Good Morning. Macau is increasingly cozying up to the mainland, with a new multi-entry visa policy set to further increase its linkage with neighboring Hengqin. The plan bodes well for group tour operators but could cause hotel operators to up their game, even as it potentially boosts the MICE sector. Meanwhile, in Malaysia big things are afoot, with authorities reportedly discussing a second casino license for Forest City, with talks underway with Berjaya and Genting.
What you need to know
- New multi-entry visa between Macau and Hengqin may be launched as soon as May, increasing competition among hotels: insiders.
- Malaysia in talks with Berjaya and Genting over the possibilities of a second casino license, for ‘ghost town’ Forest City.
On the radar
- MGM Osaka secures $3.4 billion loan from banks.
- Emperor Entertainment expecting 150% jump in revenue for FY24.
- AU authorities scope offshore gambling operators at FIFA Women’s Cup.
- Donaco’s earnings steadily increasing, 1Q24 close to pre-COVID levels.
- Gaming spending to be lower during Labor Day in Macau.
AGB Intelligence
MACAU
Hotel competition to increase with new Macau-Hengqin visa
Group tour operators are bound to be rejoicing over the recent news that Macau and Hengqin are set to establish a multi-entry visa policy between the territories. According to insiders, the scheme could cause a loss to Macau hotel operations, with cheaper options right across the border. However, it could be a boon for the MICE industry, as limited capacity has been hindering the sector so far.
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