Wednesday, May 18, 2022

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Wynn Resorts to revamp Macau VIP rooms, develop land parcels

Wynn Resorts has revealed plans to revamp its former VIP rooms at its two Macau properties, whilst revealing that its holding three undeveloped land parcels to “expand our business considerably” in Macau.

Your Daily Asia Gaming eBrief: Lure of the China VIP

Star Entertainment CEO Matt Bekier’s testament this week has brought China’s VIP sector back into focus.

China VIP marketing a “dark art” that will return despite challenges

The global VIP business was in the spotlight again this week, with former Star Entertainment CEO Matt Bekier describing running the sector as being a “dark art.”

Macau mass GGR falls 11% in 1Q22, VIP flat

Macau’s casinos recorded a 10.9 percent fall in mass GGR in 1Q22 compared to the prior-year period, whilst VIP GGR nearly halved.

Emperor Entertainment to shutter satellite casino amid “gloomy” VIP outlook

Emperor Entertainment said it was shuttering its satellite casino in Macau due to the “gloomy” outlook for the high-end gaming segment.

Macau Golden Group terminates VIP business: Report

Macau Golden Group has become the latest junket operator to terminate its operations in Macau, a move which came into effect on March 30.

Okada Manila launches new VIP gaming space

Okada Manila said it has launched Perlas Club, a gaming space catering for its top-tier members.

Your Daily Asia Gaming eBrief: Mass to cover Junket VIP loss, by 2025, maybe

Last month, Macau’s casino concessionaires posted their results for the 2021 calendar year to varying degrees of optimism.

Macau’s mass to make up for lost VIP ground by 2025, but more work needed

Macau’s mass-market is expected to make up three-quarters of total GGR by 2025, though more rooms, longer stays, and more gambling expenditure per visitor will need to be achieved for further growth, according to analysts.

Melco 4Q21 Adjusted EBITDA almost doubles, but VIP downturn, Covid, crimps revenue

Melco Resorts & Entertainment said 4Q21 adjusted EBITDA almost doubled on tight cost controls, but revenue dipped due to a soft performance in the rolling chip segment and on Covid restrictions.