Good Morning. The pie might be big enough for everyone. Despite potential shifts in consumer behavior, experts suggest that Macau’s gaming revenue might not be significantly affected due to the preferences of Hong Kong visitors, who are typically singles or couples. However, with Hong Kong experiencing a surge in northbound spending, Macau may face increased competition from mainland China as a short-haul travel destination.
Meanwhile, PAGCOR has reported a remarkable 42 percent year-on-year income surge in the first quarter of 2024, reaching PHP25.24 billion ($437.9 million) as it targets a possible historic milestone of PHP100 billion ($1.73 billion) in 2024. The news was less rosy for Universal Entertainment CEO, Jun Fujimoto, who was considered guilty of fiduciary duty breach involving over $4 million by the Tokyo High Court.
What you need to know
- HK outbound travel preferences are shifting towards the mainland but Macau’s gaming market may not be affected: Experts.
- PAGCOR reports a 42 percent increase in 1Q24 income to $437 million, placing the nation on track for a milestone year.
- Tokyo High Court rules Universal Entertainment CEO, Jun Fujimoto, guilty of fiduciary duty breach involving over $4 million.
On the radar
- Experts examine: Why are gaming operators coming to the Philippines?
- Philippines senator calls for POGO ban due to fugitive concerns.
- Okura Holdings announces internal restructuring plan.
- South Korea cracking down on illegal online gambling, particularly teens.
- Aristocrat concludes NeoGames acquisition.
- Macau-Hengqin multi-entry visa for package tour visitors.
AGB Intelligence
MACAU
HK visitation surge to not impact Macau GGR
Hong Kong has historically been a major tourism contributor to Macau, particularly in gaming revenue, yet recent shifts in spending patterns among Hong Kong visitors in mainland China present potential challenges. Despite this, experts suggest that Macau’s gaming revenue may remain relatively unaffected, but could face heightened competition from mainland China as a short-haul travel option. Nevertheless, Macau seems well-prepared for the upcoming Labor Day holiday, boasting high hotel occupancy rates and optimistic tourism forecasts.
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