Good morning.
Billionaire James Packer has declared that he has no intention of standing in the way should the board of Crown Resorts opt to accept the US$6.2 billion takeover bid from Blackstone. This may help the firm clear one important hurdle as it attempts to renew itself in the wake of the devastating Bergin Inquiry in New South Wales. A hurdle has also been cleared in Jeju, where a standing committee of the provincial council is greenlighting approval of the Jeju Dream Tower casino. Meanwhile, out in the Isle of Man, many Asian online operators have come knocking on the door, looking for a secure base of business operations. Finally, our Nippon Weekly article considers the latest developments in Nagasaki’s IR policies, finding them to be a cut above anything else seen so far in Japanese regulation of the industry.
First, the news
- Packer to follow Crown board on bid
- Jeju council moving forward with Dream Tower casino approval
- Isle of Man licenses surge over last 12 months
- Dream11 valued at nearly $5b after latest funding round
- Yokohama passes annual IR development budget
- Goa Football Association detects fixed matches
- Genting Spore says outlook challenging, projects continue
- Genting HK sells yacht unit to CEO for HK$62.5m
- Standing table betting returns to Macau
- IPI ruled in contempt of court in another case
What you need to know
Packer to follow Crown board on bid
Billionaire James Packer plans to abide by the decision of Crown Resorts’ board on whether to accept an A$8 billion ($6.2 billion) bid from Blackstone Group, reinforcing the company’s negotiating stance. Packer, who holds nearly 37 percent of the Australian operator, told the Australian Financial Review in an email that “I am following the Crown board re my decision.” The stance taken by Packer is significant as he could have chosen to negotiate separately with the U.S. private equity fund, which would have put pressure on the board to accept the bid.
Isle of Man licenses surge over last 12 months
The increase of license requests at the Isle of Man comes at little surprise for those in the industry, with operators from Asia seen flocking to the island in droves over the last year. On Wednesday, the Isle of Man said that the number of licenses now sits at 55, up from only 8 licenses in 2019, and with more to come. Isle of Man said that the recent regulatory changes in alternate jurisdictions, combined with the Island’s handling of Covid-19 and the introduction of a new software supplier license have contributed to a significant surge in the number of applications.
Jeju council moving forward with Dream Tower casino approval
The Standing Committee of the Jeju Provincial Council has unexpectedly approved Lotte Tour Development’s request for approval of the Jeju Dream Tower casino in spite of the ongoing police investigation of allegations that public opinion surveys may have been manipulated. The approval recommendation faces a plenary session of the council today and a final decision to be made by Governor Won Hee-ryong.
Insights
DEEP DIVE
Nagasaki plugs IR policy hole
The Nagasaki Prefectural Government continues to impress as being the only local government in Japan’s IR race that gives an impression that they have a clear and well-managed vision for the process. Although a small market location in a remote part of Japan, Nagasaki enticed five different consortiums into its RFP process. This number might be matched by Yokohama, with its access to the giant market of the capital region, but it stands far ahead of Wakayama’s two applicants and Osaka’s one.
Industry Updates
- Kangwon Land launches committee to promote gender equality
Corporate Spotlight
All set for the FBM slots expansion campaign
FBM has been developing its slots offer over the last three years, with operations established in Europe and North America. The company is now accelerating its slots expansion campaign in Asia with Ways and Easy$Link – the two lines of spin reel titles composing FBM’s value proposition for this specific game type.
Supplier Special
Pinnacle seeks to score with Euro 2021
While the sports betting calendar may have been cut short last year, it’s returned bigger this time around with Euro 2021 imminent and looking well set to be the backbone of a major sports betting summer.
BBIN urges care for the world via latest TGB Charity video
TGB Charity has released the latest brand video of 2021 to tell stories of four different characters, interpreting the dilemma that the world is facing and using low-saturated tones to bring out the urgency of the issue. Will the girl in the dry land jump off the springboard eventually?
AGB Initiatives
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