Asia round-up: Macau, Melco and Hoiana – Gambling Insider’s top stories this week
Our biggest Asia-based stories of the week are detailed below, with the top story coming from Macau...
Macau’s overall February revenue up 6% to HK$7.76bn
Macau’s February 2022 gross gaming revenue was up 6% from the same period last year.
Casino revenue totalled HK$7.76bn ($992m), a 22% increase on January, in which takings reached a meager HK$6.34bn.
Despite this significant improvement on the previous month, accumulated revenue still sits at a variance of -8% from the same period in 2021. This is a vast improvement on January’s year-on-year variance, though, which slumped to -20.9% from the same period in January 2021.
Macau gives operators six-month licence extension
Macau casino companies will see their licences extended through to 31 December 2022, buying more time for the city’s rebidding process.
The city’s six current concessions and sub-concessions, which are set to expire on 26 June, will now be valid for a further six months, according to Economy and Finance Secretary Lei Wai Nong.
Studio City’s results mark upturn in profits for Philippines industry
Studio City International Holdings has reported its unaudited financial results for the fourth quarter of 2021, with total operating revenue reaching $28.4m.
This is an increase of $4.7m from the same period last year. Studio City cites the change is due to greater takings from the provision of gaming-related services, partially offset by lower non-gaming revenue.
Melco’s results highlight struggles faced by Asian land-based gaming operators
Melco Resorts & Entertainment has reported its unaudited financial results for Q4 and the full year ended December 31.
Total operating revenue was down 9% year-on-year, with $480.6m taken at the end of 2021, down $47.4m on 2020.
Jit Hg announced as CMO for Hoiana Integrated Resort
Jit Hg has been appointed as the new Chief Marketing Officer (CMO) at Hoiana Integrated Resort.
A former head of resort marketing, Hg brings with him experience in hospitality, retail, casino and digital marketing leadership. Hoiana trusts these skills are highly adaptable, believing Hg will transfer seamlessly to his position as CMO.
Hoiana claims Hg will broaden the company’s growth in new markets, and drive preference in highly competitive market spaces with his 25-year experience leading teams and cultivating data-driven insights for brand growth.
Gambling Insider delivers the latest industry news, in-depth features, and operator reviews that you can trust. Our team combines rigorous editorial standards with decades of specialized expertise to ensure accuracy and fairness. We are committed to delivering clear, impartial, and dependable coverage across the global gambling sector.
