To align with the revitalization project for Inner Harbor Pier No. 16, the government has approved a modification to the land grant for Ponte 16, which is now set to move closer to the construction of the Floating Casino.
The land area has been adjusted to two plots totaling approximately 18,000 square meters, with a land usage period of 36 months.
Previously, Ponte 16 was granted a land area of 23,066 square meters. The government has now approved a reduction, with the two new plots totaling 18,641 square meters, in exchange for an additional land premium of MOP459 million ($57.3 million).
The land currently hosts the Ponte 16 hotel and entertainment facilities. One of the two plots, measuring 9,424 square meters, will retain the existing hotel, while the other, measuring 9,217 square meters, will be developed into a commercial building and plaza. The project will also include the floating casino Macau Palace, with a built-up area of 2,084 square meters, as well as the renovation of Pier No. 14.
As reported earlier by AGB, Macau gaming operator SJM Holdings has projected that the construction phase will take nearly two years, meaning the revitalization plan is expected to be completed before 2026.
Ponte 16 is a joint venture between SJM Holdings and Hong Kong-listed Success Universe Group, with the casino on the property operating as a satellite casino linked to the operator’s concession.
Success Universe previously revealed that the expansion plans could cost over HKD100 million ($12.8 million).
The only current floating casino in Macau is the Macau Palace, a barge casino that was previously moored next to the Macau Ferry Terminal and operated by STDM, the parent company of SJM.
The casino operated from 1995 to 2007 before being relocated to a segment of the Inner Harbor near Fai Chi Kei.
Aside from being used as a filming location and for other promotional purposes, the former floating casino has been derelict since its decommissioning.
LET Group Holdings is facing challenges after two independent non-executive directors resigned, resulting in non-compliance with Hong Kong Stock Exchange (HKEX) rules.
According to a filing on Tuesday, Tou Kin Chuen and Lo Wai Tung John have resigned as independent non-executive directors, effective 5th November 2024. They stated that they felt ‘unable to make a meaningful contribution’ toward helping the company resume the trading of its shares on the Main Board of the Stock Exchange of Hong Kong Limited.
This marks the second time these directors have resigned from the board.
In May of this year, two individuals who had resigned in January as independent non-executive directors—amid a mass exodus from the board—returned as non-executive directors.
Their initial resignation was prompted by their “disapproval” of a decision by a company associated with LET Group to sell its stake in a Russian casino license.
Tou Kin Chuen had served on the board since April 2012, while Lo Wai Tung John had been a director since October 2012.
The company is actively seeking candidates to fill these critical roles to restore compliance and resume trading activities. Meanwhile, the board committees have been left with minimal representation, increasing the urgency for swift appointments.
The firm’s stock remains suspended from the Hong Kong Stock Exchange.
The Philippines experienced a robust rise in tourist arrivals from January to October 2024, welcoming 4.87 million visitors, a 9.76 percent increase from the same period last year.
The country’s Department of Tourism has set a target of 7.7 million international visitor arrivals in 2024, aiming to surpass the 5.45 million recorded last year.
South Korea topped the list of source countries in the period covered, accounting for 1.31 million arrivals, which constituted 26.9 percent of the total foreign visitors. This was an 11.4 percent increase from the previous year, solidifying South Korea’s position as the Philippines’ most significant tourism market.
The United States followed as the second largest source, contributing 764,124 visitors—a 15.6 percent share—showing a smaller, yet steady, growth of 2.9 percent.
Japan emerged as a major growth market, with a 30 percent year-over-year increase, bringing in 321,913 tourists. China also demonstrated a substantial recovery, sending 280,301 visitors, which marked a 25.4 percent increase from last year. Australia rounded out the top five with 208,727 arrivals, a small growth of 0.66 percent.
Southeast Asia: A Growing Segment
In Southeast Asia, Singapore and Malaysia remained key sources of visitors. Singapore contributed 128,812 arrivals, up by 7.67 percent, while Malaysia saw a 1.6 percent rise with 80,892 visitors. These numbers reflect the Philippines’ strengthening position as a destination within the ASEAN region, aided by proximity and improved air links.
