Your Daily Asia Gaming eBrief: Naga 3 - $3.5 billion expansion delayed by four years

Good Morning. Caution is the name of the game, as NagaCorp announces a four-year delay to the opening of its $3.5 billion Naga 3 expansion in Phnom Penh. The group cites inflation and the 'geopolitical macroeconomic environment' for the delay, as it aims to balance revenue and capex. And in Macau, analysts at Deutsche Bank have high expectations for the second quarter, predicting a four-fold increase in yearly revenue, with predictions FY23 could reach nearly $21.5 billion.

What you need to know

• NagaCorp announces delay on its $3.5 billion expansion project, Naga 3, citing inflation and the geopolitical macroeconomic environment.
• Analysts at Deutsche Bank see Macau 2Q23 GGR rising fourfold yearly, with FY23 GGR to reach up to $21.47 billion.

On the radar

• Deputy CEO of Resorts World Sentosa resigns after just five months.
• PAGCOR warns of ‘US-based illegal gaming website’.
• Far East Consortium pondering spin-off of Czech gaming business.
• Wynn Resorts extends contracts for CEO and CFO, ups salaries.

AGB Intelligence

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NagaCorp says $3.5 billion Naga 3 delayed by 4 years

Industry Updates

• NeoGames’ Aspire Global suite now live with Metropolitan Gaming.
• IGT signs 3-year contract extension with Svenska Spel.

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