Macau

Macau's Chief Executive Ho Iat Seng says that his government is in talks with authorities in neighbouring Guangdong province on ways to improve mobility, such as mutual recognition of vaccination certificates.

Analysts at Bernstein are expecting a slow recovery of the in-person meetings and events industry, with visitation levels from this subset to return at 2023 at the earliest. 

Macau citizens and permanent residents will soon benefit from a US$999 handout in order to boost consumer spending as the SAR recovers from the pandemic.

Whilst first quarter GGR in 2021 still showed negative year-on-year growth, the truth is that the Macau gross gaming revenue recovery is well and truly underway. 

The Macau gross gambling revenue rose 16 percent in the second week of April from the prior week, but was still softer than expected, according to Bernstein Research.

Consensus estimates for Q1 earnings at Macau’s six operators may be too high, with corporate EBITDA likely to be lower than the prior quarter due to an uneven recovery and higher expenses, Morgan Stanley says.

Melco Resorts & Entertainment said its Studio City Phase 2 has been named winner of the ‘Regional Award, Asia’ at the BREEAM Awards, which recognize significant achievements in sustainable development. 

The University of Macau expects Macau’s GDP to grow by between 21.4 and 33.5 percent in 2021, should annual tourist numbers surge back to between 13.8 and 21.7 million. 

Melco Resorts & Entertainment’s Chief Sustainability Officer, Denise Chen, speaks with Asia Gaming Brief Managing Editor Sharon Singleton about some of the initiatives the group’s integrated resorts are taking to reduce their impact on the environment. She explains that what’s good for the planet can also pay off on the bottom line.

Moody’s Investors Service has completed a periodic review of Macau’s three U.S. operators, commenting that liquidity is relatively good and their long-term prospects are credit solid despite the hit from Covid.