Daily Asia Gaming eBrief: Emerald Bay struggling to stay afloat as financing dries up

Good Morning. A waiting game. That's what potential investors and bankers are playing as they look at the issues that Emerald Bay, in Cebu, is facing as its most recent investor (and lifeline) has pulled out. Expert Ben Lee points out how ownership laws limit potential foreign interest, despite the property's potential. In Japan, issues around the Osaka 2025 expo cause concerns over the opening date of MGM's new casino. And in Macau, analysts at JP Morgan peg GGR at $2.2 billion for December, anticipating a green Christmas.

What you need to know

• Emerald Bay suffering from heady foreign investment issues, as latest investor pulls out. Expert Ben Lee points out what went wrong.
• Issues causing delays to the construction of a pavilion for the Osaka 2025 expo could also impact the construction of the MGM-Orix integrated resort.
• JP Morgan predicts a 10 percent quarterly increase in Macau's 4Q23 mass GGR, with December's GGR estimated to be $2.2 billion.

On the radar

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• Kangwon Land appoints new CEO following resignation of previous head.
• AGEM Index increased by 7.7 percent in November.
• LVS purchases a further $249.5 million in Sands China shares.

AGB Intelligence

UNDER THE SCOPE

Emerald Bay facing a financing crisis

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