The Star Entertainment has confirmed it remains in talks with its banks over debt covenant waivers, saying it rejected lender demands it considered ‘unacceptable’ as the casino group faces a high-stakes standoff over AU$430 million ($278.5 million) in loans.
In a statement on Wednesday responding to media reports, the ASX-listed company said it ‘has been, and continues to be, in discussions with the SFA lender group in respect of potential covenant waivers for September 30th and December 31st 2025’.
It said lenders had proposed terms in exchange for those waivers which were ‘in aggregate, unacceptable to The Star’.
The company added that it plans to lodge unaudited accounts for the six months to June 30th on August 29th, with audited results expected by September 30th.
The reply followed a report in the Australian Financial Review detailing a dispute between Star and lenders, including Washington H Soul Pattinson, Macquarie and Deutsche Bank.
The group is seeking waivers to avoid breaching loan covenants after sharp financial deterioration in recent years. The Star has been hit by a AU$100 million ($64.8 million) penalty in 2022 over money-laundering breaches and remains under regulatory scrutiny.
At the same time, US operator Bally’s has tabled a AU$300 million ($194.4 million) takeover bid, which has received backing from Star’s board but will require regulatory and shareholder approval.
This month The Star has also ‘entered into binding long-form documentation’ with its JV partners Chow Tai Fook Enterprises (CTFE) and Far East Consortium (FEC) to dispose of is interest in Destination Brisbane Consortium (DBC).
The Ad Standards Council (ASC) honored Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Alejandro H. Tengco for his leadership in promoting responsible advertising in the gaming industry during the council’s Patas na Patalastas Summit in Makati City.
Tengco received a Plaque of Appreciation from the ASC, recognizing his efforts to ensure ethical and truthful gambling-related advertisements. The PAGCOR chief emphasized that the recognition belonged not only to him but also to PAGCOR employees who remain committed to fairness, truth, and accountability in their duties.
“Industries like ours carry an even greater responsibility to protect public trust,” Tengco stated during the ceremony. “Our partnership with ASC ensures that gambling-related advertisements are not only creative and compelling but also ethical, truthful, and mindful of their impact on society.”
The recognition comes months after PAGCOR and the ASC signed a memorandum of understanding in July that formalized their collaboration on gambling advertisement regulation. Under the agreement, all gambling-related advertisements across television, radio, online, and outdoor platforms must undergo ASC review and approval before public release.
The MoU added gambling to the ASC’s list of ‘must-screen’ categories, joining alcoholic beverages, over-the-counter medicines, food supplements, airline services with promotional fares, and breast milk substitutes. The measure aims to curb misleading content and protect vulnerable groups from potential harm.
As part of stricter regulatory measures, PAGCOR also ordered the removal of all outdoor gambling billboards last month. Tengco described these actions as proof that “when it comes to protecting the public, we will always choose to do what is right.”
Tengco commended the ASC for its role in upholding truth, decency, and accountability in Philippine advertising. The ASC summit brought together regulators, advertisers, and industry stakeholders to reinforce collaborative efforts in ensuring truthful, ethical, and accountable advertising practices in the Philippines.
Asia Pioneer Entertainment said Wednesday it returned to profit in the first half of 2025, as demand for electronic gaming equipment in Macau and Asia lifted revenues despite higher costs and weaker contributions from some services.
The Hong Kong-listed gaming supplier posted a net profit of HK$24,959 ($3,209) for the six months to June 30th, compared with a loss of HK$0.6 million ($77,000) a year earlier, according to its unaudited interim results.
Group revenue climbed 15.7 percent to HK$23 million ($2.96 million), up from HK$19.9 million ($2.56 million) in the same period of 2024, supported by a 39.6 percent surge in technical sales and distribution of gaming machines to HK$19.3 million ($2.48 million).
The company said this reflected steady orders from Macau’s six casino concessionaires, as well as regional demand from land-based casinos in Asia.
Gross profit increased to HK$10.9 million ($1.40 million) from HK$9.4 million ($1.21 million), with margins little changed at 47.5 percent. Operating expenses rose 6.8 percent to HK$11 million ($1.41 million), driven by higher staff and travel costs, while staff numbers edged up to 39 from 38.
Other revenue streams were less robust. Consultancy and technical services fell 45.2 percent to HK$2.5 million ($322,000), repair services contracted 54.8 percent to HK$0.2 million ($26,000), and product sales through smart vending machines slipped 27.2 percent to HK$0.7 million ($91,000).
Leasing of vending machines, however, jumped nearly fourfold to HK$0.3 million ($41,000), showing signs of traction in the business line.
