Hong Kong

Gambling participation and the prevalence of gambling disorders among Hong Kong people have been on the decline, according to a study commissioned by the Ping Wo Fund.

Rexlot Holdings said it will raise about HK$600 million in net proceeds from a share subscription accord and convertible bond issue.

The proceeds from the transaction will be used to repay the company’s existing loans and for general working capital, the company, which is involved in the lottery industry in China, said in a release to the Hong Kong Stock Exchange.

Hong Kong’s gamblers spend more in the casino ships that leave the territory for international waters than they do in Macau’s casinos, a government survey found.

Genting Hong Kong reported a 39.1 percent gain in cruise ship related activities in 2016, but it swung to a loss on higher costs and as one-time gains last year weren’t repeated.

China Star Entertainment said it expects to post a loss in 2016 due to the downturn in service income from its gaming operations in Macau as well as a loss incurred on new film releases.

Hong Kong-listed Success Dragon International Holdings on Thursday announced the resignation of its chairman and chief executive officer Mr. Carlos Luis Salas Porras, effective March 3, 2017.

The Macau government says it is “exploring further cooperation opportunities” in regards to tourism with Hong Kong, according to a report from the government news bureau.

The bridge connecting Hong Kong, Zhuhai and Macau is expected to complete by the end of 2017, said Hong Kong’s Secretary for Transport and Housing.

Genting Hong Kong Ltd. says it expects to record a consolidated net loss of US$500-550 million for the year ended Dec. 31, 2016, according to a filing on Monday.

Casino investor Landing International Development Ltd. is proposing to implement a ‘capital reorganization’, which will entail a capital reduction as well as a subdivision of the unissued share capital of the company.

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