Thursday, February 29, 2024

Kit L. Szybala

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LATEST NEWS

Basketball player Kai Sotto is the new 1xBet ambassador in Asia

Global betting company 1xBet is pleased to announce the start of a partnership with talented basketball player Kai Sotto. Now, the young Filipino will represent the 1xBet brand in his homeland, as well as in Japan, China, Indonesia, Thailand, and other Asian region countries.

Macau legislative assembly approves draft bill to counter illegal gambling

The Macau Legislative Assembly this Wednesday approved the first reading of new legislation against illegal gaming.

Rebound in customer traffic helps Okura continue turn to profits in 2H23

Pachinko operator Okura Holdings reported a significant increase in profit before income tax, rising approximately JPY929 million ($6.1 million) in the second half of 2023, a 569.9 percent bump from the same period in the previous year.

Casino closures only partial and temporary – Genting

Genting Bhd's Resorts World Genting has clarified that only some sections of two out of its three casinos will be closed temporary for renovation purposes.

Galaxy with almost $358 mln in EBITDA in Q423

Galaxy Entertainment Group (GEG) has announced impressive financial results for the fourth quarter and full year 2023, which allowed for the group to advance with dividend distribution.

Sands China CEO Grant Chum: $1.4 billion towards Londoner Phase 2 and Arena revamp

Sands China is doubling down on its non-gaming investments, with newly elevated Grant Chum – the group’s President and CEO – saying it will lay-out some $1.4 billion on Londoner Phase 2 and the revamp of its Cotai Arena.

Light & Wonder profit up 220% in 4Q23, growth across all business segments

Gaming giant Light & Wonder has announced that the group saw a 220 percent increase in profits during the fourth quarter of 2023, topping $67 million, as revenue rose by 13 percent to $770 million.

Manila airport to increase aircraft movement

The government aims to increase aircraft movements at the Ninoy Aquino International Airport (NAIA) to 48 per hour from the current 41.

PAGCOR requests approval for employee wage increase

The Philippine Amusement and Gaming Corporation (PAGCOR) has sought approval to implement salary step increments based on employees’ length of service.

Sri Lanka revises new casino license fees

Sri Lanka's Ministry of Finance has announced revised fees for obtaining and renewing casino licenses, following the submission of ten casino applications, the country's media reported.

Hong Kong Jockey Club asks gov’t for more betting options to be allowed

The Hong Kong Jockey Club (HKJC) has proposed to the SAR government that it should be allowed to introduce new betting options in its operations to counteract the rise of illegal bookmakers.

Group behind Savan Vegas in Laos loses $175 mln litigation initiated by Macau investor

Macau-based company Sanum Investments Ltd has won a litigation case in a commercial dispute against the Laos-based gambling group responsible for the development of the Savan Vegas Hotel and Entertainment Complex, located in Savannakhet Province in Laos.

Newport World Resorts donates 18 motorbikes to the Philippine National Police

Newport World Resorts, with support from PAGCOR, has donated PHP10 million ($178,000) worth of motorcycles to the Philippine National Police (PNP).

Philippines remains on FATF Grey List despite positive developments

At the recent plenary sessions in Paris on February 23, the Philippines' appeal to be removed from the Financial Action Task Force (FATF) grey list was unsuccessful.

Visitor mix for mainland Chinese increased for first time since 2019: UBS

Although Macau’s visitor arrivals in January have yet to return to 2019 levels, the visitor mix for mainland Chinese was high at 49 percent in January for the first time, six percentage points higher than the 43 percent recorded in January 2019, according to UBS.

Jumbo Technology sponsors ASEAN Gaming Summit 2024

Jumbo Technology, a leading gaming supplier in Taiwan, has announced its sponsorship of the ASEAN Gaming Summit 2024, the industry event scheduled to take place from March 19th to 21st in Manila, the Philippines.

SkyCity to appoint interim COO: Brad Burnett

SkyCity has announced the appointment of an interim Chief Executive Officer for New Zealand, elevating Brad Burnett to the role, effective on March 9th.

IPI refiles lawsuits against CCC and Palacios

Imperial Pacific International (CNMI) LLC, a casino operator, resubmitted its two lawsuits against Palacios, the CCC, and associated officials on Friday.

FEC listing of Czech Republic casino subsidiary scheduled for March 11th 

Hong Kong Stock Exchange-listed Far East Consortium (FEC) has announced the proposed date for the spin-off of its Czech Republic casino subsidiary: March 11th.

International Entertainment loss widens due to Manila IR expenses

International Entertainment’s loss has widened sharply for the six months ended 31 December 2023, to HK$36.1 million ($4.6 million) due to the development of its Manila integrated resort.

TOP AUTHORS

Under the Scope: FATF, junkets, STRs, financiers and workarounds

The Philippines and Vietnam remain on the Financial Action Task Force’s grey list, the only two Asian gaming jurisdictions so defined. In this week’s Under the Scope, gaming expert Ben Lee looks at the differences between each country’s strategy, the impositions they’re facing, and business and political sentiment towards their continued oversight by the financial watchdog.