Russia
Summit Ascent GGR to rise 190% for two years: BoA
Bank of America/Merrill Lynch has added its voice to other recent commentary pointing to significant upside for Summit Ascent due to optimism over its projects in Russia and the Philippines.
Suncity expansion plans to fire ahead
While the pandemic may have brought tourism to a standstill, Suncity Group Holdings is showing no indication of slowing down its expansion plans in tandem, announcing an ambitious range of targets for 2021.
Russia’s sports betting overhaul pushes up costs for industry
Russia’s parliament has passed a new bill redistributing control over the online betting market, creating a unified gambling regulator to track bets and allocations to sporting leagues and significantly increasing costs to the industry.
Primorye casino tax incentives extended to end of year
The local government has decided to extend tax incentives for the two casinos facing the economic challenges of the pandemic through the end of 2020. This two-month extension is estimated to reduce tax intake by about 7.3 million rubles (US$96,000).
Staycations to benefit Summit Ascent in short term
Locals seeking staycations are likely to provide strong support for Summit Ascent in the short term until international travel resumes, Citic Securities analysts wrote in a note.
Primorye seeking more investors for non-gaming entertainment projects
The Primorye Development Corporation is interested in attracting investors who can enter the region with interesting projects. The main objective is to create an attractive infrastructure for tourism and recreation that can complement the existing gambling operations.
Deloitte resigns as Summit Ascent auditor
Summit Ascent has announced that Deloitte Touche Tohmatsu resigned as the auditor of the company with effect from November 17 2020, and the board, with the recommendation of its audit committee, has asked shareholders to approve Suncity, Crowe (HK) CPA Limited, as the new auditor.
Non-gaming facilities under development next to Primorye gaming zone
Primorsky Krai Development Corporation JSC has highlighted its plans for a 360 hectare set of non-gaming facilities to accompany the developing gaming zone in Muravyinaya Bay. They also said that a South Korean group is planning a US$300 million golfing club.
Shambala casino launches poker club
The recently-opened Shambala casino in the Russian Far East has launched a poker club to develop its patron base and increase visitation.
Summit Ascent GGR growth to soar on Suncity backing
Brokerage house Credit Suisse has initiated coverage of Summit Ascent Holdings, giving the firm a strong vote of confidence due to the backing of major shareholder Suncity Group, with gross gambling revenue projected to surge 349 percent next year.
Life After POGOs – AGB Dossier
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
Australian market report: How to adapt to the new normal
Covid-19 forced the rapid and unexpected closure of venues across Australia, changing the operating environment with unprecedented speed and leaving managers scrambling to adapt...
Life After POGOs – AGB Pop-Up Forum
The Philippines and Asia’s online gaming industry is going through uncertain times, with the gaming regulator seeing more and more operators leaving the country for greener pastures.
Acquiring & Retaining iGaming Customers
In this AGB Webinar Series, we covered the newest strategies for iGaming player acquisition and retention.
Attracting players, not fraudsters
With sports betting restarting we are now seeing traffic levels return to pre-COVID levels. The same is unfortunately true for fraudulent activities as operators tempt players, both new and existing, with lucrative bonuses and attractive game offerings.
Asia Gaming Briefings – Dec 2020 Edition
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing
what 2020 may have had in store.
Asia Gaming Briefings – Nov 2020 Edition
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.
Asia Gaming Briefings – Oct 2020 Edition
Before the Covid-19 crisis, tourism in the Greater Mekong Sub-Region was at a record high, on track to welcome 80 million visitors in 2019, generating some $90 billion in revenue.