Monthly Archives: July 2024

Presenting an Authentic and Immersive Macau Experience to Visitors Under One Roof

KUALA LUMPUR, Malaysia, July 5, 2024 /PRNewswire/ -- Galaxy Macau, The World Class Integrated Resort ("Galaxy Macau"), has been actively supporting and participating in Macau SAR Government's promotional activities, and continuously working with the government and industry partners to expand international visitor sources. The "Experience Macao Malaysia Roadshow", organised by the Macao Government Tourism Office, was officially launched on 5 July 2024 in Kuala Lumpur at Sunway Pyramid Shopping Mall. The four-day event (5 to 8 July) aims to showcase the diverse tourism products in Macau to international tourists, attracting travellers to choose Macau as a travel destination. Galaxy Macau is also shining with its exciting tourism products by presenting its unparalleled luxury offerings and its one-stop luxury resort experience as Asia's leading destination for leisure, entertainment, dining, events and conferences.

Galaxy Macauproudly supports and aligns with the Macao SAR government's efforts to extend Macau's reach into the Southeast Asian market. The world-class integrated resort's iconic booth at the Malaysia Roadshow, showcasing the grand landscape of the integrated resort. Visitors to the booth can not only enjoy the interaction and photo moment with the adorable GalaxyKidz mascot "Wavey" the Peacock at the photobooth, but also experience the unique charm of Macao's "tourism+" offerings, reflecting Galaxy Macau's commitment to promoting Macau as a World Centre of Tourism and Leisure.

There are also daily lucky draws during the roadshowwhere visitors can stand a chance to win prizes sponsored by Galaxy Macau.

Starting from MYR271++ per night, Galaxy Macau is offering roadshow-exclusive offers for stays between 12 July to 30 November 2024 from a selection of world class hotels Andaz Macau, Broadway Hotel, Galaxy Hotel, Hotel Okura Macau or Banyan Tree Macau. Booking period opens from 5 to 19 July 2024. Applicable to all five hotels, the offer includes free access to the Grand Resort Deck and free minibar, immersing guests in a comprehensive one-stop integrated resort experience.

A Macao Travel Trade Seminar & Minimart was also conducted at the Sunway Resort Hotel Ballroom on 4 July 2024 in conjunction with the "Experience Macao" Malaysia Roadshow, where guests were presented with the latest hotel information on Andaz Macau, Broadway Hotel, Galaxy Hotel, Hotel Okura Macau, Banyan Tree Macau, and Galaxy International Convention Centre (GICC).

Remaining the top integrated resort globally with the most Forbes five-star hotel honors under one roof Galaxy Macau spans over 1.1 million square-meters and is renowned for its unparalleled mix of entertainment and leisure attractions that are unmatched in Macau. With 8 award-winning world-class luxury hotels to choose from, guests are spoilt for choice. Water sports enthusiasts can make a splash at the 75,000-square-meter Grand Resort Deck the world's leading skytop oasis. Foodies meanwhile can indulge in a selection of over 120 dining options, ranging from Michelin-starred establishments to local street food legends; a delectable selection that has earned Galaxy Macau the distinction of being Asia's premier dining destination. For an authentic Asian street food adventure, guests can cross the link bridge to explore vibrant local and Asian cuisines at Broadway Food Street. Fashionistas will adore Galaxy Promenade, an award-winning shopping destination spread over 100,000 square-meters. Luxury flagship stores, designer boutiques and high-street labels contribute to over 200 world-renowned luxury fashion and lifestyle brands. For live performances and events, the 2,500-seat Broadway Theatre plays host to a diverse range of live shows, events and cultural activities from around the world with up-close and personal experiences. Galaxy Macau opened two world-class hotels Raffles at Galaxy Macau and Andaz Macau, with GICC as its latest addition to the Group's ever-expanding integrated resort precinct, ushering a new era for the MICE industry in Macau. GICC is a world-class event venue featuring 40,000 square-meters of total flexible MICE, and a 16,000-seat Galaxy Arena the largest indoor arena in Macau. In April 2024, Galaxy Macau also announced the launch of Capella at Galaxy Macau, further solidifying the destination's undisputed reputation as Macau's Ultimate Luxury Integrated Resort.

Galaxy Macau has always adhered to its "World Class, Asian Heart" service philosophy to offer exceptional experiences for guests from all around the world. As the city gears up for a continuing wave of international tourism, Galaxy Macau looks forward to welcoming visitors with award-winning accommodations, unforgettable leisure experiences, and unparalleled shopping, dining and entertainment all under one roof. In the future, Galaxy Macau will continue to launch more world-class events to enhance Macau's positioning as a World Centre of Tourism and Leisure.

