Gross gaming revenue for Macau reached MOP3.3bn ($413.4m) for the month of May, a 25% rise from the previous month.
Although this may look like green shoots of life emitting from Asia's casino capital, revenue was still down 68% from the same month last year.
April 2022 was the worst month for gaming revenue since September 2020, with Macau posting revenues of just MOP2.6bn.
The five-month rolling average from the start of 2022 still has Macau down 44% year-on-year, despite this recent upturn.
What’s more, May played host to a five-day Labour Day holiday, boosting gaming revenue in the short term. However, visitation for this typically busy period was down 18% with 136,647 visitors reported.
Although some travel bans have been eased between Macau and Guangdong province as Covid cases ease, the virus is still being imported from other major jurisdictions, including Shanghai and Beijing.
This is hurting Macau’s six concessionaires, who are facing daily revenue losses as liquidity continues to dry up.
Recently, it was revealed unemployment rates in Macau had risen by almost 5%, as the region’s flagship industry continues to be hamstrung by measures taken by the Chinese Government.
Associate Professor at the University of Macau, Glenn McCartney, said: "We are the most reliant city in the world on tourism. Of course, we didn't have any other industries to fall back on.
President of the Philippine Amusement and Gaming Corp (PAGCOR), Alfredo Lim, announced he was “shocked to read there was violence and intimidation” reported at the Okada Manila
"Given that we didn't diversify for 20 years. It isn't going to happen tomorrow. There's no quick fix."
PAGCOR President “shocked” by alleged violent takeover at Okada Manila
President of the Philippine Amusement and Gaming Corp (PAGCOR) Alfredo Lim has said he was “shocked to read there was violence and intimidation” reported at the Okada Manila.
As reported by Gambling Insider, an incident supposedly took place on 31 May 2022 between the sitting managers of Okada Manila and its founder and CEO, Kazuo Okada.
The group led by Okada claimed to once again be in control of the casino, after being removed from the Tiger Resort, Leisure & Entertainment (TRLEI) in 2017, following accusations he misappropriated $3m of operator funds.
Okada had, though, since been acquitted by the Philippines’ Court of Appeals and legally reinstated as the Director and CEO of Okada Manila.
This was, seemingly, still pending an Urgent Motion for Reconsideration from TRLEI’s sitting management which opposed Okada’s legal victory, until a group associated with Okada allegedly stormed the casino by force.
Following these allegations and a slew of video evidence reported to Filipino television – detailing skirmishes and raised voices outside Okada Manila – PAGCOR has announced it will investigate the incident before taking appropriate action.
And TRLEI officials, who claim to have been forced out of the casino, have announced their immediate intention to file criminal charges.
With all this in mind, the immediate future of Okada Manila looks far from certain.
APT Events purchases Asian Poker Tour from Asianlogic Group
“For some time now, we have been looking to pass APT to a dedicated and focused poker organisation that is capable of taking the tour to the next level” Jeff Mann, CEO, Asian Poker Tour
Asianlogic Group has announced the sale of Asian Poker Tour (APT) to newly formed company APT Events Private Limited.
Founded in 2008, APT is a known brand in Asia’s iGaming market, with the next tournament expected to take place in mid-June 2022 at the Grand Vista Hotel in Hanoi, Vietnam.
The tour’s current CEO, Jeff Mann, has announced his intention to remain at Asianlogic and will therefore step down from his role.
He said: “For some time now, we have been looking to pass APT to a dedicated and focused poker organisation that is capable of taking the tour to the next level.
“With such a long and rich tradition, it was of the utmost importance that any partnership or sale would only go to an organisation with the same passion and dedication to continue developing the Asian Poker Tour as we always envisioned.”
The tour’s new owner, APT Events, hopes to take APT to “new heights.”
PointsBet shakes up Global Leadership Team
Australian operator PointsBet Holdings has announced the transition of its President Manjit Gombra Singh to a Non-Executive Director as of 1 June 2022.
Singh, the former Chief Technology Officer and Executive Vice President of Aristocrat, became President in July 2019. He transitions roles after almost three years.
Replacing Singh is Jerry Bowskill, who will join PointsBet as Group Chief Technology Officer on 18 July 2022.
Bowskill is a former Chief Technology Officer at both The Star Group and Scientific Games, holding similar senior roles at Playtech, Gaming Technologies Solutions and Partis Solutions.
Elsewhere, Andrew Catterall is expected to join PointsBet as Australian CEO on 4 July 2022. The former CEO of Racing.com has experience in broadcasting, digital media, rights acquisition and audience development.
Missed a big gambling industry story in Asia? Don't worry, Gambling Insider has you covered with our Asia round-up.
