Your Daily Asia Gaming eBrief: Philippines casino potential seen as intact, despite Covid and clampdowns

Good morning. Two mothballed casino projects on the Philippines island of Boracay are looking like they're ready for a comeback after a surprise u-turn from Philippines President Rodrigo Duterte on the issue. We speak to a number of Philippines market experts on the opportunity that this political shift entails. 

What you need to know

• The outlook for Southeast Asian gaming stocks has been downgraded to "in-line" by analysts at Morgan Stanley on slow reopening, China drag.
• Alliance Global’s Andrew Tan said his company plans to move ahead with a casino at the Boracay Newcoast mixed-use development.
• Paradise and GKL have both reported improved casino revenue for August compared with the prior month.
• Crown Resorts new CEO Steve McCann says that leasing out the group’s casinos is among one of the options he will consider should the group lose its gambling licenses. 
• Japanese PM Yoshihide Suga in a surprise move on Friday said he will be stepping down after only one year in the role.

On the radar

• Mohegan Gaming appoints Jody Madigan as COO.
• NSW gaming regulator appoints Gillian Eldershaw to the board.
• PAGCOR failed to collect P1.4 billion of receivables from POGOs in 2020.
• AGEM Index reached an all-time high in August. 
• MGTO expects as many as 30,000 visitors a day during Golden Week.
• Former Tabcorp general counsel of wagering and media joins Senet.

What the papers say

• IPI appeals to U.S. Court over a $5.9m award to construction workers.
• HKJC reports record turnover during season-opening of HK$1.4 billion.
• Karnataka government approves online gambling ban, except online lottery and horse betting.

AGB Intelligence

DEEP DIVE

Philippines casino potential seen as intact, despite Covid/China clampdown

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