Asia round-up: Premium Leisure Q3; Osaka’s anti-addiction ordinance & Wolfden
Premium Leisure Q3 revenue up 16% year-on-year
Operator of City of Dreams Manila, Premium Leisure, posted revenue of PHP 615.3m ($10.5m) for Q3 2022, up 16% year-on-year.
The company – itself a subsidiary of Belle Corp – also saw its net income rise by 16% to PHP 382.9m.
The operator’s current year-to-date revenue stands at PHP1.8bn, up by over PHP 300m on revenue from the prior-year period, which stood at PHP1.26n.
Year-to-date expenses are also down 7% for Premium Leisure, with the company regaining sustainability as tourism continues to grow in the Philippines following the Covid-19 pandemic.
However, losses for Premium Leisure were higher, but this was – in part – due to higher takings averaging a higher loss from table games, poker and slots at City of Dreams Manila.
The proof of Premium Leisure’s success can be seen in its year-to-date profit, making PHP 1.15bn compared to year-to-date figures last year of PHP 945.2m.
Osaka establishes ordinance for gambling addiction
Over in Japan, the region of Osaka has established and passed an ordinance draft to endorse measures that counter gambling addiction.
The news comes ahead of the expected issuance of a licence for the Osaka region to build an integrated resort (IR).
The resort is set to be constructed by MGM Resorts and will be the first property the operator manages in Japan.
Ordinance bills were submitted separately by Osaka Ishin (Osaka Restoration Association) and the Liberal Democratic Party (LDP). It was Osaka Ishin’s bill that passed with a majority of parliamentary votes.
The bill will call for a Counter-addiction Promotion Department to be established, which will offer anti-gambling addiction services to locals.
A separate ordinance bill was also drafted for the funding of this new department, which is set to be led by Osaka’s Governor, Hirofumi Yoshimura.
Social betting platform Wolfden goes live
In Australia, Wolfden has debuted a new experience for Australian bettors, combining social media, news, tips and wagering, “all in one platform.”
The Wolfden app and Wolfden.bet website have gone live in a so-called “soft launch,” after 15 months of development.
Richard Irvine, Wolfden CEO, commented: “We wanted to create a social platform that is exclusively for punters.
“One app where you can get the latest injury and industry news. Plus, tips that you can copy in one click, as well as the shared social experience that the bookie ring provided in years past.”
The platform is anchored by a social and news feed, featuring posts from Wolfden’s team in Surry Hill. Users can also find sports and racing coverage, and engage in the platform’s “Wolfchat” feature or “Copy Bets.”
Irvine continued: “We want punters to feel entertained with funny, light content that specifically speaks to their interests.”
Wolfden has also partnered with ColossalBet, a licensed bookmaker of Racing New South Wales (NSW), to integrate live odds and wagering.
Irvine compared the platform to Barstool Sports in the US, adding: “Similar to Barstool Sports in the US, we want punters to enjoy an exclusive vision of the Wolfden office as we place big bets and share them on the feed.”
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