Daily Asia Gaming eBrief: Horse racing in Macau effectively dead, "end of an age"

Good Morning. Macau has lost one of its gambling streams, as horse racing in the SAR has officially come to an abrupt end. The city's concessionaire says it has been operating at a continual loss, signaling for the government to end its lucrative concession, with its land now in government hands, but not for gambling purposes. Meanwhile, the United Nations has found that crypto, casinos and junkets are fomenting underground crime in SE Asia. Furthermore, in Macau baccarat is on the rise again, as players increase wagers.

What you need to know

• Macau Jockey Club to end its concession, by its own hand, the government pledges land will not be used for a "casino" or "gaming".
• "Always operating at a loss" - Macau Jockey Club details the reasons for its closure, amongst limitations imposed.
• United Nations report reveals casinos, cryptocurrency, and VIP junkets are fueling underground banking and crime in East and Southeast Asia
• Citigroup: player demand remains robust, as release of 98 premium mass baccarat tables in Jan. leads to a 26 percent m-o-m increase in wagers.

On the radar

• Galaxy Entertainment announces a 2.5 percent pay raise starting April.
• Philippine GGR expected to reach $6 billion in 2024, says Tengco.
• Macau GGR annual tally more directly linked to mass market volume.
• MGM staff set to enjoy salary increases ranging from 2.5 to 6.5 percent.
• Genesis Global has its Malta license canceled.

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