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.
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.
- MGM Resorts and BetMGM introduce “MGM Riches”.
- Konami licenses facial recognition tech to Independent Gaming.
Meet at ASEAN 2023
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