Hong Kong-listed Suncity Group aims to speed up the payment of $200 million to secure the project site for its proposed five-star hotel and casino complex, Westside City Resorts World, to be developed at Entertainment City, Manila.
The $200 million payment is for the use of the project site and for the reimbursement of certain costs incurred.
Suncity has requested the Hong Kong Stock Exchange to excuse the company from calling a shareholder meeting to vote on the payment.
In October, Suncity acquired a controlling stake in a Philippines company called SunTrust Home Developers for the rights to build a five-star hotel with at least 400 rooms, a casino with 400 gaming tables, and 1,200 slot machines for both mass and VIP markets, and a 960 space parking lot.
The latest news and updates on the Covid-19 (coronavirus) - with regularly updated information relating to new cases, travel restrictions and other information to...
Singapore police have busted at least two illegal gambling operations in the past week, while across Asia authorities have moved to stamp out illicit activities, from raids on premier league matches in India, to illegal number forecasting in Malaysia.
The Puducherry union territory government has urged the union government to ban online gaming platforms and mobile apps, describing it as a necessity to protect the mental health of vulnerable people.
The next edition of the AGB Webinar Series will look at the future of iGaming customer acquisition and retention, which has been going through a transition period over the last year.
Before the Covid-19 crisis, tourism in the Greater Mekong Sub-Region was at a record high, on track to welcome 80 million visitors in 2019, generating some $90 billion in revenue.
IN FOCUS: SPORTS BETTING Ball games bounce back. Major sporting events are slowly ramping up around the world and with them the drama and surprises, not all of them good for sports betting operators.
IN FOCUS: AUSTRALIA
Reopening pubs, online rethink and reflections on gambling behaviour
The country tackled the first wave of the epidemic with relative success, however,...
