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Post by Blitz on May 2, 2024 7:29:15 GMT -5
Not only smart gaming tables giving MGM China market advantage, Feng cites “deep understanding” of premium mass customers by Ben Blaschke Thu 2 May 2024 www.asgam.com/index.php/2024/05/02/not-only-smart-gaming-tables-giving-mgm-china-market-advantage-feng-cites-deep-understanding-of-premium-mass-customers/MGM China President and Executive Director Kenneth Feng says the company’s incredible resurgence post-pandemic results from a “deep understanding” of its premium mass customers. In comments made during the 1Q24 earnings call of parent company MGM Resorts, Feng acknowledged that MGM has a head-start when it comes to smart RFID/AI tables – which it first installed as far back as 2016 – but added the company has also worked hard to refresh its product offering to better suit an evolving player market. “People are always asking how we are leading this market, why we are recovering in this way after COVID,” he explained. “I just want to make a little bit of comment on that. What differentiates us in the market is really company-wide, from the senior management, we possess a deep outstanding of our customers, particularly the premium mass [customers], from their culture, their habits, behavior, background profile, even their home province and dialects. “China is a vast country with a huge supply of nearly everything like cutting-edge technology and various hospitality products. Over the past three years, we didn’t waste our time and kept innovating and refreshing our products, our services to meet the ever-changing customer expectations. “So, we are [continuing to do] that. We just launched two casino F&B outlets in April, which have been well received on social media and by customers.” Feng’s comments came after MGM Resorts CEO and President Bill Hornbuckle took issue with criticism of the company’s promotional activity, which was described (without directly naming MGM) by Macau rival Melco Resorts earlier in the week as “crazy behavior”. In response, Hornbuckle pointed to MGM China’s 29% margins in Q1 as evidence that such spend was reasonable. “I just query that [criticism] and I challenge it,” he said. “And frankly, if we had retail to the extent that two of our competitors do, [margins] would be in the low-to-mid 30s.” |
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Post by Blitz on May 2, 2024 7:37:16 GMT -5
MGM China first quarter results outshine pre-COVID era, company continues gaining market share May 2, 2024 agbrief.com/intel/deep-dive/02/05/2024/mgm-china-first-quarter-results-outshine-pre-covid-era/MGM China has announced its continued resurgence in the first quarter of the year, with record high adjusted EBITDA and market share during the period. According to unaudited results published on Thursday, adjusted EBITDA hit HK$2.5 billion ($320 million), up by 77.3 percent yearly and a rise of 155 percent from the first quarter of 2019. The group notes that its EBITDA results were due to its ‘mass-focused business and continuous improvement in operational efficiency’. The group’s market share also rose to 17 percent in 1Q24, up from 15.2 percent in the same quarter of last year and 9.5 percent in 1Q19. The group notes that MGM Cotai’s market share was 10.1 percent while its peninsular property MGM Macau was 6.9 percent. The property on the Cotai Strip brought in revenue of some $4.8 billion ($613.6 million) during the quarter – strong increases from the HK$2.5 billion ($320 million) seen in 1Q23 and HK$2.4 billion ($307 million) in 1Q19. Meanwhile it also saw adjusted EBITDA of HK$1.4 billion ($179 million), a 95 percent yearly increase and a 157 percent rise from 1Q19. Meanwhile, MGM Macau brought in some HK$3.5 billion ($447.5 million) in revenue, up from HK$2.3 billion ($294 million) in 1Q23 and HK$3.4 billion ($434.6 million) in 1Q19. MGM Macau, MGM China Adjusted EBITDA at the peninsular property increased to HK$1.1 billion ($140.6 million) – the same as in 1Q19 but an increase from the HK$695 million ($88.9 million) seen in 1Q23. Net revenue for the group rose by 70.6 