CNMI GDP was already down 11.2 percent in 2019
With an 80 percent drop in casino revenues, the CNMI GDP fell 11.2 percent in 2019, according to data from the U.S. Department of Commerce-Bureau of Economic Analysis.
Macau gaming industry recovery underway [Infographic]
Whilst first quarter GGR in 2021 still showed negative year-on-year growth, the truth is that the Macau gross gaming revenue recovery is well and truly underway.
Everi CEO Michael Rumbolz to become chairman
Everi Holdings Inc on Monday announced that E. Miles Kilburn, Chairman of the Board of Directors of Everi, has informed the Company he will retire from the Board of Directors and will not stand for reelection at the Company’s 2021 Annual Meeting of Stockholders.
GKL casino sales reaches $5.8 million
Grand Korea Leisure Co Ltd saw its 21Q1 casino sales reach KRW6.46 billion, down 94.1 percent from the prior year period.
Success Dragon completes share placing
Success Dragon has announced the completion of placing of new shares on March 31, which sees an aggregate of 429,870,000 placing shares, representing approximately 15.37 percent of issued share capital of the company at a placing price of HK$0.067 per placing share.
Wynn Macau casino revenues fell 82% in 2020
Wynn Macau saw its casino revenues fall 82 percent in 2020 primarily due to adverse effects of the covid-19 pandemic, which saw its casinos closed in Macau for a 15-day period and subsequent reopening on a reduced basis in the year.
Melco Intl Dev swings to HK$12.4 billion loss in 2020
Melco Resorts’ parent company Melco International Development said it swung to a loss of HK$12.4 billion for the year ended Dec 31, 2020, caused mainly by a 70 percent fall in revenue in the year.
Ponte 16 hit with US$31.6 million EBITDA loss in 2020
Hong Kong-listed Success Universe recorded hefty losses for the year 2020, mainly due to the Covid pandemic, including an adjusted EBITDA loss of HK$243 million (US$31.6 million) at Ponte 16, the group’s flagship investment project in Macau.
New Silkroad faces “arduous” business prospects in Jeju
Hong Kong-listed New Silkroad Culturaltainment, which operates the MegaLuck Casino at Jeju’s KAL Hotel, has described the ongoing impact of the Covid pandemic as being “arduous.”
Strong local demand lifts Summit Ascent H2
Summit Ascent Holdings, operator of Tigre De Cristal in Vladivostok said it swung the second half of 2020 to a positive adjusted EBITDA and net profit, thanks mainly to strong local demand.
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Macau to reduce blue cards if unemployment continues rise
Macau Labor Affairs Bureau (DSAL) deputy director believes there will be fewer blue-card holders in Macau if the unemployment rate continues to rise.
Interview with Bobby Soper: Expansion in Korea and hopes for Japan
Bobby Soper, the newly appointed international president at Mohegan Sun, talks to Asia Gaming Brief about the group’s vision for its resort in Incheon, South Korea and aspirations for a license in Nagasaki, Japan. He says the group’s entertainment-focused, non-gaming model will help to cushion Mohegan from the notorious volatility in South Korea’s foreigner-only casino market.