Good Morning. PAGCOR cancels 175 POGOs permits, repatriates 3,000 Chinese nationals. Macau gaming stocks rallied in the US markets on the anticipated boom from the return of tours, eVisas. The Star releases a Remediation plan, and Aristocrat strengthens its online gaming footprint.
What you need to know
- Macau stocks rallied in the US on the anticipated business boom following the announcement of the return of tours and re-issuing of eVisas.
- The Star released a “Remediation Plan Structure” in response to the NSW Independent Casino Commission’s show cause notice.
- Aristocrat is acquiring real money gaming supplier Roxor Gaming, accelerating the company’s strategy to grow and scale in online gaming.
On the radar
- Star Entertainment’s acting CEO Geoff Hogg resigns.
- LET Group – AKA Suncity – secures Listco deal guarantor.
Philippines National Bureau of Investigation is abrest with unceasing reports of POGOs that no longer have permits to operate or their permits have been revoked, leading to increased strain on the ongoing crackdown and repatriation efforts of some 3,000 Chinese nationals. As of September 14, the Philippine Amusement and Gaming Corporation has canceled the permits of 175 POGOs, which employ 40,000 Chinese nationals. The DOJ said that an initial batch of 300 overstaying Chinese nationals caught in Pampanga may be repatriated back to China by the first week of October. By mid-October, an estimated 3,000 to 4,000 more would be repatriated.
- Bragg consolidates group companies under a single brand.