Good morning. Happy Friday the 13th! Good omens are on the horizon, as Macau’s top official says that gross gaming revenue this year should reach government estimates of $16.17 billion, with monthly revenue not allowed to drop below a $1.24 billion threshold. This comes as Macau and mainland Chinese authorities busted a $3.69 billion betting ring. And Las Vegas Sands is aiming to re-enter the US market, with a bid for a New York casino in Long Island, pledging a multi-billion-dollar property as it leases an 80-acre venue.
What you need to know
- Macau’s top official is estimating that gross gaming revenue in 2023 will reach $16.17 billion, with monthly figures to not fall below $1.24 billion.
- Las Vegas Sands is re-entering the US market, with plans to develop a multi-billion-dollar casino in New York’s Long Island.
- Macau and mainland China authorities bust an online gambling ring worth $3.69 billion, arresting dozens.
On the radar
- South Korea’s Kangwon Land enters Philippines market with EGMs.
- Macau re-establishing flights to South Korea and Thailand.
- Thailand to adopt tourism tax starting in June.
AGB Intelligence
MACAU
Macau CE: GGR in 2023 to top $16 billion
Macau’s top official has reaffirmed the SAR’s faith in the return of its gaming industry, stating that gross gaming revenues in 2023 will top $16.17 billion. The official also pressured gaming operators to up their game, as he noted that the government was expecting the gaming sector to churn out at least $1.24 billion in monthly GGR. Ahead of the CNY holiday, visitation is expected to reach 50k daily, far short of the 170k registered before the pandemic.
Industry Updates
- AGEM announces Officer Elections.
- Pragmatic Play grows Swiss footprint with Grand Casino Bern deal.
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