AGBrief Editorial

The Macau government gathered nearly $3.71 billion in fiscal revenue from gaming taxes during the initial four months of 2024, according to the latest data unveiled by the city's Financial Services Bureau on Thursday.

Sega Sammy Holdings is set to sell its Phoenix Seagaia Resort in Japan to U.S.-based Fortress Investment Group, redirecting focus towards video games and other sectors, Nikkei Asia has reported.

The controlling shareholder of the Philippine Stock Exchange-listed Suntrust Resort Holdings, LET Group Holdings (formerly known as Suncity Group Holdings), has announced that its subsidiary recorded a $4.5 million loss in the first quarter of the year.

SJM Holdings Limited (SJM) first quarter financial results showed slight improvements and met analyst expectations, but the slow ramp-up at Grand Lisboa Palace amidst a robust Macau recovery was worrying for the gaming operator, brokerage Seaport pointed out.

Mohegan, the US-based operator also behind the Incheon Mohegan INSPIRE integrated resort, has announced its highest quarterly net revenue in its history, hitting $461.73 million, up by 13.8 percent yearly.

International Entertainment Corporation has announced that it has begun operating its casino in Manila as of Thursday, a property previously owned by PAGCOR.

Everi Holdings saw a first-quarter net income of $4.6 million. This occurred amidst a 5.6 percent year-on-year decline in revenue, which amounted to $189.3 million, as per a press release issued on Wednesday.

SJM Holdings recorded a 74.5 percent year-on-year increase in net gaming revenue in the first quarter of 2024, reaching $827 million.

South Korean casino operator, Paradise Co. Ltd, reported a considerable 228 percent quarterly rise in operating profits in the first quarter of 2024, mainly due to the steady increase in play by Japanese and mass markets.

Deutsche Bank notes that achieving Light & Wonder's 2025 $1.4 billion adjusted EBITDA target will be a challenging task, as their forecast indicates the figure is 'well below' the goals articulated by management.

CDNetworks, the APAC-leading network to deliver edge as a service, today announced it rapidly expanded its global network of scrubbing centers in 2023 to help organizations boost availability, enhance resiliency, and secure the digital experience.

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.