Good morning.
The week starts with a boom as the Australian Transaction Reports and Analysis Centre (AUSTRAC) delivers a formal notice to Crown Resorts that it has potentially identified AML non-compliance. This ahead of what is expected to be a contentious virtual Annual General Meeting at which investors may make their displeasure clear. In a different tempo, we profile Indian online fantasy start-up Dream 11 which has quietly grown into one of the country’s biggest online gaming companies, now worth $2.5B.
First, the news
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AUSTRAC delivers notice to Crown Resorts on possible AML breaches
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Park to be built next to Crown Sydney won’t be ready until 2025
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Macau government not pursuing travel bubbles when VIP accounted for 48 percent of GGR
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Markets moving with Universal boosting notes, Emperor issuing profit warning, and Paradise’s bond offer
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Jeju wants financial aid for struggling casinos while Kangwon Land’s commitment to PG is questioned
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Yokohama mayor says she would respect IR referendum result
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SkyCity doesn’t expect normality until 2022
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Shambala opens with cash draw, entertainment show
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Phu Quoc island kicks of tourism promotion campaign
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Widus Group delays property expansion under Covid-19 impact
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Manila property sector expects continuing POGO exodus
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Airfares soar on Hong Kong/Singapore bubble news while Goa aims to become one of the safest tourism destinations
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Adelson top donor to Trump’s reelection efforts
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MGM ranks 107 in world’s best employers list
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Online gambling suspect slips Malaysia police custody
What you need to know
Lagging Singapore to hold back Genting recovery
Fitch Ratings has joined rival agency Standard & Poor’s in expressing concern over the speed of recovery for Genting Bhd, citing a lag in Singapore, which is reliant on international tourism arrivals. The agency, which downgraded the long-term issuer default rating of Genting to BBB from BBB+, said it now doesn’t expect the group’s consolidated revenue and EBITDA to return to pre-pandemic levels until at least the end of 2022. It had previously expected a recovery next year. Its sister resort in Malaysia is expected to fare better with help from the local market.
Insights
MOVERS & SHAKERS
Dream 11: Taking fantasy sport to the big leagues
Indian online fantasy start-up Dream 11 has quietly grown into one of the country’s biggest online gaming companies. The company was founded by University of Pennsylvania graduate Harsh Jain along with his friend Bhavit Sheth in 2008, initially offering Freemium Fantasy Cricket. Today, the company commands 90% of the Indian fantasy sports market with more than 90 million users – the highest number of registered users of any sports gaming platform in India.
FIRST WORD
Crown Resorts heads toward contentious AGM
As the new week dawns, our attention remains focused on Crown Resorts, which holds its Annual General Meeting after yet another week of devastating testimony at the New South Wales Independent Liquor and Gaming Authority (ILGA) probity inquiry, as well as the AUSTRAC investigation on possible AML breaches that was revealed this morning.
Supplier Special
Transact to display at virtual G2ETransAct virtually showcasing their premium gaming products, which include the Epic Edge casino printer and the Epicentral 4.0 promotional solution at G2E Las Vegas.The company will also demonstrate Epicentral Clean2Play, its newest gaming product designed to keep players safe by printing proof when slot machines have been sanitized.
Synectics enhances cybersecurity
Synectics recently launched a range of new security features in its advanced Synergy software to deliver unparalleled protection for customers. Sitting at the heart of casino control rooms around the globe, the Synergy command and control platform powers security solutions for the most demanding gaming environments.
AGB Initiatives




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