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LVS issues $1B bonds to refinance 2026 notes after S&P upgrade

Las Vegas Sands Corp. is issuing 5- and 7-year unsecured bonds at the parent holding company level to refinance $1 billion of notes maturing in August 2026 and to support general corporate purposes, including share repurchases.

The move follows a recent credit rating upgrade by S&P.

According to CBRE Credit Research, the new issuance is being conducted through the company’s parent entity (LVSC) after S&P upgraded Las Vegas Sands’ corporate family rating by one notch to BBB from BBB-. Debt instrument ratings now stand at BBB-/Baa3/BBB. The refinancing targets existing 3.5 percent unsecured notes due in August 2026.

The upgrade reflects what S&P described as a prudent financial policy and increased confidence that the company’s capital expenditure program will not result in sustained higher leverage. This assessment is partly linked to Las Vegas Sands’ earlier withdrawal from the Downstate New York casino licensing process and the low likelihood of casino legalization in Texas in the near term.

CBRE noted that Las Vegas Sands maintains a ‘strong command of leverage,’ with gross consolidated leverage at 3.1 times as of the first quarter of 2026 and net leverage at 2.6 times. These levels are broadly consistent with pre-pandemic positioning in 2019.

The report also highlighted that the parent holding company, despite being asset-light following the divestment of its Las Vegas assets, continues to benefit from strong underlying equity value in its Macau and Singapore operations, as well as material royalty fee income of approximately $350 million annualized in the first quarter of 2026.

CBRE added that debt across the Las Vegas Sands capital structure remains among the ‘tightest’ in the gaming sector, reflecting investment-grade credit metrics and a stable financial policy. LVSC and subsidiary debt trade largely in line, supported by the ability to move cash across the group and ongoing contributions from Singapore operations.

Ainsworth confirms Kjerulf Ainsworth holds 8.24% following takeover offer close

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Ainsworth Game Technology said in an update to the Australian Securities Exchange on Tuesday, May 5th, that Kjerulf David Hastings Ainsworth (KDHA) held 8.24 percent of the company’s voting power following the close of his proportional takeover offer.

The unsolicited proportional off-market offer, which sought to acquire 5.5 percent of each shareholder’s ordinary shares not already owned by KDHA, closed at 7:00 pm Sydney time on April 27th, 2026, the company said.

Ainsworth disclosed that KDHA’s voting power stood at 8.24 percent at the conclusion of the offer period, positioning him as the company’s second-largest shareholder.

According to the filing, Novomatic AG remained the controlling shareholder with 67.39 percent of issued shares.

The takeover bid forms part of a broader push by Kjerulf Ainsworth to influence governance at the company. In a supplementary bidder’s statement released prior to the offer’s close, he raised concerns over board structure, shareholder rights and capital management.

Lawrence Levy
Lawrence Levy

He indicated support for tightening director remuneration and disclosure requirements, while opposing the renewal of proportional takeover provisions, arguing such measures could limit opportunities for shareholders to sell their holdings.

Kjerulf Ainsworth has also nominated former chief executive Lawrence Levy as an independent non-executive director, with the intention of later backing his appointment as chairman, citing the need for continuity and strategic direction.

In addition, he has signaled plans to pursue changes to the company’s constitution to mandate dividend payments, noting that Ainsworth has not paid dividends since October 2018 despite reporting growth.

The developments come amid a long-running control dynamic with Novomatic, which has held a majority stake since 2018.

Kjerulf Ainsworth is the sixth son of Len Ainsworth, founder of the company, and has long been a significant shareholder, although he does not hold an executive role.

Aristocrat Gaming puts the spotlight on Baron Upright at G2E Asia 2026

Aristocrat Gaming revealed it will present at G2E Asia 2026 a diverse lineup of innovative, Asia‑exclusive content while unveiling the Baron Upright cabinet, an eye‑catching hardware innovation already making an impact on gaming floors worldwide.

G2E Asia 2026 will be held from 12-14 May at the Venetian Macao Expo Hall and Aristocrat Gaming will be located at booth A1048.

