Good Morning. Findings of Western Australia’s Royal Commission inquiry into Crown Resorts has finally come out, finding the operator “unsuitable” to hold its license in the state, just as it had been for NSW and Victoria. The casino operator, fortunately, has been allowed to continue to operate and has been given two years to “clean up its act”.
Meanwhile, today AGB has made available a webinar discussing the state of play with three of the first movers in the Philippines’ PIGO industry. We were told that while there is significant potential, there are also challenges, not least the high costs in the form of taxation and fees.
What you need to know
- Western Australia’s Royal Commission inquiry found Crown Resorts to be “unsuitable” to hold its license in the state, but it will be allowed to continue operating.
- Macau has reduced the quarantine period for inbound residents to 14 days from March 28th, in the first signs of any easing in its rigid border controls.
- A probe into Star Entertainment’s operations heard that a Chinese-born real estate developer spent millions at the casino and on one occasion put $11 million on his China UnionPay card in one day.
- Seven satellite casinos are expected to stop operations by mid-year due to lack of cash flow, and limited visitation due impact of covid-19 outbreaks and visa challenges.
On the radar
- Paradise 2021 revenue jumps 40.5% as casino sales improve, EGMs surge.
- Singapore further sheds restrictions, including quarantine for travelers.
What the papers say
- Wynn CEO eyes more Macau hotel rooms, sports facilities, and medical tourism facilities.
- Osaka Prefectural Assembly gives green light to integrated resort plan.
AGB Intelligence
POP-UP WEBINAR
PIGO industry warns high costs hinder ability to compete with illegal market
The nascent Philippines Internal Gambling Operator (PIGO) market has enormous potential, but the high costs of doing business are hampering its ability to compete with illegal gambling operators, say three of the first movers in the field. In Asia Gaming Brief’s Pop-Up Webinar, which was aired live on Monday, DFNN CEO Calvin Lim, PhilWeb President Brian Ng and Jade Entertainment CEO Joe Pisano tell us about the current state-of-play in the market and some of the challenges they have been facing. In place of our regular Face-to-Face interview this week, we make the key elements of the discussion available.
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Industry Updates
- MGM explores green development opportunities with young entrepreneurs.
- Sands China helps local youths explore IR career paths.
- Galaxy Hotel awarded EarthCheck Benchmarked Silver Certification.
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