Good morning. Diversify or…Macau’s likely next Chief Executive has already made his opinions clear in regards to the gaming sector. In a speech announcing his candidacy, the former judge Sam Hou Fai highlighted that China’s central government has already mandated that Macau diversify away from gaming, while claiming that over the years the sector has become “unbalanced”. Meanwhile, analysts indicate that Sands China is shining, grabbing a 24.5 percent gross gaming revenue share in the second quarter, strongly ahead of its competitors.
What you need to know
- Diversification of Macau economy away from gaming industry an imperative from Chinese central authorities: sole candidate to next Chief Executive.
- Macau gaming operator Sands China maintained its leadership in Macau’s gaming industry, holding a 24.5 percent GGR market share in 2Q24.
On the radar
- Shin Hwa World reduces loss by nearly a third, gaming revenue improves.
- Paradise Entertainment swings to profit in 1H24, as GGR booms.
- Asian Racing Federation re-elects Chair and Vice-Chairs at Sapporo meet.
- Seaport raises concerns over slow ramp-up at SJM’s Grand Lisboa Palace.
- Australasian medical colleges join calls for complete gambling advertising ban.
AGB Intelligence
MACAU
New CE candidate Sam Hou Fai says gaming industry is “unbalanced”
The new, and likely sole, candidate for Macau’s next Chief Executive role, Sam Hou Fai has already taken a hard line in regards to casinos. In his discourse announcing his run for the spot, former top judge Sam Hou Fai indicated that the Chinese central government has given clear indications to Macau to diversify away from gaming, himself indicating that the sector had become “unbalanced”.
Corporate Spotlight
1xBet: The most popular gambling games and slots in Asia
For global betting company 1xBet, Asia is a key market for several reasons. This is why 1xBet pays special attention to the Asian market and actively promotes its sports betting platform and the most popular gambling games on the continent.
Industry Updates
- Aristocrat Interactive latest business to support BetBlocker.
- NuxGame integrates live casino experiences with LuckyStreak partnership.
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