Good morning. The post-COVID period may have just been the eye of the storm for the Macau gaming industry, as a new election is looming for the city’s top political role, and the candidate doesn’t appear to favor the gaming industry. Noting that operators have had a “large, negative impact” on the city, the former top judge running (likely unopposed) for office is preaching diversification away from an industry he deems as having seen “barbaric expansion”. Meanwhile, in Australia, The Star tries to hang on by the skin of its teeth, after the results of Bell Two mar the opening of Queen’s Wharf Brisbane.
What you need to know
- Macau’s new Chief Executive candidate has harsh words for the gaming industry, prompting a review of what ‘diversification’ will mean.
- New South Wales report maintains Sydney license suspension for The Star, despite the recent opening of Queen’s Wharf Brisbane.
On the radar
- Money laundering charges filed against ‘POGO mayor’ Alice Guo.
- Universal Entertainment announces resignation of former CEO ahead of ousting.
- Macau Legend continues losing streak in 1H24, despite uptick in Macau gaming.
- Macau GGR reaches $2.46 billion in August, up nearly 15 percent yearly.
- Experts address illegal wagering and gene doping at the Asian Racing Conference.
- Success Universe sees reversal into losses in 1H24.
- MGM China declares special dividend of $172M.
AGB Intelligence
MACAU
New Chief Executive lays bare ‘diversification’ necessity
Macau is facing yet another wave of uncertainty, after the new – and likely sole – candidate for Chief Executive has taken a hard line on the city’s gaming operators, noting that they have had a “large, negative impact” on the world’s gaming hub. Sam Hou Fai, a former top judge, is now expected to focus on pushing the city’s much-preached attempts for ‘diversification’, something mainland Chinese authorities have been mandating for some time, notes a top gaming association head.
Corporate Spotlight
1xBet: The most popular gambling games and slots in Asia
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