Industry
September 9, 2022
Hong Kong Jockey Club Names Michael Lee as Chairman
The Hong Kong Jockey Club, a provider of horse racing, sporting and betting entertainment, has named Michael Lee and Eric Cheung as chairman and deputy chairman respectively. Lee will succeed Philip Chen who worked as chair for the last two years. Several New Members Join the Board Lee will serve as the club’s chairman for the […]
Casino
September 7, 2022
TRAL Regains Control Over Okada Manila Following PAGCOR Order
On September 2, Philippine Amusement and Gaming Corporation (PAGCOR) ordered the group led by Japanese billionaire Kazuo Okada to surrender the Okada Manila Casino Resort back to The Tiger Resort Asia Limited (TRAL), the legal owner of the casino’s operator Tiger Resort, Leisure and Entertainment Inc (TRLEI). TRAL Regains Control Over Okada Manila Following an […]
Industry
September 6, 2022
Macau Continues to Fall Behind as Casino Suppliers Relocate
China’s Covid Zero policy continues to hamper Macau’s post-pandemic recovery. The special administrative region’s gambling market continues to show subpar financial results, and experts are not optimistic about its prospects. This uncertainty has prompted several key casino suppliers to jump ship and relocate to Singapore and the Philippines, where operators have recorded substantially better growth. […]
Industry
September 6, 2022
Bernstein Is Skeptical about Macau’s Recovery
Finance expert Bernstein has once again commented on the situation of Macau’s gambling market. This time, the firm’s analysts discussed the special administrative region’s slight daily revenue growth. Umansky and Yang Don’t Buy the Optimism Vitaly Umansky and Shirley Yang, two finance experts at Bernstein, explained that during September’s first four days, Macau’s gross gaming […]
Casino
September 6, 2022
Japan Casino Commission Seeks More Cash from Government
The Japan Casino Regulatory Commission may be running short of cash, so much, that it seems that the regulator needs the central government to pitch in so the watchdog may carry on. The Commission was established back in 2018 under the late then-Prime Minister Shinzo Abe who was an outspoken proponent of the integrated resort […]
Legal
September 6, 2022
China’s Thai Embassy Warns Nationals Not to Participate in Illegal Gambling
China continues to project regional dominance in matters that involve its citizens who travel to neighboring countries to gamble. On Monday, the Chinese Embassy in Thailand said that it had received pleas from Chinese nationals who were involved in cross-border gambling and who had, as a result, suffered property and safety damages. China Continues to […]
Casino
September 5, 2022
PLC Reports 47% Revenue Increase in H1 2022
Premium Leisure Corp (PLC), an investment holding company that participates in gaming-related businesses, has posted its financial results for the first half of 2022. The results demonstrate a strong post-COVID recovery and show the company’s strengths. PLC Recorded Improved Revenues As reported by PLC, the company earned around $14.69 million (current conversion rates) for the […]
Casino
September 2, 2022
Morgan Stanley Weighs in on How New Macau Limits Impact Business
This year has been very important for the gambling industry in Macau. It’s been two years since the country basically closed its borders to outsiders, and lockdowns during the height of the pandemic meant businesses were severely crippled. As part of its preparations to recover, Macau has made some significant changes in its legislation, which […]
Industry
September 1, 2022
New PAGCOR Chief Suggests Privatization of State-Owned Casinos
The new CEO and chairman of the Philippine Amusement and Gaming Corporation (PAGCOR), Alejandro Tengco, has suggested that he will be considering the privatization of the state-owned casinos in the Philippines. New PAGCOR Chief Voices Ideas Regarding Casino Privatization The freshly appointed PAGCOR head, Tengco, has made comments that PAGCOR will reconsider its current function […]
Poker
August 31, 2022
Asian Poker Tour Elects Fred Leung as Chief Executive
Asian Poker Tour, the premier poker tour in Asia, has reinforced its leadership team with a new addition. The event organizer named the experienced Fred Leung, former PokerStars exec, as its new chief executive officer. APT Names Leung as CEO Leung is no stranger to poker. The experienced executive has spent over a decade with […]
