Thursday, April 25, 2024

New multi-entry visa would boost Macau hotel rivalry: insiders

The Chinese government may launch a visa multi-entry visa between Macau and Hengqin for Chinese tour groups as soon as next month, a source familiar with the matter told AGB.

Crown Resorts found suitable to retain Sydney casino license

Crown Resorts is retaining its casino license in Sydney, after authorities in New South Wales ruled that the group’s remediation efforts have been sufficient, and the multi-million dollar investment were worth every penny, granting back its casino license.

Morgan Stanley lowers Sands China’s 2024 EBITDA estimates due to share loss

Morgan Stanley has revised down Sands China’s 2024 EBITDA forecast to $2.4 billion, an 8 percent decrease, due to lower market share this year.

Bloomberry’s Solaire Resort North to open on May 25th

The Philippines' leading gaming operator, Bloomberry Resorts Corp., has announced plans to unveil its Solaire Resort North casino complex by May 25th.
The Grand Ho Tram, Vietnam IR, Walter Power

Reshaping The Grand Ho Tram into an IR: EBITDA is king

Since coming in four years ago, gaming veteran Walter Power has flipped the script on the Grand Ho Tram Resort, leveraging decades of experience in Macau to shape it into a true integrated resort, drawing the expat crowd from nearby Ho Chi Minh and further abroad.
Banning junkets from insuring credit aligns with public policy: expert

Banning junkets from insuring credit aligns with public policy: expert

The Legislative Assembly of Macau's approval of gaming credit legislation, which prohibits junkets from extending gaming credit, is viewed as a significant step towards aligning with public policy in China and Macau.
Non-gaming investment requirements for gaming operators already reshaping Macau

Non-gaming investment requirements for gaming operators already reshaping Macau: pundits 

The non-gaming investment requirements for Macau gaming concessionaires are already reshaping the Special Administrative Region, according to industry experts interviewed by AGB.

Online gaming participation increased ‘dramatically’ in Victoria – Study

In a comprehensive analysis of gambling trends over a ten year period in the Australian state of Victoria, researchers uncovered that, while overall participation rates on 'traditional' gambling have decreased, online gambling participation has increased 'dramatically'.
Congressman Gus Tambunting: House is split 50/50 on gaming

Congressman Tambunting: House is split 50/50 on gaming

Philippine Congressman Gus Tambunting says the House is equally divided in regards to gaming support, in particular of online. Meanwhile, the sale of Casino Filipino venues is proof of how seriously the nation is taking its gaming, with current laws unlikely to change under future administrations. The official also says that the gaming regulator, PAGCOR, “needs more teeth” in order to properly enforce regulations.
Bloomberry Resorts COO, focus on people and product cornerstones of profitability, ASEAN Gaming Summit

Bloomberry COO: focus on people and product cornerstones of profitability

The President and Chief Operating Officer of Bloomberry Resorts, Thomas Arasi, says that the focus on its people and its product naturally lead to profitability. The group aims to create a “Filipino talent pool that is second to none globally”, including additional training to prepare for the opening of its latest property – Solaire Resort North – in May. Check out some key highlights from the executive’s keynote speech at the ASEAN Gaming Summit.
Macau, Casino Gaming Tables

RFID tables benefits could be offset by privacy concerns: gaming expert

After Macau authorities announced their intention for all gaming concessionaires to adopt radio frequency identification (RFID) tables, commonly known as smart gaming tables, a gaming insider believes that the measure will have a "net neutral" impact on Macau’s gaming revenue.
PAGCOR excited about growth in eGaming segment, Alejandro H. Tengco

PAGCOR excited about growth in eGaming segment

PAGCOR’s Chairman and CEO, Alejandro H. Tengco, says that he’s most excited about the growth in the eGaming sector in the Philippines, with expectations that gross gaming revenue generated from the segment could even top that of its land-based casinos. The official also laid out the sale plans for Casino Filipino, saying they haven’t yet settled on a final price.
Cambodia, regulated gaming framework

Cambodia bets big on tourism despite yet having visa-free policy with China: Insider

Tourism is a “major focus” of Cambodia under the new leadership of the country’s Prime Minister Hun Manet, as the Southeast Asian country has “set up many initiatives to attract Chinese, not just Chinese tourism, but in general, all tourism to Cambodia,” notes gaming expert Daniel Li in an interview with AGB.
Crown Resorts Melbourne

VGCCC rules Crown Resorts can keep its Melbourne casino license

Gaming regulators in the Australian state of Victoria have ruled that Crown Resorts is suitable to continue to operate its Melbourne casino, following years of debate over AML breaches.
PAGCOR, Casino Filipino, Online gaming platform

PAGCOR expecting 2024 GGR to grow 18% YoY

The Philippine Amusement and Gaming Corporation (PAGCOR) is anticipating gross gaming revenues (GGR) in 2024 to reach PHP336.38 billion ($5.9 billion).
ASEAN Gaming Summit 2024 draws record number of participants

ASEAN Gaming Summit 2024 attracts unprecedented number of participants

Organized by Asia Gaming Brief, the ASEAN Gaming Summit 2024 concluded yesterday in Manila, Philippines, after a three-day event that welcomed nearly 1,600 attendees, setting a new record.