Good Morning. While most of the industry breathed a sigh of relief following the publication of Macau’s gaming law amendments, the satellite casinos were left in limbo and are still waiting to hear their fate. In this week’s Face-to-Face interview, Hoffman Ma, deputy chairman of Success Universe Group, talks about the lack of clarity over how the law changes will affect his company’s Ponte 16 project. He also discusses pivoting the property to target the mass market and likely recovery trajectory in Macau.
What you need to know
- Some Mainland China cities appear to be slowing the issuance of Macau individual visit scheme visas, although there is not enough evidence to draw meaningful conclusions: J.P. Morgan.
- Aristocrat said it’s forming a new business division, which will be headed by Mitchell Bowen, to accelerate its plans to develop real money online gaming.
- Genting Malaysia returned to profit in 4Q21 as revenue surged following easing Covid restrictions and said it was paying a special dividend to shareholders.
- NagaCorp’s performance is expected to improve in the coming months as pandemic restrictions ease, Moody’s analysts argue.
On the radar
- RW Las Vegas ramp up slower than expected: Nomura.
- HK Covid-19 situation to further delay GBA reopening.
- Aquis 2021 profit drops 71%, but pushing ahead with future plans.
- Former IPI junket now part owner of casino parent company.
- Casino billionaires wealth slumps on Covid stock losses: Forbes.
- EveryMatrix 4Q21 gross profit gains 26% as investments begin to pay.
What the papers say
- Thai police rescue 1,200 nationals lured to work in call centers, online gambling in Cambodia.
- Cricketer Sachin Tendulkar to take legal action after Big Daddy casino uses his image.
Macau’s satellite casinos were the biggest losers in the government’s amended gaming law, which are currently under review in legislative committees. The wording of the amendments state the properties must be owned by the concessionaire. In this week’s Face-to-Face interview, Success Universe Group Deputy Chairman Hoffman Ma discusses the impact this has had on the company’s Ponte 16 property. He explains expansion plans are on hold while the group waits for clarity. He also discusses the likely trajectory for recovery in Macau and how the group has been pivoting to target mass market players.
- IAGR call for speakers, Melbourne deadline approaching