Good Morning. Macau is back on lockdown following the worst Covid outbreak since the pandemic started with 21 local cases identified. Despite significant borders restrictions to both inbound and outbound travel, and all government branches having been closed – to allow for another round of massive testing – the Government has no plans to postpone voting on the gaming law tomorrow, Tuesday, or delay the new concession process. Recovery stalled, again.
What you need to know
- Covid outbreak disrupts recovery near term as Macau visitation will be limited and revenues expected to plummet close to zero for, likely, several weeks.
- The worst Covid outbreak since the pandemic has hit Macau, triggering travel restrictions, Government shutdown, and a fourth round of mass testing.
- Australia-listed Donaco International has said its Star Vegas property in Cambodia has been given the green light to reopen from June 18th.
- Las Vegas Sands and SJM Holdings’ credit ratings have been cut by Fitch, which has reduced confidence in the Macau market’s recovery.
On the radar
- SJM Holdings payroll up to $76.4m in 2H22 with satellite staff absorption.
- Sands China reveals first hybrid MICE broadcast space at The Londoner.
The Indian government’s recent advisory to print, electronic and digital media not to accept ads from online gambling platforms is a welcome move that won’t affect legal skill-based gaming, writes i-gaming consultant Jaydeep Chakravartty. The advisory has outlined the difference between ‘games of skill’ and ‘games of chance’ precisely and we have found this new advisory to be a welcome reference point on ‘what should be done’ and ‘what should not be done.’
- Light & Wonder extends U.S. presence with online casino brand PlayStar.
- Digitain appoints industry veteran Peter Nolan to lead R&D team.