Thursday, November 7, 2024

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Macau VIP gaming share drops in 2Q24

VIP baccarat revenue generated by Macau casinos reached $1.65 billion in the second quarter of 2024, representing 23.6 percent of the total gross gaming revenue (GGR), a small decrease from the 25 percent share held by the VIP sector in the previous quarter.

China calls for tougher crackdown on cross-border gambling

China's Public Security Minister has called for a more robust crackdown on cross-border gambling in China.

Your Daily Asia Gaming eBrief: Vietnam operators shifting away from VIP, need more Asian mass

Gaming operators in Vietnam are aiming to rethink their business models, to shift away from VIP, as limitations by China have caused a reduction in players. While cozying up to Korean punters, operators are hard-pressed to get more mass or VIP from Southeast Asia, even as political changes cause speculation and delays for both current operators and those looking to enter the market.

Under the Scope: Vietnam shifts to Korean punters, aims to move away from VIP model

Vietnam’s gaming industry will continue to face headwinds as it aims to recover from COVID, with a foreigners-only VIP-centric model, challenged by restraints on tour groups coming in from China, high visitation but low spend by Indian tourists and political uncertainty causing delays and an uncertain investment environment.

Number of Macau junkets to grow as VIP gaming revenue improves: association head

After facing severe hardship, Macau's VIP segment is poised to attract new investors, potentially leading to a growth in the number of junket licensees.

Macau’s gaming operators actively soliciting junkets as VIP revenue rebounds: sources

According to Nelson Kot, the president of the Macau Comprehensive Social Research Association, Macau's gaming operators have been discussing actively with licensed junkets, aiming to boost the VIP revenue rebound.

Your Daily Asia Gaming eBrief: Beijing cooperating with POGO crackdown

Beijing is stepping up support on POGO’s illegal activity crackdown, China’s Ambassador to the Philippines Huang Xilian promised, grateful for the rescue of Chinese nationals.

Crown Resorts to begin VIP gamings in Sydney on August 8th

Crown Resorts will begin gaming operations in Sydney under a provisional license on August 8th, more than 18 months after the Barangaroo resort opened. 

Macau urges tourism diversification as China crackdown intensifies

Any lingering hope that Macau was exempt from China’s crackdown on its citizens crossing overseas to gamble has now been dashed, with the local government urging operators to look elsewhere for their clientele.

China visa crackdown may wipe 20% off Macau revenue: Credit Suisse

China’s crackdown on frequent gamblers to Macau could wipe as much as 20 percent off total industry gross gambling revenue, Credit Suisse analysts wrote.Â