Good Morning. Gaming revenue from Australia’s pubs and clubs in Queensland and New South Wales has bounced back strongly to above pre-Covid levels, though in Victoria the prolonged shutdowns have taken their toll and the recovery is more uncertain. In this week’s Face-to-Face interview, Geoff Wohlsen of Wohlsen Consulting, talks to us about some of the issues the sector is facing, such as staff shortages and the potential for more restrictive regulations, and discusses whether the current pace of growth can be sustained.
What you need to know
- Macau authorities have reiterated that they have no plans to impose a Mainland-style full city lockdown even though the number of new cases rose by a further 128 as of Wednesday.
- Suncity Group Holdings stock soared 137 percent on resumption of trading in Hong Kong on Thursday after executive director Andrew Lo was confirmed as majority shareholder.
On the radar
- Sri Lanka’s new government approves issuance of casino licenses.
- Entain posts 18% gain in 1H22 revenue, but economic uncertainty weighs.
- J.P. Morgan initiates coverage at The Lottery Corp with overweight rating.
Gaming revenue in Australia’s pubs & clubs sector has shown mixed signs of recovery in the country’s three largest states, with Queensland and New South Wales surging back to above pre-Covid levels and Victoria struggling to catch up. In this week’s Face-to-Face, Geoff Wohlsen, of Wohlsen Consulting, which focuses on this sector, talks about the differences in the recovery patterns. He also discusses the ongoing staffing challenges in the sector and whether the pokies are as appealing to the younger generation as their parents.
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