Good Morning. Macau’s Chief Executive has all but come out and said that the city’s diversification plans are 100 percent dependent on the six operators. The top official said that development plans submitted by the concessionaires mid-March would now serve as the basis for the government to rewrite its own. On a Lighter note, VP Ken Jolly of Light & Wonder – Asia says there are exciting opportunities ahead, particularly in the Philippines, even as Macau has to change its business model to account for non-gaming.
What you need to know
- Macau CE: city reshaping diversification plan after operators submitted their non-gaming development plans mid-March.
- Ken Jolly says Light & Wonder is enjoying seeing the Asian market reopen, with particular opportunities in the Philippines even as Macau changes.
On the radar
- IMF forecasts 59% economic growth for Macau this year.
- Betr fined $142k by NSW government for ‘breaches of wagering laws’.
- Recovery in Chinese outbound tourism by mid-2023: Maybank.
- Macau’s international flight resumption delayed by labor shortages.
CE says non-gaming plans from operators shaping city’s future
Any doubt about how Macau’s diversification has been placed solely in the hands of the six gaming operators was dispelled on Friday, after the Chief Executive said the government’s diversification plan would only come out after studying those submitted by the operators mid-March.
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