Business
January 7, 2021
Snow Lake Capital Urged MGM Resorts to Sell 20% in MGM China
MGM Resorts would achieve synergies and ensure a retendering of the MGM China concession in Macau if it sells a 20% stake from its Chinese subsidiary to a strategic partner from the internet or travel and leisure industries in China, Sean Ma, Founder and CEO of Snow Lake Capital investment fund wrote in a letter […]
Casino
January 7, 2021
Trump’s Executive Order Could Harm US Casinos in Macau
President Trump’s executive ban on several Chinese apps could have big implications for US Companies in China, Macau and Taiwan. Executive Ban on Chinese Apps US President Donald Trump’s recent executive order to ban several high-profile Chinese apps may spell trouble for Macau’s three US casino operators. Macau is one of the gambling capitals of […]
Casino
January 6, 2021
Nagasaki Gets Three More Entries for RFP and IR Bids
Ahead of its Request for Proposal (RFP) due to begin January 7, Nagasaki has received three more anonymous bids for the completion of an integrated resort (IR) project in the prefecture. Nagasaki Receives Three More Entries ahead of RFP Process As Japan’s national government pushes towards a legalized framework for its upcoming integrated resorts (IR), […]
Casino
January 5, 2021
Casinos in Seoul Will Remain Closed for Two More Weeks
The extension of the Seoul social distancing measures until January 17 was announced on Saturday. The measures require people in Seoul to maintain Level 2.5 distancing which is stricter than the one for the rest of the country, which will remain on Level 2. Level 2.5 Restrictions in Seoul until 17 January Level 2.5 means […]
Business
January 4, 2021
SJM Employees to Receive Living Subsidy Payment on January 6
SJM Holdings Limited revealed that some of its employees will be receiving a living subsidy bonus. The bonus payments will be done in two equal installments this month and in July. Eligible SJM Employees to Receive Living Subsidy Bonus SJM Holdings Limited, which is the holding company of Sociedade de Jogos de Macau, S.A. (“SJM”) […]
Casino
January 4, 2021
Yokohama City Mayor Skeptical of Referendum on Integrated Resort
Yokohama city mayor has expressed skepticism whether it should be residents deciding on the implementation of a casino resort, citing City Council’s efforts over the last months as the reason why. Referendum Expensive and Unnecessary, Says Hayashi Yokohama city mayor Fumiko Hayashi is not too convinced that a referendum on the development of an integrated […]
Casino
January 4, 2021
PAGCOR Pays $354m in 2020 to Help with Covid-19 Relief Efforts
PAGCOR contributed $354 million to the Bureau of the Treasury in a bid to bolster Covid-19 relief efforts in 2020. PAGCOR Continues to Help in Covid-19 Relief Efforts The Philippines gaming regulator (PAGCOR) has played a key role in offsetting the economic impact the Covid-19 pandemic has inflicted on the country, remitting an estimated $354 […]
Business
January 3, 2021
Rich Goldman Commences Junket Operations in the Philippines
Rich Goldman Holdings announced in a filing to the Hong Kong Exchanges and Clearing (HKEX) December 30, 2020, it signed a profit share agreement with the joint venture partner to commence junket business at Solaire Resort & Casino in Manila. Junket Operations Cleared to Commence The signed profit share agreement between the former Macau junket […]
Business
January 3, 2021
Century Entertainment Reduces Debt via Capital Reorganization
Bermuda-based gaming investor Century Entertainment International Holdings announced in a filing to the Hong Kong Exchanges and Clearing (HKEX) and the Stock Exchange of Hong Kong (SEHK) December 30, 2020 a capital reorganization plan. 4-Step Capital Reorganization The Board of Century Entertainment proposed the company’s shareholders to approve a capital reorganization plan which consists of […]
Casino
January 2, 2021
Macau December Revenue Completed the Worst Year on Record
The casino industry in Macau registered in December another month to forget, to complete the worst year on record, the Monthly Gross Revenue from Games of Fortune report released by the Gaming Inspection & Coordination Bureau revealed. December YoY Decline Less than in November Casinos in the Special Administrative Region (SAR) of China showed little […]