More high-res images of the Experience Macao Malaysia Roadshow can be found in the virtual media kit.

About Galaxy Macau Integrated Resort

Galaxy Macau, The World-class Luxury Integrated Resort delivers the "Most Spectacular Entertainment and Leisure Destination in the World". Developed at an investment of HK$43 billion, the property covers 1.1 million-square-meter of unique entertainment and leisure attractions that are unlike anything else in Macau. Eight award-winning world-class luxury hotels provide close to 5,000 rooms, suites and villas. They include Banyan Tree Macau, Galaxy Hotel, Hotel Okura Macau, JW Marriott Hotel Macau, The Ritz-Carlton, Macau, Broadway Hotel, Raffles at Galaxy Macau, Andaz Macau. Unique to Galaxy Macau, the 75,000-square-meters Grand Resort Deck features the world's longest Skytop Adventure Rapids at 575-meters, the largest Skytop Wave Pool with waves up to 1.5-meters high and 150-meters pristine white sand beach. Two five-star spas from Banyan Tree Spa Macau and The Ritz- Carlton Spa, Macau help guests relax and rejuvenate.

As the dining destination in Asia, Galaxy Macau offers a wide variety of gastronomic delights, exquisite experiences and ingredients of the finest quality with over 120 dining options from Michelin dining to authentic delicacies; Galaxy Promenade is the hottest shopping destination featuring the latest in fashion and curated experiences in Macau. Spanning over 100,000-square-meters, luxury flagship stores, lifestyle boutiques and our selection of labels are among the more than 200 world-renowned brands for a world-class shopping journey; Galaxy Cinemas, immersive thrills and luxurious comfort go hand in hand at Galaxy Cinemas. All 10 theaters are equipped with the latest audio-visual technology; CHINA ROUGE, one-of-a-kind deluxe lounge that evokes the glitz and glamor of Shanghai's golden era with entertainment in luxury and style; and Foot Hub presents the traditional art of reflexology to make you feel more relaxed and revitalized. For Authentic Macau Flavours & Vibrant Asian Experiences, Broadway Macau just a 90-second walk via a bridge from Galaxy Macau, has over 35 Authentic Macau & Asian Flavours at its Broadway Food Street. The 2,500-seat Broadway Theatre plays host to world-class entertainers and a diverse array of cultural events. Meeting, incentive and banquet groups are also well looked after with a portfolio of unique venues in Galaxy Macau and a professional service staff.

Galaxy International Convention Center (GICC) is the latest addition to the Group's ever-expanding integrated resort precinct and will usher in a new era for the MICE industry in Macau. GICC is a world- class event venue featuring 40,000-square-meter of total flexible MICE, and a 16,000-seat Galaxy Arena the largest indoor arena in Macau.

For more details, please visit http://www.galaxymacau.com,www.broadwaymacau.com.mo and http://www.galaxyicc.com

SOURCE Galaxy Macau Integrated Resort

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Galaxy Macau, The World Class Integrated Resort, Brings the "Experience Macao Malaysia Roadshow" to Kuala Lumpur - PR Newswire

Posted on: July 9, 2024, 03:23h.

Last updated on: July 9, 2024, 03:23h.

Following a surprisingly soft June gross gaming revenue (GGR) report in Macau, an analyst modestly pared price targets on Las Vegas Sands (NYSE: LVS) and Wynn Resorts (NASDAQ: WYNN), though he remains constructive on both casino stocks.

In a new report to clients, Macquarie analyst Chad Beynon revealed new price forecasts on Sands and Wynn of $58 and $126, respectively, down from $60 and $128. For Sands, which is the largest Macau operator with five integrated resorts, that implies upside of 40% from the July 8 close. Beynons new price target on Wynn implies 12-month upside of 30%.

Overall, we believe consensus remains conservative, particularly for WYNN, which we believe can gain share. We continue to be bullish on the long-term growth prospects for Macau, and ranked Macau as our top sectors in our 2024 Gaming Prime, wrote the analyst.

He maintained outperform ratings on both Sands and Wynn as well as MGM Resorts International (NYSE: MGM). MGM owns of 56% of MGM China, which runs two Macau casino resorts. Macquaries price target on that stock remained unchanged at $58.

While the June numbers came in below expectations, Macaus GGR is trending in the right direction. For the second quarter, the combined figure was $7.1 billion, or 23% below the comparable stretch in 2019 the last year prior to the coronavirus pandemic. Thats slightly better than first-quarter GGR, which was 25% below the same timeframe in 2019.

