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David is the Casino General Manager for Thunderbird Resorts & Casinos. With over 39 years of experience in the gaming industry, with more than 20 in Asia and currently living in Manila where his family is based, David is well adapted to the region's culture and unique gaming environment. David is well experienced in all aspects of gaming operations including pre-opening of premium IR's.
Melco’s EBITDA expected to surpass pre-COVID levels in 2025: S&P S&P Global Ratings states that Macau gaming operator Melco Resorts & Entertainment Ltd. is on track for an accelerating recovery path, with its property EBITDA expected to return to 2019 levels by 2025. In a non-ratings commentary, S&P assumes the company's EBITDA will recover to 94 percent of 2019 levels in 2024 and 7 percent higher than 2019 levels in 2025. This compares with about a 75 percent level in the fourth quarter of 2023. "Melco's EBITDA recovery will likely support its deleveraging to close to pre-pandemic levels over the next 12-24 months. Strong trends in Macau's mass gaming market are fueling this recovery," the research team indicates. The ratings agency also points out that higher visitor arrivals and hotel expansion will power mass-market growth in Macau. ‘China’s inclusion of Xi’an and Qingdao in the individual visit scheme from March 6 will likely further boost visitors to Macau.’ S&P Global estimates that Macau's mass gross gaming revenue (GGR) was up 12-13 percent from 2019 levels in the first two months of 2024. This trend is at the higher end of our 5-15 percent growth forecast for 2024, compared with 2019 levels. The company's EBITDA recovery could accelerate in the coming quarters. Solid mass gaming trends and incremental contributions from Studio City Phase 2 will likely support this. During the recent Chinese New Year holiday, the company's mass GGR was up 22 percent from 2019 levels, as the company benefited from Chinese arrivals.
Foreigner-only casinos Paradise Co. and Grand Korea Leisure (GKL) both updated their February gaming revenues.
A recent report by Sportradar has shed light on the concerning rise in match fixing in various regions, with Asia said to have experienced...
According to a newly issued government decree in Vietnam, the international football betting business project will be required to undergo a bidding process to select investors.
South Korean gaming operator Shin Hwa World has announced its plan to issue 845.25 million new shares, aiming to generate approximately HK$28.5 million ($3.6 million) in net proceeds.
Tokyo based real estate investment fund Mori Trust has acquired the Fairfield by Marriott Osaka Namba hotel from investment firm PAG in a strategic move ahead of a projected tourism boom.
Cambodian Prime Minister Hun Manet says that he has already ordered the suspension of license issuance in the nation, while the country is also studying the possibility of revoking licenses due to their negative impact.
The 'sharper-than-expected slowdown' post the Chinese New Year (CNY) holidays is the reason for the lower recovery rate in Macau’s gross gaming revenue (GGR) in February compared to the previous months, says Goldman Sachs.
The World Intellectual Property Organization (WIPO), a specialised agency of the United Nations, and the Esports Integrity Commission (ESIC) announces a collaboration aimed at enhancing Alternative Dispute Resolution (ADR) mechanisms within the global esports and video games industries.
Bloomberry’s casino project, Solaire North, in Quezon City is set to open late in May of this year, updates the group’s CEO and Chairman, which is about a two-month pushback from the previously scheduled opening in March of this year.
Philippine gaming operator Bloomberry Resorts has reported consolidated net income of PHP9.5 billion ($170 million) for 2023, an 85 percent increase from PHP5.1 billion ($91 million) in 2022.
Messaging app Telegram has pledged closer cooperation with the Malaysian Communications and Multimedia Commission to better combat scams and illegal online gambling.
Singapore is expected to experience a slowdown in tourism and gaming in 2024 due to escalating competition in the region, says Tradeview Capital Sdn Bhd CEO Ng Zhu Hann.
Greek lottery and gaming provider Intralot has signed a new multiyear deal with Magnum Corporation, a prominent player in the Malaysian gaming industry.
Gaming operator Melco Resorts & Entertainment witnessed a substantial increase in total operating revenues during the fourth quarter of 2023, reaching $1.09 billion.
South Korean gaming operator Shin Hwa World has issued a profit warning for 2023, with the company expecting a loss of between HK$450 million ($57.5 million) and HK$540 million ($69 million).
Global casino operator Genting Malaysia has reported a continuous improvement in its performance due to further recovery from the COVID outbreak.
Malaysian gaming equipment supplier RGB International saw a drop in revenue and a significant loss for the fourth quarter of 2023, according to the group’s most recent financials.
Macau’s GDP experienced a remarkable 80.5 percent year-on-year rebound last year, propelled by the flourishing tourism and gaming sectors.
India's gaming industry holds immense promise, but navigating regulatory hurdles and addressing tax implications are critical for sustained growth, gaming consultant Sudhir Kalé said in an interview with AGB.