Your Daily Asia Gaming eBrief: Entain prepares for Australia’s regulatory change

melbourne-australia

Good morning. As Australia’s gambling authorities ponder how to shake up the country’s regulatory framework, Carly Richardson, general counsel of U.K.-listed Entain, outlines some of the biggest challenges facing companies in meeting their commitments in this area.


What you need to know

  • Melco Resorts posted a decline in 3Q21 adjusted EBITDA from the prior quarter due to Covid restrictions in Macau, although its results improved from a year earlier. 
  • Matt Maddox, chief executive of Wynn Resorts said in an 3Q21 earnings call that the company feels “very good” about the future of Macau and its position in regards to the concession retender process. 
  • Genting Singapore reported a drop in 3Q21 EBITDA both sequentially and from the prior year as the island tightened restrictions.
  • Philippines’ GGR was up 52% year-on-year in 3Q21, and improved sequentially, with nearly all segments of the industry showing growth.
  • Aristocrat would make a better strategic fit for Playtech over that of Hong Kong-based Gopher Investments, though a bidding war would pressure the company to raise its offer.
  • South Korea’s foreigner-only casinos have been “treading water” in the absence of an inbound market, though the analysts say business should begin to normalize by the end of FY23.

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Your Daily Asia Gaming eBrief: Entain prepares for Australia's regulatory change

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Entain says technology to lead to better regulation

As Australia’s gambling authorities ponder how to shake up the country’s regulatory framework, Carly Richardson, general counsel of U.K.-listed Entain, outlines some of the biggest challenges facing companies in meeting their commitments in this area. Following numerous public inquiries into Australia’s casino giants, including two Royal Commissions in Victoria and Western Australia and an inquiry in Perth, the industry is bracing itself for what may come down the pipeline in terms of new regulation. She says new technologies will help improve compliance and responsible gambling, though more information sharing is needed. 


Industry Updates

  • MGM China becomes title sponsor of Greater Bay Area GT Cup

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Your Daily Asia Gaming eBrief: Entain prepares for Australia's regulatory change

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Your Daily Asia Gaming eBrief: Entain prepares for Australia's regulatory change

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AGBriefings Magazine October

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