Good Morning. Ho, Ho, Hopes are high that the holiday season went well for Asian gaming operators. But times were tough for (non-gambling) gaming companies in China, after authorities announced changes to limit player spending and incentives – causing billions to be wiped off the market value of top companies. Meanwhile, Macau continued its winning streak, with Xmas visitation up, even as the city ranked fifth in the world’s richest regions. The Star also saw positive changes, with a settlement with its Queen’s Wharf Brisbane project contractor. AGT is expecting strong results this year, while Mohegan fortified its executive team. And the IGSA has announced its long-time president will be stepping down.
What you need to know
- China changes gaming rules, might change them again after backlash which resulted in billions being wiped off market value.
On the radar
- AGT anticipates strong financial performance for 2023.
- The Star: settlement with contractor for Queen’s Wharf Brisbane project.
- Mohegan announces changes to its corporate executive team.
- President of International Gaming Standards Association stepping down.
- Macau ranks fifth in world’s richest list for 2023.
- Visitors flood into Macau over Xmas holiday, averaging 120k per day.
AGB Intelligence
ONLINE GAMING
China’s new video game rules spark backlash
Chinese regulators are facing massive backlash over measures announced right before the holidays, aimed at limiting player spending and incentives. The move wiped out nearly $80 billion in market value for top companies, prompting an industry push for more lenient measures. While not focused on gambling-related activities, the move is a further tightening of regulations governing one of the world’s largest gaming markets.
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