Good morning. The phoenix rises! Macau’s February GGR topped $1.27 billion, leading the way for a possible FY23 GGR of $18.5 billion, says a top gaming expert. That’s good news for Melco, as its Macau operations caused a doubling of its yearly loss in 4Q22 and an annual loss of $930 million. Meanwhile, gaming giant Light & Wonder continued to break records, seeing strong revenue and EBITDA growth in both 4Q22 and FY22, despite recording losses. And the Asia Gaming Awards is back – taking place at the ASEAN Gaming Summit on March 21st!
What you need to know
- Macau FY23 GGR could reach $18.5 billion, after February’s $1.27 billion GGR, notes a top gaming scholar.
- Melco doubles yearly loss in 4Q22 and ups annual loss to $930 million as its Macau operations drag down results.
- Light & Wonder records strong revenue and EBITDA increases in 4Q22 and FY22, but still registers losses.
- The Asia Gaming Awards returns on March 21st, taking place at Asia’s premier gaming conference – the ASEAN Gaming Summit, in Manila.
On the radar
- Macau GGR at third-highest level since Jan. 2020, reaching $1.27 billion.
- Donaco pending result of appeal on Vietnam tax penalty.
- MGM Resorts appoints Emmy award-winning producer to its board.
- Okura Holdings revenue up 13.6% as pachinko hall customers return.
AGB Intelligence
MACAU GGR
Feb $1.27bln GGR paves way for FY23 $18.5bln, says scholar
Macau’s February gross gaming revenue continued to show Macau’s return to claim its gaming crown, with a top gaming scholar estimating FY23 GGR could reach $18.5 billion. While the figure is still just half of 2019 levels, the lifting of restrictions and increased travel are paving the way for operators to capitalize off their new pledged investments.
Industry Updates
- MGM Resorts and BetMGM introduce “MGM Riches”.
- Konami licenses facial recognition tech to Independent Gaming.
Meet at ASEAN 2023
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