Wednesday, July 24, 2024

Nelson Moura

Nelson Moura
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http://agbrief.com
Editor and reporter with 10 years of experience in Greater China, namely Taiwan and Macau, in printed and online media, with a focus on finance, gaming, politics, crime, business and social issues.

LATEST NEWS

Shin Hwa World to raise $33.1M via rights issue

Shin Hwa World expects to raise $33.1 million in net proceeds from its new rights issue. The company plans to use the funds to enhance its core business and support growth.

Macau’s macro conditions challenge gaming performance: Jefferies 

Jefferies' latest investment memo indicates that macroeconomic conditions in Macau are exerting pressure on the region's gaming operators.

Malaysia and Singapore gaming sectors poised for robust recovery in 2H24: HLIB Research

The Malaysia and Singapore gaming sectors are poised for a robust recovery in the second half of 2024, driven by increased tourist arrivals and regulatory developments, Hong Leong Investment Bank Research (HLIB Research) estimates.

POGO ban could negatively impact businesses, employment, and real estate in the Philippines: Economists

The recently announced POGO ban could negatively impact sales, earnings, and stock prices of businesses reliant on the industry, while reducing employment, demand for real estate, and sales for retailers and other businesses in the sector supply chain, economists told AGB.

Market share of Macau gaming operators to continue to shift throughout FY24/25: analyst

No major surprises are expected out of the upcoming second quarter results for Macau gaming operators, according to Seaport Research Partners, however market share is expected to continue to shift as competitive positions realign.

Macau’s visitor arrivals surged 43.6% in 1H24

Macau's visitor arrivals surged by 43.6 percent year-on-year to 16.7 million in the first half of 2024, recovering to 82.4 percent of the pre-pandemic levels in the same period of 2019. 

Dowinn Group reopens all VIP rooms in PH, but majority record no activity

According to a source familiar with the situation, a leading junket operator in the Philippines, Dowinn Group, has reopened all of its previously shuttered VIP gaming rooms. However, the majority of these rooms have not recorded any activity.

Philippines banning POGOs starting from year-end: President

Philippines President Ferdinand Marcos Jr. has announced a ban on Philippine Offshore Gaming Operators (POGOs) during his latest State of the Nation Address.

Look inside Macau’s failed ultra-luxury hotel The 13 after its ‘reopening’

Macau’s failed luxury hotel The 13 is attempting a comeback, as it aims to keep its hotel license in the SAR, having recently announced its reopening, pushing to fulfill its license renewal process, expected to take place in October, before its expiration in December.

Entain to appoint former Games Global Chairman Gavin Isaacs to CEO in September

Global sports betting and gaming group Entain has announced that it will be appointing Gavin Isaacs as its new CEO, effective from September 2nd, 2024.

Philippines Senate defends priorities while police promises safety in POGO probe

Suspended Bamban Mayor Alice Guo has sparked further controversy by suggesting that Philippine Senators Risa Hontiveros and Sherwin Gatchalian should prioritize national issues over her case. Senate President Francis Escudero responded, asserting that Guo has no authority to dictate Senate priorities, especially when under investigation for involvement in illegal Philippine Overseas Gaming Operators (POGO) activities.

AGTech wins lottery terminal supply tenders for Shaanxi, Zhejiang and Jiangsu provinces

Lottery and integrated technology and services company AGTech Holdings Limited (AGTech) has announced that one of its wholly-owned subsidiaries has recently won several lottery terminal procurement tenders in mainland China.

Gambling Commission withdraws previous SkyCity Auckland casino suspension

New Zealand authorities have officially withdrawn a previous 10-day application made to temporarily suspend SkyCity Entertainment Group's Auckland casino gambling area after the company agreed with a 5-day operation suspension.

Evolution reports robust financial results in 1H24

Evolution, a B2B solution provider for casino operators, has reported notable growth in both revenue and profitability first half of 2024, which it indicated reflected its ongoing expansion and strategic initiatives.

Uncertainty looms over Philippines’ POGO industry before Marcos state address speech

Rumors of an impending POGO ban by President Ferdinand Marcos Jr are making the rounds ahead of the latest State of the Nation Address (SONA) this Monday.

Macau charges 59 in major cross-border sports betting bust

Macau’s Public Prosecutions Office has indicted 59 individuals for criminal association and illegal gambling following a major online sports betting bust. 

Kangwon Land reports 3.4% sequential decrease in gaming sales to $220M

South Korea’s Kangwon Land reported gaming sales of $220 million for the second quarter of this year, marking a 3.4 percent decrease from 1Q24, but up 3.8 percent from the same period in 2023.

Universal Entertainment to issue new notes for $760M refinancing

Universal Entertainment announced plans to issue new notes to raise funds for refinancing its existing notes, which have a principal amount of $760 million and are set to mature in December 2024.

CreditSights forecasts Macau’s continued growth amid flattening recovery trends

CreditSights, a division of the Fitch Group, forecasts that Macau's gaming industry may experience continued growth in 2024, despite flattening trends.

Calls for PH presidential action against POGOs on the rise

Opposition to Philippine offshore gaming operators (POGOs) is intensifying, with business associations, economic think tanks, and political groups now advocating for a ban.

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