The controlling shareholder of Philippine Stock Exchange-listed Suntrust Resort Holdings, LET Group Holdings, has confirmed that there is no delay with its Manila hotel and casino project, scheduled to open in 2024.

Suncity Group Holding said it has requested its stock resume trading on the Hong Kong Stock Exchange on Thursday pending a decision on whether it needs to make an offer for all outstanding stock not owned by executive director Andrew Lo and other directors.

LET Group Holdings Limited announced the appointment of three new independent non-executive directors with auditing and accounting experience, as its Hong Kong trading suspension has been lifted.

The closing date for a deal to secure funding of up to $235.2 million for a casino hotel project at Westside City in Manila has been postponed by 12 months, now scheduled for April 30th, 2025.

All is sunny down under, well at least for a certain operator. Crown Resorts appears to have come out on top amongst the sharp crackdown on land-based casinos in the nation. Its success in its remediation efforts now place it at an advantage to the competition, who continue to struggle with authorities, notes an expert.

A new multi-entry visa for Chinese nationals on package tours is set to be implemented for travel between Macau and neighboring Hengqin on May 6th, allowing more fluid tourism passage between the regions.

Hong Kong may continue to serve as one of Macau’s leading source markets, despite undergoing continuous reshaping of its consumer market, with minimal impacts on GGR.

Brokerage Morgan Stanley is revising down its estimates for Sands China, now predicting that the company will garner EBITDA of some $2.4 billion for 2024, down 8 percent compared to previous estimates.

Philippines gaming operator Suntrust Resort Holdings has secured a $38 million loan from LET Group to ‘fund project costs and the construction of its Westside City Project hotel and casino.

Helena de Senna Fernandes, Head of the Macao Government Tourism Office (MGTO), projects that Macau may receive an average of 150,000 inbound tourists per day during the Labor Day Golden Week. The projection surpasses the numbers seen during the Cheng Ming and Easter holidays.