Daily Asia Gaming eBrief: Wynn growth centered on premium mass

Monday 3rd of June 2024

1709253631

Good Morning. It is all in the premium. Seaport Research highlights that gaining premium mass market share in Macau is critical for Wynn's growth over the next 1-2 years. According to senior analyst Vitaly Umansky, Wynn may increase its market share in 2024 but could lose some in 2025 due to competition from newer properties like Sands and Galaxy. Despite this, Wynn's historical adaptability and refocus on premium mass offerings should help maintain its market position. At the same time, brokerage firm Maybank pointed out that Genting Malaysia Berhad net profit results surpassed expectations due to lower-than-anticipated tax rates.

What you need to know

Seaport Research identifies gaining premium mass market share in Macau as a crucial factor for Wynn's growth in the next 1-2 years.
Genting outperformed profit expectations in 1Q24, with core net profit surpassing expectations due to lower-than-anticipated tax rates: Maybank.

On the radar

Macau GGR reaches $2.51B in May, up 8.9% m-o-m, hitting a new post-COVID high.
Further gaming recovery drives Macau’s strong growth: IMF.
IDX completes sale of Computer Vision Division and X-View to Kam Tak Asia.
Malaysian chamber backs Thai border casino to compete with Genting Highlands.
RGB Macau to sell almost 2,000 EGMs to PAGCOR.
Wynn Macau board to review semi-annual dividend policy adjustment.
Philippine Governor offers $170K reward for proof of POGO ties.

AGB Intelligence

MACAU

Strategic base mass marketing and historical adaptability to bolster Wynn

Gaining premium mass market share in Macau is crucial for Wynn's growth over the next 1-2 years, according to Seaport Research. Key growth strategies include enhancing base mass marketing to increase mid-week and walk-in traffic. At the same time, despite losing some gaming tables following the 2022 concession renewals, this is not anticipated to significantly impact short-term growth, with Wynn also likely to be slower in adopting smart table technology compared to competitors.

Corporate Spotlight

Online casinos onboard users in 52 seconds with Sumsub

Internet fraud is rising in the gambling and gaming industries. If platforms cannot prevent online gambling scams, they face AML compliance issues and reputational damage among partners and users. Thanks to Liveness, Sumsub’s advanced biometric check, companies can stop even the most sophisticated frauds, like hyper-realistic masks, look-alikes, and deep fakes.

How 1xBet dominates the Asian market: conditions and approach

1xBet operates in several dozen countries in Asia, and the number of partners in this region is growing steadily, which indicates the effectiveness of the 1xPartners affiliate program. The brand offers favorable conditions and a modern set of tools for making money on the Internet.