Good Morning. It’s quarterly recovery time as Wynn Macau reported an unexpectedly positive 2Q23, ending the three-year period with a consolidated income of $127.5 million, reflecting a 171 percent increase compared to the previous quarter and extending its post-pandemic recovery momentum. Meanwhile, the Philippines gaming market maintained its momentum in 2Q23 with the country’s gaming industry revenue topping $1.2 billion. Most of it came from PAGCOR-operated casinos. One of the operators to reap the benefits was Bloomberry Resorts which saw its total gross gaming revenue at Solaire jump 41 percent.
What you need to know
- Gaming operator Wynn Macau saw its results balloon in 2Q23.
- Philippine industry GGR tops $1.2 billion in 2Q23, slightly down by 1.3 percent from the previous quarter but up by 28.3 percent yearly.
- Bloomberry Resorts has reported that its total GGR in 1H23 reached $554 million, marking a 41 percent increase from 1H22.
On the radar
- New PAGCOR EGM standards greenlighted, to be implemented in 2024.
- Shin Hwa World expecting net losses to expand in the first half of this year.
- Grand Korea Leisure with 60 percent sequential drop in profits during 2Q23.
- Fusion Hotel Group opens new resort at Grand Ho Tram Strip.
AGB Intelligence
MACAU
Wynn Macau tallies an impressive 2Q23
Gaming operator Wynn Macau ended the second quarter of 2023 with a consolidated income of $127.5 million, reflecting a 171 percent increase compared to the first quarter and extending its post-pandemic recovery momentum. Wynn Resorts CEO, Craig Billings attributed the improvement to post-COVID recovery, and good performances in the group’s mass gaming, luxury retail and hotel businesses.
Industry Updates
- MGM named “Role Model of Sustainability” & “Outstanding Employer” at the 12th CFS.
- Enrolment now open for 13th Intake of Sands Procurement Academy.
- Tom Horn invites players to unleash their inner fire in new game Fire’n’Frenzy 5.
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