Daily Asia Gaming eBrief: Tigre de Cristal sale allows focus on Philippines

Good Morning. Conflict does not always create opportunity. In the case of the LET Group, its decision to step out of the Russian gaming market with the sale of Tigre de Cristal, can help it focus its efforts on more profitable markets, such as the Philippines, notes expert Ben Lee in this week's Under the Scope. Meanwhile, for Macau, analysts at HSBC say that gaming stocks remain a preferred option for Asian investors, despite the cash flow recovery having largely been played out. And in South Korea, Mohegan INSPIRE can move ahead with its casino opening, having achieved a five-star hotel rating.

What you need to know

• The LET Group's decision to sell Tigre de Cristal and move out of Russia bodes well for its Philippines business: Ben Lee.
• Macau gaming bonds remain a favored choice for Asia credit investors, even as the recovery slows, notes HSBC's credit research team.
• Mohegan's INSPIRE earns a five-star hotel rating, paving the way for the group to fulfill on its promise to open the casino in 1Q24.

On the radar

• Daniel Finch appointed CEO of The Star Brisbane.
• ​​Macau yielded $1.6 billion in GGR during 21 days of January: HSBC.
• NSW commenced 13 prosecutions for ATM location breaches.
• Macau gaming industry service index reached its highest level in 2023.
• Delta Corp expects to recover in 2025 after GST setback.

AGB Intelligence

UNDER THE SCOPE

Tigre de Cristal sale allows focus on Philippines

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Industry Updates

• Manavia to showcase licensing expertise as IoM stand partner at ICE London.
• NUSTAR launches ‘I Love Cebu’ music video at new Atrium.

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