Citigroup noted that MGM's management is 'showing confidence in the market', MGM China's President and Chief Operating Officer Hubert Wang revealed that the company will double the headcount of its international sales and marketing team
India is viewed as one of the most promising markets in Asia for the skill-based online gambling industry and recent court rulings have helped cement the legality of the practice.
The Monetary Authority of Macao (AMCM), the financial regulator in Macau, has issued updated industry guidance on Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) controls tailored for gaming-related customers.
Amid the challenging circumstances, some junkets based in Macau have been gradually relocating their business operations, along with their players, to small-scale casinos in Southeast Asia. This information comes from the latest report on the Macau junket industry, which concludes that the ability of the junkets to withstand the current regulatory challenges and fully recover remains uncertain.
Junket promoters have been gradually relocating their business operations and their players to small-scale casinos in Southeast Asia after regulatory reforms transformed the gaming market in the Macau SAR, a new study reveals
Macau's draft bill on casino concessionaire and junket-issued credit for gambling reduces regulatory uncertainties, says a gaming expert.
The strategic and operational implications in light of the new gaming law will be felt much sooner, despite Macau’s economic diversification plan requiring some time to take shape, and the regulatory and industry-wide changes will gradually be compounded into substantial differences over the next decade and beyond, says a research report.
Felix Ng -
Macau will need to work harder to shake off its gaming-centric image in China, but the road will be long and capital-intensive, and may not be top of mind as the industry struggles through its third year of the pandemic.
Investment bank Citigroup notes Galaxy Macau Phase 3 has a "solid debut" of its premium mass room, recording a 52 percent higher average wager per player compared to pre-COVID levels.
Investment bank Citigroup said in a new research note that they maintain a bullish stance on Macau's gaming industry, anticipating Macau industry-wide EBITDA in 2Q23 to recover to 65 percent of the same period in 2019.