Good morning. Although Macau’s scale, the success of Marina Bay Sands, and the tumultuous (yet exponential) growth within the Philippines, are intimidating, Vietnam appears to offer the ideal combination of factors to steer it towards success. Ben Lee of iGamiX Management says Hoiana is most well-positioned for future growth in Vietnam right now.
What you need to know
- A new Independent Casino Commission has been proposed for the New South Wales government, following the royal commission inquiry into Crown Resorts.
- Star Entertainment said it saw record domestic earnings in QLD, though its Sydney property suffered from more onerous covid-19 related restrictions.
- Tabcorp reported strong operational results in the FY21 full year, driven by record profits in lottery & keno and improved performance from its wagering and media arm.
- Jade Entertainment has secured approval from the Philippines’ gaming regulator, PAGCOR, to launch its online gaming platform to players in the Philippines.
- DFNN, the company behind the Philippines’ first PIGO platform, has hailed its entry into online gaming an “undeniable success”, posting some $2 million in gross gaming revenue during 2Q21.
On the radar
- The Star is negotiating with the NSW govt to get more gaming machines.
- Genting Hong Kong is expecting a reduction in loss as cruises resume.
- NSW is seeking community feedback on 2018 gaming machine reforms.
- Macau reported a 15.9% QoQ increase in total visitor spending in 2Q21
What the papers say
- PAGCOR records 94% inoculation rate of staff
- Court issues contempt notice to Silver Heritage over public land use
With Macau’s gaming industry failing to recover as quickly as expected, and ever-increasing oversight from Mainland China, what country within Asia offers the best conditions to be able to develop into something akin to the SAR’s glory days as the world emerges from the pandemic?