Crown Resorts is inching closer to the AU$80 million ($52 million) sale of a penthouse in its Sydney skyscraper, at a lower valuation than initially hoped.
According to the Australian Financial Review, a local buyer has their sites on the six-bedroom apartment on the 81st floor of its One Barangaroo tower.
The 8,600-square foot duplex has been priced approximately AU$20 million ($13 million) below initial expectations, having been on the market since at least 2021 after the tower’s completion.
The Barangaroo complex was initially aimed at attracting high-scale investment and casino game play, largely focused on opulent Chinese VIP clients. However, crackdowns on Crown’s activities regarding junket activities and other AML concerns, alongside a downturn in the Chinese economy dampened sentiment, in particular for gaming.
The Crown Sydney casino is now open to members only and the company has undergone high-level management restructuring, after facing fines and increased oversight.
The sale of the penthouse, reportedly Sydney’s second-most expensive apartment, is a boon for Crown in its ongoing image change.
Crown Towers Sydney is the city’s fourth-tallest building, standing over 270 meters and encompassing 75 floors of luxury residences, apartments, infinity pools and its casino.
Crown Residences in One Barangaroo encompasses 76 private residences.
All 11 of Macau’s remaining satellite casinos will close by December 31st, 2025, the government confirmed in a press conference, marking the end of an era in the city’s gaming industry.
The move also includes the closure of three Mocha Club slot lounges run by Melco Resorts, though authorities downplayed any major impact on gross gaming revenue (GGR) for 2025.
At a press conference, Secretary for Administration and Justice André Cheong said the closures were the result of decisions made by the three involved concessionaires — SJM Resorts, Melco Resorts, and Galaxy — and not due to government intervention.
“It is a commercial decision, and they decided to close the properties,” he said. “We don’t believe it will have an effective impact on GGR, but on the other hand, it will have a positive impact on their operations.”
The government had already downgraded 2025 GGR projections by MOP12 billion ($1.5 billion) in its recent budget proposal, but attributed the decline mostly to changes in mainland visitor consumer habits.
The closures come ahead of the expiration of the three-year transitional period granted under Macau’s amended gaming law (Law 7/2022), which allowed satellite casinos — gaming operations located in third-party-owned properties — to continue until the end of 2025. After that deadline, operators can no longer share gaming revenues with property owners.
According to Ng Wai Han, Director of the Gaming Inspection and Coordination Bureau (DICJ), the 11 satellite casinos together account for around 480 gaming tables and 270 slot machines.
Among the affected properties are SJM Resorts’ Casino Grandview, Casino Legend Palace, Casino Fortuna, and others, as well as Casino Grand Dragon, operated by Melco Resorts, and Casino Waldo, operated by Galaxy Casino.
Prior to the press conference the affected gaming operators issued announcements revealing the closures.
Melco will also shut down three of its six Mocha Clubs slot machine parlors — Grand Dragon, Royal, and Kuong Fat — by year-end. The remaining three will continue to operate through third-party management arrangements.
SJM Resorts, meanwhile, is considering acquiring the casino segments of Casino Ponte 16 and Casino Le Royal Arc and may apply to operate the casinos as directly-managed properties. “SJM wants to acquire two hotels (casinos). If they will continue operating, it is a commercial decision by SJM,” Cheong said.
While no specific closure dates have been disclosed beyond the December 31st cutoff, Cheong emphasized that the government acted quickly once the concessionaires finalized their decisions.
“Since it impacts a large number of workers, the minute we got a decision, we decided to announce it so a resolution on the workers can be reached as early as possible,” he said.
The Labor Affairs Bureau (DSAL) estimates about 400 nonresident workers are currently employed in these satellite casinos, together with 5,600 local workers – 4,800 employed directly by the gaming operators and 800 by the properties themselves.
DSAL Director Chan Un Tong said efforts are underway to support displaced workers.
“We have created a work committee and found many job offering opportunities that can be directed to these workers. We will also organize job matching sessions with the six gaming operators,” he said.
Cheong reaffirmed the government’s commitment to ensuring that staff are not left without support. “The thing we care about the most is that those workers do not pass by a period of unemployment between any changes”.
Authorities also said the impact on the broader economy and small businesses near the affected casinos is being closely monitored.
Impact on surrounding SMEs
Secretary for Economy and Finance Tai Kin Ip noted that an inspection of surrounding businesses found 320 small- and medium-sized enterprises (SMEs) employing about 800 people.
“Maybe half of the stores will be impacted, especially pawnshops, jewelry stores, or tobacco, liquor stores, and restaurants. But maybe 70 percent will not be impacted directly, because they depend mostly on tourists,” Tai said.
He added that the Monetary Authority of Macau (AMCM) is working with banks to help SMEs ease potential credit risks, and described the situation as “a challenge but an opportunity for renewal.” The government plans to support affected businesses that wish to continue operating.
As for the banking sector, Tai said employee mortgages pose minimal risk. “Mortgages are only 1 percent of the bank activities so there is not much risk for the sector. The risk supervising department also assessed that the risks are not high,” he said.
