Ainsworth Game Technology (AGT) is expecting to record a profit before tax of AU$1 million for the second half of the company’s fiscal year.
The figure is largely influenced by a AU$3.3 million gain from a disposal of a Nevada land parcel carried out in March.
The group further expects to see a 128 percent increase in EBITDA for the period, compared to the first half of the fiscal year, topping AU$13.2 million. AGT has also signed a five-year partnership with GAN Limited to provide real money online game assets within the US for some $30 million.
Melco Resorts & Entertainment may need to raise its dividend payout to help its parent company, Melco International Development, to fund plans for a $616 million theme park in China, Morgan Stanley said.
For this edition of our magazine, we focus on Southeast Asia, with a particular look at the Philippines. The country’s casino industry has been among the hardest hit in Asia, with the integrated resorts in Manila’s Entertainment City having remained mostly closed to the general public since the beginning of the crisis last year.
The world is bouncing back, or at least coming to grips with the fact that going forward not much will be the same as before. Commendably, this industry quickly understood the need to adapt to a new normal, and that the days of targeting the low hanging fruit of the VIP sector are gone.