Good morning. Where there’s cheese, there’s MICE. That’s what Macau is hoping – as it estimates a strong rebound in convention and exhibition visitors this year. But increased hotel room rates, driven by continual visitation rises, are pressuring the industry. In the digital world, the online gambling market is expected to grow by $150.5 billion until 2027, with analysts predicting mobile betting will drive growth – especially in APAC.
What you need to know
- Macau is expecting MICE to be a strong contributor to non-gaming this year, but high room rates are worrying organizers.
- The online gambling market is expected to grow by $150.5 billion until 2027, driven by increased mobile adoption.
On the radar
- Wynn Resorts’ holdings in Wynn Macau drop to 65 percent.
- Century Entertainment says Chinese punters are ‘not major patrons’.
- Leisure and Resorts World Corp changes name to DigiPlus Interactive.
- Australia urges for increased consumer protection for online gambling.
MICE sector set for strong rebound in 2023
Macau’s meetings, incentives, conferences and exhibitions sector is expected to see a strong recovery in 2023, boosted by more venues and a return of visitors – spurred on by special packages and rebates. But high room rates are worrying organizers, who are pushing Macau’s gaming operators to give out discounts – especially on the Cotai Strip.
- BetConstruct becomes Technology Provider of the Year at SPiCE India.
- Slotegrator is presenting its solutions in three major markets this March.
Meet at ASEAN 2023
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