Good Morning. Macau is continuing to digest the finer points of the new gaming law published on Tuesday. Although some of the measures came as a “surprise” to analysts, they were not seen as a game-changer when it comes to the fundamental outlook. All signs are the government is full-steam ahead.
What you need to know
Macau’s draft gaming bill contained some surprises but overall weren’t considered as thesis-changing by analysts at J.P. Morgan, who retain their bullish stance on the stocks.
Save the date of the 24th of January – when the Macau gaming law gets its first hearing in the race against time to amend legislation ahead of the public tender for the concessions.
Genting H.K. filed for bankruptcy protection in a Bermuda court after efforts to find a solution with creditors failed and said it expects to run out of cash on hand by the end of this month.
On the radar
- AGTech Holdings wins China Sports Lottery contracts in seven provinces.
- BetMGM expects revenue of $1.3b for Y22 after Y21 beats management forecasts.
What the papers say
- Rota casino commissioners to only get paid when casino is actually operating.
- AML checks of S.Korea casinos restart after pandemic pause.
AGB Intelligence
DEEP DIVE
Gaming law contained surprises, but not thesis-changing
Macau’s draft gaming bill contained some surprises but overall weren’t considered as thesis-changing by analysts at J.P. Morgan, who retain their bullish stance on the stocks. The main uncertainty to come out of the detailed draft that was released on Tuesday was the requirement for a minimum level of GGR per machine and table. The government will formalize a cap for each operator in terms of numbers of tables and machines.
Industry Updates
- Melco and SJM Resorts announce Michelin Stars for Macau/H.K. restaurants.
- Playtech and FashionTV launch first-ever FashionTV-branded jackpot baccarat.
- BBIN launches The Gaming Beat annual theme for 2022.
- Gary Platt Wins Lifetime Achievement Award in Las Vegas.
MEMBERSHIP | MAGAZINE | ASEAN | CAREERS