percent yearly, topping 143 percent of 1Q19 levels, at HK$8.3 billion ($1.06 billion). Gross gaming revenue rose by 7 percent quarterly, reaching 74 percent of the same period in 2019 – estimated at MOP630 million ($78.2 million) per day in 1Q24. Mass GGR meanwhile increased 5 percent sequentially to hit all-time highs, at 110 percent of pre-COVID levels. Mass GGR including slots totaled 189 percent of pre-COVID levels. Hotel occupancy was also healthy during the period, at 93.4 percent – single-digit rises from both 1Q23 and 1Q19. Kenneth Feng, Executive Director, MGM China The group has also proposed a total dividend of HK$0.347 per share. Speaking of the results, MGM China’s President and Executive Director Kenneth Feng noted that “Our outstanding performance demonstrates our deep understanding of customers with continued improvements in service levels “The resumption of dividend demonstrates our confidence in the future of Macau and MGM China, along with our commitment on bringing return on investment to shareholders,” noted the executive. |
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Post by Blitz on May 2, 2024 7:38:40 GMT -5
Thai gaming market extremely compelling, UAE casino still on the radar: MGM CEO May 2,2024 agbrief.com/news/thailand/02/05/2024/thai-gaming-market-extremely-compelling-uae-casino-still-on-the-radar-mgm-ceo/The cost of doing business in Thailand and the estimated margins make the possible future gaming market very compelling, while the UAE holds potential, notes the CEO and President of MGM Resorts International. Based on preliminary plans, the Thai government aims to issue between five to eight casino licenses. Locations in key economic zones, including the Eastern Economic Corridor and popular tourist destinations like Phuket and Chiang Mai, are prime candidates for Entertainment Complex (EC) establishments. The Thai government’s proposal to tax gross gaming revenue (GGR) at a relatively low rate of 17 percent, combined with plans for extensive industry development, signals a welcoming environment for investors. “Thailand is interesting. Obviously, it’s fully within the government’s control and hands at this point. The dialog to date has been encouraging. We will see. The cost to do business there, the margins that could be had would be compelling, very,” William Hornbuckle said in the group’s most recent conference call. Addressing the possibility of the development of a gaming market in Thailand, the MGM CEO expressed belief that the proposed government plans would eventually “come to fruition”.  Possibilities in the UAE, Japan progressing Among others, Wynn Resorts and MGM Resorts International have designs to enter a potentially lucrative gaming market in the United Arab Emirates, a Middle Eastern country of about 9 million people. Wynn is a little further along with its $3.9 billion project, on the man-made Al Marjan Island in Ras Al Khaimah, which was first announced in early 2022.  Wynn Al Marjan “I think there’s enough indicators there, enough work has been done to recognize that either Abu Dhabi of note, or one of the other Emirates will come to life. Wynn has a project in the ground and is waiting for national legislation and regulatory framework. So, I think that would be the most affirmative,” the MGM CEO pointed out. MGM is developing a non-gaming resort in Dubai, the UAE’s largest city, with three hotel towers totaling 1,500 rooms branded under the Aria, MGM Grand and Bellagio names. As for the group’s IR project in Osaka in partnership with ORIX, Horbuckle pointed out that the venture closed on the JPY530 billion ($3.4 billion) project financing for the property.  MGM Osaka IR “We also bought back over $500 million of shares in the quarter and as of yesterday, we’ve reduced our outstanding float to 313 million shares, 37 percent fewer than at the start of 2021. |
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Post by CardsFan on May 2, 2024 11:27:03 GMT -5
Melco was asked about this on their call because they've got the smart tables going in as we speak. They said advantages would disappear as more casinos utilize these.
