Good morning. The sun is shining on the Philippines, with Newport World Resorts expecting 2023 to be a “bumper year”, as new offerings come online and both mass and international VIP expand. Macau’s March GGR came in at the highest since January 2020, but a scholar warns that visitor confidence is still lacking and non-gaming ROI is difficult to judge. Meanwhile, Moody’s estimates Macau’s GGR will reach 45 percent of 2019 levels, with US-linked operators having much to gain.
What you need to know
- Dennis Hudson, Sr. Director of Table Games at Newport World Resorts, says that the Philippines is back with a smile and can only grow further.
- Macau’s March GGR in at $1.57 billion, 50% of 2019 levels, but a scholar warns that visitors confidence is still lacking.
- Moody’s estimates Macau GGR will reach 45% of 2019 levels, with US-linked companies standing to benefit most.
On the radar
- Macau Legend narrows FY22 loss to $77.35 million.
- Aquis: Casino Canberra sale gains to go to shareholders, then wind-up.
- Ponte 16 contributes to $36.5 million FY22 loss for Success Universe.
- GBA tourists and multi-destination packages boost for Macau tourism.
- Only 30 percent of Macau flight connections restored.
AGB Intelligence
PHILIPPINES
Newport World Resorts’ Dennis Hudson: PH back with a smile
Newport World Resorts, and the Philippines overall, is back with a smile says Dennis Hudson, Senior Director of Table Games Operations at Newport World Resorts. A series of new investments, including new VIP facilities and luxury shopping are set to come online, with an expectation for a return to 2019 levels in the third quarter and a continual rise from there, even though less Chinese players are on the scene.
Industry Updates
- Melco Residency Concert Series debuted withPop Diva Joey Yung.
- SJM positively shaping the future of spa and wellness industry.
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