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Your Daily Asia Gaming eBrief: U.S. igaming powers ahead with surging 2Q revenue
Good morning. Nagasaki is now the latest prefecture to announce its chosen IR partner - Casinos Austria. Together they will continue efforts towards receiving national approval for developing an integrated resort in Nagasaki. That leaves Yokohama as the prefecture yet to select an IR partner, though the upcoming mayoral election held next Sunday could throw a wrench into these plans indefinitely.
Our Deep Dive today takes a look at U.S. gaming revenues over the last quarter, which is on track for its best-ever year in terms of commercial gaming revenue.
What you need to know
- Nagasaki prefecture has chosen Casinos Austria as its priority bidding partner for an IR license, beating two other contenders.
- Harichiro Okonogi, who is seen as having the support of Japan’s ruling party, is likely to have the edge in mayoral elections in Yokohama.
- Kangwon Land, the only locals-permitted casino in South Korea, returned to a profit of KRW20.9 billion ($18.1 million) in 2Q21 as revenue surged.
- Macau lawmakers are urging for sweeping changes in the SAR's gaming law and warn that VIP rooms may no longer be viable under new legislation.
- Crown’s former CEO Ken Barton has been grilled over his role in the various money laundering lapses at Crown Perth.
- Goa’s chief minister says he has no intention to allow casinos to restart operations whilst the state-wide curfew is still in place.
On the radar
- PRC lottery sales uptick allowed AGTech to narrow its loss in 1H21.
- Mohegan saw its revenues triple, owed to strong domestic recovery.
- PAGCOR has announced that 94% of its staff are now vaccinated.
- Nucleic acid tests for China-Macau border will now have 48-hour validity.
- FanDuel operator Flutter says 1H21 results "exceeded expectations".
- Widus holds first job fair for Hann Casino & Resort.
- Macau authorities have relaxed border restrictions with China.
What the papers say
- Genting U.K. casino robbed of five-figure sum by knife-wielding man.
- Saipan lawmakers have defend the doubling of egaming license fees.
AGB Intelligence
DEEP DIVE
U.S. igaming powers ahead with surging 2Q revenue
The U.S. is on track for its best ever year in terms of commercial gaming revenue, with sports betting in the first six months already exceeding the volume for the whole of 2020 and igaming enjoying a record quarter. Just three years after legalization, sports betting revenue came in at $1.8 billion in the first six months of the year, compared with $1.5 billion for the whole of last year, with $888.9 million generated in 2Q. There was a slight dip from 1Q due to a quieter sporting calendar in the period. Online gambling revenue was $901.2 million in the quarter, a new quarterly record and up 123.8 percent from the same period the year prior, while for the first half it reached $1.69 billion.
Industry Updates
- MGM Cotai wins best MICE venue award for second consecutive year
- Nominations for SBC Awards 2021 now open
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