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Tabcorp missed the digital growth curve: J.P. Morgan

Australian betting major Tabcorp Holdings seems to have missed to surf the timely digital wave and the company is struggling to reconnect on digital front, J.P. Morgan argues.

Construction work progressing at Mohegan’s $5b Inspire in South Korea

Progress in Mohegan’s Gaming & Entertainment ambitious $5 billion resort project Inspire at Icheon International Airport in South Korea as the company posts $8.3 million loss for 2Q22. 

Parent STDM extends SJM HK$2B “disappointing” loan to support Macau tender  

SJM Holdings Limited announced Wednesday that STDM agreed to extend an unsecured term loan of HK$2 billion in terms J.P. Morgan classifieds as disappointing. 

VIXIO estimates $6.35B tax revenue ceiling from legal iGaming in the US.

Independent VIXIO GamblingCompliance report commissioned by Light & Wonder estimates a $6.35B annual tax ceiling for the US legal igaming market as the sector current receipts approach two times that of Sportsbetting.

MGM China posts $52m loss on 2Q22 from Macau travel restrictions

MGM China posted and EBITDA loss of $52m for 2Q22, compared with a positive $9 million the previous quarter as Macau travel and entry restrictions severely impacted operations.

IGT reports a net loss of $4m in 2Q22, secures NUSTAR

IGT’s consolidated net loss stood at $4m, as compared to the net profit of $306m reported during for 2Q22. On the upside, NUSTAR will feature IGT systems and cashless wallet solutions.

Macau-China quarantine-free travel to have limited impact in the casino industry

Macau-China quarantine-free travel to have limited impact on gaming demand as the easing restrictions will only appeal to essential travelers, J.P. Morgan argues. 

Philippines posts better than expected GGR, up 34 percent in 2Q22

PAGCOR indicated signs of recovery after reporting a GGR revenue of $947 million (~P52.6 billion), up 34 percent quarter-on-quarter from $705 million (~P39.1 billion).

Star assures support to the Victorian government’s major gambling reforms

Star assures support for the Victorian government’s major gambling reforms as parliament slates A$100 million fines for casino misconduct. 

Maybank revises Genting Malaysia target share price on growth expectation in FY22

Genting Malaysia (GENM MK) share prices are likely to see an improvement from the present-day price of 2.92 Malaysian Ringgit (~$0.66) to 3.27 MYR ($0.73), brokerage note from Maybank Investment Bank read.

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