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Macau’s mass to improve through 2022

George Miller

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Macau’s mass to improve through 2022
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According to financial firm Bernstein, mass is set to be pushed in Macau over the next five years and Melco and Wynn are set to benefit.

 

Professional tax and accounting firm Bernstein Financial Services Inc released a note on Tuesday projecting a mass improvement in Macau thanks to new properties success, transportation infrastructure improvements and a solid Chinese premium consumer. According to the document, Melco and Wynn Macau are set to get benefited by said growth and are the top picks for the brokerage in the sector.

Bernstein revealed it has revised its estimates for 2017-2022 CAGR to 8 percent for Total GGR, 6 percent for VIP and 11 percent for mass. Furthermore, the industry-wide EBITDA is projected to reach an 11 percent CAGR on better business mix and improving operating leverage.

Deutsche Bank agreed with Bernstein and recommended to buy at Wynn Resorts as it expects an acceleration of capital returns from its Macau venture. According to them, “the potential exists for dividends” from Wynn Macau are set to “triple over the next to years (2017E US$422 million / 2019E US$1.25 billion).”

At a high level, VIP business remains consistent, as well capitalised junkets continue to exhibit strong demand trends and normal / healthy repayment cycles. Management remains of the view that market growth is less relevant over the near to medium term, as it believes it can continue to take share as the Palace ramps, specifically in the premium mass segment, and the VIP environment remains strong,” said Deutsche Bank.

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Sasebo Chamber of Commerce Confirms Speakers for August 27th Seminar

Vlad Poptamas

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The Sasebo Chamber of Commerce / Nagasaki Marine IR Promotion Council have confirmed speakers for their seminar to be held on 27 August (Tuesday) at the Fuji International Hotel located in Sasebo City. Speakers will include Mr. Brendan Bussmann of Global Market Advisors, Dr. Glenn McCartney of the University of Macau and the Irish and European Chambers of Commerce (Macau), and Mr. Niall Murray, President of the Irish Chamber of Commerce (Macau). The seminar is expected to attract between 50 and 100 participants including local businesses from throughout Sasebo City, Nagasaki Prefecture and the Greater Kyushu Region. Presentations will include overviews on how the private sector should begin to formulate engagement plans with IR operators, as well as best practices with regards to how other Chambers of Commerce engage with both IR operators and the local business communities.

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Southeast Asian Countries Move Against Online Gambling

Niji Narayan

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Online and phone betting in Southeast Asian countries by punters from China have prompted Beijing to step up efforts to stem cross-border online gambling.

Southeast Asian countries are moving against their lucrative online gambling industries as Beijing clamps down on a practice that has ballooned due to demand from its own citizens.

The Philippine gaming regulator said that it would stop accepting applications for new online gaming operations at least until the end of the year, to review concerns about the burgeoning sector.

Cambodia’s Prime Minister Hun Sen has ordered a stop to new licences for online gambling operations. Existing licenses also will not be renewed upon expiry.

The about-turn in gambling policy in these Southeast Asian nations comes as China steps up efforts against what its minister for public security called “the cross-border online gambling problem.”

In the Philippines, more than 50 offshore gambling companies have permits to operate, over a hundred thousand Chinese workers had surged into Manila to staff the industry and property prices near gaming sites were booming.

Andrea Domingo, the Philippines’ gaming agency chair, while announcing the pause in new licenses emphasised that the practice is legal in the country, but that gaming revenue growth may be flat to slow this year due to China’s campaign.

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Cambodia to Ban the Issuance of Online Gambling Policy and Licenses

Niji Narayan

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Photo source: acboulle.org
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The Cambodian Government has issued a directive to stop the issuance of online gambling policy and licenses, both within and outside of Cambodia.

The government said that the industry had been used by foreign criminals to extort money. The southern coastal city of Sihanoukville has emerged as a particular centre for gambling and many of the dozens of Chinese-run casinos that have sprung up there have online gambling operations.

“The Royal Government of Cambodia will stop the issuance of online gambling policy and licenses, both within and outside of the Kingdom of Cambodia, from the date of signing this directive,” said the directive signed by Prime Minister Hun Sen.

“Some foreign criminals have taken refuge in the form of this gambling to cheat and extort money from victims, domestic and abroad, which affect the security, public order and social order,” the directive said.

China is Cambodia’s close ally, its biggest donor and investor. It has also been trying to crack down on cross-border gambling, criticising operations in the Philippines that are similar to those in Cambodia.

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