The Baron Upright cabinet has surpassed over 10,000 installs across ANZ and is bringing a new type of energy to gaming floors across the globe. With its dynamic lighting, vivid graphics and cinematic audio, it brings Aristocrat Gaming titles to life, maximising operator performance and player experience.

Also on display, the debut of 5 Dragons Link will build on the unrivaled legacy of the 5 Dragons franchise as an Asia-first release on the Baron Upright cabinet. The title integrates modern Hold & Spin mechanics and bespoke metamorphic features to drive floor performance and player engagement in the region.

Following record-breaking player adoption across international markets, the stand will feature Thunder Empire in Asia. This isn’t just a new title; it’s a global entertainment experience that has consistently outperformed expectations in the markets where it strikes.

Kurt Gissane, Chief Revenue Officer for Aristocrat Gaming, said, “Asia continues to be a strategic priority for our company and G2E Asia is the perfect opportunity to demonstrate the powerful portfolio we have to help drive our operator’s businesses further…From the launch of the all-new The Baron Upright cabinet to the incredible titles that are ready to make their way onto gaming floors, we’re excited to showcase our commitment to delivering innovative and tailored gaming experiences for our customers in the region.”

Attendees at G2E Asia will have the opportunity to preview Bao Zhu Zhao Fu Ignite, the latest evolution of the popular franchise featuring a dynamic feature‑in‑feature experience, alongside exclusive new MarsX content for Dragon Link and Dragon Cash, two world‑leading titles setting new benchmarks for operators and players.

Rounding out the Asia-focused lineup is the Asia debut of Lian Kai Xian Fu, alongside strong-performing spooky favourite Mo’ Mummy, delivering a diverse mix of themes, volatility, and gameplay styles designed to appeal across the region.

Galaxy Gaming secures continued worldwide rights to Perfect Pairs online

Galaxy Gaming has announced a multi-year extension of its agreement with Netco Ltd., the owners of the Perfect Pairs side bet intellectual property, reaffirming its exclusive global online distribution rights for the popular blackjack and baccarat side bet.

Under the terms of the extended agreement, Galaxy Gaming will continue to offer Perfect Pairs exclusively to online casino operators (B2C) and developers (B2B) worldwide, across Live Dealer and RNG table games.

The extension reinforces the long-standing relationship between Galaxy Gaming and Netco and reflects the continued strong performance and player demand for the Perfect Pairs brand in the online gaming market. Galaxy Gaming also distributes Perfect Pairs to land-based casino operators around the world through a separate agreement with Netco.

Perfect-Pairs-side-bet-Galaxy-Gaming

Perfect Pairs remains one of the most widely recognized and successful blackjack and baccarat side bets in the online gaming market, offering players multiple payouts based on whether their first two cards form a Mixed Pair, Colored Pair, or Perfect Pair. The side bet has achieved broad adoption globally and continues to be a staple offering among online casino operators.

“Perfect Pairs is one of the industry’s most enduring and successful side bets and extending our agreement with Netco underscores the strength of the brand and our shared commitment to its continued growth online,” shared Matt Reback, President and CEO of Galaxy Gaming. “We are thrilled to continue to Deal Excitement by bringing this iconic game to players around the world.”

Commenting on the strategic partnership, John Wicks, CEO of Netco and inventor of Perfect Pairs, said, “By partnering with Galaxy Gaming, Netco aligns our market-leading game with the world’s premier independent licensor of proprietary table games. They are the ideal partner to progress our expansion, given their proven market expertise and established distribution networks. Galaxy has proven to be an exceptional distribution partner for Perfect Pairs through both online and land-based channels. This extension allows us to build on the strong momentum of the brand while ensuring consistent, high-quality deployment across global online platforms.”

The renewed agreement supports Galaxy Gaming’s broader strategy to expand its proprietary content portfolio across global markets while maintaining strong, long-term relationships with IP owners and content partners.

DigiPlus eyes another hotel acquisition, close to New Coast Hotel: report

DigiPlus Interactive Corp. is reportedly in talks to acquire the Diamond Hotel Philippines in Manila, as the online gambling firm moves to consolidate a major integrated resort development along Manila Bay.

