Good Morning. Macau has lost one of its gambling streams, as horse racing in the SAR has officially come to an abrupt end. The city’s concessionaire says it has been operating at a continual loss, signaling for the government to end its lucrative concession, with its land now in government hands, but not for gambling purposes. Meanwhile, the United Nations has found that crypto, casinos and junkets are fomenting underground crime in SE Asia. Furthermore, in Macau baccarat is on the rise again, as players increase wagers.
What you need to know
- Macau Jockey Club to end its concession, by its own hand, the government pledges land will not be used for a “casino” or “gaming”.
- “Always operating at a loss” – Macau Jockey Club details the reasons for its closure, amongst limitations imposed.
- United Nations report reveals casinos, cryptocurrency, and VIP junkets are fueling underground banking and crime in East and Southeast Asia
- Citigroup: player demand remains robust, as release of 98 premium mass baccarat tables in Jan. leads to a 26 percent m-o-m increase in wagers.
On the radar
- Galaxy Entertainment announces a 2.5 percent pay raise starting April.
- Philippine GGR expected to reach $6 billion in 2024, says Tengco.
- Macau GGR annual tally more directly linked to mass market volume.
- MGM staff set to enjoy salary increases ranging from 2.5 to 6.5 percent.
- Genesis Global has its Malta license canceled.
AGB Intelligence
MACAU
Macau Jockey Club shutters, end of an age
Despite running races since the 1600s, Macau’s iconic horse racing track is going to close, after the company behind it urged the government to relinquish its concession, in the first-of-its-kind loss of a highly coveted betting license. The move comes after over a decade of downturn, but begs the question as to why the concession was completely eliminated and not transferred to a third party.
Corporate Spotlight
1xBet sums up 2023: Innovations, awards, partners and winnings
1xBet is writing a success story with you and is happy to share its achievements in 2023. During 2023, 1xBet extended sponsorship agreements with world-famous sports clubs, cooperated with new partners and ambassadors, collected awards, and paid millions of dollars in winnings!
Industry Updates
- Digitain’s Centrivo Dynamics Platform presents two major additions.
- EvenBet Gaming shares iGaming insights through the eyes of the industry.
MEMBERSHIP | MAGAZINE | ASEAN | CAREERS
