Macau Prepares for Super-Typhoon Yagi
Super-Typhoon Yagi was heading for Macau Sept. 5, having picked up steam after making landfall in the Philippines earlier in the week, killing 13 people there. As the storm barreled toward China, it packed sustained winds of 130mph near its eye, the equivalent of a Category 4 hurricane.
The websites of casino resorts in Macau all included pop-up warnings about Yagi and changes in operations. Sands China resorts including the Venetian, Parisian and Londoner remain open, though some restaurants, bars and other attractions are temporarily closed. Studio City advised that part of its “hotel services and facilities will be affected and apologized “for any inconvenience.” Galaxy Macau advised patrons that restaurants will resume operation two hours after the Typhoon 8 signal is lowered.
Last year at this time, the government closed all casinos for nine hours during super-Typhoon Saola. GGR for the month took a hit, totaling MOP14.93 billion (US$1.85 billion), down more than 13 percent from August.
Macau GGR Up in August, Gaining on 2019 Levels
Gross gaming revenue (GGR) at Macau casinos totaled MOP 19.75 billion (US$2.5 billion) for the month in August, up almost 15 percent from the same period in 2023. Year to date, the numbers increased 33.4 percent to MOP152.1bn. The industry has already collected 70 percent of the projected full-year total of MOP216 billion, per the Gaming Inspection and Coordination Bureau (DICJ).
Casinos also saw a 6.2 percent month-on-month increase, the second best monthly performance since January 2023, when city borders reopened. The monthly hike, while positive, isn’t considered especially meaningful, as June and July are typically slower for tourism and casino traffic. August also benefited from four extra weekend days—a total of 14, compared to 12 in July.
According to J.P. Morgan, the August results suggest strong visitation by mainland Chinese patrons, the industry’s mainstay, especially mass players. Those factors compensated for lackluster demand in the shrinking VIP segment.
US Investor Expresses Interest in Saipan Casino
A Hong Kong businessman has offered US$10 million to buy the Saipan casino resort Imperial Pacific Palace, shuttered in March 2020. Operator Imperial Pacific International is receptive to the offer by Loi Lam Sit, which could help it pay a fraction of its debts.
Now an IPI creditor says a second potential bidder has emerged from the U.S. That unnamed bidder needs time to complete its due diligence and assess the value of the property in Garapan, which has been deteriorating since its closure.
Michael Dotts of the Dotts Law Office said a “blind bidding procedure” would be more favorable to IPI creditors, who are owed a collective $168 million. “It is in the best interest of the CNMI and of all creditors who reside here that not only the highest price is obtained for the property, but that the purchaser actually completes the project,” said Dotts.
Philippines IR to Break Ground in Cebu in 2025
A new integrated resort (IR) planned for Lapu Lapu City, Philippines is set to break ground next year. Mactan World Resorts is a project of Travellers International Hotel Group Inc. (TIHGI), a unit of Alliance Global Inc. (AGI).
The ₱17 billion (US$300.9 million) Mactan World Resorts will be part of Mactan Newtown, a “mega-community” in Cebu. It’s a development of Megaworld Corp., the flagship property arm of Kevin Tan’s AGI, which applied for a gaming license in 2023.
Mactan World will include a hotel, casino and entertainment facilities. It will expand Travellers’ reach beyond Entertainment City in Metro Manila, where it operates the nation’s first and largest IR, Newport World Resorts (formerly Resorts World Manila).
