Asia weekly round-up: G2E Asia returns, Sands China, SCCG Management & the Philippines
Today, we look at the biggest stories from Asia throughout the week and the return of G2E Asia...
G2E Asia: Two shows in Singapore and Macau to mark 2023 return
Trade show G2E Asia will return in 2023 twice, in both Singapore and Macau.
A “G2E Asia Special Edition: Singapore” will take place at Marina Bay Sands from 30 May to 1 June 2023, followed by a show at the Venetian Macao from 11 to 13 July – “Asian IR Expo + G2E Asia 2023.”
G2E’s return to Macau will be its first since 2019, before the Covid-19 pandemic began in early 2020. Both trade shows will be supplemented by a series of conference and networking events.
Sands China net revenue for Q4 down 32% year-on-year
Sands China has posted its Q4 2022 results, generating $439m in revenue, down 32% year-on-year.
The Chinese arm of Las Vegas Sands also saw its net loss grow to $348m compared to $245m in Q4 2021.
On a GAAP (Generally Accepted Accounting Principles) basis, full-year net revenues for Sands China were down 44% compared to Q4 2021 – to $1.61bn.
On the same basis, net loss was extended to $1.58bn in Q4 2022 compared to the prior year period.
These losses were expected, given Macau spent the Q4 2022 period under strict Covid-19 lockdown measures.
SCCG Management launches SCCG Asia
Gaming consultancy SCCG Management has launched a new business arm.
Per the launch, SCCG Asia will open a new office in Bangkok, Thailand, which will be led by Kent Jenkins as Director of the new operation.
The campaign will aim to provide management advisory services to casino, iGaming, sports betting and esports firms in Asia.
In addition, SCCG says it will provide solutions and resources for existing partners aiming for entry into Asian markets.
Philippines Senator calls for separate regulator for casinos and PAGCOR
There should be a separate regulator for casinos and the Philippine Amusement and Gaming Corporation (PAGCOR), according to Senator Win Gatchalian.
Gatchalian has proposed a separate regulator amid issues with the agency allowing operators potentially involved in criminal activity to continue operating in the Philippines.
He criticised the body at a Senate hearing, calling out its lack of sense of urgency regarding this matter. The Senator referred to a December 2022 privilege speech from Senator Grace Poe in which she named two Philippine Offshore Gaming Operators (POGOs) involved in criminal activities.
Since that moment, the pair has only been fined a “minuscule” PHP 500,000 ($9,180) by PAGCOR, with the body still coordinating with police.
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