Good Morning: Investment and return. Macau gaming operators put the sector under the microscope in a panel at the MGS Entertainment Show, highlighting shortcomings and outlining the necessity for return on investment – even as they make good on their non-gaming investment pledges. Also in Macau, SJM significantly narrowed its 3Q23 loss, as EBITDA returned to black. Meanwhile, Aristocrat saw a healthy fiscal year, with profit up 20 percent yearly.
What you need to know
- Macau operators highlight changes need to adapt to market conditions and gov’t requirements, while attempting to attract foreign visitors.
- Macau gaming operator SJM managed to narrow its 3Q23 loss to $52 million, while pulling its EBITDA back into the black, at $72.5 million.
- Aristocrat saw strong results during its fiscal year, achieving a 20 percent rise in profit, to $858 million, boosted by Aristocrat Gaming.
On the radar
- Macau $22.4 bln GGR goal “impossible” to achieve in 2023: Chief Executive.
- Macau market to shift from gaming tables to EGMs naturally: Galaxy COO.
- MGS Entertainment Show received 3,000 attendees on the first day.
AGB Intelligence
MACAU
Operators highlight roadblocks for ongoing success
Macau’s six gaming operators outlined some of the primary challenges they’re facing, amongst changing tourist demographics, government requirements and the need to attract more international visitors. In a panel at the MGS Entertainment Show, all six operators noted how investment in non-gaming must be coupled with solid strategy for return, while lamenting some of the ongoing issues they face coming off of COVID.
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Industry Updates
- LT Game showcases innovative slot games at MGS 2023.
- The Gaming Technologies Association (GTA) appoints Adam Raskall.
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