Good morning. Why can’t we be friends? That’s what Macau gaming operators and executives are likely asking after the White House chose to lump the gaming hub in with nations and regions it deems adversarial. One such company, Galaxy, meanwhile has continued to thrive, with very strong quarterly results to top off the year. And for Melco, revenue also continued to rise in 4Q24, with improved operational performance. For Genting Malaysia Berhad, the tone was less positive, as the group fell to a loss.
What you need to know
- The US labelling of Macau as a “foreign adversary” raises concerns over capital flow, tax and auditing for gaming operators.
- Galaxy sees 15 percent yearly rise in 4Q24 adjusted EBITDA, non-gaming large scale events strategy to continue.
- Melco Resorts records a 9% revenue increase in 4Q24 to $1.19 billion, boosted by improved performance across operations.
- Genting Malaysia Berhad drops to a loss in 4Q24, with a significant fall in revenue and increased costs.
On the radar
- The Star enters trading halt over concerns it could fold.
- Macau security chief: significant downward trend in illegal money exchange.
- CNMI says government still owes $291K in commissioner wages.
- Police raid POGO scam hub in Pasay City, over 400 foreigners arrested.
AGB Intelligence
MACAU
Designation as “foreign adversary” by US causes casino concerns
Macau operators and executives are trying to figure out the exact impact that the White House’s designation of the SAR as a “foreign adversary” could have on their operations, finances and movement of capital. A top political scientist lays out the immediate potential problems the Macau operators could be facing, whether they are US-backed or not.
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