Good morning. Land-based suppliers have been a bit slow getting into the digital space but analysts think they will have advantages over pure online players as they expand their offerings into the space, given their strong brand recognition amongst gamblers. Our deep-dive today looks at the opportunity for land-based suppliers in the online gaming space. Should it ever be properly liberalized in Asia, it would be a big deal.
What you need to know
- Macau is not planning to open up to foreigners any time soon, while neighboring Hong Kong further tightens its quarantine requirements.
- New Zealand’s casinos have closed as the country undergoes a snap 3-day lockdown, with a 7-day lockdown for Auckland and Coromandel.
- MGM Resorts is requiring vaccination as a condition of employment in the United States, with all new hires needing to get vaccinated by August 30th.
- Genting Malaysia’s resorts are not expected to reopen until November this year, shortly after the country is expected to attain herd immunity, says analyst from Maybank.
- Singapore is expected to reach 80% full-vaccination by next month, which will be a boost for the city’s casino operators, analysts say.
On the radar
- Gaming slowdowns caused a 54% drop in 2Q21 profit for LRWC
- Ponte 16’s operator is expecting to record a reduction in 1H21 loss
- Genting M has formed a consortium to bid for a sports betting license in NY.
- PH Resorts saw a widened loss in 1H21 due to Emerald Bay construction
What the papers say
- Nevada’s governor says that event guests who can prove their vaccination status won’t require masks
- MP Holdings shuts down Club 88 on license fee hike, unemploying 30 workers
- HKJC resumes betting services via telephone and off-course betting centers
- Chinese nationals allegedly behind 500 illegal online gambling sites in India
AGB Intelligence
DEEP DIVE
Suppliers pivot online, exploit built-in advantages
Land-based suppliers have been relatively slow to the digital party, but will likely have some advantages over pure online players as they expand their offering into the space, analysts say. During the recent 2Q21 results season, the main focus was on how the nascent digital businesses of companies such as Scientific Games, Aristocrat, and International Game Technology are performing and what will be the next step.
INDUSTRY UPDATES
- IHG Hotels continues Vietnam expansion with Halong Bay opening
- Pragmatic Play dives into summer with Beachball Blast Bingo
- Ezugi unveils its new brand identity
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