Wednesday, May 29, 2024

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King Gaming’s license suspended amongst criminal investigation

Isle of Man licensed King Gaming has had its license suspended by the local Gambling Supervision Commission.

The Star sees $5.9M in profit for fiscal half-year, amongst inquiry woes

Australian gaming group The Star Entertainment has announced that it achieved some AU$9.1 million ($5.9 million) in profit after tax for its fiscal half year, amongst a “challenging regulatory environment”.

Approval granted for amendment to Goa GST Act

The government of Goa has given the ok to amend the local Goods and Services Tax Act to clarify the taxability of various forms of gambling.

Sands China designates Grant Chum as CEO and President amongst leadership revamp

Sands China has announced a series of changes to its leadership, with Grant Chum assuming the role of CEO of the company, as Robert Goldstein steps back from the role. Chum will also assume the role of President of Sands China, as Wilfred Wong is promoted to Executive Vice Chairman.

Delta Corp expects to recover in 2025 after GST setback

The CFO of India’s Delta Corp expects the company to return to its original revenue and profitability by the third quarter of FY25.

India unlikely to relieve 28% GST for the gaming industry

The Indian government stands firm on Goods and Services Tax (GST) issues related to the gaming industry.

Not horsing around: Macau Jockey Club admits to “always operating at a loss” amongst closure

After the announcement by the Macau government that the Macau Jockey Club was going to close doors, and that horse racing was effectively terminated in the SAR, the company has come forward to explain the decision, noting that they were "always operating at a loss", totaling some MOP2.5 billion ($310 million).

Grand Lisboa Palace ramp-up ‘still lagging’ – Morningstar

The ramp-up of SJM's new property Grand Lisboa Palace is still 'lagging market expectations', analysts from Morningstar pointed out in a dispatch.

Macau gaming operators highlight challenges of investment returns amongst changing environment

Macau's six gaming operators highlighted the challenges they're facing in achieving significant returns on their investments - particularly for non-gaming, as they follow-up on their pledges under their new gaming licenses and adapt to changing market conditions - while still aligning with demand.

Morningstar trims Melco Resorts revenue forecast for the coming years

US-based research firm Morningstar has lowered Melco Resorts' revenue forecasts for 2023-2025 by 5 to 10 percent and reduced adjusted EBITDA by 8 to 11 percent to 'reflect slightly weaker gaming volume and higher operating expenses amid keener competition in Macau.'