Good morning.
Limits on customer numbers and distancing has hurt gaming revenue, but gaming industry executive David Croft says the increased spacing hasn’t hurt yields as much as one would expect. One silver lining of Covid-19 restrictions is that customers have been forced to spread themselves out to other tables that may have otherwise been ignored. Croft shares his observations of gaming floor performance amidst restrictions.
Macau GGR edges higher with visitation from Guangdong improving and driving growth, but a key travel bubble with Hong Kong likely to be delayed. Macau’s gross gambling revenue rose 6 percent week-on-week as restrictions on Guangdong travel eased, according to Bernstein Research. However, opening the border to Hong Kong may be still three months away, the firm said.
First, the news
- Macau GGR edges higher, HK bubble likely delayed
- SJM seeks to operate casino at new Lisboeta property
- Corona closes as Vietnam extends Covid restrictions
- Delta Covid-mandated casino closures extended to July 26
- Success Dragon’s co-CEO resigns
- 2024 World Cruise sold out with fares starting at $73,499
- SkyCity Adelaide casino to close due to restrictions
- Ainsworth to record AU$1mln profit before tax in H1
- Niki Chyau Fwu fills out its Nagasaki consortium proposal
- Li Ka-shing and CK Group to launch HK$20mln vaccine lottery
- Yatai presses on with Myanmar casino city, seeks staff
What you need to know
Macau GGR edges higher, but HK travel bubble likely delayed
It’s one-step forward and one-step back for the recovery of Macau’s gross gambling revenue, with visitation from Guangdong improving and driving growth, but a key travel bubble with Hong Kong likely to be delayed. Bernstein Research says opening the border to Hong Kong may be still three months away. Hong Kong CEO Carrie Lam has indicated the bubble won’t be launched until the territory can also open its doors to Mainland China. For that to happen, Beijing has mandated that Hong Kong has to achieve a 70 percent vaccination rate and said it must keep tight control of its international borders. According to Bernstein, 70 percent coverage won’t be reached until mid-October at the current pace of the rollout.
Insights
INDUSTRY OPINION: David Croft
Casino floor restrictions not as painful as expected
Limits on customer numbers and distancing has hurt gaming revenue, but veteran gaming industry executive David Croft says the increased spacing hasn’t hurt yields as much as one would expect. In fact, quite the opposite has occurred. A silver lining of Covid-19 restrictions is that customers have been forced to spread themselves out to other tables that may have otherwise been ignored.
Corporate Spotlight
Pragmatic Play Asia footprint set to expand
The well-known content provider in the iGaming industry— Pragmatic Play will continue to expand its footprint in emerging markets worldwide. The increasing acceptance of iGaming has resulted in a gradual shift in attitude toward regulation, with more and more markets taking an approach to deliver legislative roadmaps that will drive business in a period of hyper-growth.
Industry Updates
- SG teams with Playtech on global distribution accord
- PAGCOR contributes P150m for evacuation centers
- Sands China Shopping Carnival returns on July 23
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