The Americas

• US casino operator Wynn Resorts presented third quarter results with a loss of more than $ 700 million and announced a switch to iGaming.

• Meanwhile, all gaming operators are closely following the controversial results of the US presidential elections. With President Donald Trump denouncing fraud and Democratic candidate Joe Biden leading the count in several of the key states, the entire country is in turmoil. Uncertainty has gripped the markets.

• In other news highlights this week, the Online Series of the World Series of Poker hosted by GG Poker became the largest ever played poker event in history, breaking the Guinness World Record. Daniel Negreanu, the GG Poker Ambassador, received the award in the name of the popular website.

• The Illinois Gaming Board approved the partnership between FairmountRacetrack Park and the operator FanDuel. In this way, FanDuel becomes the first sportsbook authorized to offer bets on multiple race venues in that state.

• The rating agency Fitch downgraded the Atlantic City Casinos operator when evaluating its recent financial results during the pandemic.

• Michigan authorities decided to relax the self-exclusion rules to encourage the return of some players.

• MGM Resorts announced that it will appeal the fine imposed by OSHA for the alleged failure to observe social distancing measures in one of its casinos in Las Vegas.

Europe

• The European Gaming and Betting Association (EGBA) launched strong criticism of the recently approved restrictions on advertising and marketing of games in Spain. The association considers that these rules violate EU laws.

• For its part, the Spanish government is forcing sports teams to terminate gambling sponsorship agreements signed with legal operators. Due to the health crisis and the ban on sponsorships, La Liga teams will face heavy losses.

• Swedish online gambling operator LeoVegas is concerned about third quarter gambling issues.

• The Dutch government gave a preview of the new gambling regulations that will come into effect in March next year.

• Kindred Group announced the withdrawal of its 32Red brand from the Italian market and did not provide details about this drastic decision.

• British gaming operator GVC has warned its shareholders to prepare for disappointing financial results. Due to the closure, the company reported negative earnings of £ 37 million.

• The Latvian government announced a 45.5% decrease in gaming revenue during the first nine months of this year, mainly due to the pandemic.

• Bojoko Commercial Director Joonas Karhu announced the launch of the Professional Gaming Affiliate Association, which will help foster good relationships between industry operators and their affiliates.

• William Hill announced the five finalist books in the annual competition organized by the British sports betting giant. Competitors will fight to be chosen as the 32nd sports book of the year.

• Dr Craig Wright prepares to sing victory in the UK in the libel case he brought against podcaster Peter McCormack.

• The future of Casino Park Laneen in London looks uncertain after the British regulator revoked its license due to problems related to property control.

• Platform developer Better Collective Media Group acquired two new gaming companies in Poland and Ireland, respectively.

Asia

• Following the release of the earnings report for october, Macau casino operators had a breather. The Macao Gaming Coordination and Inspection Office (DICJ) reported a drop of 72.5% compared to the same month last year. Despite being negative, it is considered a success judging by the terrible year this special region of China has had.

• Results for casino developer, owner and operator Melco Resorts underperformed in the third quarter, losing more than $ 300 million to pandemic closures and sanitation measures.

• Three other operators in the Subic Bay region of the Philippines intend to close their doors, as revealed by SBMA President Wilma Eisma. Chinese operators claim that the restriction measures generated by the pandemic and its effects are unbearable.

• PAGCOR ultimately lost the case against Waterfront Casino. The Philippine regulator had filed an appeal with the Supreme Court to avoid granting a license to the gaming operator.

• Given the difficult situation of land-based casinos in Manila, the authorities have expressed their willingness to allow them to launch online operations to mitigate their losses.

• Little by little, support for the Nagasaki IR continues to grow as local authorities try to have the region chosen by the national government.

• Australian operator Crown Resorts is facing a tough legal battle trying to keep its casino license. The Australian government is thoroughly investigating its questionable operations.

• For its part, the Australian operator PlayUp said it plans to expand in the United States through a new capital placement.

Source: https://calvinayre.com/2020/11/06/business/gaming-industry-news-weekly-recap-week-of-november-2/

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