Junket operator Suncity Group says it expects its loss for the six months to end-June to be between 15 and 25 percent less than the prior year.
Macau’s largest junket operator, Suncity Group, has closed all its Australian VIP rooms for commercial reasons, MNA reports.
Suncity Group held the soft opening of a new VIP club at Resorts World Manila on August 15.
China’s statement on online gambling in Manila could be seen as a warning to junkets and online gaming operations about gambling outside of Macau, Bernstein analysts wrote in a note.
Suncity Group Holdings has issued a statement denying media reports that its chairman and controlling shareholder, Alvin Chau, is under investigation by Australian authorities.
Alvin Chau, the head of Macau’s biggest junket firm, Suncity Group Holdings, has been barred from entering Australia, according to reports in local media.
Macau-based Suncity Group, mainly known as a giant in the junket industry, has signaled potential interest in Japan by deploying an executive director to speak at a symposium in Wakayama in late August.
Summit Ascent Holdings, the operator of the Tigre de Cristal, in Russia’s Primorye gaming zone, said it expects to post a profit for the first half of this year, compared with a loss the same period in 2018.
Macau authorities have reportedly opened seven cases related to illegal online gambling in the first half of the year, local media reports.
The head of Macau’s gaming regulator said the Gaming Inspection and Coordination Bureau has inspected 25 VIP rooms and found nothing illegal and confirmed that Suncity Holdings CEO Alvin Chao is not under investigation.
China’s Public Security Minister Zhao Kezhi reportedly pledged to crack down on cross-border online gambling in a meeting last Friday, just days after state media singled out Suncity Group with allegations of illegal online gambling.
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.
Suncity Group Holdings has bought a further 24.68 percent stake in Summit Ascent Holdings for HK$717.8 million ($91.5 million) as it seeks to build an “integrated tourism-related platform.”
Summit Ascent said its executive director and deputy chairman John Wang has resigned to pursue other business interests with effect from April 12.
Construction in the once sleepy seaside town of Sihanoukville is everywhere, with cranes, cement trucks, container lorries, and excavation generating clouds of endless dust.
Cambodia’s casino boom is continuing, with a 53 percent increase in licenses granted during 2018 and growing interest from Macau-based operators and junkets as Chinese tourism and investment surges.
Despite regulatory uncertainty and a relatively high risk profile, land-based operators will be closely watching developments across the Indochina region over the coming months.