Genting aims to upend Macau casino landscape in bidding war

If one of the incumbents lost their license it’s likely to send tremors throughout Macau´s gambling industry as the companies have collectively invested more than $50 billion in the past two decades, are tied closely to the economic fortunes of the former Portuguese colony and employ tens of thousands of people.

But while most parents recognize brands like Monster and Red Bull as energy drinks, experts warn gaming supplements could be mistaken for a protein shake because they are diluted in a gym shaker bottle.

The Malaysian group’s multiple non-gaming investments in China, including a prominent ski resort that was used for the Beijing 2022 Winter Olympics, are also likely to bolster its chances, analysts said.

If an incumbent loses their license, they must return the casino area to the government for Pkv Games free at the end of this year, making it financially unviable to operate the remaining facilities as gambling accounts for 80-90% of total revenue.

The proposal comes as Burgum has worked to improve state-tribal relations that have been especially strained since he took office in 2016 in the midst of prolonged protests and hundreds of arrests during the construction of the Dakota Access Pipeline that passes beneath the Missouri River near the Standing Rock Sioux Reservation. The tribe draws its water from the Missouri and fears pollution.

Runaway inflation and the reopening of offices and schools have led people to spend less on PCs than they did during lockdowns when many bought computers for work and school as they stayed home during the pandemic.

Genting´s strong non-gaming track record, including operating two of the largest theme parks in southeast Asia, would be a big draw for Beijing which has been urging Macau to diversify away from gambling and attract foreign tourists.

Oct 8 (Reuters) — Arsenal manager Mikel Arteta said his side could get a psychological boost for their Premier League campaign by beating Liverpool and extending their lead over the Merseyside club to 14 points when the two clash on Sunday.

«Fear is the worst enemy, especially against the top teams, because this is what they use a lot of the time just to win football matches. You cannot go with any of that into Sunday’s game, the same as we didn’t when we played Spurs.» (Reporting by Aadi Nair in Bengaluru; Editing by Clarence Fernandez)

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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.

A similar compact between Florida and the Seminole Tribe is tied up in federal court after a judge in November found the multibillion-dollar agreement between the state and tribe allowing online betting violated a federal rule that requires a person to be physically on tribal land when wagering.

Last week memory chip maker Micron Technology warned of tougher times and said it was cutting its capex investments in fiscal 2023 by over 30% to a total of $8 billion. Nvidia Corp and Intel Corp both delivered much worse than expected earnings in their latest reports.

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The tribes are turning to Republican Gov.Doug Burgum to approve the idea under tribal-state agreements known as compacts, the first of which was signed in 1992. The current compacts expire at the end of this year and only Burgum can approve them, said Deb McDaniel, North Dakota´s top gambling regulator.

«I think AMD is showing that nobody is safe from the post-pandemic PC downturn, and those inventory corrections are also impacting the company,» said Anshel Sag, chip analyst at Moor Insights & Strategy.

It would cause «far too much disruption» if any of the six operators were replaced, said Terry Ng, an analyst at Daiwa in Hong Kong, although other industry watchers note the incumbents have left themselves vulnerable to an operator like Genting which lost out on a Macau licence in 2002.