Weekend Conversation Corner – May, 22

Welcome to the newest installment of our Focus Gaming News Weekend Conversation Corner, where we delve into the week’s most important headlines that have captured global interest. As we break down the flurry of events into a concise and focused summary, we will discuss the key stories that have impacted the narrative, influenced policies, and sparked conversations. Join us as we cut through the noise and provide a condensed overview of the week’s significant developments, keeping you informed on what truly counts in today’s ever-changing world.

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

Genting Malaysia reports Q1 loss as borrowing costs climb

Genting Malaysia Bhd reported a net loss of MYR25.2m in the first quarter of 2026, with profit before tax dropping by 77%. Despite a 10% increase in revenue to MYR2.87bn, rising finance costs impacted the company’s financial performance. The expansion of Resorts World New York City contributed to increased borrowing costs. Genting’s US and Bahamas segment saw a revenue rise of 39%, but segment EBITDA dropped by 32%. In Malaysia, revenue increased by 3%, but adjusted EBITDA decreased by 1% due to higher payroll costs. Geopolitical tensions and economic uncertainty may affect tourism demand in the short term, but Genting Malaysia remains optimistic about its long-term prospects.

New Zealand’s online gambling market surpasses US$750m

New Zealand’s Department of Internal Affairs reported a significant increase in online casino spending, reaching NZ$1.36bn per year as the country moves towards a regulated igaming market. The Online Casino Gambling Act 2026 has come into effect, with monthly spending exceeding NZ$100m since March 2024. The market has an estimated 360,000 active customers as of September 2025. Dedicated online casino operators saw a 38% increase in spending, while sports betting declined by 37%. The top 15 operators accounted for over 82% of online gambling spend. A three-stage licensing process will allow up to 15 online casino licenses to be auctioned before the regulated market launches on December 1, with only licensed operators permitted to offer services from June 2027. Trina Lowry, programme director for Online Gambling Implementation at the DIA, noted the market’s expansion in breadth and depth.

Citigroup maintains Macau GGR forecast

Citigroup maintains its forecast for Macau’s May gross gaming revenue at MOP22.5bn, with a 6% year-on-year increase. Daily GGR must reach MOP704m for the rest of the month to meet the target. Data shows GGR was MOP12.65bn in the first 17 days of May, with daily revenue averaging MOP693m in the last week. Despite a decline from the Labour Day holiday period, revenue is still 1% higher than last year. Events like concerts and sporting programs by major operators are expected to boost gaming revenue, including the IVE concert at Sands China’s Venetian Arena and an EXO concert and UFC Fight Night at Galaxy Entertainment’s Galaxy Arena. To meet the full-month target, daily GGR needs to reach MOP704m.

Moody’s downgrades SJM Holdings and revises outlook

Moody’s Ratings has downgraded SJM Holdings’ corporate family rating from Ba3 to B1, with a stable outlook. The agency expects gradual earnings growth and improved leverage, driven by contributions from Casino L’Arc and table reallocations. SJM’s adjusted debt-to-EBITDA ratio is projected to improve, with EBITDA expected to increase over the next few years. Despite the downgrade, Moody’s considers SJM’s liquidity position as good, with sufficient cash holdings and credit facilities to cover capital expenditure and debt maturities. Earnings at Grand Lisboa Palace and Grand Lisboa are expected to remain subdued. The downgrade also affected the senior unsecured ratings on bonds issued by Champion Path Holdings Limited and SJM International Limited.

Philippine GGR down 16% in Q1

PAGCOR reported a gross gaming revenue of US$1.42bn for the first quarter of 2026 in the Philippines. This marked a 15.8% decrease from the previous year, mainly due to a decline in the electronic gaming sector. Licensed casinos contributed the most to revenue, followed by the electronic gaming sector and PAGCOR-operated casinos. Chairman and CEO Alejandro H. Tengco attributed the decline to softer discretionary spending and geopolitical tensions. Despite the challenges, Tengco remains optimistic about the industry’s future, citing investments in integrated resorts and responsible gaming. PAGCOR’s dividend remittance of US$92m aims to support the government’s efforts in addressing economic challenges.

Welcome to the newest installment of our Focus Gaming News Weekend Conversation Corner, where we delve into the week’s most important headlines that have captured global interest. As we break down the flurry of events into a concise and focused summary, we will discuss the key stories that have impacted the narrative, influenced policies, and…