Good morning. Macau will have a lot to celebrate in the fourth quarter, with its 25th anniversary welcoming the top brass from the mainland and ringing in a new Chief Executive. Analysts are already predicting a 5 percent yearly increase in GGR, boosted more by Golden Week than the likely downturn in punter visitation during the political commemorations. Meanwhile, in Thailand, casino legalization has hit yet another road bump, as top political figures differ on their views over the country’s need for casinos in the proposed entertainment complexes that it hopes to help boost the economy.
What you need to know
- Macau’s GGR is expected to rise by 5% YoY in 4Q24, driven by improved consumer confidence and a dynamic lineup of events, says CICC.
- The future of casino legalization in Thailand is again in question as key political figures dispute their opposing views.
On the radar
- Bookmaker 1xBet allegedly involved in fake matches.
- Baha Mar original developer awarded $1.6B due to fraud by the contractor.
- Bloomberry CEO Thomas Arasi increases personal stake in the group.
- Over 5,000 POGO foreign workers failed to downgrade visas.
- Authorities observe a surge in illegal gambling dens in parts of Myanmar.
- Macau gaming operators scale back sponsorship value for the 2024 Grand Prix.
- Marriott to launch Luxury Collection and AC Hotels in Shenzhen.
AGB Intelligence
MACAU
Macau GGR expected to rise by 5% in 4Q24
Consumer confidence appears to be on the rise, as punters flood back into Macau’s casinos, boosting estimates by analysts for fourth-quarter earnings. CICC is now anticipating a 5 percent yearly increase in GGR for the period, bolstered by operators’ strong investment in events. Mass continues to lead the recovery, with heavy footfall, particularly at major integrated resorts such as Galaxy.
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