Good morning. Macau is going through its worst Covid scare since the start of the pandemic and has reacted strongly in an attempt to mitigate the threat. Ben Lee of iGamiX Management & Consulting said no matter the result of the next few days’ testing, the “resulting uncertainty and fear and the suddenness of the measures will definitely bring home the risks to any potential visitors wanting to travel to Macau”.
What you need to know
- Macau Chief Executive Ho Iat Seng said there is no plan to close Macau’s casinos despite the four new Delta variant cases discovered on Tuesday.
- MGM Resorts has sold its stake in MGM Growth Properties in a transaction that will boost its available cash pile for future expansion to $11.6 billion.
- MGM China saw sequential improvement in 2Q21, though its recovery hasn’t come as far along as it has for Las Vegas.
- Wynn Macau president Ian Couglan expects the small cluster of Covid-19 cases currently in Macau to be under control within the next couple of weeks.
- Victoria’s state government will form a new gambling regulator following criticism of oversight during a Royal Commission inquiry into Crown Resorts.
- The Madras High Court has struck down a ban imposed by the Tamil Nadu govt on online games of skill, marking another key step for the industry.
On the radar
- Covid-19 measures cause 60% drop in Macau border crossings
- SG buys Sydney-based Lightning Box to boost digital profile
What the papers say
- Crown Perth paid for a WA’s casino regulator’s trip to Macau, says inquiry.
- Singapore casinos will perform better in 2H, but immediate prospects dull.
- Legislator repeats call for concession renewals to be delayed by two years
AGB Intelligence
Short-term outcome for the industry uncertain
Macau is undergoing its worst Covid scare since the beginning of the outbreak, with four new cases identified, parts of the city on lockdown and anyone entering or leaving by land requiring a 12-hour negative nucleic acid test result. Ben Lee, managing partner of iGamiX Management & Consulting, is in the city and has been witnessing Macau’s reaction and mitigation measures, and what impact these will have on its lifeblood.
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