Good morning. There has been a disconnect between the number of incoming tourists and gross gambling revenue,ย signaling a changing demographicย amongst the Mainland Chinese visitor to Macau, says Ben Lee, managing partner of iGamiX Management and Consulting.ย Analysts who follow the sector closely have also said that gains in visitation this year have not always translated into what they would have expected to see in terms of GGR.ย The big question is why?
What you need to know
- Macauย will have to revise down its budget forecasts due to low GGR and says greater border opening wonโt be possible without more vaccinations.
- Crown Resortsย has continued to strengthen its board of directors with the announcement of a new group company secretary and a non-executive director.
- Fumio Kishidaย will be the new leader of Japanโs Liberal Democratic Party, ensuring no upsets for the IR industry at least at this stage.
- Caesars Entertainmentย has joined the consortium led by Clairvest Neem Venture, which is developing a seaside casino resort in Wakayama in Japan.ย
- Chinaย and Cambodiaย on Tuesday agreed to continue their existing cooperation to stamp out cross-border crimes, including illegal online gambling.
On the radar
- Macau Aug.ย hotel occupancyย drops 25.3 percentage points from July
- Berjaya Sports Toto 4Q21 revenueย jumps 137.2%ย on more draws
- Saipanโs casino regulator is takingย another stepย to revoke IPIโs casino license.
What the papers say
- Mohegan now only an operating partner inย Inspire Athens: Kathmerini
- Crown Perth cage bossย missed red flagsย in international money transfers
- DICJ reminds operatorsย to have Covid-19 contingency plans in place
AGB Intelligence
DEEP DIVE
What’s driving change in Macau visitor profile?
Macauโs hopes for a Golden Week boost have been dashed by another outbreak of Covid, but even if visitors had come, questions remain as to how much they may have spent in the casinos. The gambling hub has been recovering at a snailโs pace from Covid due to ongoing travel restrictions and the failure to reinstate group visas or e-visas for individual visit schemes.ย However, observers also note a disconnect between the number of incoming tourists and gross gambling revenue. โThere is aย changing demographic amongst the Mainland Chinese visitor,โ said gaming consultant Ben Lee, managing partner of iGamiX Management & Consulting. โThey are younger and there are more females and they do not gamble,โ he said.
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