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

Good Morning. With maturity comes wisdom. Such is the growth story of Newport World Resorts, with its COO, Hakan Dagtas, noting the growing pains the property has been through in its bid to become the IR of choice in Metro Manila, even as competition heats up. But the group's renewed focus on the high-end market, as well as its non-gaming, should lead to success, notes the executive. Meanwhile, in Macau, SJM and MGM China are pegged to be outperformers in 1Q24, despite overall market EBITDA only improving marginally sequentially.

What you need to know

• Newport World Resorts focuses on being the go-to IR, leveraging local and international high-rollers with non-gaming: COO.
• Brokerage firm Citi forecasts SJM Holdings and MGM China are likely to emerge as operational outperformers for the first quarter of 2024.

On the radar

• Queensland’s March gaming tally up 7.9% yearly.
• Imperial Pacific agrees with $24M settlement in 2024.
• Philippines receives 1.6M international tourists in 1Q24, Chinese up 150%. 
• India court suspends money laundering case against lottery businessman.

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