Good Morning. Finally some good news for Macau legacy gaming operator SJM, with the group posting $1.1 billion in gaming revenue for the first half-year, as both mass and VIP play boomed. Macau itself also saw a return in high rollers this month, with Citigroup seeing a 31 percent increase in whales and continual willingness to play. Meanwhile, the Southeast Asian gambling sector has become a target for Chinese hackers, according to a cybersecurity firm.
What you need to know
- SJM announces robust interim results, with net gaming revenue hitting $1.1 billion in 1H23, a 128.2 percent year-on-year increase.
- Citigroup observed a 31 percent increase in high spending gamblers in August, the highest single-month tally of 2023.
- Chinese hackers are now shifting their focus to the gambling sector in Southeast Asia.
On the radar
- SJM anticipates Palazzo Versace grand opening in coming months.
- Macau gaming management positions down 20 percent in 2Q23.
- The Star major investor Bruce Mathieson aims to up stake: report
- Australian MPs: University of Sydney should return ICRG investment.
- Cebu hoteliers face manpower shortage as MICE and int’l tourism booms.
- Ainsworth concerned Argentina investment could limit 1H23 results.
AGB Intelligence
MACAU
SJM posts $1.1 billion in 1H23 revenue, mass and VIP on the rise
Macau legacy gaming operator SJM saw a strong first half-year, delivering some $1.1 billion in revenue during the period, with positive EBITDA figures. The results were driven by a strong increase in both mass and VIP play, as hotel occupancy shot up – helping non-gaming revenue. Satellite casino operations didn’t fare as well, with negative EBITDA, despite overall revenue rising.
Corporate Spotlight
1xBet was founded in 2007 and started accepting bets online in 2010. Over the years, 1xBet has become a key player in the sports betting industry and is now one of the top three most visited betting websites.
Industry Updates
- Pascal Gaming introduces Momentum for virtual sports betting.
- International Lion Dance Championship – “MGM Cup” sets off this October.
MEMBERSHIP | MAGAZINE | ASEAN | CAREERS
