Gaming operators set to up non-gaming investment as early as next year
Monday 04 de December 2023 / 12:00
2 minutos de lectura
(Macau).- Macau’s six gaming operators are on course to increase their pledged non-gaming investment by 20 percent as early as next year, the latest figures from the city’s casino watchdog suggest.
According to the Gaming Inspection and Coordination Bureau, Macau has accumulated up to MOP164.49 billion (US$20.44 billion) in gross gaming revenue over the past 11 months – about MOP15.51 billion shy of the MOP180 billion threshold required to validate the contractual condition.
Gaming revenue for November receded to MOP16.04 billion from a post-pandemic record set in October.
“It’s definitely within reach because December is traditionally better than November, and this time there are five weekends,” said gaming analyst Alidad Tash of 2NT8. “I think we are definitely going to hit it.”
The contractual condition was first disclosed to the public late last year in company filings to the Hong Kong Stock Exchange.
In its budget for 2024, Macau authorities predict that casinos will generate an annual sum of MOP216 billion in gross gaming revenue next year – a recovery that is sufficient to lead the government back to a financial surplus.
“It’s going to happen, even next year. The government number is MOP216 billion, which already exceeds the MOP180 billion required to trigger this. It’s just a matter of formality,” Tash added.
The six gaming companies committed themselves last year to MOP108.7 billion to develop non-gaming offerings and expand the international market in order to secure licences to continue their operations for another 10 years.
It accounts for the majority of the total investment pledged by them. Each of them has already been entrusted with taking care of the revitalisation of a culturally significant district of Macau.
Categoría:Gaming
Tags: Sin tags
País: Macao
Región: Asia
Event
GAT EXPO CARTAGENA DE INDIAS 2024
09 de April 2024
Casino Garage: committed to sustainability
(Cartagena de Indias, Exclusive SoloAzar) - Meet Ester Tarres, the visionary behind Casino Garage, a world leader in refurbishing second-hand slot machines since its creation in 2006. With a team of professionals, Casino Garage has become synonymous with excellence. In this article, Ester tells us about her presence at the GAT Expo, held from 9 to 11 April.
Tuesday 07 May 2024 / 12:00
Responsible Gaming, Regulation and Certification in Latin America and the Caribbean
(Cartagena de Indias, Exclusive SoloAzar). - Karen Sierra-Hughes, Vice President for Latin America, the Caribbean and Spain at GLI (Gaming Laboratories International), led the GLI Corporate Conference: Technology and Sustainable Gaming. With her extensive experience as a gaming regulatory consultant in the region, Karen offered key perspectives on how technology can drive sustainability in the gaming industry.
Tuesday 07 May 2024 / 12:00
Unveiling innovations: WA.Technology's highlights from GAT Expo 2024
(Cartagena de Indias, SoloAzar Exclusive).- In an exclusive interview with Patricio Molloy, Business Development Latam at WA.Technology, we delve into the latest offerings showcased by this leading gaming solutions supplier firm at the GAT Expo Cartagena 2024. From a comprehensive iGaming platform to cutting-edge AI integration, discover how this company is shaping the future of gaming experiences in Latin America and beyond.
Monday 06 May 2024 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.