Industry
December 16, 2021
Junkets to Survive Without Chinese Gamblers, Asserts Expert
Davis Fong, a gaming professor and former lawmaker in Macau, believes that junket operators in the city can survive and thrive. All they need to do is redirect their attention away from mainland Chinese customers to Hong Kong and Southeast Asia, IAG reports as it cites Fong and his outlook for the industry in the […]
Casino
December 15, 2021
New Philippines Casino Launching Today in Clark Freeport Zone
Hann Casino Resort in the Clark Freeport Zone, Philippines is opening its doors today, according to an announcement by its developer, Hann Philippines Inc. This new plan involves the expansion and rebranding of the former Widus Hotel & Casino complex through an investment of $238.3 million by Hann Philippines. Clark Continues to Expand In addition […]
Industry
December 15, 2021
Analysts Lower New-Year Outlook for Macau by 30%
Morgan Stanley is now less optimistic about Macau’s continued strengthening in 2022. As a result, the financial firm’s analysts have reduced the expected gross gaming revenue (GGR) for the city by 30% to $15 billion. Macau Has a Long Road Ahead Although the institution noted a “choppy recovery,” it said that there are still “overhangs” […]
Industry
December 14, 2021
Macau GGR Slips, Operators Try to Shrug Off Problems
The gross gaming revenue (GGR) in Macau fell by 12% week-on-week. This was due to an increase in the COVID-19 infection rates in mainland China, as well as a collapse of the local VIP sector following Suncity Group’s troubles. Macau GGR Still Unstable The weekly GGR update by Bernstein analysts Vitaly Umansky and Kelsey Zhu […]
Business
December 13, 2021
Suncity May See Ownership Change as Creditors Come Calling
Suncity Group of Hong Kong, listed on the Hong Kong Stock Exchange, has indicated a possible change in control could be coming. The group holds interests and assets in integrated resort developments throughout Macau, Vietnam, Russia and the Philippines. However, the arrest of its former CEO, Alvin Chau, has virtually flipped the company upside down. […]
Casino
December 10, 2021
Malaysia Apprehends Five Gambling Syndicate Members in Raid
While many countries around the world still may lack a clear-cut way of regulating their gambling industries, the majority is unequivocal when it comes to enforcing the law in the case of illegal gambling. Malaysia is one such place where underhand operators are not treated kindly by authorities. In a recent ride in Taman Ungku […]
Business
December 10, 2021
Suncity Group Financial Situation Worsens as Trading Halted Again
Due to concerns about a possible default on a loan, both Hong Kong’s Suncity Group Holdings and Summit Ascent Holdings, a majority-owned subsidiary, were placed under a trading halt. The suspension came as the two companies announced the pending release of information that could hinder its future. Suncity Struggles to Find Solid Ground Trading in […]
Industry
December 10, 2021
Border Restrictions Easing Between Macau, Hong Kong and China
According to the South China Morning Post (SCMP), Beijing has given final approval for dropping its hard border with Hong Kong. This allows fully vaccinated Hong Kong residents to travel without quarantine to Guangdong Province or Macau. New Travel Rules Coming Soon After Hong Kong’s legislative elections on December 19, the scheme will go into […]
Business
December 9, 2021
Okada Manila IR Operator Changed Name Ahead of NASDAQ Listing
The global trend of rebranding did not pass by integrated casino resort operators after Okada Manila International, Inc., owner of the largest integrated resort in the Philippines. Okada Manila, announced today a corporate name change to “UE Resorts International, Inc.” New Chapter, New Name The new business entity UE Resorts International will continue on the […]
Business
December 9, 2021
Vietnamese Online Gaming Brand Looks to Raise Cash, Launch US IPO
VNG Corp., a rapidly-growing Vietnamese online casino operator, seeks to raise as much as $300 million in investments. It is also reportedly eyeing a public launch of its shares on a US stock exchange. VNG Finds Rapid Growth Recently, reports surfaced that VNG is seeking to raise $200m to $300 million from GIC Pte., Singapore’s […]