Good Morning. Changes to Macau’s gaming legislation mean that satellite casinos and junkets will no longer be able to offer lines of credit, as the government moves to further tighten oversight of the industry. In the Philippines, PAGCOR sees $303 million in 1Q23 gaming income, a 49 percent yearly increase. And Premium Leisure Corp sees a 109 percent increase in net profit for FY22. Meanwhile, Platipus Gaming is investing heavily in its Asian expansion.
What you need to know
- Satellite casinos and junket operators no longer able to offer lines of credit to punters, as Macau further tightens legislation.
- PAGCOR records 49 percent yearly increase in income from gaming operations in 1Q23, topping $303 million.
- Premium Leisure Corp sees net profit increase 109 percent in FY22, with upticks in its share of revenue from City of Dreams Manila.
- Platipus Gaming‘s Vladyslav Garanko says that the group is investing heavily in expanding its presence in Asia.
On the radar
- Sportradar opens new Mumbai office, appoints GM.
- Former The 13 chairman being held without bail in US.
- Far East Consortium opens two new hotels in Melbourne.
- Macau visitor arrivals reach almost 2 million in March.
- Complete recovery of airport traffic in China only by end-2024: Fitch.
Satellite casinos and junkets can’t offer credit
Macau is further tightening its gaming legislation, now mandating that satellite casinos and junket operators are prohibited from offering lines of credit to punters. Under the new changes, only concessionaires themselves, or junkets who have signed credit provision agreements with concessionaires will be able to provide any form of credit to clientele.
- 7777 gaming appoints Mitko Mitev as its new CEO.
- Habanero captures mythical legend in new release Naughty Wukong.
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