Good morning.
We launch the week in grand fashion with an exclusive interview with Michael Ahearne, the new CEO of the SkyCity Entertainment Group. We cover many topics in the interview, including the fact that SkyCity sees its future residing in online and land-based gaming convergence. Turning to news that broke over the weekend, we examine the lockdown in Sihanoukville as Cambodia grapples with a local resurgence of the Covid pandemic. Finally, we take note of what the ratings agencies are saying about the earth-shifting move by Las Vegas Sands to extricate the firm from the glittering city that gives them their name.
First, the news
- Sihanoukville goes into lockdown
- Ratings firms mixed on LVS asset sale
- Crown WA probe to take form of Royal Commission
- Donaco sees improvement in slot business after restructuring
- Macau GDP fell 56.3% in 2020
- Wynn Macau offers leave for employee vaccinations
- International Entertainment Chairman disposes of shares
- Ukraine legislature fails to agree on gambling commission
- POGO tax collections falling about 50% in 2021
- SkyCity Auckland property reopen
- Dream11 and NZ Cricket extend partnership to 2026
- Wakayama tests potential IR bus service
- Anti-casino group opposes Nagasaki IR
- Joyce Tang appointed as IPI potential receiver
What you need to know
Ratings firms mixed on LVS asset sale
Las Vegas Sands’ sale of its Nevada properties for $6.25 billion has elicited differing reactions from global credit ratings agencies. Fitch Ratings has reaffirmed the casino operator’s ratings and negative outlook, but has decided that the transaction is a “slight credit negative” for the group. Its reasoning is that Las Vegas Sands will lose a source of revenue from Las Vegas once those properties ramp up again and also marginally reduces the group’s diversification. Moody’s says the deal is a modest credit positive.
Sihanoukville goes into lockdown
“No In and No Out” is the watchword in Sihanoukville as authorities grapple with a local Covid resurgence that has reached over a hundred people in recent days. Under the order, only cargo and goods vehicles, ambulances, and security services are authorized to move around the zone. However, Prime Minister Hun Sen has also urged trade and business activities to continue so as not to cripple the economy in Sihanoukville.
Insights
DEEP DIVE
SkyCity CEO sees future in convergence
SkyCity Entertainment Group chief executive Michael Ahearne says the future lies in online and land-based gaming convergence, a comment he has made after two years of leading the company’s online efforts. “If you look at all industry and sectors, particularly retail sectors, you’re seeing a transition from consumers moving from traditional bricks and mortar, whether its a retail shopping or a retail experience, into wanting to consume the product digitally, and our sector is no different,” he tells AGB in an interview.
Industry Updates
- Crown Resorts to phase out indoor smoking at all facilities
- Bally’s bids for Allied Esports Entertainment
- BBIN urges care for the world in latest TGB Charity video
- Stake.com becomes official UFC betting partner for Asia, LATAM
- PAGCOR releases PHP25m for Tapaz evacuation centre
Corporate Spotlight
All set for the FBM slots expansion campaign
FBM has been developing its slots offer over the last three years, with operations established in Europe and North America. The company is now accelerating its slots expansion campaign in Asia with Ways and Easy$Link – the two lines of spin reel titles composing FBM’s value proposition for this specific game type.
AGB Initiatives
MEMBERSHIP | MAGAZINE | ASEAN | CAREERS