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Post by Blitz on May 23, 2024 6:39:31 GMT -5
Smart table technology set to dominate main Asia market casinos by 2025 By Nelson Moura - May 21, 2024 agbrief.com/intel/deep-dive/21/05/2024/smart-table-technology-set-to-dominate-main-asia-market-casinos-by-2025-expert/ By the end of 2025, it is expected that all major properties in Macau, the Philippines, Australia, and New Zealand will adopt some form of smart table technology, primarily for Baccarat due to its implementation ease compared to other games, gaming analytics expert David Croft told AGB. David Croft, SVP of Gaming Optimization & Strategy, Tangam Systems According to the Tangam Systems SVP of Gaming Optimization & Strategy, the introduction of smart table technology is poised to transform the landscape of casino gaming, offering enhanced security, efficiency, and profitability. In the current market, casinos have three choices of smart tables, namely, those with radio frequency identification (RFID) technology embedded in the table, float, and chips to track gameplay and patron activity, and those equipped with cameras, including in some instances facial and body recognition, to track gameplay and patron activity. Last but not least, there are hybrid tables, which utilize a blend of RFID combined with video analytics to track gameplay and patron activity. With over 15 years of expertise in leading gaming strategy, analytics, and innovation across table games, slots, and ETGs, Croft previously oversaw gaming product optimization at some of the largest chain operators in Australia including Crown Resorts and The Star Entertainment Group. Smart table technology offers numerous advantages for casino operations, significantly enhancing security, efficiency, and profitability, with one of the primary benefits being the reduction and elimination of revenue leakage. However, according to Croft, the use of these tables in initial stages will be primarily on Baccarat as it is easier to achieve than the non-Baccarat products. This technology can identify fraudulent chips as they cross the table and detect dealer errors, such as overpayments or underpayments. It also uncovers instances of chip theft and collusion, thereby safeguarding casino assets. Moreover, smart tables improve data collection for gaming floor management, product optimization, and yield management. They enable accurate bet tracking, which supports efficient and effective live decision-making. Some of Macau’s six gaming concessionaires mentioned the implementation of this technology in their properties in their most recent financial reports for the first quarter of 2024. In a recent report, brokerage Citi revealed that such tables now represent approximately 10 percent of all tables in the SAR, citing its use across various casinos in the city, including observations at MGM China, Londoner Casino, and Wynn Macau, and plans for further rollout by Galaxy, Melco, and SJM throughout 2024. For analysts George Choi and Ryan Cheung, such technology has the potential for a 5.9 percent increase in GGR for every five seconds saved per game of baccarat, an acceleration expected to contribute significantly to revenue growth without relying on higher footfall. Improved efficiency  Macau, Mass Table Gaming, Venetian Casino Floor, Macau GGR Croft pointed out that the precise data collection enhances the testing and measurement of various initiatives, leading to improved productivity and deeper insights into customer behavior. As smart table technology continues to evolve, it is set to drive substantial improvements in casino operations, customer satisfaction, and regulatory compliance. According to Croft, another key advantage is the provision of accurate customer activity data, which addresses common complaints about inaccurate ratings. SMART TABLES ENSURE THAT REWARDS ARE DISTRIBUTED CORRECTLY AND THAT MARKETING OFFERS ARE TAILORED SPECIFICALLY TO PLAYERS’ ACTIVITIES, RATHER THAN RELYING ON GENERALIZED OR ESTIMATED DATA. Enhanced operational efficiency is also a significant benefit of smart table technology. By automating many manual tasks, smart tables free up staff to focus on delivering exceptional service to customers, thus improving the overall gaming experience. Compliance with regulatory requirements is another crucial area where smart tables prove beneficial. They provide accurate win/loss data, which is essential for meeting Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. Walker Digital smart table technology has been installed in several prominent casinos, including MGM Cotai, MGM Macau, and Genting Highlands. These installations highlight the growing adoption of advanced gaming technology in major gaming hubs. Smart Tables, Casino, Walker Digital Table Systems  Angel smart tables have also made significant inroads, particularly at The Star Sydney, where they are featured in the premium rooms. Additionally, Sands is rolling out Angel smart tables across its Macau properties. In the Philippines, Solaire and Solaire North are utilizing the previous SenSen product. Furthermore, it is believed that some resorts in the Philippines and Singapore have developed and implemented their own specialized smart table technology, tailored to meet their unique operational needs and enhance their gaming experiences. |
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Post by SouthEastAsia on May 25, 2024 17:59:09 GMT -5
The last I read Wynn Al Marjan construction is up to the 4th floor.
From Wynn's 1st quarter conference call:
"On the development front, vertical construction on the hotel tower at Wynn Al Marjan Island is well underway, and we are confident the resort will be a 'must see' tourism destination in the UAE. We are excited about the outlook for the Company, and we believe we are well positioned to deliver continued long-term growth."
