Good Morning. ‘Keep holdin’ on to what’s golden’. Macau saw better-than-expected revenues during the Golden Week holiday, with analysts at JP Morgan saying overall GGR reached about 80 percent of pre-pandemic figures. Mass topped out at 120 percent of 2019-levels, while daily revenue rose to over $116 million. Meanwhile, in the Philippines, authorities admit they’re not going after offshore gaming operator suspects as aggressively because they don’t have the means to hold the detainees.
What you need to know
- Macau’s National Day Golden Week GGR soars to 80 percent of 2019 levels, driven by robust mass market performance, surpassing expectations.
- Authorities in the Philippines are not aggressively going after POGO suspects because they lack the resources to hold them.
On the radar
- Bloomberry Resorts increases public ownership percentage.
- MGM China enters Hang Seng’s Corporate Sustainability Index.
- Gaming workers to protest at Caesars and MGM Resorts.
- Macau gained 18,400 non-resident workers since January.
AGB Intelligence
MACAU
Golden Week sees GGR at 80 percent of 2019 levels: JP Morgan
The national holidays in China pushed Golden Week gross gaming revenue to 80 percent of 2019-levels, say analysts at JP Morgan. The figure surpassed expectations, with mass market revenue hitting up to 120 percent of the same period in 2019. Daily revenue likely hit up to $116 million. Meanwhile, the analyst opine that gaming stocks are likely closer to the bottom than to their peaks.
Corporate Spotlight
Evolution unveils innovative Prosperity Tree Baccarat game
Evolution, a prominent iGaming B2B solution provider, has announced the release of a groundbreaking game Prosperity Tree Baccarat, recreating the classic Baccarat play with a fresh and engaging twist.
All you need to know about 1xBet affiliate program
1xBet was founded in 2007 and started accepting bets online in 2010. Over the years, 1xBet has become a key player in the sports betting industry and is now one of the top three most visited betting websites.
Industry Updates
- ONE Esports MPLI expands beyond Southeast Asia.
- Gaming Realms appoints Suki Sandhu as its CPO.
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