Good Morning. Macau’s gaming market continues to be of interest, with the second quarter results showing a slight discrepancy for the larger operators as they aim to increase their base mass revenue, notes an analyst. Meanwhile, Thailand is proving to be more complicated than initially anticipated, while the UAE also poses its own new questions. On another flank, sports betting is heating up, as the UEFA Euro 2024 continues, with significant interest from Asian punters.
What you need to know
- Macau operators need to focus on their mass and premium mass strategy, even as the IVS brings benefits, meanwhile Thailand and the UAE draw eyeballs: analyst.
- Interest in the UEFA Euro 2024 is considerably high globally, with Africa and the Asia-Pacific region standing out in their excitement for the competition.
On the radar
- Palasino sees 81% profit drop due to one-off expenses.
- Macau Slot’s profits grow in 2023, auditor flags financial disclosure issues.
- MGM China lists $500 million in senior notes.
- Laos to grant visa-free entry for Chinese tourists starting in July.
- China plans to increase duty-free limit for visitors to Hong Kong: Report.
AGB Intelligence
FACE TO FACE
Vitaly Umansky on Macau, Thailand and the UAE
Veteran analyst Vitaly Umansky says that Macau’s second quarter data is looking optimistic, as April and May started strong, lifting results. However, operators are needing to focus strongly on both mass and premium mass to drive revenues up, as competition increases, even as the market should continue to grow. Meanwhile, Thailand is turning out to be more complicated than initially expected, with political uncertainty. And the UAE poses an interesting opportunity, with Wynn’s project potentially facing competition.
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