Monday, November 11, 2024

Adam Steinberg

Adam Steinberg
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LATEST NEWS

Lower VIP and higher bad debt factors in Genting Singapore’s “disappointing” 3Q24 results – Maybank

Genting Singapore's third-quarter earnings 'fell short of expectations' due to lower VIP gaming volumes and higher bad debts linked to Chinese players, Maybank research pointed out.

Macau non-gaming visitor per-capita spending falls 17% in 9-month period

Non-gaming visitor spending in Macau has seen a notable decline, with per-capita spending dropping by 17 percent from January to September 2024.

Philippines senator raises concerns over loopholes in POGO shutdown order

Philippines Senator Risa Hontiveros warned on Saturday that the recent order from President Ferdinand Marcos Jr. to shut down Philippine Offshore Gaming Operators (POGOs) may have significant loopholes.

Macau visitor arrivals surpass 30M on Sunday

According to the latest data from the Public Security Police, as of noon on Sunday, November 10th, the number of visitors to Macau this year has exceeded 30 million, surpassing last year's total of 28.25 million.

Sportradar profit expands significantly in 3Q24, with strong results across all segments

Global sports technology company Sportradar has further raised its FY24 outlook after seeing a significant increase in profits, driven by strong revenue and adjusted EBITDA rises in the third quarter.

Light & Wonder signs 7-year Platform as a Service deal with SkyCity

Gaming equipment and services provider Light & Wonder has inked a seven-year Platform as a Service (PaaS) systems deal with New Zealand and Australia gaming operator SkyCIty to ‘transform its casino floor and enhance player experience’.

Entain appoints Dafne Guisard as new Chief Operations Officer, effective January

Global sports betting and gaming group Entain has announced the appointment of Dafne Guisard as Chief Operations Officer, effective from January 13th, 2025.

Jumbo Interactive sees lottery revenue fall on ‘subdued jackpot environment’

Australia-based Jumbo Interactive has announced a revenue drop of 8.1 percent during the four months to October 31st, ‘mainly due to the subdued jackpot environment’.

Belle Corp sees gaming share from CoD Manila contract but leasing revenue increase

Belle Corp, the Philippine-listed parent company of Premium Leisure Corp (PLC) saw a 17 percent contraction in its share of gaming revenue from City of Dreams Manila during the first nine months of the year.

Genting Singapore reports sharp decline in net profit for 3Q24, citing slow recovery

Genting Singapore, the operator of Resorts World Sentosa (RWS) in Singapore, reported a net profit after tax of $59.8 million for the third quarter of FY2024, ending September 30th.

Macau predicts 400k visitors during four-day Grand Prix

Macau's tourism authorities predict that the four-day Macau Grand Prix will attract over 400,000 visitor arrivals, with hotel occupancy rates expected to exceed 90 percent during the event.

Delta Corp sees 24.4% Y-o-Y drop in revenue during 3Q24

Indian casino operator Delta Corp has experienced a sharp decline in revenue and net profits during the third quarter of 2024 compared to the same period last year, primarily due to a slowdown in gaming operations.

Casinos a significant boost for Thailand’s tourism – Agoda CEO

Thailand's steps towards legalizing gambling will greatly enhance foreign tourist arrivals, according to Omri Morgenshtern, CEO of Agoda, an Asia-focused online travel agency.

Macau operators and authorities strategize on new Law on Illegal Gambling

The Judiciary Police convened with the Gaming Inspection and Coordination Bureau (DICJ) and representatives from the six Macau gaming operators to discuss the implementation of the new "Law on Illegal Gambling Activities," aimed at comprehensively addressing gambling-related criminal activities.

Senator calls for unified action against POGO-linked crimes

Philippines' Senator Sherwin Gatchalian urged various government agencies involved in combating Philippine Offshore Gaming Operators (POGOs) and associated criminal activities to enhance their coordination.

Melco confident in revamped marketing strategy despite no share gains

Macau gaming operator Melco Resorts’s management has expressed confidence in its current marketing strategy, despite it not yet resulting in a market share gain.

Ponte 16 takes a step closer to starting Floating Casino construction

To align with the revitalization project for Inner Harbor Pier No. 16, the government has approved a modification to the land grant for Ponte 16, which is now set to move closer to the construction of the Floating Casino.

LET Group faces setback as two executives resign again

LET Group Holdings is facing challenges after two independent non-executive directors resigned, resulting in non-compliance with Hong Kong Stock Exchange (HKEX) rules.

Philippines tourist numbers rise to 4.8 mln in Jan-Oct, Koreans top the list

The Philippines experienced a robust rise in tourist arrivals from January to October 2024, welcoming 4.87 million visitors, a 9.76 percent increase from the same period last year.

MGTO and partners promote Macau tourism to Southeast Asia market 

In a bid to attract more Southeast Asian tourists, the Macau Government Tourism Office (MGTO) has partnered with tourism authorities from Hong Kong and Guangdong to produce a travelogue entitled "Hashtag Travelog" aimed at promoting the Greater Bay Area (GBA) as a top regional destination. 

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