Good Morning. The gaming market in Cambodia is undergoing significant changes, with aims to improve the operating environment, transparency and market conditions, but Thailand is becoming increasingly worrisome, notes expert Daniel Li. Speaking of Thailand, MGM’s CEO is highly interested in the region, while also exploring its Japan buildout and possible gaming options in the UAE. Meanwhile, in Macau, brokerages are estimating May gross gaming revenue could hit $2.5 billion, boosted by Labor Day holiday visitation.
What you need to know
- Cambodia’s gaming market has strong potential as the government moves to improve regulations, however Thailand is a looming threat.
- Thai gaming market extremely compelling, Japan buildout is shaping up while interest in the UAE is also on the rise: MGM CEO.
- Macau’s May GGR could reach $2.5 billion, with Labor Day hotel rates expected to be 30% lower than CNY: brokerages.
On the radar
- Casino sales in GKL and Lotte Tour drop m-o-m in April.
- Queensland rules Chow Tai Fook suitable partner for Brisbane casino.
- South Korea’s Paradise Co sees 59% surge in gaming revenue in April.
- Imperial Pacific needs $150 million to complete Garapan IR.
- Macau Police seize 585 counterfeit chips, 5 arrested.
- PAGCOR cracks down on illegal Facebook gambling, 16 arrested.
AGB Intelligence
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Cambodia not eliminating gambling, Thailand is a threat
Cambodia’s gaming story is not over by a long shot, with gaming expert Daniel Li pointing out how the country is trying to improve its oversight and legislation, rather than eviscerate the industry. Even as it attempts to grow, however, the threat of Thailand is now a concern, luring away both talent and punters, even threatening the success story of NagaWorld. But strides are being made and both authorities and companies are wary of the challenges ahead.
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