European and Middle Eastern markets also showed positive trends. Canada, while maintaining its rank as the sixth-largest source, brought in 177,571 visitors. The United Kingdom followed with 128,660 visitors, and Germany recorded 62,864, representing a growth rate of 8.3 percent.
Notably, tourist arrivals from France increased by 16.2 percent to reach 48,617. Meanwhile, India, the top source of tourists from South Asia, saw a 13.88 percent increase with 66,622 visitors. Additionally, arrivals from the United Arab Emirates rose by 23.73 percent, contributing 33,717 tourists.
The report also highlighted that foreign tourists made up a staggering 91.93 percent of total visitors, while Overseas Filipinos accounted for 8.07 percent. The Overseas Filipino segment showed a growth rate of 6.96 percent, reflecting increased travel interest among Filipinos residing abroad.
Good morning. Results season is in full swing, with Melco the latest to boast about its offerings. Heady upticks in Macau are boosting the company’s revenue, helping pad out its investments further abroad. Both gaming and non-gaming performed well, and while some regional conflicts have affected visitation, the group is confident in the ongoing developments. Further in Macau, Wynn has seen a fall in non-gaming, as its hotel and retail come under fire from heady competition in 3Q24.
Melco managed to turn around its outlook for the third quarter, compared to last year, boosting its income to nearly $140 million and EBITDA to $322 million, amongst heady results in Macau, even as revenues failed to meet expectations in Manila. Looking further abroad, the operator is beginning to see returns, as its Cyprus project continues to ramp up and it looks to more sunny pastures.
Asia is the most populated continent on the planet and Football is the No. 1 sport in most countries. The World Cup qualifying matches are traditionally watched by billions of fans in the region, but FIFA has decided to reward Asia with a significant representation at the tournament only now.
Altenar, a leading sportsbook provider is bringing its global expertise to Asia, looking to expand its operations. Since 2011, Altenar has powered hundreds of online sports betting sites worldwide and is a major B2B provider in Europe and Latin America licensed markets.
In a bid to attract more Southeast Asian tourists, the Macau Government Tourism Office (MGTO) has partnered with tourism authorities from Hong Kong and Guangdong to produce a travelogue entitled “Hashtag Travelog” aimed at promoting the Greater Bay Area (GBA) as a top regional destination.
The TV program, titled Hashtag Travelog, will air later this year and is specifically designed to enhance the region’s appeal and visibility in international markets, particularly in Southeast Asia.
According to the press release from the MGTO, the show – which was recently filmed across multiple locations, features a host of popular personalities. Korean boy band CIX visited both Macau and Hong Kong as part of their travel experience, while Malaysian entertainers Danny Koo and Jordan Sen joined the production in Guangdong’s Guangzhou and Jiangmen cities.
The collaboration highlights the cross-border tourism appeal of the GBA, underscoring the region’s potential as a multi-destination hub.
The first episode is scheduled for release on December 9th, 2024, and will be broadcast on tvN Asia, a channel that reaches more than 12 million households across eight countries and regions, including Singapore, Malaysia, Indonesia, the Philippines, Myanmar, the Maldives, Hong Kong, and Taiwan. Additionally, the program will be available in Thailand through TrueID and on the Viu OTT platform, expanding its reach across Southeast Asia.
This strategic collaboration between the tourism offices of Macau, Hong Kong, and Guangdong is part of a broader effort to boost the region’s tourism brand and strengthen its position in Southeast Asia, one of the fastest-growing markets for international travel.
Strong growth in Southeast Asian tourism to Macau
The release of Hashtag Travelog coincides with strong growth in Macau’s international tourism, particularly from Southeast Asia.
In the first three quarters of 2024, international visitor numbers surged 95.1 percent year-on-year, reaching 1,677,550, or 70.7 percent of pre-pandemic levels in 2019.
