Retendering21-22

 may24 Macau concessionaire SJM Holdings  released its 1Q24 financial results  on Thursday, with revenue and EBITDA improvements largely in line with expectations. But one lingering concern remains the slow ramp of the company’s US$5 billion Cotai integrated resort Grand Lisboa Palace (GLP), with analysts becoming increasingly hesitant in touting its short-term growth prospects – particularly in regard to market share. In a Friday note, investment bank JP Morgan said it is “not (yet) convinced that GLP can garner its target share of 5% in the coming years,” and has revised its earnings estimates accordingly. Likewise, Vitaly Umansky of research house Seaport described the ramp-up of GLP as “tepid” at 2.0% market share in Q1, and noting that had it not been for high hold in VIP, share would likely have been 1.9%. He did, however, note comments from SJM management that market share may have approached 2.2% in April. https://www.asgam.com/index.php/2024/05/10/analysts-not-convinced-sjms-g

apr24 HK Hong Kong has been Macau’s second-largest tourist market, and its players make a relevant contribution to its gross gaming revenue (GGR). An expert told AGB that an increasing trend of spending in mainland China by visitors from Hong Kong would likely have “few” impacts on Macau’s gaming revenue. Nelson Kot, the president of the Macau Comprehensive Social Research Association Speaking to AGB,  Nelson Kot , the president of the Macau Comprehensive Social Research Association, stated that the reshaping consumer market in Hong Kong may influence the choice of Hong Kong visitors, but he doesn’t think this will have much impact on Macau’s gaming revenue thus far. “Macau’s attractiveness varies depending on the type of tourists. Compared to mainland China, Macau might not be very appealing to family visitors. However, the GGR should not be affected because players from Hong Kong are typically either single or in couples,” he said. https://agbrief.com/intel/deep-dive/29/04/2024/north

may24 The growing use of so-called ‘smart tables’ for traditional casino table games in the Macau market and beyond – offering the potential for player-data acquisition as well as game security – was “quite a big change” for the industry, said Simon Johnson (pictured), senior vice president and managing director – international, at casino technology firm Light & Wonder Inc (L&W). He was speaking on Tuesday in an interview with GGRAsia. Electronic gaming machines (EGMs), including electronic table games of the sort supplied by Light & Wonder and its market competitors – whether fully automated or with a live dealer –, are already recognised for their ability to deliver a high number of decisions per hour, and to generate betting and bet settlement without errors. Mr Johnson stated, regarding the growth of traditional-table ‘smart’ play: “We need to take [that] into account as we think about our development roadmaps and about the future of our tables.” https://www.ggrasia.com