The group, which has supplied gaming machines in Macau since 2005, said it expects momentum to continue into the second half of 2025 as casinos expand orders for new equipment.
‘We believe this resurging growth will continue in the second half of 2025 and beyond as casinos strengthen their financial positions’, the company headed by Herman Ng noted. ‘We are working with suppliers to introduce new products and technologies to meet the growing demands of the mass gaming market.’
Asia Pioneer said it remained debt-free as of June 30th, with net current assets of HK$16.8 million ($2.16 million) compared with HK$16.2 million ($2.08 million) at the end of 2024.
The group added that it was seeking to broaden its portfolio by developing new casino-related products, both for gaming operations and marketing.
Platipus Gaming, a global game provider for online casinos, signed a strategic partnership with Alea, the Spanish-based leading aggregation platform in Europe and the LatAm regions.
Latin America is a key strategic priority for Platipus in 2025, as the region’s fast-growing iGaming market offers both scale and strong growth potential. The company already has a presence in several territories across Latin America, and its latest partnership with Alea will further strengthen its position in Peru, Argentina, Brazil, Chile and beyond.
Ramon Glieneke
“At Alea, we see partnerships like this as true cornerstones of our growth and the value we deliver to operators. Platipus’ creativity, innovation, and dedication to quality perfectly align with our mission to provide operators in Europe and Latin America with the most engaging content through the most reliable aggregation platform. This collaboration is more than a commercial agreement; it’s a shared commitment to helping each other grow and succeed in the markets where we lead,” said Ramon Glieneke, COO at Alea.
This alliance opens up new opportunities for Platipus to grow strategically in Latin America, as well as in some European countries. Due to Alea’s strong reputation among local operators, Platipus gains access to an extensive network of trusted partners. This will help accelerate integrations, optimize entry into new markets, and ensure a smoother, faster go-live process for its games.
Stanislav Mykhailov
“Partnering with Alea brings us closer to our main goal – to provide an exceptional gaming experience to players around the world. This time, we are pleased to introduce even more players from Europe and Latin America to our exciting gaming portfolio,” shared Stanislav Mykhailov, Platipus Gaming CCO.
This multi-regional partnership between Platipus Gaming and Alea demonstrates strategic flexibility and geographic diversification. Moreover, this alliance allows to cover the players both from Latin American and European markets, and reach a wider audience globally.
Platipus continues building its global presence in the frames of its expansion strategy and remains committed to being a reliable partner helping to deliver high-quality experiences for the players worldwide. The Company plans to expand its presence in new countries in the region, strengthen existing partnerships and launch even more personalized content to meet the specific needs of each market. Platipus Gaming will continue to invest in innovation, quality and strategic partnerships to accelerate its growth.
Good Morning. ‘What happens in Colombo…’ could be Sri Lanka’s new tourism slogan, as the nation aims to significantly improve visitation by leveraging its casino offerings. The opening of City of Dreams Sri Lanka has highlighted the need for regulatory oversight and the focus on affluent Indian and Chinese clients. But its success depends on more than legislation and expectation. Moving to the world’s gaming hub, Macau could see a rise of up to 15 percent in GGR for 2H25, according to analysts, as August results are tracking well, driven by strong visitation.
Winning Trust, Stopping Fraud. Asia Pacific’s iGaming market is expanding extremely fast, and a new wave of digital-savvy players is pushing demand through the roof. But the rise in adoption has outpaced regulation in many markets, and fraudsters have taken notice.
Satellite casino operator Macau Legend is expecting to record a loss of approximately HK$1.42 billion ($182.32 million) for the first half year as its casino is going to shutter by the end of 2025.
According to a company filing with the Hong Kong Stock Exchange, the company’s subsidiaries which operate Macau Fisherman’s Wharf – where its Legend Palace Casino is located – suffered a ‘significant impairment loss’ of approximately HK$1.28 billion ($165.25 million) ‘as a result of the non-renewal of service agreement with SJM Resorts upon expiry on 31 December 2025’.
Legend Palace is one of the nine satellite casino operations closing by the end of the year, with concession holder SJM only aiming to hang on to two satellite operations: Ponte 16 and L’Arc.
The group’s latest profit warning also indicates that the group saw a 12 percent drop in revenue for 1H25, ‘mainly attributable to the decrease in revenue from gaming related operation’.
Even despite the blow dealt by the upcoming loss of its Macau gaming operation, the company was already in financial difficulties. Excluding such an impact, loss for 1H25 is expected to increase by 21 percent, or approximately HK$23 million ($2.95 million), as it saw a decrease in adjusted EBITDA from its gaming related operation of ‘approximately HK$30 million ($3.85 million)’.
