Good Morning. The non-gaming push in Macau could be starting to yield some results, as large-scale concerts have driven spend in both gaming and non-gaming – notes Morningstar analyst Jennifer Song. As summer approaches, Macau, Singapore and Korea are all set to benefit from record-high interest in travel, as booking sites see demand surge. And in Australia, Crown has been leveled with a $294 million penalty for non-compliance with AML/CFT laws.

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What you need to know

  • Morningstar analyst Jennifer Song notes Macau’s non-gaming push is beginning to work, even as operators saw record 1Q23 earnings.
  • Crown Resorts has been hit with a $294 million fine for non-compliance with AML/CFT regulations at its Perth and Melbourne properties.
  • Summer travel bookings are surging, with strong interest in regional travel within Asia – set to benefit Macau, Seoul and Singapore.

On the radar

AGB Intelligence


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Morningstar analyst says non-gaming performance encouraging

Macau’s non-gaming push could be starting to bear fruit, with recent large-scale concerts in the gaming hub promoting synergy in both non-gaming and gaming spend. Morningstar analyst Jennifer Song notes that concessionaires’ revenues are on the rebound, despite initial per-capita spend being depressed, with some operators recording record-high daily earnings.

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