Good Morning. Quarantine-free travel between Macau and the Mainland resumed last night but arguably with little impact on casino gaming operations in the short term. While the damage to 2Q22 has been done, brokerages expect a gradual recovery. Shifting gears, online gaming is starting to overshadow sports betting in the US while in Asia the industry is being redefined by new trends, payments and regulatory outlook. Check out the insights shared by the industry’s operators and stakeholders at ASEAN 2022.
What you need to know
- MGM China posted and EBITDA loss of $52m for 2Q22, as Macau travel and entry restrictions severely impact operations.
- IGT’s net loss stood at $4m for 2Q22 while announcing that NUSTAR will feature IGT systems and cashless wallet solutions.
- Macau-China quarantine-free travel to have limited impact on gaming as eased restrictions appeal to essential travelers only: J.P. Morgan.
What the papers say
- STDM extends SJM “disappointing” HK$2B loan to support Macau tender.
- Vixio estimates $6.35B tax revenue ceiling from legal iGaming in the US.
AGB Intelligence
ASEAN 2022 – FINDINGS
Innovation redefining Asia’s online gaming and sports betting
Trends that emerged from the global pandemic are redefining Asia’s online gaming and sports betting. New customer preferences and product innovation are leading the industry’s rebound as more jurisdictions look to regulate, the ASEAN 2022 online stakeholders panel shared. The discussion includes insights from operators Pinnacle – Jane Guan, and 48 Pacific – Bhavesh Parthi; India consultant Jaydeep Chakravartty; insurance provider EMIRAT AG – Frank Herold, and was moderated by insider Pierre Wuu. Regulation, the return of the industry to Manila, and the adoption of localised payment solutions were among the topics debated.
Industry Updates
- PLAYSTUDIOS announces new blockchain division to bring IRL rewards.
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