Friday, April 16, 2021

Gaming focus, China policies constrain Macau credit rating

Macau's narrow economic base and its high concentration of tourists from China restrain the city's credit rating and have contributed to historically high levels of gross domestic product volatility, Fitch Ratings says.

Macau VIP constrained by supply issues in 21Q1

VIP GGR in Macau during the first quarter held at around 20 percent of pre-covid-19 levels according to a note from JP Morgan on Wednesday. 

Digital yuan has far-reaching implications for Macau gaming

Macau’s government finally confirmed on Tuesday that the adoption of a digital yuan is on the table in what’s likely to be a gamechanger for the industry and its junket operators.

Nagasaki IR bid gets top-level political patronage

Nagasaki’s IR licensing bid has now gained something that it never had before—a political patron at the very top of Japan’s government.

OTHER NEWS

Macau's tax revenue take from its gambling industry fell by 50 percent in Q1 to MOP9.1 billion ($1.14 billion), according to the Financial Services Bureau.
Las Vegas Sands has launched a multi-million dollar advertising campaign in an effort to convince lawmakers to legalise casinos in Texas.
Landing International said it has appointed Huang Wei as a non-executive director to oversee the group's theme park and hotel operations.
Bloomberry Resorts & Entertainment has pushed back the planned opening of its integrated resort in Quezon city to 2023 due to delays caused by Covid.
Only two out of eight casinos are currently open on Jeju island in South Korea, which saw revenue from its foreigner-only properties drop 60 percent last year.
Fitch Ratings has given a vote of confidence to the recovery in Macau, revising its outlook on the special administrative region to stable from negative.
Macau chief executive Ho Ian Seng has told lawmakers that there are currently no plans to relax restrictions on non-resident foreigners from entering Macau.
Casino Rio, a satellite casino under Galaxy Entertainment Group, has been accused of using pressure tactics to coerce a group of employees to resign in order to avoid severance pay. 
Macau's Tourist Price Index fell 15.16 percent year-on-year in the first quarter and was down 2.05 percent from the final quarter of last year, mainly due to a drop in hotel room rates.
Macau kicks off its "Stay, Dine and See Macau," initiative from Thursday, which offers subsidies to local residents to stay in hotels and enjoy group tours.
Despite Covid-mandated travel restrictions, the number of new hotels will continue to expand in 2021 with 820 hotel projects and 190,332 rooms due to go live in the Asia Pacific region.
Hong Leong Investment Bank Research has added its voice to analysts predicting a strong longer-term comeback for Genting Malaysia, upping its rating from a "hold" to a "buy."
Cambodia's capital Phnom Penh and neighbouring Takhmao will be placed under lockdown from two weeks from today to help curb the spread of Covid 19.
Macau's Chief Executive Ho Iat Seng has said the government will work closely with China's China's central bank on a feasibility study on adopting a digital yuan, which will help it to combat money laundering and tax evasion. 

INDUSTRY UPDATES

Melco Resorts & Entertainment said it ha become the first integrated resort operator in Macau and the Philippines to achieve the international third-party responsible gaming accreditation RG Check across all of its integrated resorts.
MGM recently held the “Seminar on Technology Application and Development of Green Buildings in China and Macau”. 
Pragmatic Play says its complete collection of Live Casino products have been made available on GGPoker’s online casino
Game developer Evoplay has announced the launch of its latest enthralling slot title, Epic Legends. Fully optimised for mobile-gaming and developed using the latest in tech, Epic Legends is set...
Zitro has been shortlisted twice for the prestigious Global Gaming Awards London 2021, to be held on June 28th, coinciding with Clarions ICE Connect event.
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. 
Norweign company EpiGuard’s innovative single patient isolation and transport system is now being pushed for use in the cruise industry. 
Wynn Resorts has announced a new COVID-19 vaccination and testing policy for its employees at Wynn Las Vegas. The policy gives employees the option of either completing a COVID-19 vaccination or obtaining weekly negative COVID-19 tests.
Pragmatic Play has launched Wild Booster, a classic themed, 3x5 video slot that contains all the symbols associated with the casino floor, with fruits, gems, lucky 7s and Diamonds filling the reels.
Pinnacle has partnered with DeckPrism Sports in a deal which will enable the online bookmaker to further enhance its in-play betting experience and take its betting product to the next level, using the latter’s proprietary models.

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