Malaysia

Malaysian gaming machine maker RGB International is seeking to enter new markets around Asia and to expand its business outside of Manila in the Philippines, The Star newspaper said.
The company, previously known as Dreamgate Corp Bhd, recently entered the Democratic Republic of Timor-Leste through the acquisition of a 30 percent stake in Timor Holding, Lda. In the Philippines, it’s looking for growth in Cebu and Clark besides Manila.

Gaming suppliers from across the globe have set their sights on Asia, though one set seems to be pushing particularly hard to gain a foothold in the region, as companies from across Eastern Europe move aggressively to shore up stagnant growth at home. A recent report by UBS estimated that gross gaming revenue in Asia’s big five markets is likely to rise about 11 percent a year on a compound average basis to reach $98 billion in 2018, from $59 billion in 2013.

Gaming suppliers from across the globe have set their sights on Asia, though one set seems to be pushing particularly hard to gain a foothold in the region, as companies from across Eastern Europe move aggressively to shore up stagnant growth at home. A recent report by UBS estimated that gross gaming revenue in Asia’s big five markets is likely to rise about 11 percent a year on a compound average basis to reach $98 billion in 2018, from $59 billion in 2013.



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Malaysian gaming machine maker RGB International is seeking to enter new markets around Asia and to expand its business outside of Manila in the Philippines, The Star newspaper said.

Malaysian conglomerate Genting Bhd said Q2 pre-tax profit dropped 24 percent because of lower EBITDA at its leisure and hospitality businesses in Malaysia, the U.K., the U.S. and Bahamas.
Profit on that basis fell to RM931.0 million ($295.5 million) from RM1,226.1 million generated in 2Q13. Revenue from continuing operations rose 2 percent to RM4.41 billion.
The company said its Resorts World Sentosa property in Singapore saw higher revenue in the quarter, mainly due to a 9 percent gain in rolling volume and a higher win percentage from premium players.

Malaysian conglomerate Genting Bhd said Q2 pre-tax profit dropped 24 percent because of lower EBITDA at its leisure and hospitality businesses in Malaysia, the U.K., the U.S. and Bahamas.

Malaysian lottery operator Magnum Bhd said it expects the rest of the financial year to be “challenging,” as higher interest rates and the rising cost of living dampen consumer spending.
It also said aggressive discounting and the higher prize payout structure from illegal operators is also eating into its business.

Genting Bhd, the operator of Malaysia’s only casino, is unlikely to lose its monopoly despite ambitions by tycoon Vincent Tan to apply for a license for the Berjaya Hills Resort in Pahang, analysts have said

Genting Bhd, Malaysia’s only casino operator, is likely to see a drop in visitor numbers this year as the company spends RM5 billion ($1.6 billion) to revamp its 49-year-old Resorts World Genting.

Genting Bhd, Malaysia’s only casino operator, is likely to see a drop in visitor numbers this year as the company spends RM5 billion ($1.6 billion) to revamp its 49-year-old Resorts World Genting.

 



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Malaysian lottery firms have reportedly been forced to stop taking bets on numbers related to the Malaysian Airlines plane that was shot down over the Ukraine after the tickets were sold out, according to reports.
Punters had been betting on the combination of 1717 and 777 since Friday. Flight MH17, a Boeing 777, was downed on July 17 over Ukraine.
According to the report, Asian gamblers believe numbers associated with bad luck, such as car numbers at an accident site, will later bring good luck.

Malaysian property developer, Tan Sri Low Yow Chuan, has claimed he has the right of first refusal should Malaysia decide to allow a second gambling license in the country. Currently, Genting Bhd has the casino monopoly for its Resorts World Genting property. According to The Star newspaper, the license was granted in 1970 by Malaysia’s first Prime Minister Tunku Abdul Rahman to the 81-year-old patriarch of the Low Yat group and reaffirmed in 1993. The license was allegedly granted in return for building a 100 million ringgit resort ($322.5 million) on Langkawi island.

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