Good morning. Pinnacle CEO Paris Smith said there was a strong recovery in sports betting volumes since the return of live tournaments, however, it was slightly less than anticipated as punters, keen to catch up with friends, weren’t so focused on in-play betting. Smith discusses some of the other interesting trends in the sports betting world over the last few months.
What you need to know
- Macau’s gaming tax revenue up to July was only 44% of the budget forecast for the year, indicating a significant shortfall in the government’s accounts.
- Sands China said it’s planning an issue of senior notes to refinance existing debt that comes due in 2023.
- Manila’s mayors have asked the Inter-Agency Task Force tasked with managing the pandemic to consider easing restrictions for those fully vaccinated.
- Crown Resorts’ independent auditor KPMG has noted a “going concern” due “significant doubt” on the group’s ability to continue.
On the radar
- 888 Holdings buys William Hill non-U.S. assets from Caesars Corp. for $3b
- Macau tweaks border requirements from H.K., but no tourism travel
- Sands China issued senior notes to support continuing ops, assist pandemic challenges.
What the papers say
- RWS sustainability head says resort is preparing for more eco-conscious travelers.
FACE TO FACE
Pinnacle CEO Paris Smith said the company has seen a strong recovery in sports betting volumes since live events returned. However, the numbers for some major events were slightly less-than-anticipated as punters, keen for social interaction after lockdowns, flocked to bars to watch events. It appears the socialising was a distraction from inplay betting. Smith talks about this and some of the other trends the company has noted in the sports betting world.
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