Macau resort updates
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Macau casino concessionaire Galaxy Entertainment Group (GEG) has awarded the sub-contract for façade works on its Galaxy Macau Phase 4 development in Cotai to China State Construction Development Holdings Limited in a deal described as “the largest single contract amount of façade construction contract in the world.”

The company’s wholly-owned subsidiary Far East Facade (Macau) Limited will take on the HK$2.24 billion (US$285 million) project, marking the latest in a series of substantial development projects for China State Construction in the region. Its previous Macau work has included Wynn Palace MGM Cotai and The 13, while it also developed Parq Resort & Casino in Vancouver, Canada.

Providing an update on Galaxy Macau’s expansion work during its most recent earnings update for the March 2021 quarter, GEG confirmed that Phase 3 is now effectively completed and will open gradually from later this year, while work is “well underway on Phase 4."

“Phases 3 & 4 combined will have approximately 3,000 high-end and family rooms and villas, 400,000 square feet of MICE space, a 500,000 square feet 16,000-seat multi-purpose arena, F&B, retail and casinos, among others. As you can see, we remain highly confident about the future of Macau where Cotai Phases 3 and 4 will support Macau’s vision of becoming a World Centre of Tourism and Leisure.”

Source: https://www.asgam.com/index.php/2022/06/10/galaxy-awards-largest-facade-construction-contract-in-the-world-for-galaxy-macau-phase-4/

Macau Theme Park And Resort, the operator of Cotai-based non-gaming resort Lisboeta Macau, has announced “H853 Fun Factory” as the official name of its shopping mall.

According to details released Friday, the “H” in the new name is reference to the word “home” with the property paying tribute to Macau’s history, while 853 refers to the presence of 80% local brands, five exclusive attractions and “three different space-time journeys under the sky light” that comes through the glass canopy.

Lisboeta Macau describes its shopping mall experience as “retail-tainment”, featuring retail, dining, art exhibitions and cultural experiences plus a zipline attraction, indoor skydiving facility, night market and more.

Source: https://www.asgam.com/index.php/2022/03/21/shopping-mall-at-lisboeta-macau-to-be-called-h853-fun-factory/

The promoter of the Galaxy Macau casino resort has again altered its language regarding a possible opening date for elements in Phase 3 of the property, to the “end of this year or early next year,” compared to “early 2022? as mentioned in August. But bosses at Galaxy Entertainment Group Ltd pointed out it was difficult to give a firm timetable under current market conditions.

Lui Che Woo, group founder and chairman, said regarding Phase 3, in comments during the online press conference to discuss the firm’s fourth-quarter and full-year earnings on Wednesday: “We hope to be able to open for business by the end of this year, but whether it is going to be the end of this year or early next year we will let you know in due course.” He added. understood to be a reference to ongoing travel disruption for tourists inbound to Macau, amid the Covid-19 pandemic: “There are things that are not in our control”.

In August, the company had said that Raffles (pictured centre, in a file photo), a hotel within Phase 3, might open in “early 2022”.

The vice-chairman said in his comments regarding Phase 3, during the second-half and full-year results press conference: “Basically our construction has been done. We are now taking delivery of the works, and are now working with the government departments concerned. We will support the government, so that the permits will be issued in a timely manner for us.”

Source: https://www.ggrasia.com/galaxy-macau-phase-3-might-open-only-end-2022-mgmt/

The 6,000-seat arena at The Londoner Macao casino resort is set to open this year, said Robert Goldstein, chairman and chief executive of the property’s promoter, Sands China Ltd. His comments were included in the company’s preliminary 2021 annual results, filed on Friday to the Hong Kong Stock Exchange.

Source: https://www.ggrasia.com/londoner-macao-arena-to-open-in-2022-sands-china-ceo/

The Executive Director of Wynn Macau, Linda Chen, has confirmed today (Dec 2021) that the gaming operator will gradually end its agreements with third-party VIP gaming promoters companies before the end of the year, a decision she considered was “conducive to the long-term and healthy development of Macau”, Chinese-language newspaper Macao Daily reported.

According to the report, Wynn’s also Chief Operating Officer and Vice-Chairman indicated that mass-market represents Wynn’s main core business, accounting for 75 per cent of its total gaming results this year, with the concessionaire focusing on developing this segment and converting VIP rooms will be converted to different “mass-market uses” and “diversified experience facilities”.

Amid the latest development of the sector, Wynn Macau – together with Sands China and Melco Resorts — was reported to be planning to close all their VIP rooms run by junkets before the end of this year.

