Think China is the great growth market for online gaming? In our latest Face To Face interview, Jade Entertainment’s Joe Pisano begs to differ. He says that the real future is in India. Watch and find out why! He also has much to say about the Philippines market. Also, the Wynn Resorts Q4 and full-year revenue numbers are out. We present the full picture below. Finally, we have an update on the Hong Kong Jockey Club, in particular regarding the government’s decision to allow extra simulcast days during the summer racing lull.
First, the news
- Wynn Resorts operating revenues down 58.5% in Q4
- HKJC says extra simulcast days to combat illegal gambling
- Macau swears in Lio Chi Chong as DICJ deputy
- Covid recovery seen stalling Macau’s non-gaming push
- Crown Perth casino to remain closed until February 14
- CNMI regulator needs to up controls to avoid China blacklist
- Resorts World Genting extends closure to February 18
- Konami gaming segment revenue down 48.8% in nine-month period
- Japan junket executive in hot water over possible Macau gambling losses
- Primorye government touts progress of casino entertainment district
- Ukrainian Gaming Week moves conference to February, show in March
What you need to know
The Hong Kong Jockey Club said the government’s decision to allow extra simulcast days during the summer racing lull will help curb the illegal gambling that has threatened to undercut its revenue in recent years. The government will allow the club to broadcast 14 more days of racing from overseas meetings into Hong Kong, taking the total number of days to 37. It will simulcast during July and August, allowing people in Hong Kong to bet on races even though there is no local racing at that time.
Wynn Resorts has published its fourth-quarter 2020 and full-year financial results, headlined by a 58.5 percent year-on-year decrease in operating revenues. Operating revenues came to a total of US$686 million for the quarter. Net losses attributable to the company were US$269.5 million. Matt Maddox, CEO of Wynn Resorts, offered the following statement: “We are encouraged by the progress we have made at each of our properties over the past several months, as we continue along the road to recovery from the pandemic. In Macau, the gradual and thoughtful easing of visitation restrictions allowed us to return to Adjusted Property EBITDA profitability in the fourth quarter, with particular strength in our premium mass business.”
FACE TO FACE
Joe Pisano, CEO of Jade Entertainment, talks with Asia Gaming Brief Managing Editor Sharon Singleton about the company’s new India-facing online operation and his plans to roll out online products in the Philippines under PAGCOR’s new PIGO licenses.
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