{"id":235035,"date":"2022-09-30T14:42:37","date_gmt":"2022-09-30T19:42:37","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=235035"},"modified":"2022-09-30T16:15:00","modified_gmt":"2022-09-30T21:15:00","slug":"genting-macau-could-have-momentum-according-to-analysts","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/genting-macau-could-have-momentum-according-to-analysts\/","title":{"rendered":"Genting Malaysia Pursuit of Macau License Seen as Credible"},"content":{"rendered":"

Earlier this month, Genting Malaysia stunned the gaming industry by entering Macau\u2019s upcoming retendering process.<\/p>\n

\"Genting
Casinos in Macau, seen above. Analysts see Genting as a credible threat to win a license there. (Image: Bloomberg<\/em>)<\/figcaption><\/figure>\n

While the special administrative region\u2019s (SAR) update to gaming laws makes room for six concessionaires — the current number operating there — Genting\u2019s pursuit of a Macau casino permit is viewed as legitimate and something to monitor by analysts and industry observers.<\/p>\n

\n

For the time being, authorities in the Chinese territory aren\u2019t saying much beyond confirmation of receiving the Genting application and that it is in good standing. The Malaysian company has gaming interests throughout the Asia-Pacific region through various subsidiaries. But it\u2019s never operated in Macau. To make that happen, it\u2019d have to supplant a current concessionaire.<\/p>\n<\/div>\n

Those six are Galaxy Entertainment, Melco Resorts & Entertainment (NASDAQ: MLCO), MGM China, Sands China, SJM Holdings, and Wynn Macau. All of those companies submitted bids<\/a> to renew their Macau permits.<\/p>\n

Genting Macau Chances Are Legitimate<\/h2>\n

Immediately following Genting\u2019s entry into the Macau license fray<\/a>, the prevailing wisdom among analysts was that company would be unlikely to usurp an established rival. But that view is softening.<\/p>\n

They have a strong chance to topple one of the incumbents…and Genting would have been encouraged to come in. With their background it makes a lot of sense,”<\/strong> said Ben Lee, founder of Macau gaming consultancy IGamiX, in an interview with Reuters<\/em>.<\/p><\/blockquote>\n

Genting has the goods to support its Macau bid. Not only is the company financially sound, with ample access to capital markets, but it\u2019s a well-known operator in Asia-Pacific with a trait Macau authorities crave: Non-gaming prowess.<\/p>\n

As just one example, Genting\u2019s Resorts World Sentosa — one of two integrated resorts in Singapore — generated 35% of 2019 sales from non-gaming ventures, while the best percentage among Macau operators that year was 20%, according to Reuters.<\/em><\/p>\n

If Genting\u2019s In, Who\u2019s Out<\/h2>\n

Assuming Genting\u2019s Macau overture wins and an entrenched operator is displaced, that will stoke considerable debate as to what company will be sent packing.<\/p>\n

Some analysts believe it\u2019s too complex for Macau to replace an existing operator, no matter how compelling Genting\u2019s proposal is. That\u2019s stoking speculation Genting could enter the SAR via investment in a cash-starved existing concessionaire. There\u2019s no confirmation on that issue as of yet, but consensus appears to be that company would be Grand Lisboa operator<\/a> SJM Holdings.<\/p>\n

IGamiX\u2019s Lee floated a more controversial idea in the Reuters <\/em>interview: Macau tossing not one, but two US-based operators. That trio consists of MGM China, Sands China and Wynn Macau.<\/strong><\/p>\n

If Macau authorities opted for that stunning path, it would almost certainly heighten geopolitical tensions between the US and China, while confirming that, at a minimum, two to four integrated resorts in the SAR would see a change in operational control. MGM China (two), Sands China (five) and Wynn Macau (two) combine to control nine Macau casinos.<\/p>\n","protected":false},"excerpt":{"rendered":"

Earlier this month, Genting Malaysia stunned the gaming industry by entering Macau\u2019s upcoming retendering process. While the special administrative region\u2019s (SAR) update to gaming laws makes room for six concessionaires — the current number operating there — Genting\u2019s pursuit of a Macau casino permit is viewed as legitimate and something to monitor by analysts and […]<\/p>\n","protected":false},"author":46,"featured_media":235038,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,62],"tags":[81913,81897],"acf":[],"yoast_head":"\nGenting Macau Could Have Momentum, According To Analysts<\/title>\n<meta name=\"description\" content=\"Genting Macau bid could displace existing operator, perhaps US company.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Genting Macau Could Have Momentum, According To Analysts\" \/>\n<meta property=\"og:description\" content=\"Genting Macau bid could displace existing operator, perhaps US company.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/genting-macau-could-have-momentum-according-to-analysts\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-30T19:42:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-30T21:15:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/macau-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/genting-macau-could-have-momentum-according-to-analysts\/\",\"url\":\"https:\/\/www.casino.org\/news\/genting-macau-could-have-momentum-according-to-analysts\/\",\"name\":\"Genting Macau Could Have Momentum, According To Analysts\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/genting-macau-could-have-momentum-according-to-analysts\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/genting-macau-could-have-momentum-according-to-analysts\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/macau-1.jpg\",\"datePublished\":\"2022-09-30T19:42:37+00:00\",\"dateModified\":\"2022-09-30T21:15:00+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Genting Macau bid could displace existing operator, perhaps US company.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/genting-macau-could-have-momentum-according-to-analysts\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/genting-macau-could-have-momentum-according-to-analysts\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/genting-macau-could-have-momentum-according-to-analysts\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/macau-1.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/macau-1.jpg\",\"width\":1200,\"height\":800,\"caption\":\"Casinos in Macau. 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