Daily Asia Gaming eBrief: Macau hits GGR record in October but government 5-year plan causes doubts

Good Morning. What happens in Macau…..stays in the history books, as October GGR roared back to bust post-pandemic records, based upon the Golden Week swell. Analysts are now looking at $22.8 billion in FY23 revenue, after October brought in $2.42 billion alone. But government plans for the city's overall economic development, highly focused on gaming operators' non-gaming commitments and generosity, raise questions over how much government intervention the sector can handle.

What you need to know

• Macau's new 5-year economic development plan highlights the intervention of the government in casino operations, even as GGR swells.
• Deutsche Bank anticipates Macau's 2023 GGR will continue to see a 38 percent shortfall compared to pre-pandemic levels.

On the radar

• Macau Government projects $26.8 billion in GGR for 2024.
• Jeju Dream Tower's Oct. casino revenue up 38.3 percent from September.
• LET Group terminates sale of property in Japan.
• HKJC: $35.6mln new revenue on approval of non-local race day bets.
• RWS to get 700 new hotel rooms, 21k m2 in retail space: report.
• Sportradar: 38 percent increase in 3Q23 EBITDA, cuts workforce.

AGB Intelligence

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