Good morning. Flags fly at half mast today, after the passing of one of Macau’s most prominent casino moguls, Lui Che Woo, at the age of 95. His legacy, however, will continue, as evidenced by the massive footprint that the company has in Macau and its continual push for more. Meanwhile, in the Philippines, the POGO ban causes further backlash, with an expansion of illegal betting networks elsewhere ongoing and expected. And in results, Maybank analysts curtail their Bloomberry estimates on low GGR turnout.
What you need to know
- Galaxy Entertainment Chairman Lui Che Woo has passed away at the age of 95, leaving behind a legacy of success.
- The Philippines’ POGO ban accelerates illegal betting networks’ global reach, from Asia to Europe and Africa, warns research.
- Maybank lowers Bloomberry’s revenue expectations for FY24/25 by 12%, citing weak GGR and fewer Chinese VIP players.
On the radar
- South Korea’s GKL sees net income drop by nearly half in 3Q24.
- Shin Hwa World to issue $25.7M bonds for business development.
- South Korean operator Paradise Co sees drop in earnings in 3Q24.
- Nearly 10K arrested in South Korean police crackdown on youth gambling.
AGB Intelligence
GALAXY ENTERTAINMENT GROUP
Chairman Lui Che Woo has passed at 95
Galaxy Entertainment Group’s leading light, Chairman Lui Che Woo has passed. The businessman leaves behind a heady legacy after his 95 years of progress, which included the listing of one of Macau’s most prominent casino businesses and one of the highest-performing companies worldwide. Shareholders and friends mourn his passing but reflect positively on the legacy he left behind.
Corporate Spotlight
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Asia is the most populated continent on the planet and Football is the No. 1 sport in most countries. The World Cup qualifying matches are traditionally watched by billions of fans in the region, but FIFA has decided to reward Asia with a significant representation at the tournament only now.
Altenar brings premium sportsbook solution to Asia
Altenar, a leading sportsbook provider is bringing its global expertise to Asia, looking to expand its operations. Since 2011, Altenar has powered hundreds of online sports betting sites worldwide and is a major B2B provider in Europe and Latin America licensed markets.
Industry Updates
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- Sands China heads Macau delegation on Lisbon business trip.
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