Good Morning. All eyes continue on Thailand, with Daniel Cheng giving us a deep look into the implications the political shift in the country could have on its casino aspirations, as youthful politicians reshuffle the agenda. In Macau, legacy gaming operator SJM saw a return to positive EBITDA, despite underperformance from its Cotai Grand Lisboa Palace. Meanwhile, in the SAR, politicians have drafted a new law that includes digital currency, providing a possible avenue for the use of the digital yuan in gaming.
What you need to know
- Thailand’s election reshuffle sees the opposition rise to the front, with Daniel Cheng examining the possible impact on the country’s casino aspirations.
- SJM narrows its loss and sees a return to positive EBITDA, despite being dragged down by sub-par performance at its Grand Lisboa Palace property.
- Macau finishes drafting a new law that includes digital currency, providing a potential avenue for the use of the digital yuan in casinos.
On the radar
- Light & Wonder inks supply deal for Mohegan’s INSPIRE.
- PAGCOR remits $34.74mln to treasury on strong 2022 results.
- Fanatics Betting and Gaming to buy PointsBet US for $150 million.
- Entain’s Chief Governance Officer to retire.
- Macau’s economic climate recovering, but SMEs in trouble.
- APE 1Q23 revenue up 33.6% with loss narrowing to $485,000.
AGB Intelligence
THAILAND
Stunning results from Thailand elections bode well for casinos
The votes are in and Thailand’s military-backed political parties were dealt a definitive blow, as opposition parties careened to victory, with the Move Forward Party surpassing the Shinawatra-backed Pheu Thai Party. In a special deep dive, Daniel Cheng looks at the possible impacts this wave of youthful politicians could have on the nation’s casino aspirations and wider tourism product implications for the country.
Industry Updates
- Sands China enriches non-gaming with ‘Sands Performing Arts Program’.
G2E Asia Singapore 2023
- PopOK Gaming exhibits its latest gaming solutions at G2E Asia 2023.
- Atlas-IAC unpacks “no-risk” sportsbook with flagship stand at G2E Asia.
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