Macau visitor arrivals 2024 vs 2019
Among Southeast Asian markets, Macau saw a significant growth year-on-year. Visitors from the Philippines rose 75.6 percent to 345,537; Indonesia up 33.6 percent to 127,861; Thailand up 70.6 percent to 95,108; and Singapore up 61.6 percent to 74,156. Malaysia saw the largest increase, with visitor numbers soaring 136.4 percent to 117,739.
Macau visitor arrivals YOY 2024
Macau also saw notable growth from South and Northeast Asia, with visitors from India up 133.6 percent, and from South Korea and Japan up 207 percent and 102.6 percent, respectively.
PH Resorts Group Holdings Inc. (PHR) has reported that Ms. Ma. Angela E. Ignacio has resigned from her position as an independent director.
The announcement, filed with the Securities and Exchange Commission (SEC) of the Philippines on November 5th, 2024, reflects Ignacio’s appointment as Undersecretary within the Office of the Special Assistant to the President for Investment and Economic Affairs. The shift marks a significant change in leadership for PHR, as Ignacio takes on a government role aimed at bolstering investment and economic strategies.
The company, headquartered in Bonifacio Global City, Taguig, noted that Ignacio’s departure comes amid a period of active involvement in several high-profile projects across the Philippines.
PH Resorts, under the Udenna Group umbrella, focuses on luxury resort and casino developments, notably the Emerald Bay Resort in Cebu and Clark Resort in Pampanga. These initiatives align with the broader strategy to support the country’s tourism-driven economic recovery, attracting foreign and local tourists alike.
While Ignacio’s resignation leaves a gap in PHR’s board composition, the company is expected to continue its ambitious project portfolio. PHR remains publicly traded, with over 7 billion shares of common stock in circulation, showcasing investor confidence despite industry challenges.
Macau gaming operator Melco Resorts saw its operating revenues for the third quarter reach $1.18 billion, up some 16 percent from $1.02 billion for the same period in 3Q23.
The increase in total operating revenues was primarily attributable to improved performance in gaming segments and non-gaming operations, led by continued recovery in inbound tourism.
Operating income for the third quarter amounted to $138.6 million, compared with $94.7 million in the third quarter of 2023.
Meanwhile, Melco generated adjusted property EBITDA of $322.5 million in the third quarter of 2024, compared with $280.6 million in 3Q23.
Net income attributable to Melco for the third quarter of 2024 was $27.3 million, compared with a net loss of $16.3 million in the third quarter of 2023.
The net loss attributable to noncontrolling interests was $14.6 million and $20.5 million during the third quarters of 2024 and 2023, respectively, the majority of which related to the net loss attributable to Studio City and City of Dreams Mediterranean and Other.
City of Dreams Macau
For the quarter, total operating revenues at City of Dreams were $563.9 million, compared with $506.2 million in the third quarter of 2023. City of Dreams generated an adjusted EBITDA of $162.8 million in the third quarter of 2024, compared with $153.9 million in the third quarter of 2023.
Rolling chip volume was $3.3 billion for the third quarter of 2024 versus $4.43 billion in the third quarter of 2023. Mass market table games drop increased to $1.4 billion in the third quarter of 2024, compared with US$1.32 billion in the third quarter of 2023.
Studio City
For the quarter ended September 30, 2024, total operating revenues at Studio City were $364.7 million, compared with $277.7 million in the third quarter of 2023. Studio City generated an adjusted EBITDA of $92.8 million in the third quarter of 2024, compared with the adjusted EBITDA of $67.7 million in the third quarter of 2023. The year-over-year increase was primarily a result of better performance in all gaming segments and non-gaming operations.
Rolling chip volume was $494.8 million in the third quarter of 2024 versus $713.6 million in the third quarter of 2023, while mass market table games drop increased to $912.9 million in the third quarter of 2024, compared with $809.1 million in the third quarter of 2023.
