Good Morning
NagaCorp was hit hard by COVID, with the company still experiencing a gradual recovery, notes Chairman Timothy McNally. The group is working hard to restructure its finances to figure out the scope of Naga 3, which is likely to only open in 2029. Meanwhile in Macau, Galaxy is focusing heavily on entertainment, driving the mass market through its doors, with Phase 4 of the property scheduled to open in 2027.
What you need to know
- NagaCorp in gradual recovery post-COVID, financing to dictate the scope of Naga 3: Chairman Timothy McNally.
- Galaxy Group Entertainment all-in in mass market and entertainment, Phase 4 confirmed to open in 2027 – CFO.
On the radar
- Galaxy market share declined in Q4 2023: CBRE.
- Ainsworth ends 2023 with $5.8 mln in net losses.
- Indian authorities freeze $15 million linked to Chinese betting apps.
- Take down gambling ads, Indonesia tells X.
AGB Intelligence
FACE TO FACE
NagaCorp in gradual recovery phase: Timothy McNally
Despite 2023 falling slightly short of expectations, the Chairman of NagaCorp says that the company is in a gradual recovery after COVID-19. Both VIP and mass have returned and as the number of flights increases, so should foot fall. In the meantime, Naga 3 is still scheduled for 2029, with financing to dictate the scope of the project.
Corporate Spotlight
Basketball player Kai Sotto is the new 1xBet ambassador in Asia
1xBet, a leading global betting company, proudly announces its partnership with rising basketball star Kai Sotto. Hailing from the Philippines, Kai Sotto will serve as the brand ambassador, championing basketball in his homeland and across various Asian nations, extending the 1xBet brand presence across Asia.
Industry Updates
- Aristocrat appoints Matthew Primmer as Chief Product Officer.
Registration open for the ASEAN Gaming Summit 2024
Registrations for the 2024 ASEAN Gaming Summit, the calendar conference of excellence of the gaming industry in the region, are officially open. Scheduled from 19th to 21st March 2024, the Summit is the gateway to the Next-Gen of gaming in Asia.
Asia Gaming Awards 2024 recognizing excellence on March 20th in Manila
The Asia Gaming Awards, hosted by Asia Gaming Brief, is set to once again recognize and celebrate the outstanding achievements in the Asian gaming industry. The Awards ceremony will take place on the evening of Wednesday, 20th March 2024, at the Grand Ballroom of the Shangri-La The Fort, Manila.
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