Government officials made it clear that the decisions to shut down were made independently by the gaming operators. “The three gaming operators have already made their decision […] they have needed to think about whether it has a good contribution to their revenue,” Cheong said.
The Philippines Senate has passed the Anti-POGO Act of 2025, institutionalizing the ban on Philippine Offshore Gaming Operators (POGOs) in the country.
The bill was met with zero negative votes and zero abstentions on its third and final reading by the Senate on Monday. It comes even after the Philippines outlawed POGO activities by Executive Order from December 31st of 2024.
The bill was prepared by the Committees on Ways and Means and Labor Employment and Human Resources Development, and authored by Senators Sherwin Gatchalian, Risa Hontiveros, Bong Go, Raffy Tulfo, Pia Cayetano and Grace Poe.
The new legislation repeals Republic Act 11590 under which offshore gaming was legalized.
Speaking of the bill, Senator Gatchalian noted that “This isn’t just a law, it’s the people’s demand to end the POGO menace”.
The new bill prohibits ‘any person or entity to conduct or offer offshore gaming’, including establishing offshore gaming in the country; accepting ‘any form of betting for offshore gaming operations’; ‘acting as a POGO gaming content provider or POGO service provider’; creating POGO hubs or POGO sites in the Philippines and introducing, using or possessing POGO gaming equipment.
It further prohibits registering companies used to ‘conceal offshore gaming operations’ leasing properties, vehicles, computer systems or digital platforms for the use in the prohibited acts; as well as prohibiting the assistance of entry or exit to the country for individuals using fake or inaccurate travel documents for the purpose of POGO activities.
The bill revokes all power for the Philippine Amusement and Gaming Corporation (PAGCOR) and other authorities to license or permit offshore gaming.
The penalties for breaking the law rise up to 12 years imprisonment and a fine of up to PHP50 million ($896,000). In the case that the offender is a public official or employee, ‘the maximum of the applicable penalty shall be imposed’. For foreigners, they shall be deported after serving their sentence and be forever barred from re-entering the Philippines.
In addition, the bill mandates that all ‘POGO buildings or other structures or facilities, materials, POGO gaming equipment, and POGO gaming paraphernalia’ used in violation of the act, along with proceeds, ‘shall be forfeited in favor of the government’. The related POGO gaming equipment and POGO gaming paraphernalia ‘shall be destroyed by the seizing authority’.
Macau legacy gaming operator SJM has announced that it is going to be acquiring two casino properties in which it operates satellite casinos and will shutter seven others at the end of this year. SJM has the largest number of satellite casinos of the three operators which are engaged in satellite activities.
According to a company release, SJM’s board ‘has concluded the intention to acquire the properties where Casino L’Arc Macau and Casino Ponte 16 are located’. Despite the announced intention, the group notes that ‘the potential acquisitions have not yet commenced, and no binding agreements have been reached’.
L’Arc Macau
The company further announced that it plans to not continue operations at the satellite casinos located in Casa Real, Emperor Palace, Fortuna, Grandview, Kam Pek, Landmark and Legend Palace.
The group indicated that ‘regardless of the outcome of negotiations […], all gaming tables and slot machines from affected satellite casinos will be reallocated to SJM Resorts’ self-owned casinos.
The operator also assured that ‘all Macau residents currently working at the satellite casinos scheduled for closure […] will be offered job opportunities within SJM Resorts’ portfolio of properties’.
Negotiations to ensue
Under the new satellite casino legislation, gaming operations at the venues would only be allowed to continue if the casino property is owned by the operator, or if there is a management contract established with the property owner under which the owner gets a fixed fee and not a portion of gross gaming revenue.
Ponte 16
Currently the casino at Ponte 16 is operated by Success Universe, under SJM’s gaming license. Success Universe had not previously indicated that it was intending to relinquish its profit share from the operation of the casino.
The casino at L’Arc is operated under a service agreement with SJM Co-Chairman Angela Leong which encompasses ‘services and licensing for occupation and use of the designated area in the L’Arc Hotel to SJM for the operation of a casino’.
Under the law, SJM will only be required to acquire the casino space, and not the entire property in which the casino is located – similar to how Melco owns the casino space in Studio City despite not fully owning the entire property it is located in.
Regarding the properties scheduled to cease gaming operations, Kam Pek is operated under Paradise Entertainment (which halted trading on the HK Stock Exchange on Monday), Emperor Palace is operated by the Emperor Group, Landmark is linked to a Macau businessman (after being sold by Macau Legend), Legend Palace is operated by Macau Legend, while Fortuna is linked to a Macau company, while Casa Real and Grandview are under the Kingston Financial Group.
SJM informs that the board ‘does not expect the restructuring to have any material adverse effect on the Group’s operations, liquidity, or profitability’.
Agreegain, the one-stop casino solutions provider, has expanded its content offering through a new partnership with Platipus, the renowned EU-based online game development studio.
