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Mohegan adds $73 million to Inspire Resort and maintains the 2023 deadline

Based on the notes reflected in the second quarter financials, in the first week on August 2022, Asia Gaming Brief (AGB) reported on how the construction work was progressing at Mohegan’s $5billion Inspire Resort project, the news now gets more solidified, as the company top-ups the credit for the Korean Project facilities adding $73 million, 13 percent up, from its previous fund allocation.

Las Vegas revenues “likely to dip” in 2023: Fitch Ratings warns

Fitch Ratings latest research paper on the North American gaming industry sounds warning bells on an anticipated drop in the revenues from Las Vegas in 2023.

GTA appoints Chair, Anthony Ball, and Vice Chair, Cameron Louis, at AGE 2022

The Gaming Technologies Association (GTA) confirmed the appointments of Anthony Ball as Board Chair and Cameron Louis as Vice Chair at an announcement made at the Australasian Gaming Expo (AGE) 2022.

J.P. Morgan “Overweights” Aristocrat shares

With most of the competitors of Aristocrat Leisure Ltd, based on opportunities in revenue stable gaming operations segment and possible growth dynamics amidst challenges in digital space, leading brokerage establishment J.P.Morgan has rated ALL share as “Overweight” and cites target price of A$46 per share from its current trading of A$34.11 per share.

Mohegan’s profit up 1.5 times at $59.4 million for 2Q22

Mohegan Tribal Gaming Authority’s consolidated net profit for the quarter ended on June 30, grew significantly almost 1.5 times on a year-on-year basis aided by reasonable growth in top-line and operating income.

China low consumer confidence to impact Macau gaming revenues: Bernstein

Leading brokerage Bernstein raises concerns that, “Q3 has been trending worse (for Macau Gaming), as there were 41 days of Macau border closure.” Bernstein expects Greater China travel between Hong Kong, Macau, China and potentially Taiwan to be fully in place by year-end

Quarantine tweaks unlikely to solve Hong Kong’s economic troubles: FITCH

The Hong Kong government’s decision to loosen mandatory quarantine requirements will reduce the burden on inbound travellers but do little to offset the territory’s near-term growth and fiscal pressures, says Fitch Ratings. 

Macau underperformance catalyzes conservative target price revision of Wynn shares

Macau underperformance catalyzed conservative target price revision of Wynn shares, most of the leading brokerages have conservatively revised the target price of shares of Wynn Resorts Ltd and Wynn Macau Ltd

Landing International issues profit warning on gaming business uptick

Hong Kong-headquartered Landing International issued a profit warning anticipating rise in the net revenues and decline in losses for the second quarter of 2022 which ended on June 30.

BetMGM taps actor Jerry Ferrara as brand ambassador, content creator

BetMGM, a leading sports betting and iGaming operator, announced today the signing of actor Jerry Ferrara as a celebrity brand ambassador and its newest podcast host.
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Industry keen to reconnect at gaming summits post COVID

Recapping the first industry gathering post-pandemic in Manila, Ken Jolly, VP, and MD Asia, Light & Wonder stated that “we are hearing around the world after COVID that people are wanting to go back to shows and get back to summits. You have proven it here” - at the ASEAN Gaming Summit 2022.

UPCOMING EVENTS

UPCOMING EVENTS