Thursday, December 12, 2019

Government open minded on smoking lounges in casinos

The Macau government has relaxed its resolute tone on a full smoking ban in casinos, after the secretary for social affairs said the government...

South Korea’s Paradise Co. Q2 profit almost halves

South Korean casino operator Paradise Co. reported a 17 percent drop in Q2 revenue, while net profit almost halved. Revenue was 143 billion won ($122.8...

China crackdown puts spotlight on political risk in Asia

While most countries across Asia pose some degree of political risk, Taiwan is perhaps one of the more complex jurisdictions due to its relations with neighbouring China.Domestic politics, public opinion and cross-straits relations may all play a part as the island debates moves to allow a casino industry on its outlying islands. Bill Bryson, a senior advisor at Global Market Advisors, outlines some of the risks and mitigating factors.a)  Possible change of ruling party: Taiwan is a full-fledged democracy, in which all elected government positions, including the President, are directly elected by the people of Taiwan. The current ruling party, the Chinese Nationalist Party (“KMT”), is generally favorably disposed towards creating a casino gaming industry and has a clear majority in the Taiwan legislature. The current opposition party, the Democratic Progressive Party (“DPP”), is generally not favorably disposed towards casino gaming, but is less concerned about the establishment of casino gaming on Kinmen and Matsu since it does not consider those two islands, which sit just off the coast of Fujian Province within sight of the Chinese mainland, to be part of Taiwan.

EGT Q2 revenue gains as Cambodia increase offsets Philippine decline

Entertainment Gaming Asia posted a 54 percent jump in Q2 revenue, helped by a gain in both its gaming operations and gaming products business,...

Melco Crown Q2 revenue drops 24 percent, missing estimates

Melco Crown Entertainment Q2 earnings and revenue missed analysts’ forecasts as VIP volumes in Macau tumbled and mass market also declined. Adjusted net income was...

Studio City set to open October 27

Melco Crown Entertainment announced that its highly anticipated $3.2 billion Hollywood-themed Studio City will officially open on October 27, 2015.  Melco Crown made the announcement...

MGM 15Q2 profit tumbles, but tops forecasts

MGM Resorts International posted lower Q2 revenue and earnings, dragged down by a slump in its Macau operations, but announced a "profit growth plan"...

Queensland government gives green light to ASF Consortium

The Queensland state government gave the green light for the Chinese-backed ASF Consortium to start planning construction of a $2 billion integrated resort on...

Studio City looks set for 150 tables: DB

Melco Crown’s Studio City may receive roughly 150 gaming tables from the government for its Hollywood-themed Studio City resort, a number that will now...

Tiger Resorts partners with local businessman for Manila Bay project

Tiger Resort, Leisure and Entertainment announced it has partnered with a local Filipino firm to develop its Manila Bay Resorts project and build apartments,...

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Macau Q4 more challenged than expected: Nomura

Softer VIP volumes in November and tighter security measures during the Chinese President’s visit to Macau in December will weigh on Macau GGR in...

FBM attends as title sponsor of G2E Philippines

With G2E Asia coming to the Philippines for the first time in the show’s history, FBM has announced it will be the title sponsor...

Nagasaki to choose its IR operator partner in autumn 2020

Nagasaki Governor Hodo Nakamura has told his prefectural assembly that his administration plans to select its IR operator in autumn 2020.

Casino winnings taxation policy delayed until next year

Some lawmakers have grown concerned that the proposed policy on the taxation of casino winnings is too heavy-handed, and a settlement of the issue has been delayed until next year.

Aristocrat logs 29 percent rise in net profit in FY2019

Slot and gambling machine maker Aristocrat Leisure saw its profits after tax rise by nearly 29 percent in the one-year period to the end of September, reaching almost A$700 million (about US$476 million). The company’s total sales were nearly A$4.4 billion.