Good Morning and welcome to 2022. As expected, Macau 2021 gross gaming revenue fell short of government budget expectations made early in the year, reaching only 30 percent of pre-pandemic levels. Looking ahead, the industry and the Macau government have pegged 2022 to see between $16 to $19 billion in GGR, though it’s yet to be seen whether the rise of the Omicron strain will impact the final result.
What you need to know
- Metro Manila is raising its Covid-19 alert status to level 3 from January 3 to January 15, meaning that casinos in the city will be required to close during the period.
- Macau health authorities on Thursday have announced lengthened quarantine-on-arrival requirements for visitors coming from high-risk pandemic countries, including Philippines, India and the United States, among others.
- Genting Hong Kong has warned of a potential liquidity crunch as a creditor has failed to provide agreed funding under a backstop facility.
- U.S. Centers for Disease Control and Prevention (CDC) has advised people against going on cruises regardless of vaccination status, raising its travel health notice level for cruises to its highest level.
The year ahead
The convergence between land-based and online gaming will continue apace next year, Joe Pisano, CEO of Jade Entertainment and Gaming Technologies predicts. This will likely lead to more consolidation.
On the radar
- Rich Goldman terminated profit-share agreement for VIP room at Solaire.
- Vietnam has introduced a decree aimed at regulating EGM play.
- The 13 parent said no accord reached yet on potential financial restructuring.
- Okada Manila U.S. listing no later than June, Asiabest offer to proceed.
- RHB expects Genting and Genting Malaysia to return to profitability in 2022.
What the papers say
- Beijing launches scheme attracting foreign investors to Macau.
- Johor police bust online gaming syndicate, makes 12 arrests.
- Kangwon Land to maintain restricted opening hours until Jan. 16th.
BY THE NUMB3RS
Continued recovery from the Covid-19 pandemic saw Macau casino GGR rise 43.7 percent year-on-year in 2021, though the number is still less than a third of pre-pandemic GGR of 2019. According to data from the Gaming Inspection and Coordination Bureau, December 2021 GGR came in at MOP7.96 billion ($991.2 million), rising only 1.8 percent from the prior-year period.
- GLP listed in Voyage Magazine’s “Best Newly Opened Hotel”
- MGM and Sands support responsible gaming initiatives in Macau
- SJM announces annual living subsidy for employees