According to a report by local media outlet Insider PH, the company, chaired by Eusebio Tanco, has offered a multibillion-peso sum for the five-star waterfront property, which is part of the private portfolio of Ramon S. Ang, chairman and chief executive of Philippine conglomerate San Miguel Corp. The report cited several insiders who confirmed the discussions, though one source noted that Ang has rebuffed multiple offers for the hotel to date. Recent talks have centered on pricing, with a potential deal expected to deliver Ang a significant return over his original purchase price.

DigiPlus eyes another hotel acquisition, close to New Coast Hotel: report
Diamond Hotel Philippines in Manila

The Diamond Hotel Philippines sits on a seafront lot along Roxas Boulevard in the Malate district, overlooking Manila Bay. The property features around 480 rooms and suites and was originally constructed by Japan’s Shimizu Corp., opening in the early 1990s with Japanese operational involvement.

DigiPlus, known for popular gambling platforms BingoPlus and ArenaPlus, is separately closing its acquisition of International Entertainment Corp. (IEC), the Hong Kong-listed company that operates New Coast Hotel Manila, formerly the Hyatt Regency Hotel & Casino Manila, located on an adjacent block to Diamond Hotel along the Manila Bay corridor. Acquiring Diamond Hotel would allow DigiPlus to consolidate both properties into a single contiguous Manila Bay site. The two hotels are already connected by a roof bridge, making the expansion logistically straightforward.

International Entertainment, New Coast Hotel
New Coast Hotel Manila

DigiPlus is in the process of acquiring IEC through a convertible notes deal totalling 1.6 billion Hong Kong dollars ($205.1 million). The first tranche of 800 million Hong Kong dollars ($102.6 million) was completed on March 3rd, 2026, with a second tranche of equal value expected to follow within three months. IEC holds a provisional license from the Philippine Amusement and Gaming Corp. (PAGCOR) to develop and operate an integrated casino resort in Manila until 2033 and has committed to invest between $1 billion and $1.2 billion to expand its operations.

DigiPlus’s financial position appears capable of supporting the ambition. The company posted a full-year 2025 net income of PHP12.6 billion ($220 million), broadly stable year-on-year, while revenue rose 12 percent to PHP84.2 billion ($1.47 billion). Its cash position grew nearly 70 percent to PHP23.4 billion ($408 million) as of the end of 2025.

The Manila Bay corridor has attracted growing redevelopment interest in recent years, with Diamond Hotel’s seafront location and land footprint adding to its strategic value for gaming and hospitality operators.

Bloomberry’s head of gaming Cyrus Sherafat to depart in August

Bloomberry Resorts Corporation said Cyrus Sherafat, Executive Vice President and Head of Gaming, will resign effective August 31st, 2026.

The Philippines-listed company disclosed the development in a filing with the Securities and Exchange Commission dated April 30th, 2026. Sherafat tendered his resignation on that date, citing personal reasons.

Sherafat has held the role of Executive Vice President, Head of Gaming since July 2022, according to his LinkedIn profile. He joined Bloomberry in 2014 and held several senior roles in casino marketing prior to his current position. Before that, he worked in casino marketing at Marina Bay Sands in Singapore.

No successor has been announced. The company also confirmed that no appointment or change in designation has been made in connection with his departure.

Bloomberry operates Solaire Resort & Casino in Entertainment City, Parañaque City, one of the Philippines’ integrated resorts licensed by the Philippine Amusement and Gaming Corporation.

Liga MX taps Genius Sports for AI-powered future of Mexican soccer

Genius Sports has entered into a major technology and AI partnership with Liga MX, with its GeniusIQ platform powering a comprehensive suite of fan engagement, sponsorship and performance solutions.

As the operating system of modern sport, Genius Sports has deployed GeniusIQ, its data and AI platform, across every Liga MX stadium. GeniusIQ creates a real-time understanding of soccer, combining rich tracking, video and insights to then power real-time advertising activations, augmented broadcasts, semi-automated offsides and data-driven coaching tools.

