![]() Around 90% of Macau’s visitation comes from greater China. Genting “can offer the Macau government whatever they expressly said they wanted,” versus the incumbents who have predominantly focused on Chinese VIPs, said Samuel Yin Shao Yang, an analyst at Maybank. Macau, the world's biggest gaming hub by revenue, raked in $36 billion in gambling revenues in 2019 - six times the Las Vegas Strip, before COVID decimated it by 70% to $10.8 billion in 2021. The COVID crisis exposed Macau's over-reliance on gaming, which analysts say underline the urgency to diversify as many of the incumbents are still struggling to recover. “It’s probably the right opportunity for Beijing to remove one American (concessionaire) if not two,” Lee said. Tensions between the United States and China also create a growing risk that Genting could pip a U.S. ![]() ![]() In 2019 around 35% of total revenue at its Singapore property came from non-gaming versus 10-20% for Macau casinos. The group has been more successful at generating non-gaming revenue. ![]()
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