Your Daily Asia Gaming eBrief: Investors lulled into "false sense of security" on Macau

Good morning. Macau casino stocks saw a record sell-off on Wednesday after China announced increased oversight on the local gaming industry, though industry consultant Ben Lee says the latest moves from China shouldn't have come as a surprise. “We saw a series of responses by the Mainland in terms of anti-gambling edicts and the blacklists. This latest move should be no surprise for people who are expecting moves by China to control the industry.” 

What you need to know

• The record selloff in Macau operator stocks paints "a far more ominous picture than the reality of what has, or in many cases has not changed," Deutsche Bank said in a note.
• Scientific Games has told interested parties in its lottery business that the segment is likely to see revenue growth of 13.6% for the next two years.
• The Preah Sihanouk region is showing signs of recovery after a period challenged by an exodus of Chinese tourists and a ban on online gambling.

On the radar

• Mobile Premier League is India's second gaming unicorn valued at $2.3b 
• MGTO announced the resumption of the local tours program from Sep 18.
• Paradise Co. has been downgraded due to prolonged sluggish performance.
• Rich Goldman expects to record a narrowed loss for FY21 of HK$21m.

What the papers say

• Macau-registered cars to get easier entry to neighboring Hengqin.
• Cambodia promotes effective controls to keep up with the gambling industry.
• VIP gaming employee has been arrested for stealing MOP100m in deposits.

AGB Intelligence

DEEP DIVE

Investors lulled into a "false sense of security on Macau"

INDUSTRY UPDATES

• Sands China and Bank of China launch first co-branded Union Pay card.
• Evolution launches Fan Tan, a favourite Asian bead game.

MEMBERSHIP | MAGAZINE | ASEAN | CAREERS