Your Daily Asia Gaming eBrief: Could Macau-HK travel bubble be moving closer to fruition?

Good morning. The doubling of the daily bus frequency between Macau and Hong Kong is again reviving hopes of a travel bubble between the regions, something that would boost both non-gaming and mass revenue, and could come about even before Golden Week in October.

What you need to know

• Genting Group's credit ratings have been downgraded by S&P due to the slower-than-expected recovery in Malaysia, with earnings not seen recovering until 2023. 
• HK authorities have busted a suspected money laundering and smuggling ring which they say brought millions of dollars into Macau and Zhuhai via the HKZM bridge.
• Pointsbet said retail investors took up about 8 million shares in its entitlement offer, raising some A$64.2 million, about two-thirds less than its target.
• SkyCity’s New Zealand casinos, F&B outlets, and hotel closures have been costing the company around A$1 million a day as a result of a country-wide lockdown. 

On the radar

• Philippines expects to have 70% of its population vaccinated by Feb.
• Tabcorp has formal approval to appoint Janette Kendall to the board.
• Expanding travel avenues by the private sector will boost visitation to Macau.

What the papers say

• Singapore paid lower salaries to expats in 2020, with avg pay down $7,300.

AGB Intelligence

DEEP DIVE

Could Hong Kong/Macau travel bubble be moving closer to fruition?

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