Good Morning. Scientific Games today announced a rebranding and refocusing of the company towards cross-platform gaming – bridging the gap between land-based and online, young and the old. Fittingly, today we also take a deep dive into “The Metaverse“, looking at what it is and what its relevance is to the increasingly digital gaming industry.
What you need to know
- Scientific Games announced it will be changing its name to Light & Wonder, Inc, reflecting a new company direction that will focus on cross-platform game development.
- Macau gross gambling revenue rose 6 percent year-on-year in February, largely in line with analysts’ expectations, helped by a strong Chinese New Year period.
- Melco Resorts & Entertainment said 4Q21 adjusted EBITDA almost doubled on tight cost controls, but revenue dipped due to a soft performance in the rolling chip segment and on Covid restrictions.
- Australia’s financial crimes and anti-money laundering watchdog has begun civil penalty proceedings against Crown Resorts for “serious and systematic” breaches in the law.
On the radar
- Scientific Games, now Light & Wonder swings to profit in 4Q21
- Melinda Chan to resume CEO role after Levo Chan detention
- Macau operators joined a renewed push to improve vaccination rates.
- Landing International expects to report a 70% surge in 2021 revenue
- Everi sees record earnings in 4Q21 and 2021, driven by its games and fintech segments.
What the papers say
- Macau casino worker charged with stealing HK$300,000 in chips from the table.
- Myanmar leader hands control of hotel and casino in Golden Triangle to associates.
AGB Intelligence
DEEP DIVE
Gambling on ‘the metaverse’ [Part 1]
In 2021, a metaverse-based casino company made headlines after raking in $7.5 million in revenue in just a three-month period, taking bets from as many as 6,000 virtual avatars a day. The casino, named ICE Poker Casino, exists only in the virtual 3D computer-generated world called Decentraland. Today, it is just one of many metaverse casinos found in one of many metaverse worlds. But what exactly is a metaverse casino? What is the metaverse? How does this differ from a traditional online casino? And what are the opportunities for the traditional brick-and-mortar casinos?
Industry Updates
- Endorphina partners with leading operator Hero Gaming!
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