Good Morning. Card denied. Following a ban on credit card use for online gambling in Australia, that’s exactly the case, prompting a significant decrease in sports betting in the nation. While the move discourages more casual punters, the dwindling use of plastic in the online world means that the impact is unlikely to be that significant. Looking further afield, Genting Malaysia’s profit could rise up to $406 million by 2030, according to analysts, despite potential risks linked to its New York investment. And down under, Bally’s has cleared its hurdles to become a significant shareholder in The Star, with all the changes that entails.
What you need to know
- Australia’s ban on using credit cards for online gambling prompted a noticeable drop in sports-betting activity, a report shows.
- Maybank sees Genting Malaysia’s profit peaking at $406M by 2030, even as CreditSights warns of leverage pressures and rising downgrade risks.
- Bally’s becomes major Star Entertainment shareholder with 37.7% interest, reshuffles the board to include new management.
On the radar
- Novomatic extends takeover bid for Ainsworth Game Technology.
- Six police implicated in alleged theft of POGO raid evidence money.
- “POGO mayor” Alice Guo to be transferred to jail within the week.
- Direct flights between Brisbane and Cebu launched.
- Macau Legend board approves capital reorganization plan.
- Brightstar Lottery launches $750M in senior secured notes.
- BetMakers enters exclusive 5-year agreement to launch CrownBet.
AGB Intelligence
AUSTRALIA
Credit card ban prompts drop in sports betting: report
Australia’s efforts to mitigate gambling harm appear to be working, at least on some fronts. According to a recent study, the ban on use of credit cards for online gambling has caused a significant drop in wagering, stopping many punters from betting with borrowed money. The ban largely affects casual punters, mostly due to the inconvenience. However, given the already dwindling use of credit cards in online betting, the impact is not likely to be significant.
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