In July, Macau Legend announced plans for a share consolidation, shifting from 10 billion shares amounting to HK$1 billion ($127.4 million) into 1 billion shares worth HK$1 ($0.13) each. After the consolidation there would be some 620.11 million consolidated shares in issue ‘which are fully paid or credited as fully paid’.
The group notes that the consolidation ‘will not alter the underlying assets, business operations, management or financial position of the company or the proportionate interests or rights of the shareholders’.
The group is expecting that the share consolidation could become effective by September 4th, after which trading will only be in consolidated shares.
As of the end of 2024, Macau Legend reported HK$2.07 billion ($265.41 million) in bank borrowings and HK$339.4 million ($43.57 million) in shareholder loans either due within 12 months or repayable on demand, despite holding HK$52.3 million ($6.68 million) in cash and bank balances.
Sri Lanka’s president is betting on casinos to fuel the country’s tourism recovery, aiming to lift the industry’s contribution to 10 percent of GDP as the island nation seeks to rebuild its economy after the devastating financial collapse of 2022 and 2023.
Sri Lanka’s president Anura Kumara Dissanayake
According to Reuters, President Anura Kumara Dissanayake, who completes one year in office next month, has made high-end gaming central to his strategy for attracting affluent visitors from India and China. The government hopes tourism will eventually account for 10 percent of GDP, up from about 4 percent last year, with casinos playing a key role in achieving this ambitious target.
This push is part of Sri Lanka’s broader aim to raise tourist arrivals by 50 percent to 3 million this year, potentially lifting revenues from the industry to $5 billion from $3.7 billion last year, deputy tourism minister Ruwan Ranasinghe told the agency.
New regulatory framework provides foundation for growth
To support this expansion, Sri Lanka’s parliament unanimously passed legislation on August 22nd to establish the Gambling Regulatory Authority. The bill creates an independent oversight body aimed at standardizing betting and gaming operators within the country while developing tourism and growing the economy.
“The passing of the Gambling Regulatory Authority Bill marks an important milestone for Sri Lanka’s tourism and investment landscape,” Dharshana Weerakoon, a tourism and hospitality specialist told AGB. “Establishing an independent oversight body provides the necessary foundation to regulate casinos and betting operations in a transparent and structured way, which is essential for both investor confidence and public trust.”
The new regulator will license casinos and ensure their compliance with regulations, including anti-money laundering requirements. Currently operating casinos will be given time to come under the oversight of the new regulatory body.
City of Dreams marks new era for Sri Lankan gaming
Meanwhile, earlier this month saw the inauguration of the $1.2 billion City of Dreams Sri Lanka in Colombo – South Asia’s first integrated resort. The project represents a joint venture between John Keells Holdings and Melco Resorts & Entertainment.
Located on Colombo’s beachfront, City of Dreams features 800 rooms, a luxury mall, and conference facilities that investors anticipate will attract affluent visitors. “It is a total greenfield market,” Melco Chairman and CEO Lawrence Ho told Reuters. “I think we are barely scratching the surface in terms of the tourism potential and also the integrated resort gaming potential of this country.”
Sri Lanka deputy tourism minister Ruwan Ranasinghe
Sri Lankan Minister Ranasinghe expects Indians to be the main arrivals for the next decade. This positioning makes strategic sense, as India, the world’s most populous country, permits casinos only in a few designated locations, while China restricts all legal casino operations to Macau.
Indians made up nearly a quarter of the 2 million tourist arrivals in Sri Lanka last year, while Chinese visitors accounted for 7 percent. Sri Lanka maintains close economic ties with both New Delhi and Beijing, and citizens of both countries benefit from visa-free entry.
“Tourism plays a very significant role for us to get out of these economic issues that we have,” Ranasinghe said. “So these couple of years we are working more on short-term targets and getting traffic, but in the long run, our plan is to go for quality, more sustainable, and high-end tourism and casinos and gambling will be a segment of that.”
Balancing growth with responsibility
However, success will depend on careful implementation. Weerakoon stressed that the new regulatory framework must prioritize social responsibility alongside economic growth.
Dharshana Weerakoon, a specialist in tourism and hospitality
“The experience of other markets like Macau and Singapore shows that success depends on more than just passing legislation,” he told AGB. “Strong compliance, independent decision-making, and effective enforcement will be critical in preventing risks such as money laundering and problem gambling.”
The legislation has drawn some criticism from experts for granting extensive powers to the finance minister, excluding state-run lotteries from oversight, omitting tourism industry representation in the authority, and imposing low penalties for violations. Nevertheless, the government defends the legislation as vital to reduce social harm and raise employment while promoting the industry.
