Good morning. There’s a widely accepted belief that the pandemic caused an immense shift to online/digital across all industries. However, this shift doesn’t appear to be as pronounced when it comes to retail betting. Whilst online gambling surged during the pandemic, it has also been noted that retail betting revenues bounced back sharply once lockdowns were lifted too. In today’s Deep Dive, we examine the phenomenon.
What you need to know
- Macau will shut down most entertainment venues from midnight on Wednesday as authorities deal with the latest Covid outbreak, although casinos will remain open for now.
- South Korea’s foreigner-only casinos reported mixed fortunes for September, with Grand Korea Leisure seeing a rise in casino sales and Paradise Co. reporting revenue plunged.
- Everi Holdings said it has tightened the outlook for 2021 full year net income and Adjusted EBITDA to the top end of the previously provided range.
On the radar
- SJM says Casino Oceanus closed temporarily for disinfection
- AGEM Index gains 3.3% in Sept. from August, led by major suppliers
- LRWC director Alfredo Benitez has resigned in order to chase a public office position.
- Singapore appeals court denies Bloomberry appeal in long-running GGAM case
What the papers say
- Saipan Casino Control Commission still has 12 employees left.
The novel coronavirus has certainly changed the way we live our daily lives. From the digitization of banking, the migration to remote working, to the way people buy their weekly groceries – there’s been an overall shift in consumers’ priorities and preferences across all walks of life. Bucking this trend, somewhat, are retail betting shops. Whilst foot traffic fell in markets where stay-at-home orders were imposed, most observed a significant bounceback of retail customers once they were allowed to reopen again, suggesting that the online shift may have been temporary.
- Scientific Games agrees to acquire ACS’s cashless table game solution
SUPPLIER SPECIAL REPORT
It’s no secret that the thrill of cockfights (or sabong, as we know it), lies in the energy that fills an arena, with the sound of the crowd cheering and standing on the edge, waiting to find out what luck lies ahead. Jade Entertainment and Gaming Technologies, Inc. has found a way to keep the same exhilaration, with the recent launch of Jade Sabong in September.
Compliance is the heart of what Gaming Laboratories International does for suppliers, regulators, and operators, all over the world. In more than 480 jurisdictions, suppliers, regulators, and operators turn to GLI for help in overcoming their compliance challenges in the areas of land-based gaming, iGaming, lottery, and cybersecurity.