Daily Asia Gaming eBrief: Suncity illegal online bets totaled $42 billion

Good Morning. The Suncity/Alvin Chau saga continues, as Chinese state media indicate that some $42 billion was wagered by Chinese punters in an illegal cross-border gambling operation linked to the junket. Meanwhile, in Macau, the year has started strong, with Citigroup estimating GGR topped $548 million in the first week. Further abroad, Bet365 saw strong revenue in its financial year, but results were driven down by increased expenses.

What you need to know

• China state-owned TV reported Suncity's illegal online gambling syndicate wagering exceeded $42.2 billion from 2015 to 2019.
• Macau had a solid start to 2024, as the city's GGR is estimated to reach $548 million in the first seven days of January, according to Citigroup.
• Bet365 reports pre-tax losses despite increased revenue totalling some $4.34 billion, as administrative expenses increased.

On the radar

• Kambi CEO resigning, to be elected to board, no successor yet indicated.
• Michael Marchetti appointed to the board of Light & Wonder.
• Analyst: CNMI should increase minimum hotel room requirement for EGMs.
• Thai police forced to pursue charges against illegal online gambling hosts.
• Malaysia focusing on grassroots eSports players via new MAL MY league.
• Jefferies warns Star’s Queen’s Wharf Brisbane debt refinancing will be challenging.
• New study suggests in-game ads make APAC mobile users ditch games.

AGB Intelligence

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China TV: Suncity online syndicate saw $42 billion in wagers

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