Tourism currently ranks as the third biggest dollar earner for Sri Lanka after remittances and apparel exports. The central bank forecasts full-year economic growth of about 4.5 percent, partly driven by strong tourism numbers – sharply higher than the World Bank’s April projection of 3.5 percent.
Kangwon Land, South Korea’s only casino open to locals, will attend a two-day forum in Osaka starting August 27th, 2025, to study Japan’s integrated resort strategy and counter rising regional competition.
The Korea Bizwire cites analysts’ warnings that Japan’s planned multibillion-dollar resort in Osaka, set to open by 2030, could attract 7.6 million Korean visitors annually, potentially diverting KRW2.6 trillion ($1.9 billion) in domestic spending.
MGM Resorts, Osaka IR, Japan
The forum, hosted by the Korea Casino Tourism Association and the Korea Tourism Society, will bring together about 50 officials, academics, and industry experts to assess the impact of Japan’s resort on Korea’s casino and tourism sectors.
Kangwon Land’s acting casino chief, Han Geum-seok, is expected to advocate for regulatory easing to boost Korea’s competitiveness. The company is advancing its “K-HIT Project 1.0” to transform its highland resort into a world-class integrated resort by 2032, featuring wellness offerings, landmark attractions, and a leisure and sports complex.
As reported by AGB, Kangwon Land announced a KRW2.5 trillion ($1.8 billion) expansion in April 2024 to triple its casino space to 49,500 square meters by 2032 and upgrade hotel capacity and non-gaming facilities. The company aims to increase non-casino revenue from 13 percent to 30 percent by 2032, aspiring to become Korea’s equivalent of Las Vegas.
Acting CEO Choi Cheol-gyu emphasized the need for innovation to maintain competitiveness and support the regional economy. Kangwon Land’s efforts aim to counter growing competition from Southeast Asian countries – such as Singapore, Vietnam, and the Philippines – which have boosted tax revenues, jobs, and tourism through casino developments.
Relax Gaming, the iGaming aggregator and supplier of unique content, is taking players on a divine adventure above the clouds in its latest release, Aura God.
This celestial 6×6 tumble slot offers 46,656 ways to win and a top prize of 10,000x the player’s stake.
In this celestial quest, players will encounter the thrilling Mystery Reveal feature, where Mystery Frames and Mystery Symbols combine to unveil paying symbols or coins worth up to 100x. Clearing all stone blocks in the main game triggers six free spins, with a choice between two distinct bonus modes, Persistent Golden Frames or the Multiplier Ladder.
Persistent Golden Frames stay on the reels between spins and can expand with each cascade, while the Multiplier Ladder ramps up the rewards, climbing all the way to a staggering 100x multiplier. Players who unlock Super Free Spins will see both features combined.
Adding to the excitement, any spin can become a Golden Spin, increasing the chance of triggering the game’s most powerful bonus. Upgrade Spins and Buy Features are also available for those eager to reach the heavens faster.
Tony O’Mahony, Chief Product Officer at Relax Gaming, said: “Aura God is a visually stunning and feature-packed release that delivers thrills from the very first spin. By combining powerful mechanics like the Mystery Reveal, Persistent Golden Frames and the Multiplier Ladder, we have created a game that offers huge win potential and plenty of variety to keep players engaged. This is one of our most ambitious tumble slots yet, and we cannot wait to see how it performs.”
Leading games provider BetGames has continued to expand its slot portfolio with the launch of two new titles, Bling Bonanza and Respin Riches.
Bling Bonanza takes players on a high volatility modern treasure hunt, featuring a luxurious theme. The 5×3 grid offers a max multiplier of 5,000x and a host of engaging features.
The game’s Hold & Win feature leads the way, offering players a chance to win significant prizes. Bling Bonanza also includes a free spins round where high-paying symbols are prominent, as well as instant bonuses, a gamble feature, and a bonus buy option for specific markets.
BetGames has also launched Respin Riches, a medium volatility slot with a wealth theme. This 5×3 game features a unique win both ways mechanic and respin with expanding wilds feature, which is triggered when a wild symbol lands on the reels. These features, combined with a gamble option, are designed to create a captivating and rewarding experience.
Both titles have been developed with BetGames’ signature customisable branding and variable RTP options, allowing operators to tailor the games to their specific market needs.
The double launch marks the latest content that builds on BetGames’ impressive entry into slot provision and strengthens its ever-growing portfolio.
Ian Catchick, Chief Product and Business Development Officer at BetGames, said: “We’re excited to be bringing two more exciting slots to our partners. Bling Bonanza and Respin Riches demonstrate our commitment to creating diverse and engaging content that appeals to a wide range of players.”
