Good Morning. Bright skies for Macau’s gaming industry, as its first big typhoon of the year tracks away. Galaxy’s new Raffles hotel is seeing strong volumes at its premium mass room, despite not yet being officially open. The “Horizon” room also doesn’t appear to be cannibalizing from other premium mass rooms within the Galaxy complex. And in the world of Genting, its Singapore and Malaysia properties are seeing a rebound in visitation, even as Fitch analysts downgrade Resorts World Las Vegas.
What you need to know
- Fitch cuts Resorts World Las Vegas expectations after re-assessment of its linkage with parent Genting Bhd.
- Although Galaxy’s Raffles Hotel is not officially open, Citigroup’s analysts note its new premium mass room is already raking in some decent volumes.
On the radar
- Pansy Ho nominated independent director of Asia’s largest air carrier.
- Chinese travelers spent double on domestic travel in 1H23.
- New medical facility sponsored by Bloomberry and PAGCOR in Luzon.
- Macau reopens links to HK, resumes flights, as typhoon 8 passes.
- Hong Kong Jockey Club season makes $18.06 billion.
- Far East Consortium to sell two Australian properties for $342mln.
- Reef Casino appoints new CEO Bradley Sheahon.
AGB Intelligence
MACAU
Strong premium mass play at Galaxy’s Raffles
While not yet officially opened, Galaxy’s Raffles hotel is already bringing in the punters. Its new ‘Horizon’ premium mass room is drawing in whales already, betting over $12,000 per hand. Analysts at Citigroup note that, luckily, the new room doesn’t appear to be cannibalizing from other premium mass rooms within the Galaxy complex, and total bets are getting closer to 2019 levels.
Industry Updates
- Pariplay brings Konami Gaming titles to DraftKings in NJ.
- Digitain increases eSports Betting Content with BETER.
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