Good Morning. Last Thursday, Asia Gaming Brief gathered more than 200 attendees to our “Is this the end of junkets” webinar on Zoom. Featuring several Macau gaming and industry experts, the 90 minute conference looked closely at the fallout from Alvin Chau’s arrest, and what this means for the future for Asia’s junket / VIP sector. Today, we release the full program for those that missed it, along with a summary of the key takeaways from the webinar.
What you need to know
- Macau operator stocks took another tumble, with Wynn Macau and MGM China both down almost 9 percent, on concern over regulatory risk and the emergence of the Omicron variant in China.
- MGM Resorts’ $1.07 billion sale of The Mirage Hotel & Casino was at a record multiple and reflected the bullish outlook for Las Vegas in a “winner, winner, chicken dinner” for all: CBRE
- The industry body for clubs in NSW is proposing a raft of measures aimed at identifying and preventing money laundering in the state’s slot machines.
The year ahead
Roland Landers, CEO, AIFT
India will continue to be an attractive online gaming market for investors and All India Gaming Federation, Roland Landers, expects to see more M&A in the sector as the regulatory landscape evolves.
On the radar
- Genting gets permission to restart cruises in Taiwan
- Vietnam to open intl air travel with nine countries from Jan 1
- Reef Casino Trust sees $14.4m 2021 profit as second half improves
What the papers say
- Australia Intelligence began “squeeze” on Alvin Chau three years ago
- IPI posts $2.45M bond to stay receivership
AGB POP-UP FORUM
Macau’s junket model is likely dead and the city faces a painful period of economic transition, although the vast amount of capital that flowed out of China for gambling is still likely to find an exit and online is expected to be the beneficiary. These were some of the key takeaways from Asia Gaming Brief’s webinar, held on Dec. 9th, to explore whether there is a future for junkets following the arrest of Suncity CEO Alvin Chau at the end of November. Chau was detained in Macau, just one day after a warrant for his arrest was issued on Mainland China, on charges of organizing illegal gambling and money laundering.
- Betconstruct reaches new partnership with LSports
Habanero’s impressive commercial performance over the past year has enabled us to reinforce our position as market leaders as we continue to grow globally, agreeing exciting operator deals with the likes of 888, Codere, Betway and LeoVegas. The key to Habanero’s success throughout 2021 has been keeping things simple.
Due to the pandemic, business analysts agree that digital adoption and transformation has accelerated – up to seven years according to McKinsey & Company. Providing reliable managed hosting, security and network solutions to the eGaming industry, Continent 8 is well versed in moving with speed and agility to meet the urgent and ever-changing technical and regulatory needs of our clients.