Good Morning. Genting Malaysia has been in the news this week having finally opened its long-delayed Skyworld’s theme park. In this week’s Face-to-Face interview, Maybank Associate Director Samuel Yin Shao Yang gives us his take on the impact of the park on the group’s earnings and why the company is his top pick over sister company Genting Singapore.
What you need to know
- A federal investigation is being called for by a U.S.-based trade union, looking into the historical relationship between junket operator SunCity Group and U.S. gaming companies.
- MGM China surprised analysts with the outperformance of its mass market gaming over the Chinese New Year, which returned to 85 percent of pre-pandemic levels in terms of table drop.
- Kangwon Land, which operates the only casino in South Korea where locals can gamble, reported an 84.4% gain in 4Q21 revenue, with gaming sales steadily increasing throughout the year.
On the radar
- Sega Sammy revises up full-year forecast, but resorts will lag.
- Nepal closes at least two casinos for failure to pay royalty fees.
- PAGCOR adds 206 player exclusions in 2021.
What the papers say
- Macau airport expansion to take up to 10M passengers operational in Q1.
- Police arrest 28 in cross border gambling bust in Inner Mongolia.
- 45-year old croupier caught stealing US$20.6k in casino chips in Cotai.
FACE TO FACE
Genting Malaysia finally opened the gates to its long-delayed theme park this week, which is expected to pull in the crowds to the Genting Highlands resort. In this week’s Face-to-Face interview, Samuel Yin Shao Yang, an associate director of Maybank Investment Bank, puts some numbers to how the park will benefit the Malaysian operator, which is the preferred gaming stock in his coverage universe. Genting Singapore is solid, but needs the international tourist traffic to return to drive growth, he says.
Dallmeier, a leading manufacturer for video information technology, is the “Exclusive Platinum Sponsor” of the World Game Protection Conference 2022 at the Tropicana Las Vegas from 15 to 17 February 2022. Dallmeier’s open software platform HEMISPHERE SeMSy is the focus of the company’s presence at the exhibition event.
With Macau seeing some clarity with its regulatory landscape, its likely business models need a rethink to stay competitive. Specifically, casinos will need to find ways to capture new demographics in the mass market. In some ways, this bodes well for IDX Games, as our modular intelligent table product, X-Tables, is built for capturing mass segments.
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- Play’n Go presents another chapter in the Cat Wilde series.
- Zitro unveils global launch of premium megashare lounge.