Good morning. It’s a series of ups and downs for embattled The Star. The newest extension on its Sydney casino special manager’s tenure could bode well for its remediation efforts, but a top former regulator says there’s zero chance it will get its license back at this point. And a total license cancellation is still possible, with potential investors circling, weighing the gains and risks – a beneficial price point but with knock-on obligations. Meanwhile, in Macau, MGM is firmly pursuing its Thailand exploration, with the group’s CEO taking a visit to see how to leverage the investment through MGM China.
What you need to know
- The Star has zero chance of being given back its Sydney casino license after Bell Two, but is being given heady leeway to improve: expert
- MGM has its sights firmly set on exploring Asia, looking to develop any projects through Thailand via MGM China, says its CEO.
On the radar
- Macau GGR hits $2.31 billion in July, after a slow June.
- Macau’s July gaming revenue falls short, analysts forecast recovery in August.
- The Star Sydney special manager appointment extended to March 31st, 2025.
- East Timor President in favor of online gaming targeting overseas gamblers.
- The Star: not yet informed of report on Sydney casino operations.
AGB Intelligence
AUSTRALIA
The Star has 0% chance to get its Sydney license back: Expert
Despite The Star’s executive reshuffle and efforts for remediation at its Sydney casino, the results of the Bell Two inquiry are unlikely to be positive for the operator, with a top expert predicting that there will be an extension on the current casino license suspension to allow The Star to get its house in order. An extension on the mandate of the current special manager until March 2025 could bode well for the operator, either to fend off or invite takeover bids from parties better positioned to keep the license.
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