Good morning. China, the one gaming market no one can live without. And the reopening of borders proved exactly that, as Macau’s economy is now leaping back, driven entirely by tourism – with hopes optimistic GDP targets will trickle down into Macau’s coffers. In good news for the region, China has also resumed issuing visas for all foreign arrivals, as it ramps up both incoming and outbound travel.
What you need to know
- Macau’s economy is on a rebound and aiming to breach pre-pandemic levels, as tourism improves and spending rises.
- China continues its push for both inbound and outbound travel, resuming visa issuance for foreigners and encouraging outbound tours.
On the radar
- The Star puts Sheraton Grand Mirage on the market for $200 million.
- Blackstone to boost MICE industry with $4.6 billion Cvent acquisition.
- Summit Ascent returned to profit in 2022.
- Macau CE and Chinese Vice-Premier of Commerce discuss MICE.
AGB Intelligence
MACAU
Economy rebounds as visitors flood in
A new evaluation of Macau’s economy shows that it is bounding back after it dropped its COVID measures, with a local economic association noting that the shadow of the pandemic is now firmly in Macau’s past. The sharp increase in visitation has driven the rise, with expectations for China’s GDP growth to further stimulate the city’s revival.
Corporate Spotlight
Continent 8 Technologies: The industry’s trusted infrastructure partner celebrates 25 years of reliable innovation at ASEAN 2023
Continent 8 Technologies is an award-winning, multi-jurisdictional, global network solutions provider that connects, manages, and secures a company’s most valuable information. This year the company celebrates 25 years of reliable innovation, supporting customers’ operations and global growth since 1998 through cutting-edge technology.
Find us at the ASEAN Gaming Summit 2023.
Industry Updates
- Borgata Hotel Casino & Spa announces $55 Million tower remodel.
- Sands China makes MOP675k responsible gaming donation to NGOs.
Meet at ASEAN 2023
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