“As soon as we catch up on our cash flow, we will also catch up on payroll,” a spokesperson for the casino resort in the Commonwealth of the Northern Mariana Islands told reporters.
One could be forgiven for assuming the above quote was made this week in reference to the beleaguered Imperial Pacific International (IPI), but, in fact, it comes from an Asia Gaming Brief report published in April 2013 in reference to the Tinian Dynasty Hotel & Casino.
That same month, US government agents temporarily shut down Tinian Dynasty, arresting two executives, charging the casino with failure to file reports on large cash transactions with its customers. In June 2015, the US government fined the Tinian Dynasty and its owner, Hong Kong Entertainment (Overseas) Investments, US$75 million for “willful and egregious” violations of anti-money-laundering rules.
Tinian Dynasty, which had opened in 1998, finally sputtered to a close in the following months,...
Melco Resorts & Entertainment is earmarking close to MOP16 million ($2 million) towards a “Get the Jab” immunity incentive program to encourage colleagues suitable for the COVID-19 vaccine to become fully vaccinated.
For this edition of our magazine, we focus on Southeast Asia, with a particular look at the Philippines. The country’s casino industry has been among the hardest hit in Asia, with the integrated resorts in Manila’s Entertainment City having remained mostly closed to the general public since the beginning of the crisis last year.
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.