MACAU BUSINESS By Toni Lai
By Paolo A. Azevedo GAMING BRIEFS
Gaming related crime rises in H1 2023
G
aming-related crimes in the first half of 2023 experienced a surge of 113.1 per cent, with a total of 422 cases
recorded, according to data released by the Secretary of Security (GSS). Authorities have attributed this
Jeju – the new Singapore
Jeju will be as big as Singapore in terms of Gross Gaming Revenue, predicts Lawrence Teo. The Chief Operations Officer and Vice President of Dream Tower, the tallest Integrated Resort under construction on the Korean destination island, explains to Macau Business why Lotte Tour decided to enter the casino business and create a landmark. All bets are on making the casino resort the crown of the tourism jewel the company has been dominating for four decades
sharp increase to the easing of travel restrictions and a gradual recovery in the gaming industry, which resulted in a considerable influx of visitors and consequently an inevitable rise in gambling-related crimes. However, this figure still represents
a substantial decrease of 56.4 per cent compared to the corresponding period in 2019.
Casino resorts’ event lineup to drive casino revenue in Q4 – Citi M M 18 OCTOBER 2017 18 NOVEMBER 2023
acau’s gaming industry is poised for a significant boost in the fourth quarter of 2023, thanks to a planned “star-studded” lineup of events, according to Citigroup. Analysts George Choi and Ryan Cheung have raised their gross gaming revenue forecast for the last quarter of 2023
from MOP51 billion (US$6.31 billion) to MOP52.5 billion, implying a quarter-on-quarter increase of 7.4 per cent. Citigroup highlights that during the National Day Golden Week alone, eight events, including Cantopop concerts and a
poolside dance party, will take place. The analysts point out that the eight-day festive period is likely to make October a standout month, with the highest monthly GGR forecast at MOP19 billion. Between October 1 and 6, each day could
acau Business – From Lotte World, a major recreational complex [with the world’s largest indoor theme park, in Seoul] to an integrated resort with casino in Jeju. A different beast. A
natural evolution? Lawrence Teo – Business is the same. But building
a landmark. M. B. – The group [Lotte] has created other landmarks in different types of business. Why would this be different? L. T. – Yes, Lotte Group has already created
downtown Seoul and Lotte Super Tower. We’re trying
remainder of October is projected to be MOP575 million, reflecting a 25 percent moderation in the run-rate compared to the Golden Week. Looking ahead, the analysts express a
to do the Dream Tower in Jeju. Lotte here is being just a family company; we’re a different company [Lotte Tour]. It’s not going to be [just] the tallest and the largest building in Jeju, that’s just the hardware. We say that a landmark should be the most visited destination, where tourists will go to eat, shop and maybe [visit] our observation deck. A must-visit point destination. Because of the hardware, and also the software.
M. B. – What are the main goals that you definitely
want to achieve with this Integrated Resort (IR)? L. T. – Number one EBIDTA on IR in Korea. There’s
see an average of MOP765 million in casino revenue. The average daily casino revenue for the
positive outlook for the remainder of 2023, suggesting that casino revenue could potentially reach MOP181.5 billion for the whole year – or 62 percent of the 2019 level. The estimate was made after they revised
their forecasts for November and December to MOP16 billion and MOP17.5 billion, respectively.
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