Good morning. Build it and they will come. But maybe not that quickly. SJM Resorts new foray into the Hengqin hospitality market makes sense considering its interlinkage with the Shun Tak group. But other Macau gaming operators are biding their time and seeing exactly how best to maximize any potential developments across the border before jumping in with both feet. Meanwhile, cross-border interlinkages continue to improve, with the expected launch of Macau’s own digital currency anticipated to also have links to its digital counterparts in mainland China and Hong Kong.
What you need to know
- SJM’s strategic deal in Hengqin is a promising step for the company, but it is unlikely to trigger a wave of similar actions across the industry.
- Macau launching digital currency with potential link to RMB and HKD, further improving cross-border currency ties.
On the radar
- PH President vows to use full force of the law to shut down POGOs.
- Macau gaming tax revenue hits $1 billion in November.
- New Zealand’s greyhound racing ban causes shock and industry backlash.
- Wynn Resorts announces two new additions to investor relations team.
- Macau strengthens hospitality education links with Vietnam.
AGB Intelligence
MACAU
Hengqin a strategic move for SJM, others not following quickly
Macau legacy gaming operator SJM’s move to set up a 3-star hotel in Hengqin by converting office space is a strategic move for the company, especially considering its family ties to the Shun Tak group. And the market is appealing for the expansion of the company’s hospitality footprint across the border. However, other operators might not be so quick to jump into the Hengqin market. Even giants like Galaxy, who own a large swathe of land in the region, are biding their time on developments.
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