Good Morning. Caviar and champagne, high-roller suites and Louis Vuitton handbags. That’s the major draw Macau continues to have, with expectations it will continue pulling in the clientele boosted by its location, nature and infrastructure, notes Équité’s CEO. And the amenities boost gaming spend, as Citigroup says Macau’s premium mass shows unwavering strength that defies seasonality. Meanwhile, in Las Vegas, MGM Resorts suffers the ongoing impact of cyberattacks, with an analyst estimating a daily loss of up to $8.4 million in revenue until the situation is mitigated.
What you need to know
- Macau is still a competitive luxury destination thanks to a mix of fine dining, location and luxury hospitality options: CEO.
- Citigroup says Macau’s premium mass market shows unwavering strength in average wagers, defying seasonality.
- MGM Resorts could be losing up to $8.4 million in daily revenues as a result of the systems shutdown caused by cyberattacks: analyst.
On the radar
- Tabcorp, eight venues charged by regulator for allowing a minor to gamble.
- Macau hotel sector with $764 million deficit in 2022.
- Six gaming firms make Time’s World’s Best Companies of 2023 ranking.
- Macau closes COVID coordination group in final adieu to pandemic.
- RWS appoints former STB marketing head as new Senior Vice President.
- Australia ups anti-gambling measures, study links issue to suicide.
A unique combination of location, nature and infrastructure lend Macau “extremely high” potential as a top luxury destination, according to the CEO of luxury brand strategy firm Équité. Luxury hospitality and fine dining mixed with gaming and entertainment mean that the city will continue to earn Michelin stars and five-star rankings. In addition, the city’s free port status and sales tax exemption mean that punters can get the whole glossy package.
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