GGRAsia – Newsletter 2

Mohegan Inspire 97pct completed, on target for 4Q launch

Sep 22, 2023 Newsdesk Latest News, Rest of Asia, Top of the deck

Construction of the Inspire Entertainment Resort, a complex at Incheon, South Korea, was “approximately 97 percent” completed at the end of August, according to its promoter, Mohegan Tribal...

Golden Week Macau GGR to be 17pct up on rest of Oct: MS

Sep 21, 2023 Newsdesk Latest News, Macau, Top of the deck

Macau’s daily casino gross gaming revenue (GGR) could be circa 17 percent higher during China’s Golden Week holiday straddling the end of September and start of October, than is expected for the...

No swift resumption of dividends for most Macau ops: GS

Sep 19, 2023 Newsdesk Latest News, Macau, Top of the deck

Investment bank Goldman Sachs said in a Sunday memo that it believes that most Macau casino operators “may not be able to resume dividend anytime soon,” due to “either stretched balance sheets...

Macau eyes mainland help to fight illicit money changing

Sep 18, 2023 Newsdesk Latest News, Macau, Top of the deck

Macau’s security forces hope for “strengthening cooperation” with their counterparts on the Chinese mainland, and greater “exchanges of intelligence” to tackle what they term “the...

Brokerage lowers 3Q EBITDAR estimates for LVS Macau ops

Sep 15, 2023 Newsdesk Latest News, Macau, Top of the deck

Brokerage JP Morgan Securities LLC says it has lowered by 4.3 percent its estimate for third-quarter property level adjusted earnings before interest, taxation, depreciation, amortisation and rent...

China, Vietnam sign MoU on tackling cross-border gambling

Sep 14, 2023 Newsdesk Latest News, Rest of Asia, Top of the deck

The top security officials respectively of China and Vietnam have on Wednesday signed a memorandum of understanding (MoU) on bilateral cooperation in combatting “cross-border gambling”...

Morgan Stanley cuts Macau op 2023 EBITDA forecast by 5pct

Sep 13, 2023 Newsdesk Latest News, Macau, Top of the deck

Banking group Morgan Stanley says it has lowered by 5 percent, on average, its estimates on 2023 earnings before interest, taxation, depreciation and amortisation (EBITDA) for Macau’s six casino...

Macau to collect data on non-gaming projects by casino ops

Sep 12, 2023 Newsdesk Latest News, Macau, Top of the deck

The Macau authorities plan to create a tailor-made questionnaire covering specifically non-gaming investment projects by the city’s six casino concessionaires, as part of the data collection...

Macau GGR only US$530mln in first 10 days of Sept: analysts

Sep 12, 2023 Newsdesk Latest News, Macau, Top of the deck

Market-wide casino gross gaming revenue (GGR) in Macau reached MOP4.30 billion (US$530.0 million) in the first 10 days of September, or a daily run-rate of MOP430 million, according to estimates from...

Osaka could face extra US$175mln for land work at IR site

Sep 08, 2023 Newsdesk Japan, Latest News, Top of the deck

Japan’s Osaka metropolis might need to use an extra JPY25.7 billion (US$174.6 million) of public money for land improvement at its chosen site for an integrated resort (IR) with casino. Such...