MACAU BUSINESS F
On-site G2E Asia returns to Macau with new IR joint expo
or the first time since 2019, an on-site edition of the Global Gaming Expo Asia (G2E Asia) will be held in the
Macau SAR in 2023. The expo – organized by the American Gaming Association and Reed Exhibitions – will be held between July 11 and 13 at The Venetian Macao, in conjunction with a new event named Asia IR Expo, which organizers described as a ‘unique opportunity’ to meet the ‘leaders and decision makers from leading integrated resorts in Asia’. In recent years, Macau authorities have pushed forward with a new “1+4” diversification strategy, aimed at bolstering Macau’s integrated tourism and leisure industry and promoting four key sectors, namely big health, modern financial services, high technology, exhibitions and conventions, commerce and trade, and culture and sports. Organizers have informed Macau
News Agency that this new event will serve as a non-gaming complement to the new G2E Asia expo in Singapore, while serving as an “invaluable platform” to drive business diversification in the SAR. Prior to the coronavirus
outbreak, G2E Asia, a major industry trade fair and conference, was held in Macau annually between 2007 and 2019 The 2020 and 2021 physical editions of the event, slated to take place in the city, were canceled owing to travel restrictions. However, in 2022 the conference
was temporarily relocated to Marina Bay Sands in Singapore from Macau due to the COVID-related travel restrictions of the latter.
20 MARCH 2023 S
Sands China records strong recovery during CNY
ands China said that its business performance in Macau over the Chinese New Year
(CNY) period has seen a robust recovery, as patronage has been strong across all business segments and positive EBITDA has been recorded during the holiday period. This comes as the operator said in a stock filing that its adjusted property EBITDA loss was US$51 million (MOP 411.4 million) for the fourth quarter of 2022, and the total net revenues decreased 31.7 per cent to US$439 million year-on-year, while the 4Q22 net loss stands at US$348 million. For the full year 2022, Sands
China’s adjusted property EBITDA loss was US$324 million, while total net revenues decreased 44.2 percent to US$1.61 billion compared to 2021, with a net loss of US$1.58 billion. However, over the past few
weeks, travel restrictions have been comprehensively lifted for Macau, and they have seen a significant improvement in property visitation, gaming volumes, retail sales, and hotel occupancy, the company noted in its stock filing.
Chairman and Chief Executive Officer of Sands China’s parent company, Las Vegas Sands Corp., Robert Glen Goldstein, highlighted in its 4Q22 earnings conference call that Macau’s future is bright and the SAR “remains the largest market globally.”
sentenced to 18 years in prison in the city on the charges of founding and leading a criminal syndicate, illicit gambling activities, and fraud. The presiding judge also ruled that Mr Chau and a few other defendants have to pay the Macau Government compensation of HK$6.52 billion (US$833 million) due to their illicit activities that caused the loss of levies on the Macau casino gaming revenue between 2014 and 2021. Five gaming operators of the city,
A
except Melco Resorts, are also entitled to compensation of over HK$2.15 billion in total from the former junket boss and others, including HK$349.02 million for MGM, HK$770.96 million for Wynn Macau, HK$295 million for Sands China, HK$559 million for Galaxy Entertainment Group, and HK$178.22 million for SJM. According to Judge Lou, Mr Chau
was found guilty of most charges against him, including 103 counts of illegal gaming activities in local licensed venues, one count of illegal gambling activities, 54 counts of fraud and three counts of attempted frauds, and one count of founding and leading a triad group. However, Mr Chau was acquitted of the charge of money laundering due to legal technicalities. Except Mr Chau, 12 defendants in
this case have also been convicted of part of or all charges of illicit gambling activities, fraud, and leadership or involvement in a criminal group. They received either a suspended sentence of two years or an imprisonment term between nine and 15
years.The remaining eight defendants were acquitted of the charges.
Alvin Chau sentenced to 18-year jail term
lvin Chau Cheok Wa, boss and founder of the now-defunct Macau junket operator Suncity Group, was
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