Annual visits to the Asian casino center trended higher in the decade ending 2019, peaking at 39.40 million in that year, but in 2023, that number was 28.21 million. That implies theres still a long runway for Macau operators to get back to pre-pandemic norms and, if that goal is achieved, Macau gaming equities could benefit.

Still, investors have exercised little patience with Macau equities in 2024 as the group is lower by 7% while the S&P 500 is higher by almost 17%. LVS, MGM and Wynn are all members of that index.

We expect July GGR to be ~$2.4 billion or -22% vs 2019. Looking at the 3- year pre-COVID average, July is typically +10% vs June, and we forecast July 2024E to be +8%, added Beynon. Looking ahead to 3Q, we are calling for $7.4 billion of GGR, which would imply +4% sequential, +20% year-over-year, and -17% vs 2019. Consensus currently calls for 3Q24E Macau EBITDA quarter-over-quarter to be as follows: LVS +3%, WYNN +1%, and MGM +0%.

Integral to the broader investment thesis for Sands and Wynn is the ability of those operators to capture more share among mass market bettors in Macau and leverage non-gaming amenities there. Those are relevant pursuits because the enclaves VIP market remains stagnant.

Theres evidence that the operators and rivals are accomplishing those objectives with Sands China proving particularly adept at capitalizing on non-gaming offerings while Wynn Macau has shown progress in pivoting to mass market players. Those could be among the reasons why Macaus 2024 GGR figure will be solid.

For 2024, we expect GGR of -20% vs 2019 (+28% YoY), or ~US$29.3bn, with mass continuing to run above pre-pandemic levels. With additional operator revenue growth in mass and non-gaming, we model for margin upside despite higher opex concessionaire commitments, concluded Beynon.

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Sands, Wynn Price Targets Lowered on Recent Macau Softness - Casino.Org News

Provisional data from the Macao Government Tourism Office (MGTO) indicates that the gambling city received 1.1 million international visitors in the first half of the year.

Talking to public broadcasting services TDMs Ou Mun Tin Toi, MGTO Deputy Director Ricky Hoi said Macau is on track to surpass 2 million foreign visitors in 2024. The predicted numbers are significantly higher than last year's 1.4 million, though still short of the 3 million visitors recorded in 2019.

Hoi also mentioned that MGTO is working to broaden its international visitor base through partnerships, such as organizing one-day visits to Macau for up to 500 passengers from cruise ships docking in Hong Kong.

Additionally, MGTO plans to launch a major tourism promotion campaign for Macau in the latter half of the year. In recent months, Macau has conducted roadshows in several international locations, including Thailand, Malaysia, Singapore, and Japan.

Even as the visitor inflow signals hopes of a business revival,Macau's gaming revenue slowed in June, impacted by fewer long holidays and cautious spending by Chinese tourists.

Gross gaming revenue (GGR) grew 16.4% year-on-year to 17.7 billion patacas ($2.2 billion), according to theGaming Inspection and Coordination Bureau. However, thisgrowth fell short of the median analyst estimate of a 17.5%increaseand represented a12.4% decline from May's figures. The revenue was also25.7% lower than pre-pandemic levels in 2019.

June is traditionally a slower periodfor Macau's casinos, with a dip in visitors following May's Golden Week holiday.In 2019,June's gaming revenue was 8% lower than in May.The decline in spending by Chinese tourists, who make up the largest visitor group to Macau, further contributed to the revenue slowdown.Economic uncertainty has led to more cautious spending among these visitors.

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Macau sees 1.1 million international visitors in first half of year - Yogonet International

Macaus Judiciary Police (PJ) reported a significant rise in gaming-related crimes, with 579 cases documented from January to May 2024, marking a 75.5% increase compared to the same period in the previous year.

Throughout these five months, there were 104 instances of loansharking and 17 related detentions, according to a report published by Inside Asian Gaming. These figures represent a significant year-on-year rise, with loansharking cases alone increasing by 86 and related detentions by 14. The PJ also noted a surge in theft and failure to report found objects, predominantly occurring in high-traffic gaming districts.

Moreover, gaming-related fraud cases saw an uptick, increasing by 52 cases to 130. The PJ highlighted that approximately 66.7% of these fraud cases were intricately linked to money exchange gangs.