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Post by Blitz on May 28, 2024 6:34:16 GMT -5
AI driving significant transformation in the casino industry: Researcher May 27,2024 agbrief.com/intel/deep-dive/27/05/2024/ai-driving-significant-transformation-in-the-casino-industry-researcher/ The casino industry is undergoing a significant transformation due to the integration of Artificial Intelligence (AI), spearheading innovations in gaming experiences, security measures, and personalized services, according to a tech researcher. Michael Oliver, an iGaming researcher, says that the implementation of AI by casinos and gaming platforms is revolutionizing customer interaction, enhancing player behavior understanding, and refining business strategies for greater value. This digital evolution, while promising broad benefits for stakeholders, necessitates careful management of ethical and practical challenges to ensure positive outcomes. “The integration of technologies such as machine learning, generative adversarial networks, and AI in gaming platforms is heralding a new era in casino software development. These advancements not only improve game creation but also ensure fairness and bolster security,” Oliver points out. An analysis by the researcher – a Head of R&D and Partnerships at iGaming software solution company GAMMASTACK – delves into how AI’s role in game personalization, security enhancements, and responsible gaming is shaping the future of the casino industry, emphasizing the pivotal role of casino software solutions in evolving gaming experiences. “AI tools are fundamental in analyzing game performance and player preferences. By examining popular games and pinpointing underperforming machines, AI enables casino operators to craft targeted marketing strategies that maximize player satisfaction and profits. This data-driven approach ensures that casinos can offer games that players love while optimizing machine placement to enhance the gaming experience,” he points out. AI driving significant transformation in the casino industry: Researcher  “AI’s capability to analyze vast amounts of data extends to understanding individual player behavior, allowing for the personalization of the gaming experience. This includes tailoring game suggestions and betting levels to individual preferences.” Recently another researcher told AGB that, by the end of 2025, it is expected that all major properties in Macau, the Philippines, Australia, and New Zealand will adopt some form of smart table technology – tables which sometimes also employ AI technology.  For Oliver, AI has also significantly upgraded the user interface of casino games, making them more intuitive and user-friendly, which improves the user experience and makes gaming more accessible to a broader audience. AI and machine learning algorithms monitor player activities and detect anomalies indicating fraudulent behavior. This real-time analysis and intervention enhance the safety and security of the online gaming environment. Oliver also points out that AI has revolutionized casino game development as well, as developers use AI to create games with immersive and interactive elements, incorporating virtual reality (VR) and augmented reality (AR) for more engaging experiences. These technologies allow players to feel like they are in a real casino, enhancing the thrill of the game. AI algorithms also help design games that adapt to player skills and preferences, keeping the games challenging and engaging. Another area where AI is revolutionizing the casino industry is by providing highly personalized gaming experiences that cater to individual player preferences and behaviors through sophisticated AI algorithms. “AI algorithms analyze player behavior continuously to tailor gaming experiences, including adjusting game difficulty and suggesting new games. By predicting player preferences, AI enhances engagement and satisfaction by suggesting games aligned with individual tastes. AI uses player data to dynamically adjust games, ensuring each session is uniquely challenging and engaging,” the researcher points out. Personalized experiences keep players engaged with games that align with their interests. Players enjoy unique gaming experiences tailored to their preferences. Personalized rewards and game suggestions maintain player interest over longer periods, improving loyalty and retention rates. Benefits to casino operators ![]() Smart Tables, Casino, Walker Digital Table Systems “AI ALGORITHMS PROTECT CASINOS FROM DIGITAL THREATS BY CONTINUOUSLY ANALYZING SECURITY DATA TO PREVENT BREACHES.” Michael Oliver AI insights enable operators to craft effective marketing campaigns that resonate more profoundly with each player, personalized experiences lead to higher player engagement and staking, while providing a customized gaming experience helps build a loyal customer base. AI also revolutionizes security protocols in the casino industry, ensuring fair play and protecting against fraud, since AI-driven systems identify and prevent fraudulent activities by analyzing player behavior patterns and betting anomalies in real time. “AI monitors player activities continuously, allowing for instant detection of suspicious actions. Machine learning algorithms recognize irregular betting patterns, often indicators of fraud. AI evaluates patron and employee behaviors to identify potential security threats,” he adds.  