Monday, April 19, 2021

Malaysia

Genting Malaysia subscribes up to US$20 million for Empire Resorts

Genting Malaysia’s indirect wholly-owned subsidiary, Genting ER II LLC has entered into a subscription agreement for up to US$20 million of additional stocks of Empire Resorts, according to a company filing.

Resorts World LV seen generating $350m revenue in 2022

Resorts World Las Vegas is expected to generate revenue of $350 million in 2022 and EBITDA of $82 million in its first full year after opening this summer, according to Nomura Research.

UOB Kay Hian names Genting Malaysia “top pick”

Research House UOB Kay Hian has named Genting Malaysia as its top stock pick on expectations for a full recovery in 2022 as vaccines are rolled out.

Genting Malaysia buys back more stock

Genting Malaysia has bought back more of its own stock, purchasing MYR4.4 million worth of stock at a price between MYR3.11 and MYR3.15 each....
Asia, GGR, infographic

A glass half full – GGR from 2019 to 2020 [Infographic]

This week's "By The Numb3rs" compares the change in land-based casino gross gaming revenues (GGR) across five key gaming jurisdictions in Asia-Pacific.
Colin Mansfield, credit ratings

Interview with Colin Mansfield: Focus on credit [video]

Colin Mansfield, an analyst with Fitch Ratings, spoke with Asia Gaming Brief's Managing Editor Sharon Singleton about the impact of the Covid crisis on the balance sheets and credit ratings of Asia's operators and the road to recovery.

Genting buys back US$1.5 million in stock on open market

Genting Malaysia Bhd (GenM) bought back two million shares on the open market for a total of RM6.31 million ($1.5 million), with the price ranging between RM3.15 and RM3.16, according to a filing with the local stock exchange today.

Malaysia arrests high-ranking businessman for bribery in gambling case

The Malaysia Anti-Corruption Commission has arrested a high-ranking businessman suspected of accepting bribes worth RM300,000 for help in releasing 22 Chinese nationals held in an online gambling bust. The man carried the title of "Datuk Seri," which denotes a high rank.

Genting sues insurers in U.S. over Covid-19 losses

Genting Group-owned Resorts World Casino New York City and Miami Hilton have filed a suit against more than a dozen insurers claiming they wrongly denied coverage for some US$500 million in losses to the two resorts during the Covid-19 pandemic.

Genting Malaysia asks staff for another round of pay cuts

Genting Malaysia is asking staff to take temporary pay cuts of between 15-20 percent as it seeks to cut costs amid ongoing Covid shutdowns, Bloomberg reports citing an internal memo.
life after pogos

Life After POGOs – AGB Pop-Up Forum

The Philippines and Asia’s online gaming industry is going through uncertain times, with the gaming regulator seeing more and more operators leaving the country for greener pastures.
AGB Webinar - Acquiring and Retaining iGaming Customers

Acquiring & Retaining iGaming Customers

In this AGB Webinar Series, we covered the newest strategies for iGaming player acquisition and retention.
Asia Gaming Briefings, april 2021

Asia Gaming Briefings – April 2021 Edition

In this April edition of Asia Gaming Briefings we take the pulse of how the North Asia jurisdictions of Japan, Korea and the Russian Far East have fared.
Agbriefings February 21

Asia Gaming Briefings – Feb 2021 Edition

The world is bouncing back, or at least coming to grips with the fact that going forward not much will be the same as before. Commendably, this industry quickly understood the need to adapt to a new normal, and that the days of targeting the low hanging fruit of the VIP sector are gone.
asia gaming briefings Dec 20

Asia Gaming Briefings – Dec 2020 Edition

Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing what 2020 may have had in store.