Bricks & Mortar

Shares in casino operator Crown Resorts have plunged as much as 10 percent after the financial crimes regulator AUSTRAC launched an investigation into compliance with anti-money laundering and counterterrorism financing laws.

Jia Kang, the former head of the Chinese Academy of Fiscal Studies, predicts "stable development for Macau's gambling industry, even though Beijing is preparing a legislative amendment to stop capital flight for gambling. 

Fitch Ratings has joined rival agency Standard & Poor’s in expressing concern over the speed of recovery for Genting Bhd, citing a lag in Singapore, which is reliant on international tourism arrivals.

Universal Entertainment, which controls the Okada Manila IR in the Philippines, has announced to JASDAQ that it will increase its planned notes offer from US$100 million to US$135 million.

Yokohama Mayor Fumiko Hayashi has, for the very first time, acknowledged that the people of her city might actually have a voice in whether or not to build a major IR along the coastline.

As the new week dawns, our attention remains focused on Crown Resorts, which holds its AGM after yet another week of devastating testimony at the NSW Independent Liquor and Gaming Authority (ILGA) probity inquiry.

Australian Transaction Reports and Analysis Centre (AUSTRAC) has delivered formal notice to Crown Resorts that it has identified potential non-compliance at the firm with its responsibilities in relation to anti-money laundering rules.

The Widus Group, owner and developer of the Widus Hotel and Casino complex in Clark Freeport Zone, in the Philippines, says it has delayed the first phase of the property’s expansion to late 2021, amid Covid-19.

Jeju Special Self-Governing Province is requesting public and private financial assistance to the island’s casino industry as the economic grind from the Covid-19 pandemic is threatening to devastate the eight casinos, creating unemployment and a reduction in tax revenues.

Kangwon Land’s degree of commitment to identifying and eliminating problem gambling at its facility has been questioned after it is revealed that only 82 patients have been treated over a five year period, in spite of a significant annual budget for this task.