Suncity Group said it has secured a two-year extension to the conversion date of outstanding convertible bonds, which are mostly held by a company controlled by Chairman Alvin Chau.
The bonds were due to expire in Dec. 2020, but will now expire in 2022, enabling the company to postpone a “substantial” cash outflow. It also noted full or partial conversion would mean that the company would fall foul of stock exchange rules requiring a public float of at least 25 percent.
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
PUBG will not be able to return to India until at least March 21 as the company has been unable to secure a meeting with government officials to discuss the situation. The game, which previously was distributed in India by Tencent, was one of more than 100 apps banned on national security grounds due to their links to China.
Cyprus Casinos, the subsidiary of Melco Resorts & Entertainment, has announced that it will “temporarily suspend their operations according to the government directive” without providing further information.
Osaka Governor Hirofumi Yoshimura has indicated that his government will not make a final decision on its operator consortium partner until autumn 2021. At present, only the MGM-Orix consortium is an accepted bidder.
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.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.