City of Dreams Manila
For the quarter ended September 30th, total operating revenues at City of Dreams Manila were $118.9 million, down from $124.9 million in the third quarter of 2023. City of Dreams Manila generated an adjusted EBITDA of $45.9 million in the third quarter of 2024, compared with the adjusted EBITDA of $48.7 million in the same period of 2023. The year-on-year drop was primarily a result of softer performance in rolling chip and mass market table games segments, offset by better performance in the gaming machine segment.
The gaming machine handle for the third quarter of 2024 was $1.11 billion.
City of Dreams Mediterranean
Total operating revenues at City of Dreams Mediterranean and Other for the quarter were $64.4 million, compared with $53.4 million in the third quarter of 2023. City of Dreams Mediterranean and Other generated adjusted EBITDA of $15.1 million in the third quarter of 2024, compared to $7.2 million in the third quarter of 2023.
The yearly increase was primarily attributable to the operations ramp-up following the opening of City of Dreams Mediterranean in mid-2023, which led to ‘a better performance in the gaming machine segment and non-gaming operations’.
Rolling chip volume was $14.6 million for the third quarter of 2024 versus $3.9 million in the third quarter of 2023.
Mass market table games drop was $138.8 million in the third quarter of 2024, compared with $97.2 million in the third quarter of 2023.
Beyond Macau
Lawrence Ho, CEO, Melco Resorts
The group’s Chairman and Chief Executive Officer, Lawrence Ho, commented: “Our initiatives to activate areas throughout our properties and drive visitation are coming together.”
Looking beyond Macau, the executive notes “In Manila, despite added competition, City of Dreams’ property EBITDA increased sequentially. City of Dreams Mediterranean and our satellite casinos in Cyprus continue to face challenges due to the conflicts in the region but have had solid increases in property EBITDA quarter-to-quarter.”
NuxGame, a reliable betting and casino software provider, has announced a key new partnership with 7Mojos, a forward-thinking game developer specializing in live casino and slot content.
With the integration of the entire 7Mojos portfolio, NuxGame clients will gain access to an extensive range of live casino offerings and a diverse collection of high-quality slot games. The integration is designed to provide a seamless experience, combining live gaming, back-office management, and engaging content under one roof.
NuxGame offers an impressive selection of live casino features and slot games. The live casino features provide high-quality streaming and interactive elements that enhance the player experience, while the slot offerings are rich in themes, innovative mechanics, and engaging gameplay.
NuxGame continues to build a robust, innovative platform, and this partnership with 7Mojos reflects its ongoing strategy to align with companies that bring unique value to operators. Recent collaborations with TaDa Gaming, LuckyStreak and Gamzix have further bolstered NuxGame’s offering, improving casino experiences and boosting player engagement.
By adding 7Mojos’ dynamic portfolio, NuxGame is expanding its range of next-generation gaming experiences, solidifying its market position and offering even more exciting options to players around the world.
Daniel Heywood, CEO of NuxGame, commented: “This collaboration will expand our gaming portfolio, offering the operators a wider range of premium live casino and slot games, such as roulette, blackjack, and baccarat. We empower our operator partners to offer their players a more diverse and thrilling gaming experience. This will seriously drive player retention and acquisition.”
Stefan Enchev, Chief Commercial Officer at 7Mojos, added: “We are strengthening our network of partners and demonstrating the dedication to providing a wide range of products to players by joining forces with NuxGame. We are excited about the NuxGame opportunity and anticipate a fruitful relationship that will benefit both businesses.”
The Grand Lisboa Palace Resort Macau hosted the 2024 SJM Talent Development Program Graduation Ceremony on November 1, celebrating the completion of three career development programs led by SJM Resorts, S.A. (“SJM”) and honoring nearly 50 graduates.
These initiatives aim to provide invaluable internship and development opportunities across various disciplines, fostering a new generation of talent for the tourism industry.
