Good Morning. Sometimes it’s better to step away to come back stronger. Entain has taken that approach in its outlook on Asian gaming jurisdictions, pulling back and seeking to influence strong and healthy legislation and implementation, but prepared to pounce when the conditions are right to move back in. The Philippines is proving a strong frontrunner, especially with an open ear by regulators, but other regions are still on the radar, says an executive. Meanwhile, in South Korea, INSPIRE is expected to deliver positive EBITDA within this year, say analysts at CBRE, with more on the horizon as it ramps up.
What you need to know
- Entain in talks with Asian authorities to improve their regulatory frameworks, in hopes to return as frontrunners for new licenses.
- CBRE forecasts that Mohegan INSPIRE could already report positive EBITDA in 2024, as it aims to capture more market share.
On the radar
- The Star’s Queensland licenses suspension extended to December 20th.
- Ainsworth announces departure of Chief Technology Officer, David Bollesen.
- Macau Jockey Club land officially reverts to government.
- A NagaCorp CEO, son of founder, to leave all executive positions.
- Sands Macau commemorates 20th anniversary.
AGB Intelligence
FACE TO FACE
Entain’s long-term view could place it at forefront for regulated Asian licenses
If Asian gaming jurisdictions up their game and prove to be highly regulated markets, Entain would be happy to move back into those markets it had stepped away from. Michael Charlton, Asia Pacific Director for Entain, notes that the Philippines is serving as a good example of an improved regulatory framework that’s not stifling innovation.
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