Connecting brands

Genius Sports’ Moment Engine will enable Liga MX sponsors and brands to activate real-time advertising around key moments in games. For example, immediately after a crucial goal, save or substitution, brands can trigger moment-driven campaigns across live broadcasts, digital and streaming.

Liga MX

Already live across the NFL and NBA, the Moment Engine will now enable Liga MX sponsors to act on fan attention and drive a new era of immersive advertising when the live action is at its most compelling.

Augmented, data-driven broadcasts

In partnership with Liga MX and its suite of domestic and international broadcasters, Genius Sports will power augmented altcasts to engage the next generation of fan. Real-time game insights including shot and player speeds, player names, pitch minimaps, number of tackles and much more, will be integrated directly into live broadcasts for millions of fans.

GeniusIQ-by-Genius-Sports

GeniusIQ has a complete, semantic understanding of what is happening on the pitch at any moment. Because it can automatically detect what counts as a shot on goal, it immediately serves a shot speed statistic in real-time, along with a sponsor’s advertising at the opportune moment.

A new era of semi-automated offsides

Launched at the start of the ongoing 2026 Clausura season, GeniusIQ is powering the leading Semi-Automated Offside Technology (“SAOT”) in world soccer in Liga MX. When a potential offside incident occurs, the technology automates the kick point and alerts the VAR operators. Genius Sports’ system then delivers a clear 3D render showing an exact offside plane, removing the need for manual lines and providing a decision visual with the best possible angle within seconds.

Also used across the Premier League and Belgian Pro League, Genius Sports’ SAOT has already driven significant improvements across Mexican soccer with fast, transparent decisions.

Rich performance analytics at coaches’ fingertips

Liga MX teams will be equipped with Genius Sports’ Performance Studio, the most advanced analytics and video platform in world soccer.

“At Liga MX, we are very happy to close this partnership with Genius Sports, as it represents a significant step in elevating our competition to the standards of the world’s leading leagues,” said Edgar Martínez, VP of Content at FMF. “From a sporting perspective, SAOT technology enhances fairness and transparency on the field. At the same time, from a fan and consumption standpoint, the use of advanced data and augmented reality integrations will transform how audiences experience the game.”

Coaches and analysts from each team will have access to a suite of performance and analytics tools to enhance everything from training to tactics and player development. This includes Genius Sports’ state-of-the-art ProView3D feature, which enables coaches to step into their players’ shoes and review critical match moments, such as a striker before taking a shot or a fullback preparing for a 1v1.

“Liga MX is the most-watched soccer league in the United States and a growing force in North American sport,” added Sean Conroy, EVP, North America at Genius Sports. “The deployment of our next-generation data and AI platform, GeniusIQ, will connect every part of that ecosystem, delivering world-leading SAOT while enriching the broadcast and creating premium new commercial inventory for sponsors. This partnership gives Liga MX the infrastructure to grow the league on and off the field.”

Wynn Macau grants equity incentives to 297 staff members

Wynn Macau granted share-based awards to 297 employees on May 4th, 2026, under its Employee Ownership Scheme, allowing participants to subscribe for a total of 297,000 shares, according to a company filing.

The awards represent approximately 0.01 percent of the company’s issued share capital and are subject to acceptance by the selected participants. Each award carries no purchase price, while the closing share price on the grant date was HK$5.60 ($0.72).

The awards will vest in two equal tranches, with 50 percent scheduled for May 4th, 2029 and the remaining 50 percent on May 4th, 2030. The grants are not subject to performance targets.

Under the scheme’s terms, awards will lapse if an employee’s service is terminated due to resignation, misconduct, or breach of company policies or applicable laws. The company confirmed it has not provided financial assistance to employees to facilitate share purchases.

The company said the scheme aims to align employee and shareholder interests, motivate staff, and recognize contributions to long-term growth. The remuneration committee considers the grant consistent with market practice and the scheme’s objectives.

None of the recipients are directors, senior executives, or substantial shareholders, and all grants fall within regulatory limits, the filing added.

