Good Morning. The knock-on effects of the pandemic continue to be seen, as yet another project has been delayed – this time The Star’s Queen’s Wharf Brisbane project. The multibillion-dollar IR and residential project is now only scheduled to open in April of next year, handing the embattled company yet another setback. And in Macau, the pivot to mass appears to be working, as mass visitor spend is up by some 40 percent, say analysts, with expectations gaming operators’ stocks could rebound on positive FY23 expectations.
What you need to know
- The Star announces that its Queen’s Wharf Brisbane project opening will be delayed until April of 2024.
- Analysts see a strong uptick in Macau mass visitor spend so far this year, up 40 percent in the first four months.
On the radar
- Grand Korea Leisure sees near-50% monthly fall in casino revenue.
- DFNN board reshuffle, Ricardo Banaag new President/CEO.
- Macau’s labor shortage eased in May, 3,544 new non-res workers.
- Air Macau increasing flight frequency to hotspots in July/August.
The Star has been dealt yet another setback, as it announced that it would be delaying the opening of its multibillion-dollar IR and residency project Queen’s Wharf Brisbane. Slated to open later this year, the company is now predicting a gradual opening starting in April of 2024. The company cited ‘pressures that other major infrastructure projects across Australia have encountered’.
- Wynn fully supports Macau‘s tourism mega roadshow in Thailand.
- BGaming: further Latam expansion, teaming up with Dotworkers.