Monday, July 15, 2024

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China’s economic slowdown creates turbulence for Macau’s non-gaming sector

Although some research shows that the willingness of Chinese tourists to spend in Macau remains high, recent market changes signal a potential decline in consumption.

Genting Bhd makes big bets on non-gaming

Genting Bhd, the largest casino conglomerate in Southeast Asia, is expanding its presence in the non-gaming sector with a RM5 billion ($1.06 billion) investment plan in the energy industry.

Macau’s MICE generates over $112M in non-gaming revenue in 1Q24

In the first quarter of 2024, the MICE-driven receipts of non-gaming industries in Macau surged to $112 million, an increase of over 50 percent from the same period in 2023. The growth is primarily attributed to escalated spending by MICE visitors.

Daily Asia Gaming eBrief: TransAct sees cashless opportunities in gaming/non-gaming

Whereas cash used to be king, cashless is making moves to steal the crown. But opportunities still abound within both the gaming and non-gaming spheres, according to Transact Tech CRO Tracey Winslow.
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Non-gaming cashless opportunities boosting gaming offerings: TransAct CRO

The shift to cashless is providing opportunities both within the gaming space and the non-gaming space, with TransAct Technologies poised to leverage its experience across multiple markets in Asia and abroad.

SJM makes culinary acquisitions to boost non-gaming offerings

SJM Holdings Limited has announced two strategic acquisitions to bolster its culinary portfolio and mass market appeal.

Non-gaming visitor spending in Macau up by 36% YoY in 1Q24

Non-gaming visitor spending in Macau reached $2.54 billion in the first quarter of 2024, a 36 percent increase yearly and a 20 percent rise compared to 1Q19. 

Newport World Resorts with new annual high in GGR for 2023, non-gaming booms

Newport World Resorts achieved a new annual high in gross gaming revenues in 2023, topping $600 million, with double-digit returns in its non-gaming revenue.

Non-gaming offerings to shield Genting from possible reduction in Chinese gamblers – Board of Directors

In a response to shareholders questions ahead of its board meeting, Genting Singapore stated that the improvement in Chinese arrivals is expected to contribute positively to its performance and touted future non-gaming offerings as a response to the warning issued by Chinese authorities for the country's citizens to avoid gaming in the city-state.

Daily Asia Gaming eBrief: Newport World Resorts targeting high-end play/non-gaming

The first integrated resort in Manila, Newport World Resorts has reached a certain level of maturity, underlined by now being under a single umbrella group. Hakan Dagtas, COO of the IR, says that 2023 was the best results year for the property since its opening.