Good Morning. The good times can’t last forever. That’s what Southeast Asian gaming and tourism hubs are realizing as the Chinese tourism rebound fails to meet expectations. Security concerns and an economic slowdown are causing drops in Chinese tourism and spending, pressuring the visitor-dependent nations. Meanwhile, Asian bettors continue to trump their European counterparts, averaging 2.5 times more and leaving bettors in LatAm far in the dust.
What you need to know
- Southeast Asian economies face a tourism dilemma: the absence of Chinese tourists and the struggle to lure them back.
- Average bet in Asia outstrips European averages by 2.5 times; leaving average bet size of LatAm players trailing more than fourfold.
On the radar
- DigiPlus founder pushing Galaxy to revamp $500 million Boracay resort plan.
- SkyCity CEO Michael Ahearne to resign, effective March 2024.
- Universal Entertainment raises 2023 profit forecast by nearly 52 percent.
- Wynn Macau refurbishment completed in 2Q23.
- SJM Chairman: October strongest month of FY23, plans to revamp Grand Lisboa.
- Malaysian police arrest almost 2,000 people in illegal gambling crackdown.
AGB Intelligence
CHINESE TOURISM
Southeast Asian gaming hubs struggle to attract Chinese Tourists
Gaming and tourism hubs within Southeast Asia are struggling to attract Chinese customers, with sharp drop-offs in the numbers of visitors from the source when compared to 2019. Vietnam, Cambodia and Thailand are all suffering from less outbound Chinese tourism, with lower spending being attributed to an economic slowdown and safety concerns.
Corporate Spotlight
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All you need to know about 1xBet affiliate program
1xBet was founded in 2007 and started accepting bets online in 2010. Over the years, 1xBet has become a key player in the sports betting industry and is now one of the top three most visited betting websites.
Industry Updates
- Oktoberfest Macau at MGM 2023 kicks off.
- Light & Wonder agrees to four-year platform extension with ReelPlay.
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