Good morning. Results continue to flood in, with updates from Aristocrat, Light & Wonder and IGT all coming in at once. Meanwhile, in Macau, SJM has reported a nearly 30 percent increase in net gaming revenue, with play in Cotai performing well. Also, the Philippine President has assured that there are no further legislative changes needed, assuaging that his Executive Order is enough to reign in the offshore gaming industry. Looking at gambling harm, new research by the University of Queensland has found concerning practices by Facebook regarding gambling advertising.
What you need to know
- Research uncovered troubling practices by Facebook in how it targets Australian users who may be at risk of harm from gambling advertising.
- SJM posts strong 3Q24 with net gaming revenue up 29 percent yearly as punters continue to boost play in Cotai.
- Philippine President Ferdinand Marcos: there is no necessity for new legislation to prohibit POGOs aside from his recent Executive Order.
On the radar
- Aristocrat profit up 17% in FY24, with strong growth in North America/Asia.
- Light & Wonder growth driven by upticks in revenue across all segments in 3Q24.
- IGT sees a slight drop in revenue in 3Q24, operating income down by a third.
- Aristocrat sells Plarium mobile gaming business to MTG for up to $820M.
- Director exodus leaves Andrew Lo as LET Group’s sole board member.
- Gaming Innovation Group signs first contract in Asia with Bloomberry Resorts.
- Seaport: potential for Galaxy Entertainment to boost equity returns and dividends.
AGB Intelligence
GAMBLING ADVERTS
Research finds troubling practices by Facebook
A new study has identified troubling practices by Facebook in regards to how it targets Australians who may be vulnerable to gambling advertisements. In particular, user information of vulnerable individuals was found to have been shared with companies, encouraging their engagement with activities that they may have otherwise been trying to avoid. This comes as Australia further moves to ban gambling adverts amongst its push to reduce gambling harm.
Corporate Spotlight
1xBet: Capitalize on Asian teams’ World Cup qualifier struggles
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
- Endeavor sells OpenBet and IMG Arena to OB Global Holdings for $450M.
- Zitro unveils the Power of 3 Magical Amulets in Triple Charm Journey.
- Pronet Gaming Insights: Revolutionizing iGaming Industry Events.
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