Good Morning. Macau has always been cyclical. But the good times could be here for some time to stay, as the positive Chinese consumer sentiment is a “lasting trend”, according to a top economist. This is good news for operators aiming to capitalize on the post-CNY period and extend it for as long as possible. That will be necessary for continued growth, as Macau’s diversification efforts are slow to take off, partially due to its sheltered nature, given how shielded it is from external volatility. Coming back to the Year of the Horse, premium mass play lived up to expectations during the holiday, with a new record in average wagers, say analysts at Citigroup.
What you need to know
- Positive Chinese consumer sentiment is a “lasting trend” for Macau, says the former Executive Director of the Monetary Authority.
- Macau’s premium mass demand robust over CNY, with average wagers climbing 13% to a record $3,788, indicates Citigroup table survey.
On the radar
- PhilWeb to build and operate FBM Philippines’ online gaming platform.
- Galaxy, Melco, and SJM secure renewal of currency exchange permits.
- Cambodia deports 494 Chinese over telecom fraud in Sihanoukville.
- Singapore tourism slides in January with heavy drop in Chinese visitation.
- Thailand backs $22.6B casino-free tourism complex in the EEC.
AGB Intelligence
MACAU
Positive Chinese consumer sentiment is a “lasting trend”: top economist
The good times will continue to roll in Macau, as the positive Chinese consumer sentiment is a “lasting trend”, says the former Executive Director of the Monetary Authority of Macau. The SAR’s unique positioning shields it from external financial risks but operators still need to capitalize on cyclical upswings. US-facing operators do face more volatility, and the government should pay heed as its diversification is only a “mirage” in a short-term view.
Industry Updates
- Fast Track Spark lands in São Paulo for Advanced Retention Workshop.
- QTech Games enhances its premier platform with Pixmove.
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