Your Daily Asia Gaming eBrief: Is STAR headed for a de-CROWNing?

Tuesday 26th of October 2021

Good morning. This morning, the 652-page royal commission report on Crown Resorts' misconduct was tabled to the Victorian government. The report found Crown unsuitable to hold its Melbourne gaming license, with a total of 33 recommendations made. Recently, The Star Entertainment Group found itself in very similar hot water to Crown. Our infographic today explores the similarities and differences between the two companies in terms of what has been alleged, and what have been the consequences (so far).

What you need to know

Crown Resorts has been found unsuitable to hold a casino license in Victoria, but has been allowed to keep its license and operate for now whilst it “cleans up its act.”
Macau wrapped up public consultations to changes in its gaming law, with the regulator saying a proposal to limit dividends is to ensure the city meets economic diversification goals.
Concern that China wants to reduce the role of U.S. operators in Macau is “unfounded,” Bernstein said in a note presenting Sands China as its top pick for 4Q21.

On the radar

Summit Ascent gives business update on Tigre de Cristal, revenue back to pre-Covid.
Macau Legend board says aircraft sale price “fair and reasonable”.
The re-opening of quarantine-free travel led to a doubling of Macau daily GGR.

What the papers say

Two tribes left in tender for casino in Chicago Southland.
Karnataka High Court to hear online gambling ban challenges on Oct. 27.

AGB Intelligence

BY THE NUMB3RS

Is STAR headed for a de-CROWNing?

The Star, who has been seen as the more well-behaved sibling, has recently been accused of many of the same bad behaviors that landed Crown in hot water over the last two years. However, there are some key differences between the two. Crown has already endured two years of having its skeletons dug out of the closet after countless inquiries and royal commissions. For the Star, the journey may have only just begun.