Good morning. Julian Hoskins, Principal at Senet, and former general counsel at Tabcorp, has listed five practical and operational changes to the Australian gaming industry as a result of the recent royal commissions into Crown Resorts. Our Face-to-Face interview sheds light on what those will be.
What you need to know
- Galaxy 2Q21 revenue increased 9 percent from 1Q, with four straight quarters of rising gross gambling revenue, despite rolling Covid outbreaks.
- Genting Singapore returned to profit in 1H21 compared with the prior year but said that international travel needs to resume to spur further growth.
- Entain‘s 1H revenue rose 11% driven by growth in its online business, which has benefited from lockdowns and the return of sporting events.
- Dream Cruises president Michael Goh says the pandemic has brought more millennials into the cruising fold than ever before.
- Mohegan’s Inspire Integrated Resort in Korea is looking to open in 2Q or 3Q of 2023, according to international president Bobby Soper
- Suncity has reiterated its commitment to repay its Philippines deposits, and says a local newspaper report contains misleading information.
On the radar
- GKL posted a narrower loss for 2Q21 as sales surged.
- MGM is auctioning off 11 Picassos for $100 million to diversify its portfolio
- Canberra Casino has closed due to lockdown, Reef Hotel Casino reopens
- Phnom Penh is extending its casino suspension for a further 14 days
- Transact‘s share offer is expected to raise $10.6m for further expansion
- Travellers International has posts 12% drop in 2Q revenue from prior quarter
What the papers say
- Guest at Venetian Resort Las Vegas turned a $5 bet into $1.5 million
- SkyCity chair says business doesn’t exist only to spit money to shareholders
- NZ will allow vaccinated travellers from low-risk countries next year
- Saipan e-gaming ops have filed an ethics complaint against Rep. Yumul
FACE-TO-FACE: Julian Hoskins
Macau lawmakers appear to have recognized that China’s new policies penalizing gambling and attempting to stop its Julian Hoskins, Principal at Senet, and former general counsel at Tabcorp, says he expects five main operational changes to the Australian gaming industry as a result of the recent royal commissions into Crown Resorts. These changes will include regulator and policy approaches to card vs cash gaming, a continued review and halt of junkets, review of corporate culture, more regimented staff capability building, and changes in how loyalty rewards can be offered.