Asia weekly round-up: Macau visitations, The Star, MGM China & more

We bring you the latest from Asia this week, with news from Macau, Australia, The Star, MGM China and SkyCity Entertainment... 

macau_roundup

Macau visitation drops 32% year-on-year in Q4 2022 

Macau’s Q4 2022 visitation figures fell by 32% year-on-year, with 1.4 million visitors entering China’s gaming capital during that time.  

This may come as a surprise, but it is worth noting that China did not fully abolish its stringent lockdown protocols until the start of 2023. Q4 2022 very much represented a time in which Macau was firmly under lockdown protocols. 

Hotel occupancy rates for Q4 2022 were also only at 41%, with just over 37,000 visitors touching down in Macau during the period from September-December 2022.  

Australian gambling law firm Senet onboards Bree Ryan 

Senet, an Australian law firm specialising in gambling, has added former Deputy General Counsel of Wagering and Media at Tabcorp, Bree Ryan, to its team of associates.  

Ryan joins other colleagues from Tabcorp who have moved to Senet, as well as Senet Principals Julian Hoskins and Daniel Lovecek – as well as Senior Associate Caitlin McCombe.   

Ryan comes from a background in the betting industry, with experience at Sportsbet and the law firm Minter Ellison, as well as Tabcorp. 

Read more here... 

The Star Entertainment Group revenue down 1% for H1 FY23 

The Star Entertainment Group has reported a 1% decline in group revenue on pre-Covid levels for H1 FY23. 

The operator noted that earnings have been impacted by operational changes arising from the Bell and Gotterson Reviews, a step-up in remediation costs and increased competition in Sydney.  

The Star expressed that while its Queensland casinos performed strongly in the period, the operating environment in Sydney has been more challenging. 

Read more here... 

MGM China posts net revenue of HK$5.3bn for FY2022 

MGM China Holdings has released its unaudited 2022 annual financial report. The company published figures from both the final quarter of 2022 and the entire fiscal year. 

The operator posted net revenue of nearly HK$5.3bn ($680m), representing almost half of its net revenue when compared to the previous fiscal year. MGM China reported a negative adjusted EBITDA that reached HK$1.3bn. 

Read more here... 

SkyCity Entertainment H123 revenue up 60% 

SkyCity Entertainment Group has reported revenue of NZ$462.6m (US$290.9m) for the six months to 31 December 2022 (1H23), a 60% increase from the prior-year period. 

Net profit after tax (NPAT) climbed 168% year-on-year to NZ$22.8m, with EBITDA rising 421% year-on-year to NZ$106.3m. 

A total of 58% of revenue arose from its Auckland operations, with 28% from Adelaide, 8% from Hamilton and 1% from Queenstown. The group’s international business accounted for 3% of total revenue, with online accounting for 2%. 

Read more here... 

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