Daily Asia Gaming eBrief: Genting Bhd to back up RWLV over regulatory complaint

Wednesday 21st of August 2024

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Good morning. It's good to know somebody's got your back. That's exactly what analysts are predicting for Resorts World Las Vegas, stating that its parent company - Malaysia's Genting Berhad - will provide 'extraordinary support' to the operator in resolving its issues with the Nevada gaming regulator. Meanwhile, regulators in Australia continue on the warpath against betting adverts, leveling a record fine at online gaming operator PlayUp Interactive for promoting gambling inducements.

What you need to know

Resorts World Las Vegas is expected to receive strong backing from Genting Bhd despite a regulatory complaint, according to S&P.
Australian online betting operator fined $400K for illegal gambling inducements, a record penalty as authorities combat betting ads.

On the radar

Wynn Resorts appoints Max Tappeiner as President of Wynn Al Marjan Island.
Japan’s police to start first investigation into offshore online casino operations.
Alice Guo risks prosecution in China over POGO allegations: Senator.
Macau visitor arrivals topped 3 million in July.
Racing Victoria announces Aaron Morrison as new CEO.
Macau gaming workforce average wages rise in June.

AGB Intelligence

PENALTIES

Genting Bhd to provide 'extraordinary support' to RWLV

Analysts at S&P Global Ratings are expecting that Malaysia's Genting Bhd will provide what it terms 'extraordinary support' to its subsidiary Resorts World Las Vegas following a disciplinary complaint filed by authorities in the US state of Nevada. RWLV is accused of failing to fulfill its responsibilities as an operator for allowing punters suspected of illegal ties to gamble on its premises. The parent company is now expected to help RWLV smooth out terms with regulators to resolve the issue.

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