Asia round-up: Macau misery, SJM, Donaco & Osaka casino project

Macau’s gross gaming revenue (GGR) is down 84% when compared to last month, as the region's Covid restrictions take their toll. 

asia news round up macau gloomy gambling insider web image

According to data from the Gaming Inspection and Coordination Bureau (DICJ), Macau generated MOP$398m (US$49m) for July, the city’s worst monthly performance since the pandemic began. 

This also represents a 95% year-on-year drop in GGR, falling from MOP$8.44bn, and continues a general downward trend. 

For June, Macau reported MOP$2.47bn, which constitutes a 62% decrease year-on-yearwhile May and April saw the city post 68% GGR losses. 

So far this year, every month except February has seen Macau post double-digit GGR decreases when compared to 2021. 

Much of this can be attributed to Macau’s enforcement of China’s Zero Covid policy. An outbreak in mid-July saw the city once more plunged into lockdown, with casinos among those properties forced to close. 

While this only lasted for less than two weeks, with casinos opening on Saturday 23 July, other restrictions remain and their negative financial impact has been enormous. 

SJM Holdings net gaming revenue falls 25% for H1 2022 

SJM Holdings has published its unaudited consolidated interim H1 results, reporting significant losses and falls in revenue. 

“According to data from the Gaming Inspection and Coordination Bureau (DICJ), Macau generated MOP$398m (US$49m) for July, the city’s worst monthly performance since the pandemic began” Macau’s Gaming Inspection and Coordination Bureau, Official Data

For H1 2022, total group revenue fell year-on-year to HK$4.13bn (US$525.9m), representing a decrease of 21%. 

Net gaming revenue for H1 2022 amounted to HK$3.81bn, a fall of 25%. 

Adjusted EBITDA for the period stood at HK$1.17bn, a significant decrease of 131%. Meanwhile, loss attributable to owners of the company was HK$2.75bn, compared to the previous year’s total of HK$1.46bn, representing a swing of 88%. 

Donaco’s Star Vegas reopens following Cambodian Government approval 

Donaco International’s Star Vegas casino resort has reopened after Cambodia’s Government lifted the temporary closure of casinos in the Banteay Meanchey province, where Star Vegas is located.  

The casino had been closed since 27 April 2021, owing to Covid-19 lockdowns and travel restrictions.  

Donaco notes operations have returned on a limited scale at the Star Vegas, with plans for full operational recommencement expected soon. 

The Star Vegas is expected to receive an immediate lift regardless, given that Cambodia’s border with Thailand has been reopened.  

Pre-pandemic, a large portion of Cambodia’s gaming tourists came from Thailand.

Osaka IR referendum proposal rejected by prefectural assembly

Japan’s Osaka prefecture has seen a proposed referendum – to decide whether an integrated resort (IR) should be built in the region – rejected. 

The vote was turned down by Osaka’s prefectural assembly after opposition came from two political groups, the Osaka Restoration Association and Komeito. The two parties control a combined 73 of 84 seats on the prefectural assembly. 

An anti-casino group in the region had planned to vote against the proposition to build an IR – initiating the referendum debate – after gathering 190,000 signatures from local voters. 

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