Sands China rewards workforce with Rua das Estalagens SME Food Fest at The Londoner Macao

Sands China held the “Food Fest of Awarded SMEs for Rua das Estalagens” for the second consecutive year from April 22 to 28, bringing awarded SMEs into The Londoner Macao’s back-of-house areas to showcase their signature dishes to the resort’s large workforce.

With the launch of the Community Revitalisation Series – Entrepreneurship Recruitment Programme for Rua das Estalagens in April 2024, the company has provided financial support and a series of practical, multifaceted support measures to local SMEs for establishment in Rua das Estalagens.

Combined, the two editions of food fest attracted 11,000 team members who showed their support for local SMEs through practical actions, continuing the company’s business philosophy of growing with SMEs.

The shops offered a variety of signature treats during the event, including Café Fantart’s flaky egg tarts in original and curry beef flavours, Voyage Thai Kitchen’s handmade pandan layer cakes and bottled Thai milk tea, PANPAN’s savoury pistachio chocolate buns, and Catfee’s fragrant Ethiopian natural ice drip coffee, creating a vibrant on-site atmosphere.

“Sands China remains fully committed to supporting the Macao SAR government’s direction of promoting the community economy and the sustainable development of local SMEs,” said Dr. Wilfred Wong, executive vice chairman of Sands China Ltd. “In the revitalisation of Rua das Estalagens, we consistently monitor the progress of the businesses and provide various promotional and sales platforms for their participation. Last year, the response to the first food fest at The Venetian Macao was overwhelming, and we are pleased to hear that the SMEs valued the promotional results.”

“This year, we are delighted to bring the event to the back-of-house area of The Londoner Macao. Across both editions, 11,000 portions of food and drinks have been distributed, providing a broad platform for SMEs while allowing our team members to experience the craftsmanship and creative cuisine of local SMEs. Two years since the launch of the entrepreneurship recruitment competition, we are gratified to see these businesses growing steadily and demonstrating maturity, which validates the effectiveness of ‘large businesses leading small businesses’ and highlights the adaptability of Macao SMEs.”

In addition to the food fest, Sands China has also distributed the shops’ discount vouchers to runners in the Sands China Macao International 10K for two consecutive years and provided free booths at Macao’s largest sales event, the Sands Shopping Carnival.

These initiatives allow local SMEs to step beyond the neighbourhood and reach a broader audience of residents and tourists, thereby strengthening their brand promotion and market competitiveness.

As a vital component of Sands China’s community revitalisation efforts, the Entrepreneurship Recruitment Programme for Rua das Estalagens is an extension of two successful Sands China programmes: the F.I.T. programme and the Sands Resorts Incubation Centre.

Since the April 2024 launch of the Entrepreneurship Recruitment Programme, Sands China has utilised precise support measures to encourage Macao businesses to establish themselves on Rua das Estalagens and drive the area’s economic vitality.

The inaugural phase received an enthusiastic response with 128 applications, resulting in seven successful entrepreneurship proposals that have since injected innovative elements into this historic district to help restore its traditional charm and prosperity.

Sands China Ltd. upholds its commitment to working hand-in-hand with the Macao SAR government and all sectors of society to drive revitalisation projects and stimulate the community economy through diverse initiatives.

Melco publishes 2025 Sustainability Report: RISE to Go Above & Beyond

Macau gaming operator Melco Resorts & Entertainment has released its 2025 Sustainability Report, titled “RISE to Go Above & Beyond”, highlighting key progress in environmental responsibility, community involvement and robust corporate governance.

Lawrence Ho, Chairman and CEO of Melco Resorts & Entertainment
Lawrence Ho, Chairman and CEO of Melco Resorts & Entertainment

“Since launching our RISE sustainability strategy in 2019, our ambition has been clear: to integrate sustainability into how Melco operates, not as a parallel agenda, but as part of the business itself,” said Lawrence Ho, Chairman and CEO of Melco Resorts & Entertainment. What began as commitments and targets has evolved into systems and practices embedded into how our Colleagues work on a day-to-day basis.”

Demonstrating a commitment to rigorous disclosure, the 2025 report adopts a double materiality assessment, ranking sustainability issues by their impact on Melco’s global value chain and influence on its enterprise value. The Company has integrated its Task Force on Climate-related Financial Disclosures (TCFD) responses into the IFRS S2 framework, and achieved external verification for all environmental data, including Scope 1, 2, and 3 greenhouse gas (GHG) emissions. 

