Macau resort updates
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Nine hotels were under construction in Macau as of the June 2023 quarter, potentially providing the city with 3,732 additional hotel rooms in the future, according to the latest figures from the Macau Land and Urban Construction Bureau. Another eight hotels were in the design stage, the agency added.
Of the nine hotels under construction, seven are located on the Macau peninsula and two on the Cotai reclamation area, including the Cotai Strip. The gross floor area of the additional 3,732 hotel rooms will be 221,113 square meters, with 1,361 parking spaces provided for light motor vehicles and 376 spaces for motorcycles.

The two hotels under construction on the Cotai reclamation area – believed to reference Galaxy Macau Phase 4 and Studio City’s W Macau – will provide the majority of the new room supply with 2,808 hotel rooms.

Source: https://www.asgam.com/index.php/2023/07/31/nine-new-hotels-comprising-3732-hotel-rooms-under-construction-in-macau-as-of-2q23/

In an historic move, Macau’s ‘Big Six’ Casino operators have been granted ten-year extensions of their gaming licenses in exchange for a commitment to invest $14.9 billion U.S. dollars over the next decade, with 90% of that directed towards non-gaming attractions and experiences.

Globally renowned design firm Legacy Entertainment has positioned itself at the forefront of this effort, and is currently developing a slate of ambitious Theme Park, Water Park, and Attraction products tailored specifically for the Macau market. Most recently, Legacy completed the design of a 30,000 square meter Indoor Theme Park for one of the city’s largest integrated resorts.

“Working shoulder-to-shoulder with icons like Galaxy’s Francis Lui and Melco’s Lawrence Ho has been among the highlights of my career. Together, we’ve helped shape the landscape of modern-day Macau. My entire team and I are thrilled to continue working in one of our favorite markets as Macau enters this new era,” says Taylor Jeffs, President & Chief Creative Officer of Legacy Entertainment, one of Macau’s most notable entertainment design consultants.

For nearly 15 years, the Legacy team has had a major presence all throughout the Pearl River Delta, with its principals having served as lead design consultants for both Galaxy Macau, which opened in 2011, as well as Studio City Macau, which debuted in 2015. Just across the river, the Legacy Entertainment team was also responsible for the design of the Chimelong Marine Science Park, a colossal 370,000 square meter complex that will claim the title of “World’s Largest Indoor Theme Park” upon its debut later this year.

The outlook is optimistic for Asia’s gaming capital of Macau. Last month, the territory’s six largest casino operators saw revenue increases up to 36%, with a full recovery to pre-pandemic levels anticipated to take two years. Historically, non-gaming revenue has only accounted for less than 15% of the local government’s revenue, so this shift in priorities will fundamentally change the way Macau exists.

“The goal now is different than it was when we started designing Galaxy Macau in 2006, and Studio City Macau in 2011,” Jeffs adds. “Back then, the mandate was to create the world’s most compelling gaming destination. Now we’re out to simply create one of the world’s top entertainment destinations for all ages. It’s a tall order, but I am confident my brilliant team of collaborators is up to the challenge.”

Las Vegas Sands Corp. will invest at least $3.8 billion in new facilities in Macau over the next ten years as part of the renewal of its concession to operate casinos in the market.
About 92% of the planned spending will be in non-casino attractions, including meeting space, entertainment facilities and a new garden attraction, Sands said in a presentation to investors Wednesday.

Source: https://www.bnnbloomberg.ca/sands-promised-3-8-billion-macau-investment-as-part-of-license-renewal-1.1874946

Galaxy Macua is making good progress, we haven't seen too much of this construction site which seems weird considering it's location!

Wynn Resorts: Navigating Market Volatility for Potential Investment Opportunities

When Wynn Resorts Limited (WYNN) gained 4.55% early this January, it has drawn interest and many investors began to wonder if Wynn Resorts was a stock to watch. However, the company's stock has now fallen on Thursday, underperforming the market according to Marketwatch.

Wynn Resorts is a leading developer and operator of high-end hotels and casinos. The business runs a luxury hotel and casino resort in Macau, an ex-Portuguese colony that is now a special administrative area of China, as well as two in Las Vegas. The resorts attract both business and leisure tourists due to their unique dining establishments, high-end shopping options, and world-class entertainment options.

Several causes, including excellent news regarding the company's financial performance, hope for the future expansion of the gaming sector, and general market conditions, might be to blame for the recent rise in the stock price. However, a variety of factors including a change in market sentiment, recent industry changes, or the performance of the firm, might be to responsible for the recent downturn in stock price.

Wynn Resorts has a history of strong financial performance and has consistently delivered growth for its shareholders. In the past year, the company has focused on expanding its presence in the Asian market, particularly in Macau, which is one of the world's most prominent gaming destinations. The company's financials have also been helped by its commitment to cost control and efficiency, which has allowed it to maintain profitability even in tough economic times.

Despite the recent drop in stock price, given its track record of strong performance and its focus on growth, Wynn Resorts could still be a stock worth watching for investors. However, it's important to keep an eye on the company's performance and market conditions, and do thorough research, and consider your own investment goals and risk tolerance before making any investment decisions.

In conclusion, Wynn Resorts Limited was a stock that gained attention earlier this Jan due to its stock price increase. Despite the recent drop in stock price, with its history of strong financial performance, focus on growth, and commitment to efficiency, the company could still be a stock to watch for investors looking for opportunities in the gaming industry. However, it's crucial to stay informed and make well-informed investment decisions.
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PHOTO:https://www.wynnresorts.com/
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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/