Tuesday, May 21, 2019

Can Siberia’s Tigre de Cristal roar in Russia’s Far East?

The first casino in Russia’s Far East, which has been touted as a potential Macau of the north, has officially opened after lengthy delays.The Tigre de Cristal held its soft launch on Oct. 8th in the Primorye gaming zone near the city of Vladivostok. The debut of the casino has been postponed multiple times since 2011, but the pace of development picked up when Asian investors became involved in the project in 2013. The resort is expected to appeal mainly to travellers from northern China and Korea, although unlike in many other Asian countries locals will also be able to participate. About 300 million people live within a three-hour flight of Vladivostok. 

LVS Macau mass market share drops in Sept., Wells Fargo says

Las Vegas Sands was the biggest loser in terms of mass market share among the U.S.-listed operators in Macau in September, according to Wells...

NagaCorp offers bright spot in Asia casino market, expansion to drive growth

On an overcast morning in Cambodia's capital, Phnom Penh, the country's flagship casino looks less familiar than it did a year ago as construction obscures the entire front entrance. NagaWorld, which began as a boat moored on the Mekong River 20 years ago, is undergoing a major revamp, which is expected to help accelerate growth at one of the brightest spots in Asia’s casino industry. 

Studio City table allocation may surprise to the upside

Melco Crown Entertainment may get more tables than originally anticipated for its upcoming Studio City launch, Sterne Agee wrote in a note. The market is...

Genting, Naga among firms eyeing Cyprus casino license

Malaysia’s Genting and Hong Kong-listed NagaCorp are among six firms to have formally expressed an interest in a license to build a casino resort...

Iao Kun posts month-on-month improvement in Sept.

Iao Kun Group Holding, which operates VIP rooms in Macau, said its unaudited rolling chip turnover for September fell 66 percent from the same...

Genting’s Resorts World Birmingham to open Oct. 21

Genting’s £150 ($230 million) million leisure destination Resorts World Birmingham in England is due to open on October 21, though its casino will launch...

NZ internal affairs minister announces changes to gambling sector

New Zealand Internal Affairs Minister Peter Dunne has announced a number of decisions affecting the gambling sector, including increasing gambling operator fees, a government...

Lotte Tour set to develop Jeju’s second IR

South Korea's Jeju Island looks set to get a second major foreigners-only integrated casino resort after Lotte Tour Development took over the Dream Tower...

Mass market holding up, but not helping profit margins, analysts say

Macau’s operators are so far seeing little benefit to their bottom line from a shift in the business mix from the high roller to...

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Sands China invests in green technology for its properties and fleets

Macau gaming operator Sands China is investing in a number of initiatives to reduce its impact on the environment, such as solar panels, recycling...

PAGCOR Q1 profit up 9.5 percent

Philippine Amusement and Gaming Corp (PAGCOR) saw its profit climb 9.5 percent to P1.6 billion (US$30 million) during the first quarter of 2019, mainly...

Kansai IR Expo reveals rapid growth of the gaming industry

The scale of the Kansai IR Industrial Expo held in Osaka on May 15 and 16 testified to the rapid rate of growth of the gaming industry in Japan as it was clearly much larger than its predecessor event held a year ago in the same city.

Parañaque court affirms Okada warrant of arrest

A Parañaque City trial court has affirmed the warrant of arrest issued earlier this year against Japanese gaming mogul Kazuo Okada, local media reports. Okada’s...

Summit Ascent announces board changes after Suncity hikes stake

Summit Ascent Holdings has announced board room changes after Suncity Group Holdings increased its stake in the operator of Tigre de Cristal earlier this month.