Latest survey: insights into Sweden’s iGaming industry

(SGHC), the company behind and Spin casinos, announced on 27 June 2024 that they will start paying cash dividends to their shareholders. 

The company plans to pay at least $0.10 per share on 17 July 2024. To qualify for this first distribution, shareholders must have held stock as of the close of business on 8 July. 

“Declaring a dividend shows our confidence in the company and our ongoing strength. We are especially pleased to be able to return capital to our shareholders, while looking to maintain our opportunities for growth.” - Super Group's CEO Neal Menashe.

Super Group committed to shareholder returns by pledging a minimum annual dividend of $0.10 per share from this year forward. However, the board of directors may approve higher payouts based on the company’s performance. This approach allows Super Group to balance rewarding shareholders and allocating resources for other strategic growth activities.  

Super Group is actively considering an upgrade to its dividend programme. The company is evaluating the transition to a quarterly dividend structure by the beginning of 2025 (subject to final board approval). This potential shift would allow investors to receive dividend payments four times a year, significantly increasing the frequency of payouts.  

A move to quarterly dividends could significantly enhance the attractiveness of Super Group stock, particularly for income-oriented investors seeking a steady flow of returns. This potential change emphasises Super Group’s long-term commitment to maximising shareholder value and confidence in generating consistent profitability.  

The launch of this dividend programme shows a significant event for Super Group. This strategic decision strengthens investor relations by demonstrating a commitment to sharing the company’s success with their shareholders. Additionally, the potential shift to quarterly payouts could attract new stakeholders to participate in Super Group’s ongoing growth. Overall, this announcement marks a positive development for Super Group and their stakeholders. 

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Macau's gross gaming revenue (GGR) for June dropped to MOP17.7 billion (€2 billion), marking a 12.4 percent decline from May's MOP20.19 billion (€2.34 billion), according to the Gaming Inspection and Coordination Bureau (DICJ). This represents the lowest monthly total since November 2023.  

Despite the month-on-month decrease, June's GGR reflected a 16.4 percent increase from the same period last year. However, it is still significantly lower than pre-pandemic levels, showing a 25.7 percent decrease from the MOP23.8 billion (€2.76 billion) reported in June 2019.  

In the first half of 2024, Macau's casino GGR reached MOP113.8 billion (€13.20 billion), a 41.9 percent increase compared to the previous year. However, this figure remains 23.9 percent below the MOP149.50 billion (€17.35 billion) recorded during the same period in 2019.  

Analysts attribute the decline in June's GGR to several factors, including the seasonal post- “May Day” holiday slowdown and the impact of the UEFA Euro 2024 football tournament. Additionally, a low VIP win rate in Macau's casinos contributed to the lower revenue.  

Meanwhile, in June, brokerage firm CLSA its GGR forecast for Macau to MOP239.9 billion (€27.8 billion) in 2024.  

June only had the Dragon Boat Festival on June 10th as a public holiday, insufficient to sustain higher gaming revenues. Investment banks have also pointed out that the ongoing Euro 2024 matches influenced the decrease in gaming activities.   

Last week, Macau’s set a goal to attract 33 million visitors in 2024, marking a nearly 17 percent increase from 2023. Helena de Senna Fernandes, Head of the Macao Government Tourism Office (MGTO), said this optimistic projection is driven by China’s expansion of the Individual Visit Scheme (IVS), which now includes 10 additional Chinese cities.  

While Macau's GGR shows signs of recovery from the COVID-19 pandemic, the monthly fluctuations highlight ongoing challenges. The significant year-on-year increase is a positive indicator, but the revenue is still below pre-pandemic levels, underscoring the need for continued monitoring of market conditions and external factors. 

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Australian gaming giant, , has announced the opening of its latest venture, The Star Brisbane, commencing on August 29. This much-anticipated unveiling is part of the expansive Queen’s Wharf Brisbane project, a collaboration with Hong Kong-listed conglomerates Far East Consortium and Chow Tai Fook. The total investment for this project is approximately AUD3.6 billion (€2.23 billion), with various segments set to debut throughout the remainder of 2024.  

