France’s ANJ targets responsible gambling with fresh legislative proposals

In the latest development in the Aussie pub feud, Tabcorp, a key player in the betting industry, has announced a strategic alliance with Laundy Hotels to safeguard its retail monopoly and counter the pressure from competitors like Entain. The agreement includes a commitment from Tabcorp to upgrade its facilities within Laundy Hotels' venues.

In response to the escalating competition from Entain, which has been expanding its presence in pubs through exclusive partnerships, Tabcorp has taken measures to strengthen its market position. The collaboration with Laundy Hotels, owned by billionaire publican Arthur Laundy and family, signifies a move by Tabcorp to preserve its monopoly and enhance customer engagement.

Under the exclusive deal, all Laundy Hotels will witness a transformation in their Tabcorp facilities, coupled with personalized customer offerings tailored to each venue. This partnership is part of Tabcorp's broader initiative to revamp its retail experience, aiming to create iconic TAB customer experiences and drive business acceleration in collaboration with Laundy Hotels.

Brenden Varcoe, Tabcorp's general manager of racing industry and venues, expressed enthusiasm about the partnership, citing it as a vote of confidence in Tabcorp's retail transformation efforts. With a focus on innovation and customer-centric enhancements, he said, Tabcorp aims to deliver state-of-the-art wagering experiences across Laundy Hotels' portfolio, integrating digital advancements and exclusive offers to elevate the overall customer journey.

Arthur Laundy emphasized the significance of the longstanding partnership with Tabcorp, highlighting the importance of providing top-notch service and fostering social environments within their establishments. The collaboration underscores a shared commitment to customer satisfaction and commercial growth in the wagering sector.

This strategic alliance with Laundy Hotels follows a similar successful partnership with Iris Capital, reflecting Tabcorp's dedication to enhancing on-premise experiences and driving mutual growth within the industry. Tabcorp has an exclusive retail betting license in New South Wales until 2033. As from August 2024, Tabcorp will exclusively operate for 20 years until 2043.

Abu Dhabi's popular raffle draw, Big Ticket, will return to action following a, with the next live draw scheduled for June 3. This comes after UAE lottery providers like Mahzooz and Emirates Draw had been ordered to suspend their operations starting January 1, 2024. Both Mahzooz and Emirates Draw had complied with the regulatory directive from the GCGRA, both taking to social media, describing the pause as an industry-wide mandate consistent with the Regulators’ new role to create a well-regulated gaming environment in the United Arab Emirates.

During the operational pause, Big Ticket was in a position to evaluate its readiness to align with the evolving regulatory framework established by the GCGRA, aimed at ensuring a secure and regulated commercial gaming sector in the country.

With over thirty years of operation, Big Ticket has been a favourite among UAE residents, bringing hope for some and an integral part of life for others. The practice of pooling resources among expats to purchase tickets collectively has been a common phenomenon, with groups ranging from 4 to 40 individuals participating. In an effort to reinvigorate interest, Big Ticket is offering participants a chance to win a guaranteed sum of Dh10 million for the upcoming draw in June, with a buy 2 get 3 promotion on tickets.

The regulatory landscape in the UAE is undergoing a transformation, as the government moves towards a consolidated approach with only one national lottery operator authorized by the GCGRA. While Mahzooz and Emirates Draw have completed their license applications for the national lottery, the question of whether Big Ticket will assume this role exclusively or if other operators will be permitted to coexist remains unanswered.

The recent suspension of lottery operations highlights a notable shift in the UAE's stance on gambling, traditionally prohibited by local laws. The new licensing framework and the establishment of the GCGRA indicate a strategic move towards regulating the gaming industry, underlining the government's commitment to a structured and controlled gaming environment.

Suntrust Resort Holdings, controlled by LET Group Holdings (formerly Suncity Group Holdings), disclosed a loss of PHP256.1 million (€4.11 million) for the first quarter of 2024, marking a significant downturn from the PHP92.6 million (€1.48 million) profit recorded in the same period of last year. The attributed the loss to a sharp increase in operating expenses, tax expenses, and finance costs, coupled with a substantial decline in revenue and income. 

Operating expenses surged by 95 percent, escalating from PHP69 million (€1.1 million) in the first quarter of 2023 to PHP135.4 million (€2.17 million) in the same period this year, as indicated in the company's filings with the Hong Kong Stock Exchange and the Philippines Stock Exchange.

The loss per share amounted to PHP0.0353, in stark contrast to earnings per share of PHP0.0128 reported in the corresponding quarter of the previous year, reflecting the company's challenging financial performance.

Total revenue and income plummeted to PHP3,226 (€51.81) in 1Q24, primarily attributed to foreign exchange gains. 

Despite the financial setback, Suntrust Resort Holdings continues to advance its Westside City Project integrated resort in Manila. The project's main components include an entertainment complex and a five-star hotel boasting over 450 rooms. Additionally, the company is spearheading the development of the Westside shopping mall, an opera house, and a 2,000-room hotel complex.

Last week, the closing date for securing funding of up to PHP13.51 billion (€219.2 million) for the Westside City project has been pushed back by 12 months. The revised date is now set for April 30, 2025. 

The company anticipates the opening of the Main Hotel and Casino segment of the Philippines Westside City Project in the first quarter of 2025, signalling its commitment to realizing the project's long-term vision amidst current financial challenges. 

Genting Singapore achieved remarkable growth in the first quarter of 2024, recording revenue of SG$784.4 million (€538.5 million) and adjusted EBITDA of SG$369.5 million (€253.4 million). These figures represent a substantial increase of 62 percent in revenue and 93 percent in adjusted EBITDA compared to the same period last year.  

The company's gaming revenue surged by 69 percent annually to SG$576 million (€395.1 million) in the first quarter, with a notable quarter-over-quarter improvement of 31 percent.  attributes this growth to enhanced visitation and tourism spend during the Chinese New Year festivities, coupled with relaxed visa regulations between China and Singapore.  

The mutual visa-free agreement between China and Singapore, implemented in February 2024, contributed to a significant increase in visitor arrivals to Singapore. Chinese tourists have emerged as a key source market, bolstering Genting Singapore's integrated resort, Resorts World Sentosa.  

This turnout was experienced even if the company earlier  the potential changes in Chinese tourist behaviour prompted by the Chinese government’s warnings to avoid gambling.  

Genting Singapore provided updates on its revitalization initiatives, confirming that construction for the new Minion Land, Singapore Oceanarium, and Central Lifestyle Connector remains on schedule for phased openings starting from the first quarter of 2025. Moreover, the company expects to award the tender for the new Waterfront development, featuring two hotels totalling 700 rooms, in the third quarter of 2024, with on-site works slated to commence by the fourth quarter of the same year.  

Meanwhile, the former Hard Rock Hotel, which closed in March 2024, is undergoing extensive renovation and is scheduled to reopen as a new all-suite luxury hotel in early 2025. This strategic refurbishment aligns with Genting Singapore's commitment to providing exceptional hospitality experiences and further enhancing its offerings within the integrated resort landscape.  

Genting Singapore is the owner of Resorts World Sentosa, one of the largest integrated resort destinations in Asia. Resorts World Sentosa offers a casino, S.E.A. Aquarium, Adventure Cove Waterpark, Universal Studios Singapore theme park, hotels, MICE facilities, celebrity chef restaurants and specialty retail outlets.