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Nomura revises Genting Singapore target price to SGD0.97

Genting Singapore reported second quarter numbers for the period ended on Jun 30, of which total revenue of the company grew 26 percent on YoY basis and 11 percent on QoQ basis at $349 million, whereas the net profit of the company was down 18 percent on YoY basis and up 9 percent on QoQ basis at $44 million, which has compelled the brokerage to revise the target price of the company, despite the company sees manpower shortage as one middle-term hurdle and higher gaming tax clubbed with lower VIP win revenues.

Macau gaming sector sheds 3,100 staff in 2Q22, unpaid leave abound

Employment data of Macau is out for the second quarter ended on Jun 30 and the jobs in gaming sector are down 4% on quarter-on-quarter basis, employing 69,000 headcounts, as compared to 72,700 headcounts in the first quarter of 2022.

US posts record 2Q2022 GGR, up 9.1 percent at $14.8 billion

Nationwide commercial gaming revenue totalled $14.81 billion in Q2 2022, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker, with maximum contribution reported from traditional gambling vide slot machines.

Kangwon Land solid 2Q22 results reflect confidence in recovery: J.P.Morgan

Following Kangwon Land 2Q22 earnings report, J.P. Morgan has rated the company as “Overweight” based on the solid second quarter numbers for the period ended on Jun 30 and anticipating a turnaround by the company likely to cross pre-COVID numbers.

Queensland posts 32 percent growth GGR for 2Q2022

Gross gambling revenue (GGR) for the month of July is up 16 percent on monthly basis at A$62 million in July 2022, from A$54 million in June 2022, data released by Queensland Government shows.

Tourism may lease life to the Chinese economy as zero-policy expected to continue through 2023

Chinese GDP is expected to take a hit even in 2023 as the Mainland continues to stress of the “Zero-COVID” policy - tourism demand to provide a breather.

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.

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