Good morning. China’s move to open up (including Macau), has prompted a wave of backlash from nations, imposing travel restrictions, which Beijing deems “discriminatory”, imposing its own measures in kind. The move could actually bode well for Macau in particular, and other more open jurisdictions such as the Philippines and Singapore during CNY, while South Korea stands to lose out. Regarding the US market, analysts at Fitch are predicting a 10 percent decline in 2023, as operators see demand pullback.
What you need to know
- Increased travel restrictions popping up across Asia could restrict the flow of Chinese tourists during the CNY holiday.
- Analysts are predicting that US gaming operators will see demand pullback after strong 2022 revenues, with a 10 percent decline in 2023.
On the radar
- Macau DICJ: Tak Chun records did not display extra income, report.
- Macau visitation during three days after opening up tops 109k.
- Melco to offer a discretionary bonus to non-management employees.
- Fontainebleau Las Vegas appoints Brett Mufson as President and CEO.
AGB Intelligence
ASIA
Travel restrictions on Chinese visitors to benefit open countries
The wave of travel restrictions being imposed on Chinese visitors, which China deems “discriminatory”, could actually bode well for certain more open-facing jurisdictions, with Macau, Singapore and the Philippines to benefit from their open travel policies. South Korea is likely to lose out on the CNY pent-up demand, as China vows retaliation for measures imposed on its outbound travelers.
Industry Updates
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