Good Morning. Last Sunday concluded the final day of the Lunar New Year period, which saw more than 113,000 visitors to Macau. The number is below what had been forecast by government authorities, and far below that of pre-pandemic times, though visitation, hotel occupancy, and spending were an improvement from 2021. This week’s infographic tracks Macau CNY numbers over the last four years, three of which were impacted by Covid.
What you need to know
- Studio City International Holdings is raising funds via a combination of a senior secured notes offering and a private placement offer, both of which will be used to partially fund the construction of Studio City Phase 2 and for general corporate purposes.
- Nagacorp posted a loss for 2021 due to the impact of Covid closures, but said it had seen a strong rebound in volumes following Nagaworld’s reopening in September.
- Macau’s February GGR is likely to be up 29% from January, says Bernstein Research, which says the forecast is slightly higher than its prior estimates after a positive Chinese New Year.
- Star Entertainment said it expects to post a provision of $13 million in its 1H22 results to remediate underpayment of its employees.
On the radar
- NUSTAR plans soft launch of first five-star hotel in May.
- Kangwon Land to invest $23.7m to remodel casino space.
- Okura warns of six-month loss as Covid hits pachinko.
- Paradise Co. Jan. sales drop 39% from prior month.
- Everi to expand in Australia with A$33m acquisition of ecash Holdings.
- Aristocrat price/revenue targets cut at JPM following Playtech bid failure.
What the papers say
- IPI interim CEO Ray Yumul has resigned, effective February 1
BY THE NUMB3RS
Macau’s Chinese New Year visitation numbers saw their first year-on-year improvement this year since 2019 with a total of 113,699 visitors over the seven-day holiday period starting from January 31. The numbers however are still far from 2019 pre-pandemic visitation numbers, which saw daily average visitation more than 10 times that of 2022’s CNY holiday period. It’s a number also far below the 40,000 daily average that Macau Government Tourism Office (MGTO) had been expecting, despite organizing a number of large-scale events to attract visitors.
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- BBIN launches public vision of the future initiative.
- Sands China hosts responsible gaming training sessions.