Good Morning: Continuing to “grind”. That’s what Galaxy Entertainment’s strategy is, as it focuses on all segments, including support for junkets. The group’s COO Kevin Kelley, however is keen on ETGs, while dispelling ideas the group was focusing on regional or emerging markets, preferring to dial in on Macau. Regarding the gaming hub, professor Jose Wong says that high airfare prices and a slow aviation recovery are hindering Macau’s overseas visitor aspirations. Meanwhile, the Macau Jockey Club’s situation is worsening, with plans to reduce races next month.
What you need to know
- Galaxy Entertainment’s COO Kevin Kelley: company continues to “grind” in all segments, still supporting junkets, while focusing solely on Macau.
- Macau’s overseas visitor increase lags due to slow aviation recovery, high airfare price, says Jose Wong, professor at MUST.
- The Macau Jockey Club is allegedly set to reduce races starting next month due to the worsening financial situation.
On the radar
- PAGCOR’s alternative dispute resolution program accredited by PH DOJ.
- Chinese authorities arrest CEO of DouYu for alleged illegal gambling ops.
- Gov’t confident Macau could reach $26.8 bln GGR goal in 2024.
- Malaysian national jailed for card counting scheme at Marina Bay Sands.
- Imperial Pacific Int’l has winding-up hearings pushed back to January 17th.
AGB Intelligence
MACAU
Galaxy Entertainment is still keen on junkets, ETGs target younger demographic
Galaxy Entertainment’s COO, Kevin Kelley, says that the company is focusing its efforts on all segments of the market, still hoping to support junkets’ success, even as it hits more mass and premium mass with its new entertainment venues. The group is also targeting the younger demographic, with a focus on ETGs. But it’s keeping its eggs in one basket and isn’t currently exploring other opportunities outside Macau.
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