Good Morning. Shine bright like…..an Emerald. That’s what PH Resorts is looking to do, as the group’s COO says the company is confident it will be able to open the under-construction Emerald Bay project in Clark, as talks continue with possible investors or partners. Angel Sueiro says that some re-organization of the gaming floor may be necessary, in lieu of recent gaming trends. And in China, gambling crackdowns continue, with police arresting 32,000 in order to curb cross-border gambling within the first half-year.
What you need to know
- PH Resorts’ COO says that the company is confident that it will be able to open its Emerald Bay project in Clark, within 18 months if it secures investment.
- China continues to combat cross-border illegal gambling, with some 32,000 suspects arrested in the first six months of the year.
On the radar
- POGO tax payments rise 127 percent yearly in 2022.
- PH DoF calls on PAGCOR to split regulator/operator functions.
- The Philippines officially lifts state of public health emergency.
- Macau lauds 86% implementation rate of tourism development master plan.
- Tabcorp publishes responsible marketing position statement.
- Philippine police seize over 100,000 SIM cards during raid on POGO.
AGB Intelligence
FACE TO FACE
PH Resorts firm in opening Emerald Bay: COO
PH Resorts’ Chief Operating Officer, Angel Sueiro, says that the group is “not even contemplating” the possibility that it might not be able to open its flagship property Emerald Bay. The group is in advanced talks with possible investors or partners which, if successful, could see the property open within 18 months. The changing gaming environment could involve a slight reshuffle of the gaming floor, and VIP operations are likely only to start later on. The group sits down for its annual general meeting this week, to consider refinancing plans.
Industry Updates
- MegaPari: new partnerships with Stakelogic, EA Gaming, and Play’n GO.
- Armadillo Studios reveals Aladdin’s Rollover Respins.
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