Tuesday, April 13, 2021

Slow road to recovery for in-person convention industry: Bernstein

Analysts at Bernstein are expecting a slow recovery of the in-person meetings and events industry, with visitation levels from this subset to return at 2023 at the earliest. 

Macau gaming industry recovery underway [Infographic]

Whilst first quarter GGR in 2021 still showed negative year-on-year growth, the truth is that the Macau gross gaming revenue recovery is well and truly underway. 

High-powered Kyushu IR Promotion Council launched

The stars of the regional political and business world came out on Monday to formally launch the Kyushu IR Promotion Council, aiming to win one of the three available licenses from the central government.

Macau Q1 consensus estimates likely too high: MS

Consensus estimates for Q1 earnings at Macau’s six operators may be too high, with corporate EBITDA likely to be lower than the prior quarter due to an uneven recovery and higher expenses, Morgan Stanley says.

OTHER NEWS

Macau citizens and permanent residents will soon benefit from a US$999 handout in order to boost consumer spending as the SAR recovers from the pandemic.
Paradise Hotel Busan has announced it is trialing an ‘AI Serving Robot’ to expand its non-face to face services to its food and beverage establishments.
With an 80 percent drop in casino revenues, the CNMI GDP fell 11.2 percent in 2019, according to data from the U.S. Department of Commerce-Bureau of Economic Analysis.
Evolution Gaming Group said it agreed to buy Australian online slot company Big Time Gaming for EUR450 million ($535 million) in cash and stock.
The Macau gross gambling revenue rose 16 percent in the second week of April from the prior week, but was still softer than expected, according to Bernstein Research.
Hong Kong police have busted a gambling den, arresting 65 people, including a 28-year old constable. The police officer has been suspended from duty.
Australia-listed Crown Resorts has announced the appointment of a new executive director, Bruce Carter, to the Crown board, subject to regulatory approvals. 
Ratings agency Moody’s Investor Service on Friday affirmed Scientific Games’ B3 Corporate Family Racing, B3-PD Probability of Default Rating and changed its outlook from negative to stable.
The quarantine rules in Metro Manila and four adjacent provinces have been eased starting today, according to an announcement by presidential spokesperson Harry Roque. 
Genting Malaysia's EBITDA is likely to return to its pre-pandemic levels by 2022 and reach 60 percent this year, Standard & Poor's said.
Mohegan Sun's Inspire Entertainment Resort project in Incheon, South Korea, will be a long-term positive for the group, despite the risks, Moody's Investors Service said in a periodic review of the company's credit rating.
China's efforts to stamp out cross border gambling are showing no signs of abating, with the Chinese Minister of Public Security, Zhao Kezhi, saying that the strictest measures are needed to eradicate the practice.
Wynn Resorts said all of its employees will be given the choice of either completing a Covid vaccination or obtaining weekly negative tests, with 60 percent of staff already having received their shots.
Chinese police have broken up more than 3,400 gambling platforms, and over 2,800 illegal payment platforms and underground banks since the crackdown on cross border gambling began in 2020, said the Ministry of Public Security on Thursday. 

INDUSTRY UPDATES

Zitro has been shortlisted twice for the prestigious Global Gaming Awards London 2021, to be held on June 28th, coinciding with Clarions ICE Connect event.
Melco Resorts & Entertainment said its Studio City Phase 2 has been named winner of the ‘Regional Award, Asia’ at the BREEAM Awards, which recognize significant achievements in sustainable development. 
Norweign company EpiGuard’s innovative single patient isolation and transport system is now being pushed for use in the cruise industry. 
Wynn Resorts has announced a new COVID-19 vaccination and testing policy for its employees at Wynn Las Vegas. The policy gives employees the option of either completing a COVID-19 vaccination or obtaining weekly negative COVID-19 tests.
Pragmatic Play has launched Wild Booster, a classic themed, 3x5 video slot that contains all the symbols associated with the casino floor, with fruits, gems, lucky 7s and Diamonds filling the reels.
Pinnacle has partnered with DeckPrism Sports in a deal which will enable the online bookmaker to further enhance its in-play betting experience and take its betting product to the next level, using the latter’s proprietary models.
The Coingaming Group said it has extended its partnership with Southampton Football Club as Main Club Partner for a further three years in a deal that will see the group's brand, Sportsbet.io continue as the club’s front-of-shirt sponsor.
Studio City’s new water park will open next month, which comes part of the wider expansion project of Melco’s Cotai resort.
Everi Holdings Inc on Monday announced that E. Miles Kilburn, Chairman of the Board of Directors of Everi, has informed the Company he will retire from the Board of Directors and will not stand for reelection at the Company’s 2021 Annual Meeting of Stockholders.
Microgaming has announced a slew of new games to hit the market in April

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