Macau found a way to ring out the year with a touch of Xmas cheer as hotels reached an average occupancy rate of 70 percent and the number of visitors jumped 20 percent. We also take note that Levo Chan, who became Macau Legend’s largest shareholder in September, has followed up by becoming the firm’s CEO as well. This is Asia Gaming Brief’s final newsletter of the year. Our team wishes you all the best for the New Year holiday. We will be back next Monday to keep you informed in 2021 as well.
First, the news
- Macau gets some Xmas cheer as arrivals rise
- Levo Chan becomes CEO of Macau Legend
- Manila to remain under general community quarantine until end January
- Philippines extends travel ban to 19 countries
- Galaxy says wage dispute at Cotai project due to Mainland agencies
- Jeju casino revenues in 2020 to be less than third of previous year
- Bangkok police arrest 94 in illegal gambling raid
- Resorts World Genting open, not affected by nearby restrictions
- CNMI governor criticized for silence on IPI worker plight
- BetMakers clears hurdles for US$41.7 million purchase of Sportech assets
What you need to know
The Macau government’s intense marketing efforts in Mainland China appear to have borne fruit over the Christmas holiday season with hotels reaching an average occupancy rate of 70 percent. According to figures from the Macau Government Tourism Office (MGTO), the average daily number of visitors was more than 24,000 between Dec. 23rd and 27th. That was an increase of 20 percent for the days in December prior to the 23rd and up 30.5 percent from the average daily number of visitors in October.
Chan Weng Lin, also known as Levo Chan, has become the CEO of Macau Legend in addition to his role as co-chair of the board. He replaces Melinda Chan in the executive post. Levo Chan, also chief executive of the junket-related Tak Chun Group, became the largest shareholder in Macau Legend Development in September after the company’s founder, David Chow, and others sold down their shares. At present, Chan owns about a third of the company’s shares.
The year that changed the game
New Zealand and Australia continue to outperform the world with the management of the pandemic, and while it’s likely a travel bubble between the two countries will be the first major change in border restrictions, we expect it will come with a number of restrictions.
At the end of this annus horribilis, after so much hardship and so much obedience demonstrated by societies in lockdown around the world, we are all entitled to a nice Christmas present and the prospect of a better tomorrow.