Good morning. A dismal showing for Macau, as November GGR tallied just $374 million, leading it towards the worst yearly figure on record. Continual COVID outbreaks in mainland China cast a long shadow on whether a recovery is possible. In the Suncity junket case, a verdict has been set for January 18th. And in the US, VICI Properties continues its landlord dominance of the LV Strip, snapping up its remaining stake in MGM Grand and Mandalay Bay for $1.27 billion in cash and debt purchasing.
What you need to know
- VICI Properties continues its LVS Strip takeover, with full acquisition of MGM Grand and Mandalay Bay for $1.27 billion in cash and purchases of debt.
- Macau’s November GGR failed to impress, down to just $374 million, paving the way for the worst GGR year on record.
- Final verdict set in Alvin Chau and Suncity case for Jan. 18th, as junket boss pleads for the court to acquit colleagues, maintains innocence.
On the radar
- Mohegan SKorea Inspire resort: 15k arena to drive 4mln annual visitation.
- Wynn Resorts sells Boston casino for $1.7bln, rents back at $100mln/year.
- PH sovereign wealth fund, with PAGCOR funding, nears completion.
AGB Intelligence
MACAU
Macau on route for the worst GGR year on record
November gross gaming revenues in Macau totaled just $374 million, a 55 percent yearly drop and a 23 percent fall from October, leading the SAR towards its worst GGR year on record. Ongoing outbreaks in mainland China, and a small outbreak in the SAR, are hindering any chance of a recovery in December, as border entry and exit requirements fluctuate to deal with the changes.
Industry Updates
- ONE Championship teams up with 1xBET and Solaire for Manila return.
- VBET announced Best Online Casino Operator of the Year at SiGMA..
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