Good morning. Have regulators “killed the Golden Goose” in Japan? If you look at the actions of Las Vegas Sands, Suncity and Galaxy, Caesars, and Hard Rock, you might just think that to be the case. Global Market Advisors’ Brendan Bussman gives a glimpse into what’s in store for operators that are still in the running for a Japan IR. Take a look at our most recent interview.
What you need to know
- Star Entertainment has lost its lawsuit against insurers over billions of dollars in business interruption claims as a result of the Covid shutdown.
- Universal Entertainment saw a sharp rise in losses in the second quarter, with falling revenue in Okada Manila and its Pachinko machine sales.
- Macau authorities say that no new Covid cases have been discovered in the territory after testing 55% of the population.
- Crown Resorts’ Perth casino approved credit for international and local gamblers, even though the practice is illegal in the state.
- Oshidori, Casino Austria and Niki Chau Fu have now presented their proposed IR plans to the Nagasaki IR review committee.
- Marina Bay Sands has reopened after a two week closure, touting an enhanced Covid-19 testing protocol for all staff and a 90% vaccination rate.
On the radar
- PAGCOR released P200m to the Labor Department and Bohol town.
- A Nevada judge has revived a securities fraud lawsuit against Wynn Resorts.
- Macau’s ‘Big Six’ operator’s upper management is more than 90% local.
- Konami has posted record 1Q profit as all business segments improved.
- The AGEM Index has fallen for first time in 8 months in July.
- Don of Yokohama says he’ll commit suicide should a casino arrive in the city.
- Australia’s communication watchdog is cracking down on igaming affiliates.
What the papers say
- Crown Perth paid for a WA’s casino regulator’s trip to Macau, says inquiry.
- CNMI casino commission only has funding until August 2022.
- Malaysian gaming to be a main beneficiary to economic reopening.
- Vietnam and Cambodia will step up cooperation on cross-border crimes.
- Casino workers in Laos have been stuck with no income since the lockdown.
Global Market Advisors partner Brendan Bussmann says Japan remains a market with high potential, despite the clunky legislative framework put in place by the government. However, a lot still hinges on upcoming mayoral elections in Yokohama, which could return an anti-IR candidate and potentially leave two of the biggest names in the race out in the cold. He also discusses how Saipan needs to get its regulatory house in order before even considering moving into online gambling.
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