Your Daily Asia Gaming eBrief: SJM sees 1H23 gaming revenue hit $1.1 billion

Good Morning. Finally some good news for Macau legacy gaming operator SJM, with the group posting $1.1 billion in gaming revenue for the first half-year, as both mass and VIP play boomed. Macau itself also saw a return in high rollers this month, with Citigroup seeing a 31 percent increase in whales and continual willingness to play. Meanwhile, the Southeast Asian gambling sector has become a target for Chinese hackers, according to a cybersecurity firm.

What you need to know

• SJM announces robust interim results, with net gaming revenue hitting $1.1 billion in 1H23, a 128.2 percent year-on-year increase.
• Citigroup observed a 31 percent increase in high spending gamblers in August, the highest single-month tally of 2023.
• Chinese hackers are now shifting their focus to the gambling sector in Southeast Asia.

On the radar

• SJM anticipates Palazzo Versace grand opening in coming months.
• Macau gaming management positions down 20 percent in 2Q23.
• The Star major investor Bruce Mathieson aims to up stake: report
• Australian MPs: University of Sydney should return ICRG investment.
• Cebu hoteliers face manpower shortage as MICE and int’l tourism booms.
• Ainsworth concerned Argentina investment could limit 1H23 results.

AGB Intelligence

MACAU

SJM posts $1.1 billion in 1H23 revenue, mass and VIP on the rise

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