AGBrief Editorial

Light & Wonder has delivered yet another strong quarter, marking its 12th consecutive period of yearly revenue growth, as gaming revenue topped $476 million – a 14 percent yearly increase.

Indian casino operator Delta Corp announced that its casino revenue grew from $65.3 million to $70 million in the financial year ended March 31st.

South Korea’s Kangwon Land has reported net income of $68 million for 1Q24, a 26 percent increase from 4Q23, but down 8.5 percent sequentially.

Wynn Resorts' Chief Executive Officer, Craig Billings, revealed recently that the group's Wynn Al Marjan project in the UAE should absorb almost $900 million in investment. As for Thailand, the group is "actively" considering possible greenfield development opportunities and observing the development of its future gaming regulatory framework.

The CAPEX related to Wynn Macau‘s concession commitments could range between $350 million and $500 million in total between 2024 and the end of 2025, according to the group's CFO.

Osaka's integrated resort developer consortium has secured a $3.4 billion loan from a bank consortium, to further the development of the country's first casino.

Philippine retail gaming provider DigiPlus Interactive Corp posted a net income of $35 million in the first quarter of the year, marking a 358 percent increase from 2023.

The Philippines is stepping up efforts to block illegal gambling sites, with Telecoms firm Globe alone blocking 1,345 domains in its network in 1Q24.

Wynn Macau saw a 66.4 percent surge in its operating revenues during the first quarter of the year, on a yearly basis, hitting nearly $1 billion, far overshadowing its other segments.

Illegal horse racing betting exchange Citibet has significantly expanded its potential market through technological advancements, enabling its presence on thousands of third-party illegal betting websites worldwide and exacerbating corruption and money laundering risks, a report by the Asian Racing Federation Council (ARF) shows.

Macau's hotel occupancy rates reached 89.2 percent during the five-day Labor Day holiday, up by 4.5 percentage points year-on-year, according to information from the Macao Government Tourism Office (MGTO).

Jefferies notes that the latest update for Macau gaming industry is ‘positive’ as expectations for May holiday had been low given bad weather, but gross gaming revenue (GGR) indications are ‘strong’ and ‘only slightly below October's Golden Week holiday’.

Premium Leisure Corp. (PLC), an investor in City of Dreams Manila, is one step closer to delisting from the Philippine Stock Exchange (PSE).

The Philippines’ tourism market continues its positive momentum. In the first four months of the year, the country received nearly 2 million international visitors, marking a 17 percent increase compared to the same period last year.

Prosecutors have received testimony from 10 Chinese nationals implicating seven of their compatriots in illicit activities at a Pasay City-based POGO (Philippine Offshore Gaming Operator) firm raided last year.

Philippine Senator Sherwin Gatchalian has urged for an investigation by the Senate into the growing presence of foreign nationals within exclusive gated communities.

HK listed Century Entertainment has announced the signing of a new deal that sees the company operate a VIP gaming room at a casino in Dara Sakor, Cambodia.

A top analyst is forecasting that Macau’s gross gaming revenue in May could hit its highest monthly tally so far this year, and the highest since the onset of the pandemic, at $2.5 billion, even potentially going as high as $2.58 billion.

Wynn Resorts has released new mock-ups of its integrated resort under construction in the United Arab Emirates.

According to a recent Labor Day edition of the Premium Mass table survey from Citigroup, Macau gaming operators Galaxy Entertainment and Sands China, with the largest hotel room inventory, 'seem to benefit the most from the holiday crowd.’