From January to May, the PJ, in collaboration with the Public Security Police, apprehended 1,924 individuals associated with money exchange gangs. Of these, 927 were referred to the Gaming Inspection and Coordination Bureau (DICJ) to be placed on the list of individuals prohibited from entering casinos. Additionally, 30 Macau residents were identified for their involvement in illegal money exchange activities, leading to the initiation of administrative penalty procedures against them.

Despite these developments, the PJ noted that no cases of murder or kidnapping were recorded in Macau during this period, and serious crimes maintained a low occurrence rate, ensuring stable social security. However, the increase in crimes related to the gaming and tourism sectors, particularly fraud and information crimes, remains a concern.

Tourism Insights: Over 1 Million International Visitors in First Half of 2024

Provisional data from the Macao Government Tourism Office (MGTO) indicates that Macau received 1.1 million international visitors in the first half of 2024, as stated by MGTO Deputy Director Ricky Hoi.

The Deputy Director projected that Macau is on track to surpass 2 million foreign visitors by the end of the year. This forecast suggests a significant recovery from the 1.4 million visitors recorded in 2023, though it still falls short of the over 3 million international arrivals in 2019.

Hoi mentioned that the MGTO is actively working to diversify its international visitor base. One strategy involves partnering with cruise ship operators in Hong Kong to facilitate one-day excursions to Macau for up to 500 passengers.

According to Hoi, in addition to these efforts, the MGTO plans to launch an extensive tourism promotion campaign for Macau in the latter half of 2024.

In recent months, Macau has conducted a series of roadshows in international markets such as Thailand, Malaysia, Singapore, and Japan. These initiatives aim to boost the citys profile and attract more visitors from these regions.

The rise in gaming-related crimes juxtaposed with the efforts to revive international tourism highlights the complex dynamics Macau faces as it navigates the challenges and opportunities of 2024. While the increase in crime poses a significant issue for local authorities, the influx of tourists brings hope for economic recovery and growth in the post-pandemic era.

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Macau Sees 75.5% Surge in Gaming Crimes Amid Rising Tourism in 2024 - World Casino Directory

The 13 Hotel, an ultra-luxury establishment in Macau, has reopened its doors after years of dormancy and financial struggles. Despite its parent company being declared bankrupt and a failed auction attempt earlier this year, the hotel is now operating on a limited basis. According to TDM Radio Macau, the hotel still holds a valid operating license until December 31st, with a renewal expected between October and the end of the year.

The Macau Government Tourism Office (DST) has confirmed that the hotels reopening coincides with ongoing renovation works. The 13 Hotel, located at the end of the Cotai Strip, was initially envisioned by extravagant Hong Kong businessman Stephen Hung. The hotel struggled to attract clientele despite its grand aspirations, partly due to its inability to secure a partnership with one of Macaus six gaming operators for a satellite casino, according to Asia Gaming Brief.

In previous filings with the Hong Kong Stock Exchange, it was revealed that the hotels operator had been in discussions with Melco, an international gaming operator led by Lawrence Ho, about operating a casino. However, during the initial stages of the collapse of The 13s parent company, Melcos executive denied any involvement in helping the hotel establish a casino.

Challenges and Strategic Changes

The property, which underwent several name and management changesfrom Paul Y. Engineering to Louis XIII and later South Shore Holdingshas faced challenges, particularly with its location. As industry expert Ben Lee pointed out, the hotels distinctive yet questionable aesthetic failed to keep up with contemporary trends. The design, while it may have been appropriate at a certain point in time when they finally did get it built, was out of touch, Lee noted.

The 13 Hotel, recognizable by its cherry-red exterior and large faux diamond at the top, was meant to attract ultra-rich clients. Guests were shuttled in via a fleet of 30 custom-made Rolls-Royce Phantoms, which cost about $20 million. However, most of these luxury cars have since been auctioned off. The hotel also failed to target the ultra-rich segment accurately and could not offer a casino due to Chinas anti-corruption measures and Macaus table cap policies.

Current Status and Future Prospects

With 199 rooms, The 13 initially hoped for up to 66 gaming tables. Despite its financial woes, real estate group Jones Lang La Salle put the property up for auction at a starting price of HK$2.4 billion, but the attempt was unsuccessful. Now, the hotel is reopening with limited services while undergoing extensive renovations. The property is reportedly fully booked until late September, with bookings currently only accepted via phone or walk-in, as online bookings are unavailable.

Three restaurants are currently operational at the hotel, though parking and chauffeur services are unavailable. The propertys long-term prospects remain uncertain as it navigates financial recovery and renovation efforts. It remains to be seen how management will proceed and what the future holds for this once high-profile project.

