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.
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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.
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