Macau Gaming Operators Respond to Vegas Cyberattack
LISTEN TO THIS ARTICLE:After the recent cyberattacks that hit MGM Resorts International and Caesars Entertainment, casino operators aren't taking any chances. With much at stake for gaming operators, they're tightening the security of their online systems, with Macau's gaming operators taking more measures.
Macau Can’t Afford a Shutdown
Macau can't afford to suffer a massive breach like that seen at MGM and Caesars. It's still recovering from COVID-19 and subsequent travel restrictions, and anything that could shut down gaming would cause irreparable harm.
Macau's gaming authorities have reportedly taken measures to safeguard against potential cybersecurity risks by undertaking an internal security audit, according to local sources. Sands China, for example, has instructed its associates to modify their social media passwords, particularly those that were shared with their affiliated parties.
MGM China, the Asian arm of MGM Resorts, carried out an evaluation of its cyber safety protocols in order to mitigate the vulnerability to cyber assaults. Another source verified that the casino under MGM China's management remained unscathed amid the recent cyber threat encountered by its parent organization.
Macau's gaming authorities possess sufficient mechanisms in place to thwart cyber intrusions, according to insiders. They also diligently uphold top-tier security protocols with daily monitoring.
As of December 21, 2019, the Macau Cybersecurity Law (MCSL) was put into operation with the aim of diminishing the risks that computer networks and vital infrastructure face in Macau. This legislation mandates that businesses operating within twelve crucial industry sectors must take precautions to enhance their security measures. As a result of the MCSL's implementation, researchers have observed improvements in Macau's overall cybersecurity.
September Shows Revenue Rebound
September has been a strong month so far, which is why a cyberattack now would be particularly damaging. According to JP Morgan Securities analysts, the daily run rate for gross gaming revenue (GGR) jumped by 25% in the first 17 days of the month.
This translates to GGR of $1.04 billion during the period. Despite the improvement, which came even as Macau has had to deal with storms, the total GGR for the month may fall below expectations.
There's still a chance that some benefits will come before the end of the month. From September 29 to October 6, Macau will celebrate China's Golden Week holiday, which is usually a busy time for its casinos. However, because most of the period falls in October, the majority of any GGR benefits will be attributed to that month.
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