Good Morning. Global shipping and supply chains are still far from normal following the initial disruptions from the Covid pandemic and logistics companies are bracing for another likely hit from the gridlock in Shanghai’s port. In today’s Face-to-Face interview, Samuel Wilson, CEO of logistics firm TKHS, tells us about some of the challenges he has been facing in providing Asia’s integrated resorts with the gaming equipment and other supplies that they need. He also tells us where he sees the most potential in Asia and offers up some insight into one of the most interesting problems he has had to solve, which involved Sheldan Adelson and his chair cushions.
What you need to know
- Galaxy Entertainment posted a 20 percent drop in 1Q22 revenue from the prior year, but its results beat analysts’ estimates, with Bernstein pointing to strong retail and solid premium mass business.
- Genting Singapore posted higher 1Q22 revenue, though adjusted EBITDA slipped due to higher utilities expenses and the expiry of the government’s Covid support measures.
- Aquis Entertainment has agreed to sell its main operating asset Casino Canberra for $52 million, saying it plans to look for other business opportunities.
On the radar
- Cambodia’s border casinos are still brushing off the Covid-19 dust.
- Nine-year Star director signals his board exit following inquiry.
- AAEC loses bid to gain extension for Macau court ruling appeal.
- IGT installs CMS system, Peak49 cabinets in Philippines NUSTAR Resort.
- Mohegan says work progressing on Inspire Korea project.
- Konami year-end profit up 70%, with revenue gains across all segments.
AGB Intelligence
FACE-TO-FACE
Shipping problems persist, with Shanghai lockdown impact still to come
Global shipping and supply chains are still far from normal following the initial disruptions from the Covid pandemic and logistics companies are bracing for another likely hit from the gridlock in Shanghai’s port. In today’s Face-to-Face interview, Samuel Wilson, CEO of logistics firm TKHS, tells us about some of the challenges he has been facing in providing Asia’s integrated resorts with gaming equipment and other supplies. He also tells us where he sees the most potential in Asia and offers up some insight into one of the most interesting problems he has had to solve, which involved Sheldon Adelson and his chair cushions.
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