Saturday, October 5, 2024

Carlos D. Simões assisted by Paulo Rowett

Carlos D. Simões assisted by Paulo Rowett
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https://www.dsl-lawyers.com/
Carlos D. Simões is a Partner at DSL Lawyers. Paulo Rowett is an Associate at DSL Lawyers.

LATEST NEWS

AGEM Index with notable 50.33 pts increase in September

The AGEM Index experienced a notable increase of 50.33 points in September 2024, reaching 1,552, marking a 3.4 percent rise compared to the previous month and an impressive 47.1 percent surge, or 496.89 points, from the same period last year.

Commission awaits senate confirmation for revocation proceedings against Imperial Pacific

The Commonwealth Casino Commission (CCC) is poised to advance with revocation proceedings against Imperial Pacific International (CNMI) LLC, pending Senate confirmation of Thomas A. Manglona’s nomination.

Sanum Investments raises alarm over Laos court dismissal of international arbitration

Sanum Investments Limited, a Macau-based firm, has raised serious concerns regarding the actions of the Lao courts, alleging they are operating under unlawful pressure.

Light & Wonder to convert “Dragon Train” in compliance with injunction

Gaming equipment and services group Light & Wonder is diligently working with customers In the United States to convert approximately 2,200 units of the "Dragon Train" game in compliance with a recent judge's order.

Robinsons plans $177M investment in Philippines for new luxury hotels

Robinsons Hotels and Resorts (RHR), a division of Robinsons Land Corporation (RLC), has announced an investment of over PHP10 billion ($177 million) to expand its hotel portfolio across the Philippines.

Macau raises Golden Week tourist projection amid positive data 

Although the Golden Week in mainland China is not yet halfway through, the Macao Government Tourism Office (MGTO) has concluded that visitor arrivals during Macau’s National Day Golden Week would exceed expectations.

Macau allocates land for airport expansion to up passenger capacity to 15M

Macau authorities have designated approximately 3.25 million square metres for the expansion of the Macau International Airport, aiming to enhance its annual passenger capacity to 15 million.

MGM China market share declines in 3Q24, GGR below expectations: Deutsche Bank

Macau gaming operator MGM China's market share dropped during the third quarter of 2024, with the company's performance falling short of expectations, according to Deutsche Bank.

Macau gaming stocks surged following China’s aggressive stimulus package: CBRE

In a significant market rebound, shares of Macau’s gaming operators surged an average of 23.7 percent over the past week, following the announcement of China's most comprehensive stimulus package since the pandemic began, CBRE analyst commented in a recent dispatch.

Korean Gov’t urged to establish gambling regulatory body for IRs: Report

Tourism experts are advocating for South Korea to create a regulatory organization to oversee the gambling sector and ensure the sustainable growth of integrated...

Paradise Co sees a 16.5% drop in casino revenue YoY in September

outh Korean foreigner-only casino operator Paradise Co reported a decline in casino revenue to KRW61.6 billion ($46.5 million) in September, marking a 16.5 percent drop year-on-year and a 14.4 percent decrease from August. 

Jeju Dream Tower casino sales up 24.7% YoY in September

Lotte Tour Development Co. Ltd, the operator of Jeju Dream Tower, has released its latest financial results, highlighting revenue growth in 2024 compared to the previous year.

Philippine Senators call for vigilance ahead of 2025 elections amid POGO concerns

A group of senators in the Philippines on Wednesday urged increased vigilance in the upcoming 2025 elections to prevent issues similar to the controversy surrounding dismissed Bamban, Tarlac mayor Alice Guo.

Macau welcomes over 304K visitors in first two days of Golden Week 

During the first two days of October's Golden Week, Macau recorded 304,217 tourist arrivals at various border checkpoints, according to the Public Security Police Force. 

Genting’s outlook favorable thanks to strong market position, diversified gaming portfolio – RAM Ratings

Both Genting Berhad and Genting Malaysia Berhad have seen their previous ratings reaffirmed by RAM Ratings, along with their debt programme ratings, thanks to a 'strong market position' and 'diversified gaming portfolio'.

NagaCorp flags $411M GGR in nine-month period 

Cambodian gaming operator NagaCorp announced that for the nine months ending September 30th, 2024, the group achieved total gaming revenue of $411 million, an increase of 8.4 percent year-on-year, and net gaming revenue of $359 million, an increase of 10.6 percent year-on-year.

POGO workers face mid-October deadline for visa downgrades: Govt

Foreign workers employed by Philippine Offshore Gaming Operators (POGO) have until October 15 to voluntarily downgrade their work visas. The requirement was confirmed by the...

Century Entertainment shareholders approved Cambodia VIP room agreement

Century Entertainment International Holdings Limited held a Special General Meeting (SGM) on September 30th, where shareholders voted on a key resolution that could shape...

HK regulator sues LET Group chairman over alleged misconduct

The Securities and Futures Commission (SFC) of Hong Kong announced on Friday that it has initiated legal proceedings to secure a share repurchase order aimed at protecting independent minority shareholders of LET Group and Summit Ascent. 

Thailand government advocates discussion on gaming tax collection

Thailand’s Deputy Finance Minister Julapun Amornvivat has called for a comprehensive dialogue among relevant state agencies regarding the casino initiative. He anticipates that this discussion will conclude by mid-October.

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