Good Morning. As Thailand moves closer to its elections, political roadblocks are unlikely to derail the nation’s legalized gambling aspirations, with solid incentives and support for IRs, says expert Daniel Cheng. Macau’s Labor Day Golden Week figures surprised, with over 500k visitors to the city. But the gaming hub’s satellite casinos are suffering a slow demise. Meanwhile, Moody’s analysts predict a stronger return to pre-pandemic levels in Singapore and Malaysia than in Macau and Cambodia.
What you need to know
- Thailand’s moves to legalize gambling are unlikely to see any major political roadblocks, with strong incentives for gov’t and operators to push forward.
- Labour Day Golden Week figures in Macau surprised the industry, as the city welcomed over 500k tourists and saw strong hotel occupancy.
- Moody’s analysts are predicting that Macau and Cambodia will rise to 50 percent of FY19 levels this year, as Singapore and Malaysia top 90 percent.
- Macau’s satellite casinos are no longer seen as a good investment, slowly winding down as operators struggle to find clientele.
On the radar
- Foreigner-only S.Korea casinos see strong upticks in April gaming revenue.
- PH Resorts in ‘strategic investor discussions’ over Emerald Bay IR.
- Macau operators asked to strengthen security after casino brawl.
- International Entertainment reducing value of issued shares by 99 percent.
- Suspicious sports betting alerts down, Asia’s linked to cricket and football.
- MGM: next 3 months “hard as it’s ever going to get”, 2030 IR opening.
AGB Intelligence
THAILAND
All stars are aligning for Asia’s next big casino hub: Thailand
Senior Gaming Executive Daniel Cheng points out that all of the conditions are coming together for Thailand to progress with its idea to open integrated resorts in the nation, as well as other forms of gambling. The move appears to have both public and bipartisan support, unlikely to meet a similar fate as Japan. Authorities have already outlined possible investment tranches and locations, some more advantageous than others.
Industry Updates
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