Mainland China

China’s central bank has placed a halt on all initial coin offerings (ICO), and has deemed them as illegal fundraising, according to reports.

Two officials previously in charge of China’s state lottery have been stripped of their positions under suspicion of bribery and corruption, reports Reuters.

The Mainland Chinese government has formally laid down new rules on overseas investments, restricting investment in property, hotels, entertainment, sports clubs and film industries.

Lottery service provider AGTech Holdings Ltd, saw a 29.4 percent decline in revenue for the first half of 2017, mainly due to the reduced sales of lottery hardware products.

Lottery supplier MelcoLot is proposing a change to its english name to Loto Interactive Limited, in a move to provide the company with a more “appropriate corporate image.”

The last five years have seen a tumultuous business environment for casino operators in Australasia. Barely five years ago, CFOs of two of the largest concessionaires in Macau were predicting annual revenues in excess of US$100 billion by 2020. After all, they argued, less than five percent of the adults from China had been to Macau, and hence the “true” long-term potential was almost limitless.

The last five years have seen a tumultuous business environment for casino operators in Australasia. Barely five years ago, CFOs of two of the largest concessionaires in Macau were predicting annual revenues in excess of US$100 billion by 2020, driven by the China VIPs. Attracted by China's massive potential many of the region's casino operators placed their focus on the one market. Now that's changing and marketing strategies need to change too. 

 



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Lottery provider MelcoLot reported a narrowed loss of HK$6.3 million for the six month period ended June 30, attributed to a decrease in employee benefits costs.

The members of an online gambling gang were reportedly rounded up and returned to China from Fiji after Beijing sent a team to the island to investigate, according to media reports.

Lottery service provider 500.com reported a significant uptick in revenues for the second quarter of 2017, primarily generated from mobile gaming and sports information services.

Increased anti-corruption activity in China over 17Q2 may pose a risk to premium spend, says Bernstein analysts.

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