Monday, April 19, 2021

MGM Q4 results miss forecasts, MGM China to pay special dividend

MGM Resorts International posted worse-than-expected Q4 results as Macau revenue fell, but said its MGM China unit will pay a special dividend. The company reported...

February still slow ahead of Chinese New Year

Macau table-only GGR calculations for the first two weeks of February by Sterne Agee amount to $1.14b, indicating a year-over-year monthly result of -54...

Galaxy to get less tables than hoped, UBS says

Macau’s Galaxy Phase 2 may only be granted up to 150 new gaming tables, far less than what it can accommodate, USB analysts argue. “There...

Chow Tai Fook to invest $2.6b in Incheon casino

Hong Kong's Chow Tai Fook Enterprises plans to invest $2.6 billion to build a casino resort near South Korea's largest airport, local authorities said. Chow...

Melco Crown wins Forbes awards for Altira and Crown

Melco Crown Entertainment’s Altira Macau and Crown Towers casinos have once again received the Forbes Travel Guide Five-Star Awards, taking the total to eight,...

Macau Legend’s Harbourview Hotel opens

The Harbourview Hotel, with 389-rooms and modeled on 18th century Prague architecture, has opened in Macau, marking the first of several non-gaming related projects...

Genting breaks ground on Resorts World Jeju

Genting Singapore broke ground on Resorts World Jeju, a planned $1.8 billion integrated resort with a six-star hotel and luxury villas in South Korea. The...

SkyCity sees international growth, but clouds gather over Auckland project

SkyCity Entertainment Group is optimistic about its prospects, but analyst reactions to its latest results have been lacklustre, while a major project designed to boost growth at home is facing difficulties. The company, which operates four casinos in New Zealand and two in Australia, is facing stagnant growth in its home market, while competition is set to mount in Australia. Overall in the 2013/2014 financial year New Zealanders spent $1.54 billion on the four main forms of gambling, an increase of less than one percent, while casino spending fell 2.1 percent. The company reported a flat profit of $66.6 million ($49 million) in its six monthly results on Wednesday, but also pointed to its increasing investment in Australia and its growing international business. SkyCity offered no full-year profit guidance, and its major capital investment project – an international convention centre in Auckland – is now in considerable doubt.

Vietnam prepares for airport and casino developments

A senior Vietnamese official has confirmed that he has asked local authorities to clear a site at the Van Don Economic Zone to prepare...

SkyCity interim profit dips on weak Australia operations

SkyCity Entertainment Group, which operates six casinos in Australia and New Zealand, has reported a small decline in net profit after tax in its...

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mobile social casino

Mobile social casino a rising tide

With continued and future disruptions on land-based casino revenues, industry executives are asking whether online casino platforms, which have seen rapid growth rates, can play a role in assisting stalled revenue lines and help them move beyond these difficult times.

Oaktree offers $3b funding for Crown to buy Packer stake

Crown Resorts said a group of funds advised by Oaktree Capital Management has agreed to provide up to $3 billion in funding for the company to buy back shares held by James Packer's Consolidated Press Holdings.

Mplay signs important deal with Solid Gaming

The game studio Mplay Games has recently signed an agreement with Solid Gaming to distribute their games. Mplay is a fast-growing game studio focusing on premium casino games for the Asian market and India in particular. The games are built with interactive functions to give the players a whole new game experience. 

Digitain supports Russian Gaming Week

Digitain is delighted to announce that they will be the badge sponsor for the upcoming Russian Gaming Week Exhibition taking place in Moscow on the 27th of April.