Monday, December 11, 2023

Brendan D. Bussman

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Saipan casino regulator authorises IPI counsel withdrawal

The Commonwealth Casino Commission board has authorized a motion to withdraw three counsels currently assisting Imperial Pacific International (CNMI) LLC in its Supreme Court appeal against CCC’s five complaints.

Gambling age requirement most efficient responsible gaming policy in Macau: Paper

According to a paper published in the Journal of Gambling Studies about responsible gaming policy and its practice, scholars find that Macau’s casino operators request visitors to show identification to ban those under 21 from entering casinos, which proved to be the most effective measure.

Okada Manila operator reaches agreement to acquire Emerald Bay Resort development

Tiger Resorts, Leisure and Entertainment Inc. (TRLEI), operator of Okada Manila, will acquire PH Travel and Leisure Holdings, the company behind the unfinished Emerald Bay Resort in Cebu.

China collaborates with Cambodia against online gambling 

Chinese Foreign Minister Wang Yi met with Cambodian Deputy Prime Minister and Foreign Minister Sok Chenda Sophea, emphasizing China's readiness to collaborate with Cambodia and other nations to combat online gambling and transnational crimes.

AGTech becomes a constituent of the MSCI World Micro Cap Index

Lottery and integrated technology and services company AGTech Holdings Limited has been selected as a constituent of the MSCI World Micro Cap Index, effective from the market close on November 30, 2023.

American Gaming Association elects Everi’s Michael Rumbolz as its new chairman

The American Gaming Association (AGA) has elected Michael Rumbolz as the association’s new chairman.

SkyCity lowers estimates for FY24, as EGM revenue dropped and Adelaide contributions weakened

New Zealand and Australian gaming operator SkyCity Entertainment Group has announced that it’s expecting its normalized EBITDA for its fiscal 2024 to be effectively flat, reaching between NZ$290 million ($178.65 million) and NZ$310 million ($190.97 million).

Four Suncity-linked detainees denied release from prison as court rejects bid for Habeas Corpus

Four of the accused in the Suncity junket trial have had their requests for Habeas Corpus denied by the Court of Final Instance.

Wynn Macau grants about 5 million share options to five non-executive directors

Wynn Macau has granted five independent non-executive directors the option to subscribe for an aggregate of 5,017,000 ordinary shares of HK$0.001 each.

Macau gaming operators present non-gaming investment for 2024 to the Government

Six gaming operators in Macau were invited to present their non-gaming investments for 2024 to government officials during a Council for Tourism Development meeting.

China and Singapore to launch bilateral visa-free policy as early as 2024 

Deputy Prime Minister of Singapore Lawrence Wong revealed on Thursday that China and Singapore plan to launch a bilateral visa-free policy as early as 2024.

Singapore’s gaming revenue expected to grow 10 percent in 2024: Fitch 

Ratings agency Fitch expects gaming revenue in Singapore to grow by 10 percent in 2024, following a 2023 return 15 percent higher than pre-pandemic levels.

Diversification goal will not prevent casino revenue growth: MGM China Executive Director Pansy Ho

The planned investment by Macau gaming concessionaires in non-gaming elements will not prevent casino revenues from increasing in the future, the Chairperson and Executive Director of MGM China, Pansy Ho, commented recently.

Australia approves Digital Currency and Credit Card Online Gambling Ban

The Australian Senate on Wednesday approved a new law that prohibits the use of credit cards and digital currencies as payment methods for online gambling in the country. The measure can now come into force subject to an agreed transition period.

The Star Sydney given a six-month deadline to get back the gaming license or face closure

Australia’s The Star in Sydney has been given a six-month deadline to get back its gaming license or face closure after authorities in New...

Macau government disagrees with Moody’s over ‘negative’ outlook

The Macau government has expressed its disagreement with Moody's decision to downgrade the region's economic outlook from "stable" to "negative," as announced by the credit rating agency.

Imperial Pacific International handed 30 days to repay $62 mln in owed casino license fees

Imperial Pacific International (IPI) has been given 30 days by the Commonwealth Casino Commission board to pay $62 million total in casino license fees it has owed to the Commonwealth of Northern Mariana Islands (CNMI) for almost four years.

Grand Korea Leisure reports a 2.6 percent monthly drop in gaming revenue for November

Foreigner-only South Korean gaming operator Grand Korea Leisure (GKL) recorded a decrease in gaming revenue on a month-on-month basis in November, with the most recent results indicating KRW 27.9 billion ($21.3 million) in casino sales during the period, down slightly 2.6 percent monthly and 1 percent yearly.

SJM Holdings appoints Ip Shih Ming as new CFO

Macau casino operator SJM Holdings Ltd has appointed Ip Shih Ming as new chief financial officer (CFO), with effect from 6 December 2023.

Las Vegas Sands purchases a further $249.5 million in Sands China shares

Las Vegas Sands has decided to increase its shareholding in Sands China by purchasing some HK$1.95 billion ($249.56 million) in shares.


Daniel Cheng, Hardrock International