Daily Asia Gaming eBrief: Macau's foreign operators need to restrategize

Wednesday 30th of October 2024

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Good morning. Macau's foreign operators by now well understand the ups and downs that go along with political shifts. But after their new gaming licenses, and with an incoming Chief Executive, things could get a bit more complicated, warns security expert Steve Vickers. Meanwhile, things are looking up in the Philippines, as PAGCOR raked in $165 million in net income for the first three quarters, championed by electronic games. And in Australia, The Star falls to negative EBITDA, as new responsible gaming measures take their toll.

What you need to know

Macau’s new drive towards diversification may come at the cost of foreign-owned casinos, warns a security consultant.
PAGCOR 1Q to 3Q net income hits $165 million, nearly doubling yearly, fueled by robust electronic games performance.
The Star falls to negative EBITDA in the most recent fiscal quarter, weighed down by carded play and cash limits, amongst a 'challenging environment'.

On the radar

Isle of Man responds to UN criticism of gambling regulations.
International package tours boost Macau visitation, as China slumps slightly.
Philippine Charity Sweepstakes Office ups lottery prizes for 90^th anniversary.
Macau Cotai Strip public outdoor concert venue to be ready soon.
Australian gambling industry defends R&D tax credits amid scrutiny.

AGB Intelligence

MACAU

Macau's foreign operators face concerns under new leadership

Macau is undergoing yet another political transformation, with the election of a new Chief Executive set to again redefine the standards around the gaming industry's trajectory. Chief Executive-elect Sam Hou Fai is expected to encourage increased alignment with mainland China, which is stifling capital outflows. Security consultant Steve Vickers cautions that foreign-based operators will need to restrategize to handle the new environment.

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