Analysts at Morgan Stanley are upbeat about the future of Macau post covid, saying the gambling hub will come back stronger than before due to lower expenses and a better operating mix. Though that future is a little hard to imagine at this moment, as Macau has just announced a further tightening of restrictions of travellers coming from China by air.
In our Face-to-Face interview with Darang Candra of Niko Partners, we hear about how the esports industry in Asia has tracked in 2020. Candra talks about some of the most stark trends revealed in their 2021 Asia Esports Report, and reveals some murmurings about sports betting in Japan and Korea.
First, the news
- Japan, Korea considering esports betting: Niko Partners
- Macau further tightens restrictions on China entry
- Macau seen coming back stronger from Covid: MS
- GLPalace bookings open, DICJ confirms 150 tables
- PAGCOR H1 gaming income down 20%, posts profit
- Donaco 2Q21 revenue hit hard by covid-19 lockdowns
- Cambodia imposes nationwide curfew
- Genting “cruise to nowhere” departs in Hong Kong
- Star says Sydney closure extended, Queensland eases
- Singapore gambling participation rate falls compared to 2017
- Macau hotel occupancy down 16.8% m-o-m in June
- PointsBet raising AU$400 million for U.S. expansion
- LV Strip GGR dips 1% from 2019, but up 8.3% in Q2
- New ASIC chair says the regulator “has teeth now”
- WDTS gets $35m investment from Beach Point
What you need to know
The Philippines Amusement and Gaming Corp (PAGCOR) has announced a near 20 percent drop in income from gaming operations in H1 as the Covid-19 pandemic forced the closure of properties. Under the current General Community Quarantine (GCQ) restrictions, casinos are not allowed to open, though it is understood that some casinos have been operating on a limited basis – either by invitation only, or only for its members.
Morgan Stanley has added its take to analysts predicting a rosy future for Macau, saying the gambling hub will come back stronger than before due to lower expenses and a better operating mix. The firm said due to the cost cutting and higher margin business from the premium and mass market sectors, gross gambling revenue only needs to get to 80 percent of its prior levels for EBITDA to be back where it was pre-pandemic.
Macau’s Gaming Inspection and Coordination Bureau, or DICJ, has confirmed to Asia Gaming Brief that the watchdog has granted 150 new-to-market gaming tables for SJM Holdings’ new flagship property, the Grand Lisboa Palace. SJM Resorts’ Chairman Daisy Ho first mentioned the table allocation on Wednesday. The chairman revealed that SJM’s new Cotai Strip property would be partially opening on Friday, with only one hotel tower opening at half capacity.
Darang Candra, director of South East Asia for Niko Partners says that there have been moves in Japan and Korea to regulate esports betting. Darang said the information was shared by industry insiders but stressed that it is still very early days for both countries and that no related laws have been proposed to either government as of yet. He made the note during his interview with Asia Gaming Brief Asia Editor Felix Ng, as part of AGB’s weekly Face-to-Face series.
The well-known content provider in the iGaming industry— Pragmatic Play will continue to expand its footprint in emerging markets worldwide. The increasing acceptance of iGaming has resulted in a gradual shift in attitude toward regulation, with more and more markets taking an approach to deliver legislative roadmaps that will drive business in a period of hyper-growth.
- SciGames launches new igaming slot Invaders Megaways
- SciGames’ Jin Ji Bao Xi series receives Megaways makeover
- iSoftBet introduces Ancients of Korea
Special Supplier Report
The Philippines largest telco neutral data centre operator Beeinfotech PH, has entered into an agreement with global managed hosting, connectivity and security provider, Continent 8 Technologies, to help businesses in the Philippines and across Asia strengthen their security services.
One question that has been asked is whether COVID-19 made security challenges more difficult or easier? Of course, fewer visitors decrease the typical violations and offences. On the other hand, the additional security measures and hygiene plans caused by COVID-19 create additional workload and increase complexity.