Melco publishes 2025 Sustainability Report RISE to Go Above & Beyond
Restoring Our World 
  • Energy efficiency measures across all properties have accumulated annualized savings of over 71.7 million kWh, equivalent to the electricity consumption of over 10,000 homes;
  • Water efficiency measures have accumulated annualized savings of over 290,000m³, equivalent to saving 116 Olympic-sized swimming pools of water;
  • Solar panels installed across properties generate close to 10,000MWh annually, equivalent to powering 1,900 households per year;
  • Electric and hybrid vehicles represent 65% of the total fleet, with 154 electric charging stations across all properties;
  • Waste diversion rate from recycling and composting has increased from 4% to 18% since 2019;
  • Composted over 1,400 tonnes of food waste with on-site composters since 2019;
  • Installed Winnow AI technology to track food waste in employee dining rooms. Plate waste on average across properties in Macau and Manila reduced by 4% in grams per cover in 2025 compared to previous year;
  • Recycled over 1.7 tonnes of playing cards across Macau, Manila and Cyprus in 2025.
City-of-Dreams-Macau-Melco-Resorts
City of Dreams Macau
Local Community Support
  • Mobilized over 4,100 team members to participate in 486 volunteering activities worldwide through the Simple Acts of Kindness program;
  • Engaged over 3,000 colleagues in Melco’s REACH! Sports initiatives to promote physical health, while supporting more than 700 employees through the Company’s Feel Better mental wellness seminars and individualized counseling;
  • Fostered continuous professional growth by delivering over 763,000 learning hours across over 1,400 courses, resulting in more than 783,000 training enrollments;
  • Contributed over US$19.17 million to champion local communities, support small and medium-sized enterprises (SMEs), and preserve vital culture and heritage initiatives.
Supply Chain Sustainability
  • Maintained target of sourcing 100% OEKO-TEX® certified bed & bath linen in 2025. OEKO-TEX® certification guarantees that textile products are tested and free from harmful substances, ensuring they are safe for human health and the environment;
  • Ahead of the target of procuring 50% Green or Amber rated chemicals in 2025 and achieved procurement of 80%, with Green chemicals comprising 65%. Categorized in a traffic-light rating system—Green, Amber or Red—based on the extent that these substances are persistent, bio-accumulative and toxic to human health and ecosystems; 
  • 16% of sustainable seafood was procured in 2025. The group strengthened the evaluation process of seafood sourcing in the reporting year, including through onsite audits of seafood suppliers. Internal seafood guidelines prioritize certifications by international bodies such as the Marine Stewardship Council (MSC), Aquaculture Stewardship Council (ASC), Global Aquaculture Alliance-Best Aquaculture Practices (BAP), the GLOBAL G.A.P Aquaculture Certification and other standards;
  • 97% cage-free whole eggs procured in 2025. Cage-free eggs are produced by hens that are free to roam inwere barns and natural environments, rather than being confined to small cages.
Driving Business Excellence
  • In 2025, the Environmental Sustainability and Corporate Social Responsibility (ESCSR) Committee was established at the Board level;
  • Aligned the Company’s Enterprise Risk Management and double materiality processes;
  • For global data privacy oversight, in the reporting year, we deployed the Endpoint Detection and Response (EDR) system across all operations, enhancing threat detection, responsiveness and cyber resilience;
  • Strengthened the group’s cybersecurity technical response capabilities by expanding our cross-functional Information Security and IT team.
Ratings, Awards & Recognition 

Melco’s commitment to a climate-fit and equitable future remains steadfast as it continues to integrate industry-leading sustainability practices across the Company’s global operations. 

The CEO of Melco, Lawrence Ho, added: “Maintaining consistency in how we govern, operate, and deliver requires continued discipline and a clear understanding of both the opportunities and the constraints ahead. Together with our teams and our ecosystem of suppliers and partners, we are committed to enhancing the positive impact we can create.”