Your Daily Asia Gaming eBrief: Proxy betting could ease pain for Korea’s foreigner-only casinos

Good morning. South Korea's foreigner-only casinos have been in a "world of hurt", and are likely to continue to do so for several more years, says industry consultant Ben Lee. The introduction of proxy betting could be a savior for the industry, though there are doubts whether the move would garner sufficient political support.

What you need to know

• Sands China reported more than a threefold increase in net revenue in 3Q21 compared to 2020, though its results are still far below pre-pandemic 2019. 
• Scientific Games may begin a US$3 billion Australian initial public offering of its global lotteries business as early as this week.
• Aristocrat announced it has successfully completed one of the key capital raising milestones required for its acquisition of Playtech Plc. 
• Galaxy Entertainment said it has invested $15.6 million in Asia’s first bio-diversity-themed bonds to support Macau’s finance industry.
• The Cambodian government has set new minimum capital requirements for new and existing casinos in a bid to improve the country’s economic growth.
• Metro Manila office vacancies are likely to rise to 15.4% by the end of the year due to a lack of demand from POGOs, Colliers International says.

On the radar

• Okada Manila to seek Japan/international expansion after merger.
• Crown Resorts says Steve McCann confirmed as CEO after regulatory nods.
• New law encouraging Macau budget hotels comes into effect Jan 2022.
• Macau Jockey Club operator records another year of loss in 2020.

What the papers say

• Trafficked Thai casino workers outline their Sihanoukville ordeal
• Bengaluru police arrest 27 in illegal India Premier League betting ring 
• Hoiana resort to welcome internationals back with tourist pilot program

AGB Intelligence

DEEP DIVE

Would proxy betting ease pain for Korea's foreigner-only casinos?

INDUSTRY UPDATES

• SJM Resorts wins eight China Wine List of the Year accolades
• Venetian gets award for best Macau resort and best Macau hotel suite
• Pragmatic Play donates EUR12,000 to eco-friendly causes on Malta

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