Your Daily Asia Gaming eBrief: Xmas cheer for Macau
Wednesday 30th of December 2020
Good morning,
Macau found a way to ring out the year with a touch of Xmas cheer as hotels reached an average occupancy rate of 70 percent and the number of visitors jumped 20 percent. We also take note that Levo Chan, who became Macau Legend’s largest shareholder in September, has followed up by becoming the firm’s CEO as well. This is Asia Gaming Brief’s final newsletter of the year. Our team wishes you all the best for the New Year holiday. We will be back next Monday to keep you informed in 2021 as well.
The Macau government’s intense marketing efforts in Mainland China appear to have borne fruit over the Christmas holiday season with hotels reaching an average occupancy rate of 70 percent. According to figures from the Macau Government Tourism Office (MGTO), the average daily number of visitors was more than 24,000 between Dec. 23rd and 27th. That was an increase of 20 percent for the days in December prior to the 23rd and up 30.5 percent from the average daily number of visitors in October.
Chan Weng Lin, also known as Levo Chan, has become the CEO of Macau Legend in addition to his role as co-chair of the board. He replaces Melinda Chan in the executive post. Levo Chan, also chief executive of the junket-related Tak Chun Group, became the largest shareholder in Macau Legend Development in September after the company’s founder, David Chow, and others sold down their shares. At present, Chan owns about a third of the company’s shares.
New Zealand and Australia continue to outperform the world with the management of the pandemic, and while it’s likely a travel bubble between the two countries will be the first major change in border restrictions, we expect it will come with a number of restrictions.
At the end of this annus horribilis, after so much hardship and so much obedience demonstrated by societies in lockdown around the world, we are all entitled to a nice Christmas present and the prospect of a better tomorrow.
Asia Gaming Brief is a news and intelligence service providing up to date market information
for worldwide executives on relevant gaming issues in Asia.