Jennifer Song, equity analyst with Morningstar, speaks with Asia Gaming Brief managing editor Sharon Singleton about visitation to Macau during the recent Chinese New Year period and the outlook for recovery. The longer-than-usual May holiday may be a key catalyst for growth.
Paradise Co. has reported its fourth quarter and full year financial results for the year 2020, recording full year net losses on its controlling interest of KRW109.8 billion (US$97.8 million).
The last two of Macau’s operators released Q4 results on Thursday, with both returning to profit at the EBITDA-level and expressing confidence in the market recovery.
“A fool dies a thousand deaths; a wise man only one.” This common expression—a garbled version of something written by Shakespeare—might very well be applied to the prospect of IR development in Hokkaido. And indeed, the project has recently died yet another death.
Aristocrat Entertainment CEO Trevor Croker says the company plans to "significantly escalate" its focus on convergence products and has a strong enough balance sheet to support mergers and acquisitions in the sector.
Genting Malaysia reported positive adjusted EBITDA of RM350.3 million for 2020 despite seeing a 56 percent drop in revenue due to the Covid-19 pandemic.
Caesars' Entertainment CEO Tom Reeg responded to an analysts' question on the sale of its Korea venture by saying: "Korea has gone, we sold it for some barbecue pork. We sold it back to our partners and have no more commitment. We're out."
Caesars Entertainment posted a loss for Q4 of $555 million compared with a $13 million profit in the prior year, but said it has seen a pick up in demand in the New Year, especially at its regional properties.
Donaco International, the operators of casinos in Cambodia and Vietnam, said it had positive EBITDA of A$0.2 million in the first half of the fiscal year after the final three quarters of the year generated $2.7million. Revenue declined to $6.3 million from $40.9 million.
International Entertainment said it has hired various advisers to provide a legal opinion on the operation of casinos and gaming activities and to review the company's internal control policies in order to comply with a guidance letter from the Hong Kong Stock Exchange.
A Yokohama court dismissed an effort by anti-casino local residents to argue that the city government could not make use of the land at Yamashita Pier for IR construction.
For the first time since March last year, the China Online Visa Application system will open to foreign residents in Macau from next Monday.
Imperial Pacific International does not oppose having the Commonwealth Casino Commission suspend its casino gaming license, admitting its failure to pay the US$40 million Community Benefit Fund contribution in 2018 and 2019, and failing to pay the US$15.5 million annual casino license fee, as required by the Casino License Agreement. Meanwhile, it has been acknowledged that Ray N. Yumul is not yet legally recognized as IPI CEO in Saipan.
Poker machine revenue at the Canberra Labor Club fell by more than 28 percent year-on-year to A$17.4 million (US$13.7 million).
Melco Resorts Chairman and CEO Lawrence Ho told a conference call that he still sees Japan as “the best potential new gaming market globally.”
Australia-listed BetMakers Technology Group has announced the company’s results for the half-year ended December 31, 2020. In this six-month period, the firm’s revenues were A$7.59 million (US$6 million), up 88 percent, and EBITDA was A$0.04 million.
Melco Resorts & Entertainment said it had returned to positive EBITDA in Q4, although revenue was down 64 percent from the prior-year quarter.
All three segments of the Jin Bei Hotel as well as the Horng Gon Chea Yi Hotel in Sihanoukville have been closed down after two Chinese women were diagnosed with Covid-19.
Sportradar has entered a long-term data and audio-visual partnership with Australia’s professional semi-elite basketball league, NBL1. Sportradar will become the new partner to NBL1 for these services, taking over from an incumbent.
Pragmatic Play has appointed former Rank Digital Head of Gaming Product, Bhotesh Maheshwari, as its new Vice President of Commercial Strategy and Operations as the company looks to further cement its position as a top tier supplier in regulated markets.
500 .com said that it has entered into a definitive agreement with a subsidiary of BitDeer to purchase 1,923 S17 Bitcoin mining machines for a total consideration of RMB31.3 million (approximately US$4.9 million).
Thai police have shut down a network of online casinos in raids that took place across seven provinces, with nineteen suspects arrested and cash and other goods seized. In total, eight online casino networks have been shut down.
A draft law has been prepared by the Ministry of Finance of the Russian Federation that would create a system of self-exclusion from casinos for problem gamblers.
NOVOMATIC said it won the SAGSE award for the “Best Electronic Roulette” as well as the “Best Land-based Progressive”.
THE Philippine Amusement and Gaming Corporation (PAGCOR) has donated P123.6 million to the state-run Veterans Memorial Medical Center (VMMC) to bankroll a building project.
The Jeongseon Gambling Problem Recovery Center, the first gambling addiction rehabilitation institution in South Korea, will soon start operating in Jeongseon, Gangwon-do.
The first professional poker school in the Primorye has opened as part of the territory’s efforts to become host to international poker tournaments.
SkyCity Entertainment has announced that Richard Smyth, currently Deputy Chief Financial Officer, will become Acting Chief Financial Officer from February 27 to April 19.
Recent changes to Kazakhstan’s sports betting law are likely to fuel black market gambling and slash tax revenue for the government, experts say.
China’s threat to draw up a blacklist of countries targeting gambling is most likely directed at the online industry, though may be enough to deter some travellers even if the government doesn’t follow through with its action.
Through government action and a cultural norm of wearing face masks when ill, Cambodia has seen few get sick during the COVID-19 pandemic. According to the World Health Organization, Cambodia has 275 COVID cases and zero COVID-related deaths as of the last week of September.