Good Morning. Light & Wonder, formerly Scientific Games, sold sports betting platform OpenBet last year to Endeavour for $1.2 billion. The company now sees itself as well-positioned to take advantage of the growing convergence between sports betting and entertainment to drive further growth. โ€œEndeavor owns UFC and all of the data that comes along with it and weโ€™re a leading sports betting engine,โ€ย Alan Brown, VP of commercial Asia Pacific, told AGB in todayโ€™s Deep Dive article. โ€œI think itโ€™s pretty clear that weโ€™ll be able to develop some exciting products when those two teams get to work together.โ€


What you need to know

  • Genting Singaporeโ€™s gross gambling revenue isnโ€™t likely to return to its pre-Covid levels due to an expected lack of Chinese gamblers and greater regional competition: Maybank.
  • Macauโ€™s GGR surged 108 percent during the past week as visitation improved over the May Golden Week holiday, but ongoing China Covid restrictions mean the outlook remains subdued: Bernstein.
  • Wynn Resorts has revealed plans to revamp its former VIP rooms at its two Macau properties, whilst revealing that its holding three undeveloped land parcels to โ€œexpand our business considerablyโ€ in Macau.

On the radar

  • Wynn Macau Q1 results fall on subdued visitation.
  • Paradise Co. to benefit most from Japan-Korea travel resumption.
  • Everi posts 54% jump in 1Q profit, seeks growth through acquisitions.
  • Studio City gets 6-month extension to complete Phase 2 expansion.
  • HKS Architects appointed to develop Wynnโ€™s UAE project on Al Marjan Island.

What the papers say


AGB Intelligence

DEEP DIVE

Asia Gaming ebrief, betting on convergence, OpenBet, Envdeavor

OpenBet capitalizing on convergence with Endeavor

OpenBet, one of the worldโ€™s largest sports betting platforms, sees its tie-up with Endeavor Group Holdings as a key opportunity to capitalize on the growing convergence between sports betting and entertainment. Endeavor, a global sports and entertainment company and owner of the UFC mixed martial arts company, agreed to buy OpenBet from then Scientific Games last year for $1.2 billion. The acquisition is expected to be completed in the third quarter of this year. The combination puts together OpenBetโ€™s sports betting ecosystem with access to sports rights, content, and data. The companies said the two are uniquely positioned to โ€œdefine the future of sports betting entertainment.โ€

Your Daily Asia Gaming eBrief: Betting on convergence

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