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The Malaysian government is losing up to MYR3 billion a year in revenue as illegal gambling syndicates take an ever growing amount of business away from legal number forecast operators.
Las Vegas Sands will be the first of the major operators to report its Q3 results on Wednesday, providing a snapshot of how the recovery process from the pandemic is faring in three major gaming jurisdictions.
Some areas of the Philippines have been able to tentatively open their resorts for business after the Covid-19 lockdowns but for now they are just available to local residents. The resorts are in Negros Occidental in the middle of the archipelago.
Forty-eight China nationals suspected of operating online gambling from three condominium units in Kuala Lumpur were arrested on October 16.
PH Resorts Group Holdings, Inc, the Udenna Group’s gaming and hospitality subsidiary, has set the offer price for its follow-on offering of up to 450 million primary common shares at P1.68, a 32.8 percent discount from the top-end of its price range.