Daily Asia Gaming eBrief: Digital Isle of Man: strong competition but strong potential

Good Morning. The Isle of Man continues to be a hotspot jurisdiction for licensing, but the process isn't for just anyone, notes the CE of the Digital Isle of Man. Other jurisdictions are aiming to get a piece of that pie, but there's already a backlog of companies awaiting their licensing. Meanwhile, Light & Wonder could see some challenges in hitting its 2025 targets, note analysts. And in Macau, SJM saw a strong increase in gaming revenue in the first quarter, with Grand Lisboa Palace finally ramping up.

What you need to know

• Isle of Man license isn't "available for just anyone", while interest blooms alongside competition from other jurisdictions.
• Deutsche Bank: challenges in Light & Wonder reaching its 2025 targets, current valuation is high considering potential growth slowdown.
• SJM reports a 74.5% surge in 1Q24 net gaming revenue to $827M, with adjusted EBITDA improvements compared to last year.

On the radar

• INSPIRE helps Mohegan hit historic quarterly net revenue high.
• Japanese and Chinese punters drive up Paradise’s revenue in 1Q24.
• Creditors move to dismiss Imperial Pacific’s bankruptcy petition.
• GKL with almost 500% jump in net income in 1Q24.
• Everi Holdings revenue down by 5.6% to $189.3M in 1Q24.
• International Entertainment starts to operate new casino in Manila.

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