Good morning. Despite many hurdles, Thailand’s much-awaited casino bill is likely to enter the home stretch, with expectations for Cabinet approval on March 4th. The country has its foot on the gas, aiming to enact the law by next year and start the bidding and construction process by 2027. Meanwhile, in Australia, Tabcorp saw a strong second half of 2024, boosted by its new wagering license. And in Singapore, Genting saw a slight drop in earnings for FY24, as costs increased and inflation tampered revenue growth.
What you need to know
- Thailand’s casino bill set for Cabinet approval on March 4th, with plans for legalizing gambling and entertainment complexes by 2026.
- Tabcorp reported a strong second half of 2024, attributed to improved operational efficiency and a new wagering licence.
- Genting Singapore reports 5% earnings decline in FY24, driven by cost increases and inflation despite revenue growth.
On the radar
- Aristocrat announces $477M on-market share buy-back program.
- Increased cost pressures offset Reef Casino Trust results in 2024.
- Macau January visitation up by 27%, topping 3.64 million.
- SkyCity to roll out carded play in NZ in July, SkyCity Adelaide in 2026.
- Jumbo sees 10.5% drop in revenue in 2H24, due to ‘subdued jackpot’.
- Lachlan Fitt latest executive to leave Entain Australia amidst AML probe.
AGB Intelligence
THAILAND
Casino bill awaiting Cabinet approval on March 4th
Thailand is accelerating its way into the casino business, with expectations that the new entertainment complex bill will clear the Cabinet by March 4th. The speedy process has not been without controversy, and it remains to be seen exactly what other measures could be introduced into the draft bill. Already critics argue over the proposed fixed deposits required for Thai locals to gamble, highly restricting what was viewed as the major group of punters that operators could tap.
Industry Updates
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- Galaxy Gaming & Pragmatic Play extend 5-year agreement for table games.
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