Your Daily Asia Gaming eBrief: Macau operators doing "heavy lifting" of diversification

Good Morning. Macau's gaming operators will have to flex their collective muscles as they're expected to do the "heavy lifting" in the city's diversification efforts, notes an expert. Current non-gaming GDP expectations are unrealistic, barring more concrete efforts to bridge public and private interests. Also in Macau, the mass-led recovery continues, as Galaxy sees mass market table drop surpass 2019 levels in 2Q23.

What you need to know

• The Macau government is expecting gaming concessionaires to do the “heavy lifting” of economic diversification efforts: consultant.
• The mass-led recovery in Macau is persisting, with mass market table drop surpassing 2019 levels by 5.7 percent at Galaxy Macau in 2Q23.

On the radar

• The Star JV taken to court by Queen’s Wharf Brisbane contractor.
• PH lawmaker calls for money laundering watchdog to review POGOs.
• LET Group projects a profit of $58 million in 1H23.
• Grand Lisboa Palace launches Texas Hold'em Poker zone.
• Wynn Macau to allow some employees to subscribe to share capital.
• Int'l visitors just 4.2 percent of total Macau visitation in 1H23.
• Wynn Macau to start diversification trial run in Rua da Felicidade.

AGB Intelligence

MACAU DIVERSIFICATION

"Heavy lifting" expected from operators: consultant

Corporate Spotlight

Industry Updates

• Fastex granted initial approval from Dubai's VARA.
• Sands Resorts Macao wins Best Integrated Resort (MICE) Award.

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