TAB New Zealand reported net profit for October of $15.8 million, which was $4.4 million above budget and $3 million above last year. Profit was driven by strong domestic and international racing and by the All Blacks' first international appearance since the Rugby World Cup.
Imperial Pacific International's project director Jing Zhou has outlined a construction timetable for the resort, providing it has enough workers, saying Phase 2 of the hotel tower will be finished by the end of next year, while VIP gaming and the sky level should be finished by April 2022.
Vicky Melbourne, head of industrials, property and consumer for South Asia and Southeast Asia at Fitch Ratings, talks with Asia Gaming Brief managing editor Sharon Singleton about the impact of Covid-19 on the credit profile of the region’s operators.
Shares in Ainsworth Game Technology fell 8.5 percent in Australian trading on Thursday after the company told investors that it expected to post a loss of about $15 million in the first half of the fiscal year, due to continuing difficult trading conditions.
The fallout from the inquiry into Crown Resorts' suitability to hold a license in Sydney may have ramifications for the entire industry in Australia, including tighter regulation, Fitch Ratings said in its 2021 outlook.
A group of workers from Turkey have filed the latest lawsuit against Imperial Pacific International, this time on accusations that the company lured them to Saipan on various false promises about their working conditions.
A “heightened risk of severe regulatory action” has prompted Fitch Ratings to put Crown Resorts on credit watch negative for a potential ratings downgrade.
The Commonwealth Casino Commission board approved an order that temporarily adjusted a requirement for Imperial Pacific International to maintain $1 million at minimum in its casino cage. The ruling will allow the company to move the estimated $688,000 to $690,000 to a secure place.