Philippines

Berjaya Philippines, whose subsidiary BGMC leases online lottery equipment and provides gaming software support, has reported first quarter revenues of 6.5 billion PSP ($1,462 million) up 8.7 percent on the same quarter the previous year.

Sinophil Corporation (SINO), which has interests in resorts, casinos, hotels, horseracing, and landholding operations has received approval from the Philippines Stock Exchange to change its name to Premium Leisure Corp (PLC).
It will trade under its new name and symbol from Wednesday Sept. 17th. PLC will have a market capitalization of 12.8PHP ($290 million).

Sinophil Corporation (SINO), which has interests in resorts, casinos, hotels, horseracing, and landholding operations has received approval from the Philippines Stock Exchange to change its name to Premium Leisure Corp (PLC).
It will trade under its new name and symbol from Wednesday Sept. 17th. PLC will have a market capitalization of 12.8PHP ($290 million).

A senator is pushing for an inquiry into allegations of collusion between the Philippine Amusement and Gaming Corp. (Pagcor), the government’s gambling regulator and operator, and four casinos after Pagcor made an arrangement which seemingly means the casinos pay less tax.
Pagcor has introduced a measure that apparently lowers licensee fees paid by four casino operators in Entertainment City in Manila by 10 percent.

A senator is pushing for an inquiry into allegations of collusion between the Philippine Amusement and Gaming Corp. (Pagcor), the government’s gambling regulator and operator, and four casinos after Pagcor made an arrangement which seemingly means the casinos pay less tax.

Belle Corp says it hasn’t finalized any details on a potential sell down of its stake in its Sinophil unit, which was spun off from the company earlier this year and now holds all the group’s gaming assets.

Belle Corp says it hasn’t finalized any details on a potential sell down of its stake in its Sinophil unit, which was spun off from the company earlier this year and now holds all the group’s gaming assets.

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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Belle Corp has begun the pre-marketing for the sale of a stake worth about $200 million in its separately traded Sinophil unit to expand its investor base, according to Reuters.
Reuters cited IFR, a publication in the same group, as saying book-building was likely to start on Sept. 22.
Belle was spun off into a separate unit earlier this year to hold the group’s gaming assets. The company has already said that it plans to sell down some of its stake.

Century Properties is seeking to mend ties with former partner Universal Entertainment Group over a deal to develop a $2 billion casino resort in Manila’s Entertainment City, according to media reports.
Universal, owned by Japanese billionaire Kazuo Okada, in March ended an accord that would have allowed Century to develop the real estate side of the project. Century took legal action and in July secured a court order preventing Universal from terminating the partnership.

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