Good Morning. Macau operators continue to struggle with almost zero revenue and have already cut operating expenses back to the bone. In today’s infographic we take a look at the companies’ EBITDA margins over the past year to see who is faring best and why. We find Galaxy Entertainment is pulling ahead of the pack, while SJM Holdings is struggling and is the only one of the concessionaires not to have yet turned an EBITDA profit since the beginning of the pandemic.

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What you need to know

  • PAGCOR has reiterated its neutrality in a dispute between the owners of Okada Manila, saying it is abiding by the law.
  • Executives who were forcibly ousted from the board of Tiger Resort, Leisure and Entertainment (TRLEI) are fighting back with criminal charges against Kazuo Okada and his team.
  • New Zealand is calling for comments on plans to update its wagering laws, which will include new measures to reduce gambling harm.
  • Gross gambling revenue in Macau in June is likely to be 80 percent below its pre-Covid levels and the government is now planning to revise down its 2022 budget estimate as recovery lags.

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Your Daily Asia Gaming eBrief: Macau divergent EBITDA [Infographic]

Galaxy & SJM EBITDA margins tell two different stories

This week’s infographic and write-up continues our in-depth examination of Macau’s gaming industry performance in 1Q22. By examining the EBITDA margins of Macau’s six gaming concessionaires from the start of 2021 to the end of 1Q22, we take a glimpse at how operators have adapted (or not) to an industry that continues to be gripped by the pandemic and related border closures. Looking at the infographic, we see two stand out companies – Galaxy Entertainment Group and SJM Holdings, which are at opposite ends of the graph. 

Industry Updates

  • XanPay Payment Processing to showcase products at ASEAN.
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