AGBrief Editorial

Gambling giant Entain has surprised analysts with its resilience in the face of challenging market conditions.

In Q1, Macau Gross Gaming Revenue (GGR) experienced a 6 percent quarter-on-quarter growth, reaching MOP57 billion ($7.06 billion), equivalent to 75 percent of pre-COVID-19 levels.

Crown has revealed the latest addition to its redevelopment plans with the introduction of ‘The Henley at Crown Melbourne,’ an upmarket bar set to open later this year.

The gaming operators Galaxy Entertainment and MGM China consider that the industry’s competition is 'intensifying' but remains ‘manageable.'

The investment bank Morgan Stanley has lowered Galaxy Entertainment’s earnings forecast due to market share loss.

New Zealand and Australian gaming operator SkyCity Entertainment Group has announced the appointment of former Aristocrat executive Jason Walbridge as the company’s new Chief Executive Officer.

Macau’s Chief Executive, Ho Iat Seng, expresses his confidence that Macau will attract more than 30 million visitors this year.

The final death knell for Imperial Pacific International appears to have been rung, as Hong Kong’s High Court ordered the company to be wound up and appointed a provisional liquidator.

Newport World Resorts achieved a new annual high in gross gaming revenues in 2023, topping $600 million, with double-digit returns in its non-gaming revenue.

During a plenary session of the Legislative Assembly on Tuesday, Macau's top official, Chief Executive Ho Iat Seng, reiterated that the Macau Jockey Club (MJC) land would not be used for gaming purposes.

The Thai Cabinet has designated the Finance Ministry as the primary agency responsible for reviewing a report prepared by an ad hoc House committee regarding the potential for establishing entertainment complexes with casinos in the country.

Gaming revenue at Okada Manila fell by nearly a quarter in the first three months of the year, as gross gaming revenue from the VIP segment tumbled 42.61 percent year-on-year.

Hong Kong regulators granted conditional approval for the introduction of exchange-traded funds (ETFs) for spot Bitcoin and Ethereum on Monday.

MGM Resorts is suing the United States Federal Trade Commission (FTC) in efforts, claiming that the regulatory body is overstepping its bounds in its investigation into the cyber-attack on the gaming operator last September.

The investment unit of Bank of America says that it expects Melco will resume dividend payments from FY25 onwards. This forecast has brought forward the timing compared to the previous expectation of only in FY26.

According to a recent memo from Citigroup, business trends in the Macau gaming sector appear to be resilient in April, especially leading up to the Labor Day break.

Belle Corp’s consolidated revenues improved by 3 percent to $98.6 million in 2023 from the $95.4 million recorded in 2022. These were driven mainly by other gaming-related revenues.

Macau’s Fisherman Wharf operator, Macau Legend Development Ltd, has announced another extension of the timeline for finalizing arrangements related to the planned sale of a casino resort business in Laos. The new deadline is now set for May 3rd.

The Macau Economic Association (MEA) expects Macau’s GDP to grow by 19 percent in the first quarter of the year, reaching MOP92 billion ($11.4 billion). This figure represents Macau’s economy returning to about 82.8 percent of 2019 levels.

Australian bookmaker BlueBet has been fined some AU$50,000 ($32,400) by Victorian state authorities over gambling advertising breaches linked to 43 charges of displaying gambling advertising on or a above a public road.