Macau Legend has reduced its losses in 2022 by 48% from the previous year, reaching HK$607.2 million ($77.35 million). However, the company is concerned about its debt, which could cast doubt on its ability to continue as a going concern. The group saw a drop in gaming revenue in Macau by 43.4% in 2022, primarily due to the expiration of the service agreement between Macau Legend and SJM. Macau Legend has applied for waivers for creditors, with the waivers valid until December 31st, and expects to apply for extensions or amend its loan repayment terms. The group is focused on upgrading dining and entertainment offerings at Macau Fisherman’s Wharf and is optimistic about seizing opportunities for recovery when the tourism industry rebounds.

The Massachusetts Gaming Commission has approved new sports betting advertising and marketing regulations that will come into force from April 14th. The regulations mandate sports betting firms to prevent individuals under 21 from being exposed to their advertising and marketing on social media and related TV platforms such as Hulu or YouTube TV. The rules also prohibit operators from paying spokespeople to encourage bettors to place a certain type or quantity of wager, and mandate that paid social media influencers and other endorsers disclose payments they receive from betting firms. Additionally, companies will not be allowed to enter into marketing agreements “in exchange for a percentage of net sports wagering revenue earned from users that the third party directs or causes to be directed to […]