Good Morning. As Asia starts to remerge, there will be further M&A opportunities in the region to consolidate the industry post-pandemic and expand the overall reach to new players via innovation, writes Brendan D. Bussmann. On diversification, Genting expanded its esports footprint. Against a tide of losses, two Manila operators posted above the line results.
What you need to know
- Travellers reported $3.6 million net profit for the 2Q22, against a tide of local operators posting losses catalyzed by currency volatility.
- PhilWeb’s new revenue streams energized 2Q22 bottom line returning to black against the previous year’s loss of $0.41 million.
On the radar
- Oddin.gg partners with Genting, Velo, raises $4.5m in SA round.
- China reaffirms crackdown stance on cross-gambling crimes.
- Gaming revenue leap cushions MJC Investments 2Q22 loss at $2.33m
AGB Intelligence
INDUSTRY VOICES: Brendan D. Bussmann
Further mergers and acquisitions expected for Asia: Bussmann
As Asia starts to remerge, there will be further M&A opportunities in the region to further consolidate the industry post-pandemic and expand the overall reach to new players via innovation, writes Brendan D. Bussmann. There was Crown’s ultimatum for overhaul and, on the other end of the spectrum, MGM’s play for Genting’s Resorts World Sentosa. Still ongoing, is the yet-to-be-finalized SPAC, Okada Manila by Jason Ader’s 26 Capital. Given the meek outlook might as well add Macau’s concessionaires to the shuffle.
Industry Updates
- Sands China honors Macau team members’ pandemic support at rally.
- Entain confirms £17m breach fine, notes legacy systems, 2020 compliance.
- IGT PlayDigital’s iSoftBet enters uncharted waters in Ocean Hunter.