Facial recognition technology has also helped identify and verify player identities, preventing underage gambling and the entry of banned individuals, while Blockchain technology offers a decentralized approach to storing player data, reducing hacking risks. “AI algorithms protect casinos from digital threats by continuously analyzing security data to prevent breaches. It supports compliance with regulatory standards and anti-money laundering laws by analyzing transaction data to detect suspicious activities,” notes Oliver. Innovative AI features in casino games The researcher also described how AI introduces innovative features that enhance player engagement and optimize operational efficiency, with chatbots and virtual assistants provide real-time interactions, answering player queries and resolving issues promptly. AI driving significant transformation in the casino industry  The technology analyzes player data to gain deep insights into behavior and preferences, optimizing game offerings and marketing strategies, enables the development of VR and AR casino games, providing immersive and interactive gaming environments, and is used to develop skill-based games, attracting younger demographics who prefer skill over luck. “It contributes to game development by creating engaging and complex game dynamics that adapt to player interactions. AI algorithms enhance game visuals and integrate interactive features, enriching the gaming experience,” the researcher added. |
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Post by Blitz on May 29, 2024 5:56:46 GMT -5
Angel’s hybrid RFID/AI smart tables seeing keen adoption across APAC Kelsey Wilhelm - May 29, 2024 agbrief.com/intel/deep-dive/29/05/2024/angels-hybrid-rfid-ai-smart-tables-seeing-keen-adoption-across-apac-execs/ Smart Tables are taking APAC by storm, with operators seeing operational advantages, security improvements and ease of regulatory compliance. The Angel Group has been working on the new tech for 10 years and is rolling it out to highly interested IRs from Macau to the Philippines, Singapore and Australia.  Angel’s hybrid RFID/AI smart tables seeing keen adoption across APAC The group mixes Artificial Intelligence and RFID tech in the smart tables, with different solutions available to scale to operators’ needs and regulatory requirements. This encompasses everything from bet and float chip balance information, to bet attribution (linking chips to a player’s image, only available for certain markets due to regulations), invalid chip detection and game win/loss data. These can be used individually or together, giving real-time information to dealers, security and even patrons – speeding up the flow of play, improving security and understanding customer behavior. Newest kid on the block JY Teo, Chief Operating Officer, Angel Technology Philippines, JY Teo, COO, Angel Technology Philippines Angel already has deployed its smart tables in Macau, Singapore and Australia, while it expects that “within this year,” its Angel Smart Technology products will be “in leading IRs here in the Philippines,” JY Teo, Chief Operating Officer of Angel Technology Philippines told AGB. The executive notes that “the majority of the IRs here in the Philippines are already operating with “partial smart tables”- either RFID or Artificial Intelligence cameras”, noting that “this is definitely on the wish list of every regulator”. The trend to shift to smart tables also “has made it a “basic or should have” requirement for new IRs opening in the Philippines,” notes the COO. Must-have for Macau Asuka Kurahashi, President and COO, Angel Macau Asuka Kurahashi, President and COO of Angel Macau notes that as of early May it had deployed “around 230 tables of “Angel Eye Complete”- having started the roll-out in 2019. The group is “now in the process of expanding to all Baccarat tables across multiple casinos, which will be done over the next few quarters”. Macau regulators, authorities and operators have praised smart table tech – with the most recent introduction of a Baccarat variant (Small 6/Big 6) highlighting the flexibility of the hybrid system. “THIS AI COMPONENT IS WHY IT IS SO SEAMLESS FOR OUR CUSTOMERS TO TRIAL A NEW GAME, OR EVEN A NEW LAYOUT WITH AN EXISTING GAME, WITHOUT REQUIRING ANY HARDWARE CHANGES.” Asuka Kurahashi To Singapore and beyond Yusuke Urata, Senior Manager of Product Sales, Angel Singapore (Asia) Angel has seen strong interest in Singapore, with Yusuke Urata, Senior Manager of Product Sales for Angel Singapore (Asia) noting that “we have deployed over 110 tables and are currently working with one operator for live operations”. The executive furthers that “across Southeast Asia, we have some others in discussion about trials at the back of house”. Urata notes that, in Singapore, operations have only implemented “a partial solution of our full suite […] in the next step, with an additional module to be implemented soon in the market, we are going to achieve a solution that no one has ever introduced to date”. Looking ahead, Urata notes the possibilities of new markets – such as Thailand and the UAE. “These countries will have newer regulations and it is possible for them to adopt new technologies as a new standard […] we believe what we are developing will become a new standard in the market,” states the executive. Highly regulated Australia Bryan Jenkins, Managing Director, Angel Australasia All it takes