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The 13 Hotel in Macau Reopens with Limited Services Amid Renovations - World Casino Directory

Good Morning. Few things were the same after the pandemic, particularly for the Macau market, which suffered the brunt of lockdowns and border restrictions. A new study examines how much the behavior of mainland Chinese punters playing in Macau changed and what new trends are emerging across the land-based and online space. Meanwhile, PAGCOR is seeing continued momentum from its gaming sector, propping up government revenues as the regulator remits its dues to the Treasury.

While the pandemic had a massive impact on the access of mainland Chinese gamblers to Macaus casinos, a recent study has revealed that the impact continues well beyond the end of lockdowns and border measures. The research found that many punters switched online, despite both China and Macau not allowing online gambling. It further examines changes in the demographics, education level, social standing and frequency of gambling by punters during and post-pandemic.

Online gaming fraud is on the rise in the iGaming industry. In Q1 2022, there was an 85% increase in fake account registrations compared to Q4 2021.While players are undoubtedly affected by gaming fraud, iGaming platformsalso suffer due to damaged reputations, huge financial losses, and legal consequences.

1xBetoperates in several dozen countries in Asia, and the number ofpartnersin this region isgrowing steadily, which indicates theeffectiveness of the1xPartnersaffiliate program. The brand offers favorableconditionsand a modern set oftools for making moneyon the Internet.

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Chinese punters' gambling behavior in Macau changed due to the pandemic - Asia Gaming Brief

Provisional tourism data shows that Macau welcomed 1.1 million international visitors in the first six months of the year, according to Macao Government Tourism Office (MGTO) Deputy Director Ricky Hoi.

Speaking with TDMs Ou Mun Tin Toi on Friday, Hoi said the data suggests Macau will exceed 2 million foreign visitors in 2024 well ahead of the 1.4 million who visited last year although still lagging the more than 3 million who arrived in 2019.

Nevertheless, he noted that the MGTO is currently working to expand its international visitor sources, including by way of a partnership that sees cruise ships docking in Hong Kong organize one-day visits to Macau for up to 500 passengers.

The MGTO will also present a large-scale tourism promotion ppan for Macau during the second half of the year, Hoi added.

Macau has in recent months organized a series of roadshows in international destinations including Thailand, Malaysia, Singapore and Japan.

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MGTO: More than 1 million international tourists visited Macau in first six months of 2024 - Inside Asian Gaming

Citigroup expects July GGR to reach MOP19bn (US$2.35bn).

Macau.- Analysts atCitigroup have estimated thatMacaus gross gaming revenue (GGR) for the first 7 days of July wasMOP3.85bn (US$478.8m). The daily run rate was down 12 per cent week-on-week, from MOP628m (US$78.32m) to MOP550m (US$68.51m).

With these figures, analysts expect Macaus July GGR to reach MOP19bn (US$2.35bn) or about 78 per cent of pre-Covid-19 levels. Analysts George Choi and Ryan Cheung said business is currently slow but is expected to improve around mid-July. They predicted that quarterly EBITDA will decrease by about 5 per cent quarter-on-quarter to US$1.95bn. The figure would be up about 18 per cent year-on-year.

In June, GGR was MOP17.69bn (US$2.20bn), up 16.4 per cent year-on-year but down12.4 per cent month-on-month. Cumulatively, Macaus GGR for the half of 2024 was MOP113.8bn (US$14.20bn), up 41.9 per cent year-on-year but 23.9 per cent below the same period in 2019.

See also: Macau gaming tax revenue up 67.2% in H1

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Macau GGR reaches US$478.8m in first 7 days of July - Focus Gaming News Asia Pacific

Macao Government Tourism Office (MGTO) deputy director Cheng Wai Tong reported that, as of Wednesday July 10th, the average daily visitor count for the month of July stands at approximately 87,000, aligning with the offices expectations.

According to a local media outlet, Cheng expressed optimism about the tourism sectors performance during the summer holiday period.

In addition to the strong visitor numbers, the hotel occupancy rate from January to June this year was around 88 percent. Cheng believes that this rate will exceed 90 percent during the peak summer season, reflecting robust demand.

Cheng also noted that there have been no reports from the industry about staffing shortages. He expressed confidence that the tourism sector has adequately prepared for the busy season, ensuring sufficient personnel to accommodate the influx of visitors.

According to previous projections, Macau is expected to receive 33 million visitors this year and from January to May Macau already received over 14 million visitors.

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Macaus July daily visitors averaging 87K, meeting expectations: MGTO - Asia Gaming Brief