Good morning.
While land-based casinos suffered during the Covid pandemic, the damage was far greater for casino cruises. We start your morning with a fascinating infographic created by our Asia Editor Felix Ng that brings into focus in a clear and simple form what has been occurring in this segment of the Asian gaming industry. Unfortunately, we must also tell you this morning that more than 25 million people in Manila have been ordered back into a strict lockdown after the Philippines reported nearly ten thousand new Covid cases in a single day. The pandemic is also the main theme for New Silkroad’s filing of its 2020 results, with its MegaLuck casino facing an indefinite suspension as Jeju island has been starved of foreign tourists. Finally, we turn our gaze to Australia’s Tabcorp, which says that it is taking time to carry out a strategic review of its businesses to extract more value for shareholders.
First, the news
- Philippines capital locks down ahead of Easter weekend
- Tabcorp halts CEO search, announces strategic review
- New Silkroad faces “arduous” business prospects in Jeju
- Macau needs to legalize online gambling, says professor
- Macau hotel occupancy slipped to 38.5% in February
- RWLV to see fully ramped up EBITDA by 2024: Fitch
- MGM Resorts appoints Jeff Mochal to lead corporate communications
- Universal Entertainment seeks IR business listing on US stock exchange
- Japan ruling party “quietly watches” Akimoto bribery trial
- MGM Japan promotes hospitality program with Kansai Gaidai University
- LVS committee to probe money laundering protocols at MBS
- Summit Ascent appoints Genting’s David Chua as new CEO
- R&F Properties sacks workers at Midan City project
- Illegal casino busted in Delhi hotel
What you need to know
Tabcorp halts CEO search, announces strategic review
Tabcorp says it’s taking time to carry out a strategic review of its businesses to extract more value for shareholders after receiving unsolicited bids for its wagering and media business, which it says were too low. “These options could include a potential sale of the Wagering & Media business to a third party or a potential demerger, which could be implemented via a separation of the Wagering & Media business or the Lotteries & Keno business,” the company said. “As part of this process, Tabcorp is also resuming its strategic review of the Gaming Services business.”
Philippines capital locks down ahead of Easter weekend
More than 25 million people in Manila have been ordered into a strict lockdown after the Philippines reported 9,838 new covid-19 cases on Saturday, the highest single-day increase. In an announcement from presidential spokesperson Harry Roque, the enhanced community quarantine will last from Monday, March 29 to April 4.
New Silkroad faces “arduous” business prospects in Jeju
Hong Kong-listed New Silkroad Culturaltainment, which operates the MegaLuck Casino at Jeju’s KAL Hotel, has described the ongoing impact of the Covid pandemic as being “arduous.” In its business review for the year 2020, the firm noted in regard to its Jeju casino, “operation at the entertainment venue has been suspended temporarily for most of the time in the last year in order to cope with the epidemic prevention measures of the local government. If the epidemic is not brought under control this year, the business prospect in South Korea is arduous.”
Insights
BY THE NUMB3RS
Lifting the veil on Asia’s casino cruises
This week’s ‘By The Numb3rs’ examines the under-reported casino cruise industry in Asia. While land-based casinos suffered during the covid pandemic, the damage was far greater for casino cruises, which were docked for months on a global scale. According to the Cruise Line International Association (CLIA), the global casino cruise industry normally generates more than $150 billion in worldwide economic activity, employing two million people and more than $50 billion in wages and salaries as of 2019.
Corporate Spotlight
All set for the FBM slots expansion campaign
FBM has been developing its slots offer over the last three years, with operations established in Europe and North America. The company is now accelerating its slots expansion campaign in Asia with Ways and Easy$Link – the two lines of spin reel titles composing FBM’s value proposition for this specific game type.
Supplier Special
Play’n Go: Trusting in the legacy
At Play’n GO, giving MORE isn’t just a case of providing more games; we also want to provide the next level of entertainment for our suppliers and their markets. That can mean innovating with new grid shapes or unique features with titles such as Gold Volcano and Reactoonz 2.
Jumbo’s ARK-65 enjoys success in Cambodia
ARK-65, the six-seater electronic fishing game — Fortune Cruise — is Jumbo’s latest and finest innovation and has successfully become a part of Cambodia’s attraction this year. Other than the casino in Phnom Penh, the Fortune Cruise can also be found at Donaco’s Star Vegas in PoiPet City.
AGB Initiatives
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