Good Morning. Round 2! Japan has not given up on setting up another IR in the nation, announcing its plans for prefectures to submit proposals in 2027. But the brevity of the timeline and apparent lack of interest by the central government in coordinating a masterplan could cause a repeat of the follies seen in the first bidding round, which caused an exodus of investor interest. Looking to Macau, the imminent closure of all satellite casinos is going well, with employees relocated to new roles. And in the Philippines, beleaguered PH Resorts is still assessing its options, after indicating that its previously raised capital was all spent on the stalled Emerald Bay IR.
What you need to know
- Japan could be facing a repeat of the first IR bidding process, as timelines and uncertainty over a masterplan cause concern for hopeful investors.
- Satellite casino phase-out in Macau advances steadily, says government, as thousands of staff move into new roles.
- PH Resorts: All proceeds from prior capital raisings were used for Emerald Bay, strategic options are still being assessed.
On the radar
- Hubert Wang departs as MGM China COO, Kenneth Feng new CEO.
- Visitor arrivals to Macau rise 14.4% to nearly 36.5M in Jan–Nov.
- Macau Legend relocates legal base to Bermuda, targets loss offset.
- Newport World Resorts parent raises $18.7M via warrants issuance.
AGB Intelligence
JAPAN
Concerns over second round of casino licensing
Japan is forging ahead with its second round of casino licensing, with authorities announcing a 2027 date for interested prefectures to submit their proposals. But the short timeline and apparent disinterest in participation or support by the central government are cause for concern for investors, potentially leading to a repeat of the troubles experienced in the first round of bidding. Author and expert Daniel Cheng evaluates what steps are being made, and how they compare to Singapore’s IR setup process.
Industry Updates
- SOFTSWISS reports 45% growth with LatAm momentum in 2025 outlook.
- Arena Racing Company secures UAE Gaming‑Related Vendor License.
- Stretch Network debuts KISS‑Edition Mystery Weekend Series for Winter.
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