The event was attended by distinguished guests including:
Mr. Wong Chi Hong, Director of Labour Affairs Bureau of the Macao SAR Government (“DSAL”);
Mr. Chan Un Tong, Deputy Director of DSAL;
Ms. Daisy Ho, Managing Director of SJM;
Ms. Angela Leong, Director of SJM and Chairman of the Staff Welfare Consultative Committee of SJM, along with other SJM executives.
Graduates from different programs received certificates from the distinguished guests, acknowledging their achievements.
Mr. Wong Chi Hong, Director of DSAL presents a certificate of appreciation to Ms. Daisy Ho, Managing Director of SJM.
Ms. Daisy Ho, Managing Director of SJM, remarked, “We extend our warm congratulations to all the graduates this year. Talent development is at the heart of our work at SJM, as we continue to support the SAR Government’s vision of ‘Building Macau through Talent Training’ by actively participating in the Labour Affairs Bureau’s ‘Employment + Training’ schemes. We are also grateful to have welcomed several graduates this year into the SJM family, where they can showcase their skills and excel in different roles, as they look to carve out a career in tourism.”
The ceremony recognized graduates who completed the “Career Experience 2024,” “SJM Culinary Career Development Program” and “SJM Excellence Hospitality Ambassador Program”, which are some of the training initiatives that highlight SJM’s unwavering commitment to nurturing young local talents across multiple disciplines.
In particular, the three-month “Career Experience 2024” provided opportunities in different departments, such as Brand Development and Marketing, Finance and Accounts, Food and Beverage, Facilities Management, and Hotel Operations, allowing participants to acquire essential work skills and experience in their respective fields while developing the work ethic and teamwork that would bode well for their future careers.
The 12-month “SJM Culinary Career Development Program” was specially designed for talents in the Food & Beverage industry while the 24-month “SJM Excellence Hospitality Ambassador Program” assisted talents interested in the hospitality industry by offering cross-departmental training and practical work experiences to develop comprehensive job knowledge and skills.
To date, close to 280 graduates have completed the above programs since some of their launch in 2020. Going forward, SJM will continue to uphold its mission of cultivating homegrown talent, fueling the sustainable growth of Macau in the long run, and promoting the diversified and robust development of the city’s economy by bringing new blood into the industry.
CreedRoomz, a leading live casino provider, has announced the launch of its innovative Aurum Roulette Game Show, offering a fresh, interactive experience to players worldwide.
The Aurum Roulette Game Show combines the classic excitement of roulette with a unique game show format featuring players’ favourite Aurum mode. Hosted by CreedRoomz’s professional presenters, the new format allows players to experience the thrill of live gaming in a more interactive and dynamic way.
Enhanced Gameplay with Aurum Multiplier Mechanics
Players can enjoy a more dynamic gameplay experience thanks to the updated Aurum Multiplier Mechanics. With increased volatility and higher average multipliers, the game caters to both high-risk players and those who prefer a more conservative approach. The engaging multipliers add excitement to every spin, promising a more rewarding session for all types of players.
Seamless User Experience on Mobile and Desktop
The Aurum Roulette Game Show offers a revamped and intuitive user interface (UI) and user experience (UX) across both mobile and desktop platforms. Designed to be visually appealing and easy to navigate, the game enhances user interaction and satisfaction, ensuring that players enjoy a seamless experience wherever they play.
Boosting Player Engagement
With its innovative mechanics and interactive format, the Aurum Roulette Game Show is poised to increase player engagement and retention across all platforms.
Arturs Fjodorovs, Game Product Manager at CreedRoomz, commented on the launch: “Aurum Roulette launch marks an important step in the development of show games, offering our partners a powerful platform to captivate and engage new players. As part of the exciting Aurum feature overhaul, now available on all roulette tables, this innovative enhancement is more dynamic, volatile, and user-friendly than ever. Early results are already proving its value, with impressive boosts in both player retention and turnover, driving growth for our partners.”
Stay tuned for more exciting updates from CreedRoomz, as we continue to innovate and deliver cutting-edge gaming experiences that captivate players and drive success for our partners.
