Good Morning. Asia is a unique market, and Pronet Gaming is being calculating, as the company humbly moves into Asia – while still crafting strong moves to capitalize on its strengths within the sphere. CEO Alex Leese points out how gray markets are beneficial, but larger operators need flexible systems on the ground to deliver. And in Macau, Galaxy aims to redevelop the city’s iconic shipyards. Moving to Cambodia, Naga faces woes over the junket sector crackdown, with Citigroup lowering the group’s EBITDA estimates.
What you need to know
- Pronet Gaming’s CEO Alex Leese says that gray markets are a massive untapped potential the company targets as it moves into Asia.
- Galaxy Entertainment is set to revitalize Macau’s historic shipyards, with plans including a synthetic ice rink, urban farm, and cultural spots.
- The VIP junket sector’s collapse spells prolonged uncertainty for Cambodia’s NagaCorp, with a bleak outlook for EBITDA recovery: Citigroup.
On the radar
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- Okura turns to profit in 1H23, as expense cutting measures continue.
FACE TO FACE
The Asian gaming sphere continues to offer benefits, particularly for those operators willing to explore opportunities in the gray markets. And that’s where Pronet Gaming shines, notes CEO Alex Leese, pointing out how the company can help bigger firms navigate the complexities of Asian gaming legislation, while maximizing return – be it from sportsbooks or iGaming. While still in its Asian debut, Pronet has high aspirations, hitting the ground running but with strict quality control.
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