Good morning. The newly announced ban on POGO operations in the Philippines, coming into effect by year-end, is likely to have a larger ripple effect on the economy – ranging from real estate, to retail, to supply chains, as companies shut down and shift elsewhere, notes a top economist. Meanwhile, in Macau, operators are facing pressure as macroeconomic conditions are unfavorable and increased oversight, including police inspections of casino floors, potentially drive away punters.
What you need to know
- POGO ban could negatively impact sales, earnings, and stock prices of businesses reliant on the industry, notes a top economist.
- Macau’s gaming performance faces pressure from macroeconomic and regulatory challenges, says Jefferies.
On the radar
- Malaysia/Singapore gaming poised for robust recovery in 2H24: HLIB.
- Crown Perth CEO David Tsai appointed as President and Group COO.
- Shin Hwa World to raise $33.1M via rights issue.
- Cambodian PM halts new casinos in southern coast provinces.
AGB Intelligence
PHILIPPINES
POGO ban to have ripple effect on associated businesses: Economist
The move to ban Philippine Offshore Gaming Operators will have a strong ripple effect through the various businesses that supply it, from real estate, to retail and other supply chains, notes a top economist. This is expected to not only impact earnings, but stock prices, even though some companies may have already hedged their bets against the ban.
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How 1xBet dominates the Asian market: conditions and approach
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Industry Updates
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