Good morning. Macau undergoes wave after wave of change, and still manages to keep its head above water. But the SAR’s gaming reforms and virtual elimination of junkets continue to have a massive effect on how the industry operates – being pushed to focus more on the mass market and be strictly compliant. A new study indicates that this aligns it more closely with national objectives and ‘Chinese-style modernization’. Meanwhile, analysts at Fitch say that MGM China has entered a mature operational phase, improving its market share and allowing its parent company to benefit more from its recent branding license fee increase.
What you need to know
- Macau gaming reforms pivoted from revenue to governance, aligning with China’s capital controls, transparency and legal priorities: Study.
- MGM China enters steadier phase, with rising market share and competitive position, delivering stable cash flow to parent: Fitch.
On the radar
- Delta Corp faces $188M GST notices from Goa authorities for FY22-23.
- Macau hotel occupancy rate could fall due to ME conflict: economist.
- Japan sees record 3.46M tourists in Feb, despite 45% drop in CH visitation.
- Macau Chief Executive pushes diversification for next 5-year plan.
AGB Intelligence
MACAU
Reforms pivoted from revenue to governance: Study
The evisceration of Macau’s junket sector caused a massive change in the SAR’s gaming make-up, with authorities aiming to shift the focus away from revenue and concentrate on aligning with central government objectives. A recent study highlights how the sector is now more concentrated on compliance and catering to the mass market, marking a new wave in Macau’s evolution under ‘Chinese-style modernization’.
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