Good Morning. Every last detail. That’s what Macau’s government is requiring from concessionaires under their new investment plans, mandating specifics on how operators will effectively diversify the city’s economy, based upon the four areas it hopes to explore. Adding to the city’s non-gaming offerings, Galaxy has soft-opened its 450-room Raffles hotel. In the Philippines, PAGCOR’s chairman says he plans to double the nation’s GGR by 2028, hoping to boost Chinese tourism.
What you need to know
- Macau gov’t puts forward new requirements for gaming concessionaires, source says new mandates delay their investment plans.
- PAGCOR’s chairman says that the nation is aiming to double its GGR by 2028, aiming to boost Chinese tourism.
- Galaxy adds some 450 new hotel rooms as it holds a soft launch of its newest hotel Raffles.
On the radar
- Former Macau junket employees get $620k in remuneration scheme.
- Singapore seizes $736mln after raids on online gambling syndicate.
- Gaming-themed movie ranks No.1 in China’s box office.
- Macau to require gaming concessionaire neutrality in CE election.
- Success Universe Group flags return to profit in 2023.
- Macau visitor spending balloons to $2.1 billion in 2Q23.
AGB Intelligence
MACAU
New gov’t requirements delay investment plans
Macau’s government has issued a series of new requirements mandating strict delineation of investment plans by gaming concessionaires for each area of diversification the city is hoping to achieve. The move further delays the roll-out of operators’ strategies and clarifies their role as the overarching force behind the city’s move away from gaming as its primary revenue source. However, it also muddies the waters over how much public intervention will take place in companies’ fiscal strategies.
Corporate Spotlight
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Industry Updates
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- QTech Games teams up with HoGaming to bolster its live-dealer offering.
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