Good Morning. It remains to be seen exactly what Macau’s new leadership’s stance is towards the gaming industry, but the gaming hub’s Chief Executive did himself few favors in assuaging concerns about how in tune he is with the sector when facing questions from the legislature yesterday. Some issues were debated, but many questions remain. Meanwhile, Australia’s The Star has finally published its results, demonstrating why the Bally’s Corp bailout was a necessity. And Timor-Leste breaks new ground by entering the offshore gaming diaspora after launching its first license for the sector.
What you need to know
- Macau CE provides some ‘answers’ to legislators’ questions about the economy, diversification, land, labor and satellite casinos.
- Struggling Star Entertainment reports $192M loss in delayed results, secures bailout amid regulatory reforms and falling market share.
- Timor-Leste launches its first offshore gaming license, as the country positions itself as a competitive and compliant new contender.
On the radar
- Wynn Resorts co-founder Elaine Wynn passes away at 82.
- LT Game opens Macau manufacturing line with 20K-unit annual capacity.
- Macau gaming growth forecast trimmed to 1.8% by CLSA.
- Deutsche Bank: cautious outlook for Las Vegas Sands’ Macau results.
- Australia’s comms authority: ISPs to block more illegal gambling websites.
AGB Intelligence
MACAU
Few gaming questions, few answers in post-Policy Address
Macau’s Legislative Assembly failed to seize the moment and corner the (relatively) new Chief Executive on his expectations for the gaming industry this year. During a Q&A session on Tuesday, following his first Policy Address which lamented economic headwinds, the official did little to dispel concerns about upcoming and ongoing issues, instead giving broadstroke answers on diversification, land use, labor and satellite casinos.
Industry Updates
- Aristocrat Gaming set to Wow at G2E Asia with cutting-edge innovations.
- 1xBet and Billie Jean King Cup join forces for premier tennis partnership.
- Indian iGaming Report: Insights for Sports Betting, Casino and Payments.
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