Good Morning. Winner winner chicken dinner. Alidad Tash picks the top Macau champions and losers for 2023 – with MGM emerging as the underdog. A restructuring of the market means that 2024 should prove quite interesting, as the operators should continue to thrive. Meanwhile, analysts at Goldman Sachs have called Galaxy’s performance ‘flat’ as the group negotiates increased spending associated with its new hotels and large-scale events, even as gaming win turns sour.
What you need to know
- Face to Face: MGM emerges as clear winner in 2023 for market share, as SJM lags and the market restructures away from junkets – Alidad Tash.
- Goldman Sachs sees Galaxy Entertainment’s 4Q23 performance as ‘flat’ due to bad luck in gaming win and high costs incurred for new hotel openings/events
On the radar
- Queensland’s December gaming tally up 4.6 percent yearly.
- SJM announces discretionary bonus for employees.
- Tigre de Cristal resort’s licensee to be sold for $116 million.
- Prospects for Philippines stocks boosted by gaming and tourism optimism.
- Thailand welcomes over 600,000 foreign tourists in the first week of 2024.
AGB Intelligence
FACE TO FACE
Alidad Tash: Macau winners and losers for 2023
2NT8 Limited’s Managing Director Alidad Tash does an in-depth look into the winners and losers of 2023 in Macau – pointing out the shifting framework and key sticking points for the operators during the first year of their new gaming licenses. While MGM was a key winner in regards to market share, other players saw surprising shifts during the dynamic year.
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