Good Morning. The Isle of Man continues to be a hotspot jurisdiction for licensing, but the process isn’t for just anyone, notes the CE of the Digital Isle of Man. Other jurisdictions are aiming to get a piece of that pie, but there’s already a backlog of companies awaiting their licensing. Meanwhile, Light & Wonder could see some challenges in hitting its 2025 targets, note analysts. And in Macau, SJM saw a strong increase in gaming revenue in the first quarter, with Grand Lisboa Palace finally ramping up.
What you need to know
- Isle of Man license isn’t “available for just anyone”, while interest blooms alongside competition from other jurisdictions.
- Deutsche Bank: challenges in Light & Wonder reaching its 2025 targets, current valuation is high considering potential growth slowdown.
- SJM reports a 74.5% surge in 1Q24 net gaming revenue to $827M, with adjusted EBITDA improvements compared to last year.
On the radar
- INSPIRE helps Mohegan hit historic quarterly net revenue high.
- Japanese and Chinese punters drive up Paradise’s revenue in 1Q24.
- Creditors move to dismiss Imperial Pacific’s bankruptcy petition.
- GKL with almost 500% jump in net income in 1Q24.
- Everi Holdings revenue down by 5.6% to $189.3M in 1Q24.
- International Entertainment starts to operate new casino in Manila.
AGB Intelligence
ISLE OF MAN
Intricacies of licensing on the Isle of Man
The Isle of Man is vying for the light, as other licensing jurisdictions come online, but the Chief Executive of the Digital Isle of Man, Lyle Wraxall, says the region still holds strong potential, as an “easy and friendly place to do business” for online gaming companies. However, the region’s licensing process is not for everyone, as each business needs to decide what fits their scope, with the current backlog quite high.
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