is looking at recent news to see how Australian authorities are pushing regulatory compliance. Bryan Jenkins, Managing Director of Angel Australasia notes that “our market is under considerable pressure from a changing regulatory environment” and that “proper compliance requires vast amounts of accurate data which simply is beyond the old regimes of manual data collection.” The executive notes that “our smart table technology fits perfectly with this need and is now considered as integral to performance improvement, player rating accuracy as well as compliance with new regulatory controls”. Jenkins notes that Angel works “with a number of operators and properties in Australia and have done so now since 2020”. Currently the group has “over 100 tables across Baccarat […] with further installation by the end of this year and expansion into other games to proceed after approvals are achieved”. What are the benefits? “Being a new technology, I believe there will be future applications that have not even been thought of yet. This level of data has not been available traditionally to casinos, and I think as operators get more familiar with it, they’ll certainly find innovative ways to capitalize on all this knowledge,” notes Angel Macau President Asuka Kurahashi. Angel chips  For now, the benefits are clear, notes Kurahashi. “It enhances game security by detecting counterfeit chips, chip theft or past posting (placing or moving a bet after the game starts)”, similar to the Savannah move, “it optimizes table games operations by reducing supervision requirements, as well as enabling understanding real time turnover, revenue and occupancy of each table”. And from the marketing side, it helps by “enabling operators to truly understand each patron’s betting behavior and value”. But Angel isn’t content to rest on its laurels. “We look forward to continue working on further developments and expanding our product line,” notes Kurahashi. |
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Post by Blitz on Jul 4, 2024 9:55:47 GMT -5
Smart gaming tables increase workload, complain Macau casino supervisors Viviana Chan - July 4, 2024 agbrief.com/news/macau/04/07/2024/smart-gaming-tables-increase-workload-complain-macau-casino-supervisors/The implementation of smart gaming tables in Macau seems to have encountered some issues. Nearly 1,000 gaming table supervisors in Macau casinos have expressed dissatisfaction with their increasing workload, which smart tables have failed to alleviate. This information was shared by Macau lawmaker José Pereira Coutinho, who stated in a written inquiry that he had asked the government to intervene after the complainants approached him for help. According to him, during peak hours, each supervisor is required to manage six tables in the mass area, with some smart tables experiencing malfunctions that demand additional staff attention. Casino supervisors pointed out that the gaming company’s current smart table system is not a complete version and is prone to errors during use, with issues occurring in “almost every game.” As a result, staff have to spend a significant amount of time investigating the causes of these problems, according to the legislator. Originally, checking for errors in the smart table system was the responsibility of managers. Over the past year, this task has been assigned to gaming table supervisors, leading to a substantial increase in workload and a significant rise in stress levels. Many supervisors, without sufficient time for thorough checks, have handled their work carelessly, resulting in warning letters issued to them over the past year, he informs. In this context, the casino staff are seeking help from the city’s labor bureau, describing the working conditions as “highly stressful.” “Since the outbreak of COVID-19, the gaming companies have avoided layoffs but have transferred a large number of gaming table supervisors to other roles,” the lawmaker wrote, quoting complaints. “However, two years after the pandemic, the vacancies left by those who departed have not been filled,” the lawmaker added. The written inquiry sent to the government did not identify the names of the casinos from which these complaints originated. Smart gaming tables, commonly referred to as radio frequency identification (RFID) tables, constitute about 10 percent of all tables in Macau as of the second quarter of 2024. All six gaming operators in Macau have revealed plans to implement smart gaming tables in the coming quarters. So far, MGM China is reportedly fully equipped with smart gaming tables in Baccarat games. In a recent dispatch from Seaport regarding smart gaming tables, senior analyst Vitaly Umansky highlighted the significant impact of smart table technology on the gaming sector, pointing out that this technology is set to streamline casino operations, reduce human error, and provide valuable data insights. Smart tables are equipped with advanced sensors and digital interfaces that allow for real-time tracking of game results, player behavior, and betting patterns. According to another analysis from Citigroup, while smart gaming tables themselves cannot drive more foot traffic into casinos, the technology can expedite game play. Citigroup estimates that saving five seconds per game of Baccarat could translate to a 5.9 percent organic growth in gross gaming revenue (GGR). |
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