Gaming operators set to up non-gaming investment as early as next year
Monday 04 de December 2023 / 12:00
⏱ 1 min read
(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
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