Good Morning. Macau’s gaming industry has for the most part breathed a collective sigh of relief that the proposed gaming law changes weren’t as onerous as initially feared. However, as University of Macau Associate Professor Glenn McCartney writes, there still may be bumps in the road ahead. The upcoming RFP process might reveal exactly what the government expects when it comes to realizing its goals.
What you need to know
- Macau’s amended gaming law has passed its first reading in the Legislative Assembly, although representatives expressed concern about the future of satellite casinos and their employees.
- Macau GGR is now expected to be down 77 percent from pre-pandemic levels, while the key Chinese New Year period is also likely to take a hit from tighter travel restrictions: Bernstein
- Billionaire businessman Lim Kok Thay has stepped down as chairman and CEO of Genting H.K. after the cruise ship operator filed a petition in Bermuda to wind up its cash-strapped business.
On the radar
- Macau GDP recovery not seen until 2025: IMF
What the papers say
- NagaWorld issues statement that it encourages unions
- Zitro and SG pull out of ICE London citing problem with dates
- Wynn Resorts looks to sell online sports betting biz at deep discount
AGB Intelligence
INDUSTRY VOICE: GLENN MCCARTNEY
Macau bidders need to pay close attention to government vision
With the concession expiry deadline looming the government is pushing ahead with its plans for a public re-tender for the coveted licenses. Glenn McCartney MBE, Associate Professor of International Integrated Resort Management at the University of Macau, writes that the attention will soon be focused on the request for proposal process and ensuring the pitches are in line with the government’s clearly stated objectives will be key.
Industry Updates
- Pragmatic Play turns back time with prehistoric release, Rock Vegas
- Sands holds supplier awards, publishes book on local success stories
- IAGA opens registration for ’22 International Gaming Summit in Boston
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