Good Morning. A top gaming analyst says that Sands China’s new governing figures are working to slash costs while still maintaining their loyal customer base, hoping to leverage its large mass market appeal to then support its non-gaming spend. Meanwhile, the SAR’s overall gross gaming revenue is expected to hit new heights in February, as the gold rush continues within the SAR, boosted by the Chinese New Year holiday, says the head of a major peninsular property.
What you need to know
- Sands China’s new management is focused on reducing costs and customer retention, says consultant Sudhir Kalé.
- Macau GGR expected to hit new post-COVID high in February due to sustained momentum: Hoffman Ma, deputy chairman of Success Universe.
On the radar
- Macau licensees see income tax exemption until 2027.
- AGTech flags a profit of $2.8 million in 2023.
- Hard Rock Hotel Singapore to close next month due to RWS’s expansion.
AGB Intelligence
MACAU
Expert: Sands China focusing on cost reduction
The new management at Sands China is focused on cutting down overall costs while also maintaining customers, notes gaming consultant Sudhir Kalé. Grant Chum, the new CEO of the company replaces Robert Goldstein, while also getting the role of President – as Wilfred Wong was elevated. The move is a positive for the company, leading to more hands-on leadership, notes the expert.
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Aruze Gaming Global moves beyond its roots, with management personally involved. The group bases itself in the US, Macau, the Philippines, Japan, Australia and South Africa, so on-the-ground teams can take decisive action quickly.
Corporate Spotlight
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Industry Updates
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Registration open for the ASEAN Gaming Summit 2024
Registrations for the 2024 ASEAN Gaming Summit, the calendar conference of excellence of the gaming industry in the region, are officially open. Scheduled from 19th to 21st March 2024, the Summit is the gateway to the Next-Gen of gaming in Asia.
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