Good Morning. Life hasn’t been that pacific for Imperial Pacific International, which faces increasing legal action on multiple fronts, and could see its parent company face a possible delisting from the Hong Kong Stock Exchange. IGamiX Managing Partner Ben Lee described to AGB the missed clues that led to such a scenario and the possible outcomes going forward. Meanwhile, NagaCorp didn’t lose time to assure that the company will remain under the hands of the Chen family, with almost 70 percent of the company remaining in the former founder’s family trust. Moving to Greater China, JP Morgan believes the Macau SAR will end the last month of the year with $2.1 billion in GGR.
What you need to know
- Imperial Pacific International faces increasing legal action on multiple fronts, and its parent confronts a possible delisting from the Hong Kong Stock Exchange.
- The Sakai Trust, a family trust established by the recently deceased founder of NagaCorp, Chen Lip Keong, will continue to hold about 69.26 percent of the Cambodian gaming group.
- JP Morgan estimates that Macau’s GGR could reach $2.1 billion in December, resulting in an 8 percent quarter-on-quarter GGR growth in 4Q23.
On the radar
- Queensland November gaming tally up 7 percent yearly.
- Macau problem gambling surges to 110 cases in 1Q-3Q, back to 2019 levels.
- US, UK, Canada sanctions target Southeast Asian scam operations.
- Isle of Man continues to boom, attracting companies from Asia.
AGB Intelligence
UNDER THE SCOPE
Imperial Pacific International facing delisting risks
Imperial Pacific International’s parent company could face a possible delisting from the Hong Kong Stock Exchange, as the Saipan operator continues to face challenges on multiple fronts. According to IGamiX Managing Partner Ben Lee the possible revocation of its casino license by the Commonwealth Casino Commission due to unpaid casino license fees just adds to the multiple challenges faced by the company.
Corporate Spotlight
1xBet – The Leading Bookmaker With Worldwide Reputation
Since 2007, 1xBet has grown from a small startup to a giant in the sports betting industry. Today, the company successfully operates worldwide, and the bookmaker’s website and app are visited by millions of players monthly.
Industry Updates
- Sportradar launches “Future of Tennis Betting” with ATP.
- Sands China Presents Performing Arts Program Outreach Series.
MEMBERSHIP | MAGAZINE | ASEAN | CAREERS
