Good morning. Esports, as popular as it is across Asia, still currently has no legal avenue for betting in the region. Part of this is due to the conservative approach to gambling in general, but part of this is also a major lack of understanding from regulators about what it’s all about. That being said, there have been some murmurings of companies and industry associations which are pushing for esports betting legislation. We hear about what’s happening currently in Japan, Korea and India.
What you need to know
- Suncity Group Holdings said its 1H21 revenue surged 99 percent, boosted by its Summit Ascent unit, which operates the Tigre de Cristal in Russia.
- Landing International said non-gaming revenue helped the company nearly halve its loss in 1H21, although gaming losses weighed on its results.
- Genting Hong Kong said its 1H21 loss narrowed thanks to the resumption of cruises to nowhere out of Taiwan and Singapore, but warned that the outlook remains highly uncertain.
- Oshidori International has reiterated its claims of an unfair bidding process for a Nagasaki IR, while recording net profit of HKD889 million in the first half-year.
- Australia-listed Donaco International posted an EBITDA loss for FY21 after Covid forced the intermittent closure of its properties in Vietnam and Cambodia.
- Imperial Pacific posted a narrower 1H21 loss and said it believes the business is a going concern despite legal actions and the suspension of its license.
On the radar
- G2E Las Vegas requires mandatory vaccination from all participants
- International Ent confirms cooperation with PAGCOR for Manila casino.
- Macau Legend said 1H21 revenue rose 45 percent improved by Macau.
- Melco International posts 1H21 revenue increase, boosted by mass.
- Okura closes three pachinko parlours, citing poor performance due to Covid.
What the papers say
- PAGCOR confirms Galaxy Entertainment has green light for Boracay casino.
- Saipan’s casino regulator cites AML concerns for proposed i-gaming bill.
Asia’s legalized esports betting scene is still lightyears away from the likes of Europe and the U.S., though there is an acknowledgement that groundwork is being laid for its future growth.
This is despite the fact that the region has been leading the world in esports revenue for years now, making up for 54 percent of all global esports revenue (according to Niko Partners). Mainland China is the dominant market leader here as the single largest esports market in the world by both revenue and viewership.