Daily Asia Gaming eBrief: Crown Resorts maintains Sydney casino license

Wednesday 24th of April 2024

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Good Morning. Australian gaming operators are going through the ringer, and none more so than Crown Resorts, who has just now received validation for its remediation changes at Crown Sydney. Authorities in NSW have ruled the multi-million dollar efforts were worth every penny, granting back its casino license. Meanwhile, in Macau April GGR is running flat, even though monthly output could hit $2.23 billion. And for hotels, Labor Day is in hot demand but prices won't match CNY.

What you need to know

Crown Resorts gets validation from New South Wales government to keep its Sydney casino license, vows to keep up efforts.
Citigroup cuts forecast for Macau's GGR in April to $2.23 billion, attributing flat daily GGR performance for the rest of the month.
Labor Day Macau hotels are in high demand, with prices 20% lower than Chinese New Year and several fully booked: brokerages.

On the radar

Senator: PH gov’t to boost crackdown on foreigners in illegal POGOs.
Adelaide casino operator could face fines of up to $75 million.
Malaysia's RGB to acquire EGM's in the Philippines for $2.2M.
Macau plans to build outdoor concert venue near Cotai IRs.
Saipan casino watchdog delays IPI license revocation decision.

AGB Intelligence

AUSTRALIA

Crown Resorts found suitable to maintain Sydney casino license

Crown Sydney has been given the green light in regards to its remediation efforts, with the property now approved to keep its gaming license. The group notes that over $130 million was invested in its revamp efforts. It now moves on from the approval process in Melbourne and Sydney to the eventual processing of its Adelaide casino.

The Grand Ho Tram with more teams on the ground to drive foreign play: CEO

Walter Power, CEO of The Grand Ho Tram Resort and Casino, says that the group saw stellar results in 2023 but is aiming even higher, as it works to further penetrate key international markets with teams on the ground, while also leveraging its events to attract visitation from Ho Chi Minh.

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