CASINO OPERATOR of the year

Genting Singapore

Genting Singapore’s revenues in the second half of 2022 were 60% higher than H1. Gaming alone brought in SG$753.7m (US$566m) and non-gaming SG$307.8m (US$230m). Gaming revenue for 2022 was up 53% from 2021, and non-gaming revenue - up 90%. The figures signal that Genting Singapore is on track to achieve full recovery from the impact of the Covid-19 pandemic in the medium term.

NAGACORP

NagaCorp, the owner and operator of Cambodian integrated resort NagaWorld, continued to build momentum in its business, and is recovering well after the effects of two challenging years of Covid-19.For 2022 NagaCorp reported a 99.5% increase in gross gaming revenue to US$445.9m. The company reported a 197% increase in mass gaming revenue to US$328.1m. NagaCorp is currently working on its US$3.5bn Naga3 development, the latest expansion of NagaWorld, which, once completed, will increase the property’s offering to 5,000 hotel rooms, 4,500 EGMs and 1,300 gaming tables.

MGM

China

In just a month after local borders reopened, MGM China’s combined properties became the highest earning business within MGM Resorts International. As part of the new 10-year concession in Macau, MGM China was allowed to increase its number of tables

-Covid measures impacting revenue over the past year, among Macau’s casino groups, MGM China’s market share grew the most.

BLOOMBERRY RESORTS CORPORATION

2022 was a strong year for Bloomberry with net income reaching PHP5.1bn (US$92.2m) The company’s flagship resort in the Philippines, Solaire, benefited from a strong rebound in local demand across all business segments. Gaming revenues reached 84% of pre-pandemic levels, driven by the domestic-focused mass table games and EGM segments where revenues already reached 100% of 2019 values. Throughout 2022 the operator continued working hard on the highly anticipated Solaire Resort North in Quezon City, which is expected to open its doors next year.

Wynn Resorts

During the Chinese New Year period, Wynn delivered its strongest EBITDA performance since the start of the Covid-19 pandemic: approx. US$4m a day. Additionally, indirect VIP turnover was 40% above pre-Covid Chinese New Year levels. Positive numbers were also posted for the non-gaming side of Wynn’s Macau business,with 96% hotel occupancy and retail sales up 34% compared to the Chinese New Year period in 2019. As part of its renewed Macau concession, at the end of last year Wynn Macau committed end of last year Wynn Macau committed by 198. The company also announced it will invest approximately $2bn in the region over the next decade. Despite anti to invest MOP$17.8bn (US$2.2bn) over the next 10 years, particularly focusing on expanding international markets and furthering non-gaming development.

Galaxy Entertainment

Galaxy Entertainment reported gross gaming revenue of HK$1.8bn (US$229m) for Q4 2022, representing, 99% rise from Q3 2022, with mass gross gaming revenue of HK$1.6bn (US$203m). The operator also announced that it will progressively open Phase 3 of Galaxy Macau in Cotai during the second quarter of this year. The project includes Galaxy International Convention Center, Galaxy Arena and Raffles at Galaxy Macau.

MELCO RESORTS & ENTERTAINMENT

While Melco’s Macau properties were still impacted by travel restrictions throughout 2022, the operator’s Philippines IR, City of Dreams Manila, showed positive signs of recovery. For Q3 2022, rolling chip volume at Melco’s Manila property rose to US$940.7m compared to US$206.3 in Q3 2021. Gaming machine handle and mass market table games drop also grew year on year during Q3 2022 by 25% and 31% respectively. Back in Macau, Melco continued working on Studio City Phase 2 which is nearing completion now and scheduled to open in the second quarter of this year. Last but not least, Melco reported that it is on track to reach its 2030 goals in environmental sustainability.

Sands

Over the past 12 months Sands remained committed and confident in its investment in Macau. The company reported a strong Chinese New Year period at its Macau properties, outperforming its competitors in terms of visitation numbers. A survey by Citigroup Global Markets Inc. estimated that during the month of February 2023 Sands subsidiary, Sands China, was the market leader, by share of total wager, in Macau’s ‘premium mass’ gambling segment. Elsewhere, Sands’ Singapore property - the iconic Marina Bay Sands, delivered record gaming revenue.