Good Morning. Macau’s diversification plans have suffered yet another delay, as a source says that the plans submitted by the gaming hub’s concessionaires have failed to meet their expectations. The gov’t is now planning a back-and-forth to iron out their requirements, delaying the release of the govt’s own plan until September. And in the online world, experts are aiming to draw the younger generation into iGaming through NFTs, saying they help create a sense of community and have lasting value.
What you need to know
- Macau gaming operators’ diversification plans fail to meet expectations, gov’t plan delayed to Sept: source.
- NFTs could be the next way to lure in younger players to the iGaming space, promoting a sense of community: experts.
On the radar
- CLSA upgrades Genting Singapore to “buy”.
- Delta Corp casino revenue up 10 percent in quarter, on ‘robust growth’.
- Macau’s hotel occupancy rate reached 89 percent in June.
- Goa gov’t will not allow new offshore casinos: minister.
- China’s int’l air travel recovered to only 33% of 2019 levels in 2Q23.
- Trip.com products’ retention rate rose by 30-40 percent via AI tools.
Macau authorities have decided to postpone the launch of the city’s adjusted economic diversification plan to September, with a source telling AGB the delay was caused by gaming operators failing to meet diversification requirements in their proposals. The government is now in talks with the concessionaires to upgrade their plans before it formulates its own overarching strategy for the city.