘manageable.'

Singapore’s tourism growth to slow amid elevating competition: Insider 

Singapore is expected to experience a slowdown in tourism and gaming in 2024 due to escalating competition in the region, says Tradeview Capital Sdn Bhd CEO Ng Zhu Hann.

Daily Asia Gaming eBrief: Tigre de Cristal sale allows focus on Philippines

The LET Group's move to sell its stake in Tigre de Cristal means that the group can still get some return on its investment, as conflict and sanctions drive companies, and punters, out of Russia.

Asia investors still eye Macau gaming bonds, despite recovery playing out

Macau gaming bonds remain a top choice for Asia credit investors, despite the fact that the recovery has already largely taken place, according to HSBC. 

Galaxy emphasizes its decision to “not re-enter” the Philippines’ Boracay for resort development

Macau gaming concessionaire Galaxy Entertainment Group (GEG) issued a statement on Monday to clarify that the firm is "not considering re-entering Boracay of the Philippines to develop a resort."

Digitain appoints Martin Martirosyan as Deputy CEO

Sportsbook and casino platform provider Digitain has announced that it has appointed Martin Martirosyan as its Deputy CEO.

More Covid setbacks for Asian jurisdictions

It’s not been a good week for anyone hoping for a faster opening of travel markets around Asia, with the Philippines, Cambodia and Hong Kong all reporting Covid setbacks.