Your Daily Asia Gaming eBrief: SkyCity CEO sees future in convergence

Monday 8th of March 2021

Good morning.

We launch the week in grand fashion with an exclusive interview with Michael Ahearne, the new CEO of the SkyCity Entertainment Group. We cover many topics in the interview, including the fact that SkyCity sees its future residing in online and land-based gaming convergence. Turning to news that broke over the weekend, we examine the lockdown in Sihanoukville as Cambodia grapples with a local resurgence of the Covid pandemic. Finally, we take note of what the ratings agencies are saying about the earth-shifting move by Las Vegas Sands to extricate the firm from the glittering city that gives them their name.

First, the news

Sihanoukville goes into lockdown
Ratings firms mixed on LVS asset sale
Crown WA probe to take form of Royal Commission
Donaco sees improvement in slot business after restructuring
Macau GDP fell 56.3% in 2020
Wynn Macau offers leave for employee vaccinations
International Entertainment Chairman disposes of shares
Ukraine legislature fails to agree on gambling commission
POGO tax collections falling about 50% in 2021
SkyCity Auckland property reopen
Dream11 and NZ Cricket extend partnership to 2026
Wakayama tests potential IR bus service
Anti-casino group opposes Nagasaki IR
Joyce Tang appointed as IPI potential receiver

What you need to know

Ratings firms mixed on LVS asset sale

Las Vegas Sands' sale of its Nevada properties for $6.25 billion has elicited differing reactions from global credit ratings agencies. Fitch Ratings has reaffirmed the casino operator's ratings and negative outlook, but has decided that the transaction is a "slight credit negative" for the group. Its reasoning is that Las Vegas Sands will lose a source of revenue from Las Vegas once those properties ramp up again and also marginally reduces the group's diversification. Moody's says the deal is a modest credit positive.

Sihanoukville goes into lockdown

“No In and No Out” is the watchword in Sihanoukville as authorities grapple with a local Covid resurgence that has reached over a hundred people in recent days. Under the order, only cargo and goods vehicles, ambulances, and security services are authorized to move around the zone. However, Prime Minister Hun Sen has also urged trade and business activities to continue so as not to cripple the economy in Sihanoukville.

Insights

DEEP DIVE

SkyCity CEO sees future in convergence

SkyCity Entertainment Group chief executive Michael Ahearne says the future lies in online and land-based gaming convergence, a comment he has made after two years of leading the company’s online efforts. “If you look at all industry and sectors, particularly retail sectors, you’re seeing a transition from consumers moving from traditional bricks and mortar, whether its a retail shopping or a retail experience, into wanting to consume the product digitally, and our sector is no different," he tells AGB in an interview.

Industry Updates

Crown Resorts to phase out indoor smoking at all facilities
Bally’s bids for Allied Esports Entertainment
BBIN urges care for the world in latest TGB Charity video
Stake.com becomes official UFC betting partner for Asia, LATAM
PAGCOR releases PHP25m for Tapaz evacuation centre

Corporate Spotlight

All set for the FBM slots expansion campaign

FBM has been developing its slots offer over the last three years, with operations established in Europe and North America. The company is now accelerating its slots expansion campaign in Asia with Ways and Easy$Link - the two lines of spin reel titles composing FBM's value proposition for this specific game type.