Source: https://www.macaubusiness.com/wynn-to-convert-its-junket-operated-vip-rooms-into-mass-market-experiences-vice-chairman/

All six Macau casino operators have expressed support to the newly announced gaming law amendment bill.

MGM China, Sands China, Wynn Macau, SJM Resorts, Melco Resorts & Entertainment and Galaxy Entertainment Group issued statements this weekend welcoming and backing the Government’s announcement, which indicates a maximum of six gaming concessionaires and a concession term of up to 10 years with a possible 3-year extension under exceptional circumstances.

Source: https://www.macaubusiness.com/updated-all-gaming-operators-express-support-to-gaming-law-amendment-bill/

The first W hotel is destined for Macau...

W Macau - Studio City, a development in partnership with Melco Resorts & Entertainment, is scheduled to open in December 2022. Located on the Cotai Strip, the W Macau will be part of Studio City Phase 2, a multi-complex development that includes indoor and outdoor water parks, cineplexes and convention, event and meeting facilities.

Plans for the hotel call for 557 guestrooms (including 127 suites), a spa, a fitness center, an indoor swimming pool, and more than 3,600 square feet of event and meeting space.

Source: https://www.travelweekly.com/Travel-News/Hotel-News/Marriott-inks-deal-for-first-W-hotel-in-Macau

Some personnel changes coming to Wynn Macau Ltd.

Craig Billings is to take over on February 1 as chief executive of Macau casino operator Wynn Macau Ltd, according to a Friday filing by the latter to the Hong Kong Stock Exchange. The same day, Mr Billings will also become the chief executive of the United States-based parent, Wynn Resorts Ltd, taking over from Matt Maddox, who is leaving the parent to pursue other interests.

As previously announced, Mr Maddox is remaining on the Wynn Macau Ltd board until December 31, 2022 – but as a non-executive director – to assist with matters linked to the expiry in June next year of the brand’s current Macau gaming rights.

Mr Billings’ previous experience in the gaming industry includes work as chief digital officer and managing director of strategy and business development at slot machine and gaming content provider Aristocrat Leisure Ltd.

Source: https://www.ggrasia.com/craig-billings-takes-over-as-wynn-macau-ltd-ceo-from-feb-1/

The effect of the junket crack down is really starting to show.

Macau’s gaming regulator has issued an instruction to junket operators to stop offering credit to their customers and requesting that chip purchases can only be done for upfront cash. The order from Macau's Gaming Inspection and Coordination Bureau (DICJ) would effectively bar all junkets from providing loan services to VIP gamblers.

The notice comes following a Bloomberg report that Wynn Resorts and Melco Resorts would close their junket rooms by December 20 and December 21, respectively. ‘Some (if not all) other casino operators may also follow Wynn’s move with respect to the junket room operations,’ stated a note published by Sanford C. Bernstein.

Carlos Lobo, a Macau-based gaming consultant, said if the Macau government did make junkets stop offering credit to clients, it would mark the end of an era.

"If this is true, the junkets will have to operate as a travel agency, through activities such as receiving fees for bringing rich clients to casino operators, rather than receiving commissions from VIP gaming rooms which have been the main business model for years," he stated, as reported by Reuters.

Source: https://www.yogonet.com/international//news/2021/12/07/60507-macau-regulator-bans-junket-operators-from-offering-credit-wynn-and-melco-would-close-vip-rooms

Macau casino stocks lose almost US$5 billion in sell-off as China’s gambling crackdown snares junket boss

Macau casino stocks tumbled, erasing US$4.8 billion of market value in Hong Kong, as the arrest of the head of the biggest junket operator in the gambling hub revived concerns about Beijing’s increased scrutiny of the industry.

Sands China and Galaxy Entertainment, the two gaming stocks on the benchmark Hang Seng Index, dropped more than 5 per cent on Monday, extending a sell-off on Friday that was spurred by the emerge of the Omicron virus strain. MGM China sank 10 per cent. The losses were much wider than the index’s 1 per cent decline.

“Macau’s go-go years do seem over,” said Steve Vickers, a risk management consultant at Steve Vickers & Associates and a former Hong Kong policeman. “Investors in the casino businesses should manage expectations accordingly.”

Suncity’s junket revenue will probably drop by 30 to 50 per cent in coming weeks, according to JPMorgan Chase, calling the detention “really bad” for the industry. Suncity accounts for about 45 per cent of the junket market, or 15 per cent of Macau’s total gross gaming revenue in 2019, it said.

Source: https://sportsgrindentertainment.com/macau-casino-stocks-lose-almost-us5-billion-in-sell-off-as-chinas-gambling-crackdown-snares-junket-boss/