Your Daily Asia Gaming eBrief: Not dead, after all – Junkets, satellites

Good Morning. Despite warnings that junkets were dead, they are still in the law. In a special edition of our Face-to-Face interviews, Alidad Tash, managing director of 2NT8 Ltd. predicts satellite casinos will also ultimately survive due to the priority given to local employment. Tash takes you through the unpleasant surprises from the gaming law proposal, now being rushed through the legislative process, and its key implications to the industry at large.

What you need to know

• Sands China generated positive EBITDA in 2021 reaching US$338 million, owed to resilient customer demand and spending. 
• Wynn Resorts' planned integrated resort in the United Arab Emirates could produce robust returns on equity investment of about 20-30 percent, Bernstein said, noting the majority of revenue is likely to be from non-gaming.
• LVS, wrapping up its arguments in a Macau court case, said Asian American Entertainment Corp. (AAEC) had held talks with other potential partners over a license bid in late January of 2002.
• Jason Ader, chairman and chief executive officer of 26 Capital Acquisition Corp says he has been impressed by the performance of Okada Manila in the fourth quarter of 2021, despite ongoing restrictions and lack of international tourism.

On the radar

• More hotel rooms key to the continued growth of Macau gaming: DS Kim
• The number of Macau junkets down by half from last year to 46.
• Suspicious sports betting alerts drop 13% in 2021, though football at a record high.

What the papers say

• Turkish workers have accused Imperial Pacific of discrimination
• Caesars to rebrand Bally’s as Horseshoe Las Vegas

AGB Intelligence

FACE-TO-FACE

Not dead, after all – Junkets, satellites

Industry Updates

• Jumbo Interactive continues intl expansion with StarVale Group acquisition

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