The initial phase of The Star Brisbane includes the opening of the Sky Deck, Miller Park, and the Neville Bonner Bridge, which will link Queen’s Wharf to Southbank. Additionally, the complex will feature an Event Center and the five-star Star Grand hotel, with bookings opening soon. CEO Daniel Finch emphasised that not all facilities will be operational from day one, promising guests a series of new experiences with each visit as more features become available over time.  

The Star Brisbane's phased opening strategy ensures thorough preparation and testing of its facilities. Finch stated the company want to ensure team members are prepared, facilities have been tested, processes are right, and guests have an exceptional experience.   

Queen’s Wharf Brisbane represents a significant joint venture, designed to rejuvenate the previously underutilized 12 hectares along Brisbane’s riverfront. The development will progressively introduce a mix of restaurants, bars, public spaces, and other attractions. The project has faced multiple delays but is now set to open from late August into September and beyond progressively.  

The Star Brisbane is authorised to operate up to 2,500 gaming machines, although the exact number available at launch will be determined by the casino operator. The number of table games will also be regulated based on the approved gaming floor area. Meanwhile, the existing Treasury Casino in Brisbane’s central business district will remain operational during the transition period before relocating to the new complex.  

The Star Entertainment Group has navigated significant regulatory challenges, including an inquiry into its suitability to operate its Sydney casino and penalties related to anti-money laundering and counter-terrorism financing failings. Despite these issues, the Queensland authorities recently affirmed that Hong Kong-based Chow Tai Fook Enterprises, a 25 percent investor in the Queen’s Wharf Brisbane project, is suitable for the partnership.  

Meanwhile, the Star Entertainment Group lower sequential revenue for the quarter ending June 30, attributed to declining premium customer revenue, a sluggish economic environment, and ongoing remediation expenses. The group projects its fiscal year revenue to range between AUD1.11 billion (€687.9 million) and AUD1.12 billion (€694 million). Despite these financial challenges, the opening of The Star Brisbane is expected to bolster the company’s portfolio and contribute to long-term growth.  

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The Philippine Amusement and Gaming Corporation (PAGCOR) revealed that a former high-ranking government official attempted to secure gaming licences for several illegal Philippine Offshore Gaming Operators (POGOs) that were recently raided. PAGCOR Chairman and CEO Alejandro Tengco stated that these activities and the involvement of the former official would be disclosed in a proper forum.  

Tengco the need to investigate the issuance of licences to POGO applicants with questionable backgrounds, facilitated by former officials and their intermediaries. He criticised the past administration for the excessive number of POGO licences granted, which has since been reduced from 298 to 43 under the current administration. 

“As a regulator, it is our mandate to ensure that only those with valid licences are allowed to operate all forms of gambling and gaming activities, whether these are land-based casinos or online platforms,” Tengco said in a statement. 

“It is in the interest of the government to crack the whip against illegal operators, including the so-called offshore gaming operators or POGOs and their backers, because the criminal activities associated with their illegal operations pose serious threats to our people,” he said. 

Two prominent POGOs, Zun Yuan Technology Inc. and Lucky South 99 Corp., were raided and shut down this year. Both companies are facing human trafficking charges. The operations against these companies were led by the Presidential Anti-Organized Crime Commission (PAOCC) with support from the Philippine National Police (PNP). 

Senator Sherwin Gatchalian, advocating for a total ban on POGOs, expressed surprise that PAGCOR officials had not previously mentioned the former Cabinet official's lobbying efforts in Senate hearings. He called for a thorough investigation and indicated plans to invite the mentioned former official to testify in upcoming hearings.  

hinted at possible connections involving former Presidential Spokesperson Harry Roque, whose name appeared in documents found at a raided POGO facility. Roque has denied any wrongdoing, stating his involvement was limited to legal representation for a related company. 

Senator Risa Hontiveros, leading the Senate committee on women, children, family relations, and gender equality, called on PAGCOR to address the criminal activities associated with POGOs, regardless of their licencing status. Both Gatchalian and Hontiveros stressed the need for stricter regulatory oversight to prevent further crimes linked to the industry. 

Despite the crackdown, PAGCOR due to their significant contribution to government revenues. In 2023, POGO companies generated PHP5.2 billion (€82.7 million) for the government, accounting for about 5-6 percent of PAGCOR’s total revenues. The Department of Finance reported a 127 percent increase in tax revenues from POGOs in 2022. 

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