Good Morning. Vietnam is a complicated gaming market, but for Macau veteran Walter Power it’s just a matter of finding out what drives EBITDA. A complete revamp of the gaming floor and an openness to explore both the mass and VIP sides are driving The Grand Ho Tram to new heights, all based on being an IR rather than just a resort with a casino. Meanwhile, India is undergoing strong structural changes, as the Supreme Court rules on gaming taxation rates, crucial for encouraging investment.
What you need to know
- Macau’s ban on junket gaming credit insurance aligns with China and Macau’s public policy, says a gaming expert.
- Galaxy Entertainment and MGM China indicate that competition in the industry is intensifying, but is still manageable.
- Sands China records stark EBITDA increase, as operations in Macau and Singapore both shine, based on gaming and non-gaming.
On the radar
- PAGCOR appoints lawyer Wilma Eisma as new president and COO.
- MGTO anticipates 130K visitors daily during Labor Day holiday.
- Chinese Embassy: Philippines addressing ‘root causes’ of POGOs.
- Macau received 585K foreign visitors in 1Q24, 68% of 2019 levels.
- Commissioner acknowledges ‘prejudice’ in IPI case.
- Macau CAA gives green light for more flights and routes.
AGB Intelligence
FACE TO FACE
Reshaping The Grand Ho Tram into an IR: EBITDA is king
Since coming in four years ago, gaming veteran Walter Power has flipped the script on the Grand Ho Tram Resort, leveraging decades of experience in Macau to shape it into a true integrated resort, drawing the expat crowd from nearby Ho Chi Minh and further abroad. The CEO has high hopes that locals will be allowed to gamble in the future, boosting government revenue, while also revamping the group’s gaming floor and delivering exciting events – focusing on driving EBITDA ever-higher.
Corporate Spotlight
Fast Track leading digital transformation in Asia’s iGaming sector
Fast Track is setting new standards in CRM for the iGaming industry across Asia, as underlined at the ASEAN Gaming Summit 2024. Harnessing the power of real-time data, AI-driven automation, and personalized player engagement, Fast Track’s innovative solutions are responding to the industry’s expansion and actively shaping its evolution.
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