Daily Asia Gaming eBrief: Macau January GGR to reach $2.2bln: analysts

Good Morning. New Year, new Macau. Analysts are predicting that January GGR could top $2.2 billion, even as the VIP sector continues to decline and regional competition increases. In the Philippines, the president has expressed intent to get off the FATF grey list within this month, pushing government agencies to toe the line. Meanwhile, South Korea's GKL saw casino sales rise by half in 2023. Further abroad, reports indicate a possible $895 million casino project for Fiji. And in Macau, MGM is offering a bonus and Wynn is upping its share granting scheme.

What you need to know

• Citigroup projects Macau's January gaming revenue at $2.2 billion, marking a recovery to 70 percent of January 2019 levels, driven by seasonal factors.
• Philippines puts “self-imposed deadline” to exit FATF grey list in January 2024, amongst worries it could slide onto black list.

On the radar

• PH court orders PAGCOR to pay $2.1 million in deficiency income tax.
• South Korea’s GKL casino sales up nearly 50 percent in 2023.
• Wynn Macau grants 346,000 shares to 346 employees.
• MGM China announces CNY one-month salary staff bonus.
• $895 million casino and 1,000 room hotel project unveiled in Fiji.
• MGTO launches free bus ticket offer from HK airport to Macau.

AGB Intelligence

MACAU

Citigroup: January GGR to reach $2.2 billion

Corporate Spotlight

1xBet sums up 2023: Innovations, awards, partners and winnings

Industry Updates

• IGP hires former Pariplay VP Dirk Camilleri as Chief Product Officer.
• Betby to power leading Asian brand FUN88 in LATAM expansion.

MEMBERSHIP | MAGAZINE | ASEAN | CAREERS