Though accelerated by the Covid-19 pandemic, growth of regulated online gambling in the region will struggle as a result of the harsh political landscape within Asia, says Danny Too, general manager of Cherry Interactive in an interview with AGB this week.
That being said, there is opportunity in Macau, as the city further relaxes entry requirements with neighbouring Guangdong, a move which is expected to boost gaming revenues for the months ahead.
Meanwhile, Scientific Games is reportedly considering Australia for the IPO of its global lotteries business, which is estimated to be worth US$3.7 billion. If it goe ahead, it could be one of ASX’s biggest non-privatisation IPO in the country.
In Japan, the Niki Chyau Fwu (Parkview) Group, one of the three finalists seeking to become the IR operator partner of Nagasaki Prefecture, has unveiled three major partners in its development consortium, all of which are Japanese construction companies.
First, the news
- Interview with Danny Too: Politics dash online expansion hopes
- Scientific Games considering Australia IPO for lotteries
- Niki Chyau Fwu adds partners to Nagasaki consortium
- Delta variant brings continued woes to Asian gaming
- Macau gaming tax figures down 9.8% in 1H21
- Sands China says over 10,000 received/registered for vaccines
- Clarivest called to explain IR plans for Wakayama
- Akimoto faces five-year prison term for casino bribery scandal
- Melco announces share purchase and award program
- Far East Consortium to develop 56-storey skyscraper in London
- Crown chair tells inquiry she was “overruled” on reforms
What you need to know
Taxes received from Macau’s gaming operators in between January and June of this year totalled some MOP19.64 ($2.45 billion) during the first six months of the year. That amounts to nearly 40 percent of the income budgeted by the authorities from the segment for the whole year, giving hope that a pickup during the third and fourth quarter could surpass the government’s income expectations. Hopes are rising that tax revenue generated from GGR could surpass that predicted by Macau authorities, especially given the new border relaxation announced with the neighboring Guangdong province.
US-based Scientific Games is reportedly considering Australia for the IPO of its global lotteries business, estimated to be worth some AU$5 billion ($3.71 billion), according to the Australian Financial Review. The news comes just a week after the company announced its intentions to divest its Lottery and Sports Betting businesses, either through an IPO, sale or strategic merger or special purpose acquisition company (SPAC). If Australia is selected, the IPO could be one of the ASX’s biggest non-privatisation IPO in the country.
The Niki Chyau Fwu (Parkview) Group, one of the three finalists seeking to become the IR operator partner of Nagasaki Prefecture, has unveiled three major partners in its development consortium, all of them Japanese construction companies. The three partners in the prospective venture are Hazama Ando Corporation, a major firm based in Tokyo; Okumura Corporation, based in Osaka; and Tanigawa, a local Nagasaki firm that operates across Kyushu.
FACE TO FACE
Danny Too, general manager of Cherry Interactive, speaks with Asia Gaming Brief managing editor, Sharon Singleton, about Asia’s online gaming industry from PIGOs in the Philippines to developments in Dubai. He tells us unstable governments, a military coup in Myanmar and China’s increasing use of soft power are all undermining hopes for a greater opening to online gambling in the region.
The well-known content provider in the iGaming industry— Pragmatic Play will continue to expand its footprint in emerging markets worldwide. The increasing acceptance of iGaming has resulted in a gradual shift in attitude toward regulation, with more and more markets taking an approach to deliver legislative roadmaps that will drive business in a period of hyper-growth.
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