Weekend Conversation Corner – January, 23

Welcome to the most recent installment of our Focus Gaming News Weekend Conversation Corner, where we provide a brief overview of the week’s top headlines that have captured global interest. As we break down the flurry of events into a concise summary, we will highlight the key stories that have influenced discussions, policies, and narratives. Join us as we cut through the noise and offer a condensed look at the week’s crucial developments, keeping you informed on what truly counts in today’s ever-changing world.

Stay informed, stay inspired, and keep on gaming. Have a fantastic weekend ahead!

Macau Legend rights issue sees low uptake

Macau Legend reported a weak response to its latest rights issue, with only 49.49% of subscriptions. Despite this, the company raised HK$93m in gross proceeds. The new subscription included 310.06m shares, with 16.84% being under-subscribed. Former Tak Chun junket head, Levo Chan, saw his holdings decrease, while CEO Li Chu Kwan retained his stake. The raised capital will be used to pay down current debt as the company faces financial challenges, posting a net loss in the first half of 2025. Macau Legend has disposed of assets and lost control of a planned casino resort in Cape Verde.

New PAGCOR rules expected to trigger consolidation in Philippine online gaming market

The Philippine Amusement and Gaming Corp (PAGCOR) has introduced new regulations requiring online gaming operators to generate a minimum monthly revenue of PHP30bn and pay a fixed fee of PHP9bn. This move is expected to lead to mergers, partnerships, or exits for smaller operators, as only a limited number can meet the financial requirements. Currently, out of 72 licensed operators, only 33 are active, and this number may decrease to around 15. Industry experts predict that over half of existing platforms may become non-viable under the new rules. Some consolidation has already begun, with online platforms partnering with land-based casinos. PAGCOR aims to strengthen oversight and bring unregulated operators into the formal system, ultimately creating a more stable and well-capitalized online gaming market.

Macau Legend seeks legal advice after Cape Verde’s seizure of casino project assets

Macau Legend Development is seeking legal advice after the government of Cape Verde took possession of assets related to its casino project in Cidade da Praia Bay. The company believes the government’s request lacked a legitimate basis. The project, announced in 2014, aimed to create a tourism and real estate destination with luxury hotels, a casino, and more. Construction began in 2016 but faced delays. Government officials cited breaches of legal and contractual obligations for terminating agreements and assuming control of the site. Macau Legend stated that this event will not significantly impact its operations or finances, as the assets had already been fully impaired.

PAGCOR CEO stresses importance of effective regulatory enforcement against illegal gambling

Alejandro Tengco, CEO of PAGCOR, emphasized the need for strong regulatory enforcement in the online gaming sector at ICE Barcelona 2026. He highlighted the challenges posed by illegal operators and the importance of maintaining trust and fair competition. Tengco praised the Philippines’ regulatory reset, including banning offshore gaming operators and implementing player-centric regulations. PAGCOR has introduced measures like stricter identity verification, responsible gaming tools, and controls on gambling advertising to protect vulnerable groups. Financial safeguards were also enhanced through restrictions on payment channels and a minimum fee for operators. Tengco discussed plans to separate regulatory and commercial functions to improve independence and align with global standards. The goal is to create a gaming ecosystem that is transparent, competitive, and trustworthy.

Macau gaming entering more stable phase, S&P says

S&P Global Ratings predicts a slowdown in revenue growth for Macau’s gaming industry in 2026, despite an expected increase in casino revenue. The agency attributes this to near-full hotel occupancy, limited new capacity, and softer consumption. EBITDA for rated operators is projected to rise by 5%, supported by stable premium mass demand. Market dynamics are shifting, with Sands China and Melco Resorts gaining ground in the mass market, while MGM is expected to maintain its position. However, cash flow will remain under pressure due to heavy capital spending and shareholder payouts. Parent companies like MGM Resorts and Wynn Resorts are investing in projects outside Macau, potentially impacting discretionary cash flow. The sector is described as transitioning from a rebound phase to a more maturity-driven cycle.

Hokkaido governor calls for investigation into Japan’s first integrated resort approval process

Hokkaido Governor Questions Approval of Osaka for Integrated Resort in Japan

Hokkaido Governor Naomichi Suzuki has raised concerns about why only Osaka was approved to host an integrated resort with a casino in Japan’s first application cycle. Despite initially showing interest in the process, Hokkaido withdrew before applications opened in late 2019. Suzuki has called for an investigation into the approval process, noting that other regions did not apply or were not approved. Hokkaido is now preparing for the 2027 round of applications, emphasizing the need for integrated resorts in local areas to differ from those in major cities. An expert panel has been formed to provide guidance on Hokkaido’s approach to integrated resorts, focusing on defining the appropriate size and functions for local areas.

Welcome to the most recent installment of our Focus Gaming News Weekend Conversation Corner, where we provide a brief overview of the week’s top headlines that have captured global interest….