Founded in 2014, Platipus has built an impressive global reputation, with a portfolio of 150 high-performing titles that blend artistic flair with cutting-edge technology to deliver games that thrill and engage.
As part of the deal, Agreegain will bolster its games offering with Platipus’ visually stunning, feature-rich HTML5 slot and table games, including Wild Spin, 7&Hot Fruits, Pirate’s Legacy, and Urban Neon, which will be made available to operator partners via a seamless API.
Licensed by the MGA and certified in Italy, Romania, Latvia, Lithuania and more, Platipus is active in regulated and emerging markets across Western and Eastern Europe, the Balkans, and Asia. Games are localised in over 20 languages and tailored for scalability across diverse markets.
Maria Afzaal, Senior Partner Manager at Agreegain, said: “Platipus is a proven content provider with real global momentum. Their commitment to high-quality game development, fast-paced monthly releases and market reach makes them an ideal partner for Agreegain. We’re thrilled to bring their titles to our platform and strengthen our content offering further.”
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Pragmatic Play, a leading content supplier to the iGaming industry, has swapped the sea for the ring in Big Bass Boxing Bonus Round, where two free spins bonus meters can deliver heavyweight wins.
Landing 3-5 scatters triggers the bonus game with 15-25 free spins. During the feature, wilds collect all cash prizes that hit on the same spin. Blue and red wilds are collected in their respective bonus meters, with every fourth wild of each colour awarding 10 additional free spins and increasing the win multiplier to 2x, 3x, and 10x for the second, third, and fourth retrigger.
If either wild lands on the reels with no visible money symbols, the knockout feature can randomly activate, transforming all symbols on the grid for another chance to win.
Big Bass Boxing Bonus Round is the latest addition to Pragmatic Play’s award-winning slots series, following the release of Big Bass Bonanza 1000 in April.
Irina Cornides, Chief Operating Officer at Pragmatic Play, said: “Big Bass Boxing Bonus Round introduces a novel theme to Pragmatic Play’s popular slots series, with two bonus meters in free spins offering the chance for big-hitting wins.”
Founded by a team of industry veterans with over 20 years’ experience and young creative minds, Celestar is dedicated to further advancing the realm of slot creation.
Combining advanced mechanics, captivating storytelling, and state-of-the-art visuals, the studio’s mission is to create unforgettable gaming experiences that appeal to both seasoned players and newcomers alike.
Backed by a talented team with a wealth of expertise in game design, development and mathematics, Celestar is committed to delivering games for players of all demographics. From dynamic bonus mechanics to breathtaking graphics, every game is designed to engage and excite.
Headquartered in Malta, the company is strategically positioned to collaborate with top-tier operators, aggregators, and platforms to ensure seamless distribution and maximum reach for its games.
The studio was recently granted its Malta Gaming Authority B2B licence, ensuring its certified games can now be launched in the jurisdiction, as it takes its first steps in the industry.
Vassilis Trochalidis, CEO at Celestar, said: “Our goal is to craft slots that are not just games but experiences, titles that players will return to time and again. We are committed to bringing fresh ideas to the market, with engaging features and themes that resonate across borders. Being awarded our MGA B2B licence is an exciting milestone, and we can’t wait to immerse players in our galaxy of games that awaits!”
Melco International Development has announced that satellite operator Grand Dragon Casino and three of the Mocha Clubs will cease operations before the end of the year.
According to a company release on Monday, the satellite casino and Mocha Hotel Royal, Mocha Kuong Fat and Mocha Grand Dragon Hotel are closing after considering the company’s ‘overall development strategy and in accordance with Macau law’.
Macau’s satellite casino grace period finishes at the end of this year, before which operators have to determine their fate.
Due to the closure of the four venues, Melco notes that the relevant employees ‘will be assigned to work at other properties of Melco Resorts in Macau, which will secure continued employment for these employees within their current job duties’.
In addition, the group notes that the gaming tables and electronic gaming machines from the four venues will be ‘re-allocated to, and continue operations at, other casinos or gaming areas of Melco Resorts in Macau’.
Under Melco’s concession, it is allowed to operate in Casino Altira, Casino City of Dreams and Casino Studio City – properties that it owns.
It is also allowed to operate in seven other locations that it doesn’t own outright, including the four mentioned above.
Regarding the other three Mocha Clubs locations – Mocha Inner Harbor, Mocha Hotel Sintra and Mocha Golden Dragon – Melco indicates that it ‘will apply for the relevant authorizations and approvals’ from the Macau government ‘to continue operations after December 2025, subject to compliance with all legal and regulatory requirements’.
Under the satellite casino law, these operations will fall under a management contract, with the owners of the venues receiving the quantity defined in the contract and Melco receiving the gross gaming revenue generated by the venues.
Good Morning. Continuing in orbit. Macau’s top satellite casinos, including Casino Kam Pek Paradise, Fortuna Casino, and Ponte 16, are anticipated to continue operations beyond 2025 under a new compensation model, as reported by CLSA analyst Jeffrey Kiang. In nearby Hong Kong, the government has proposed a new regulatory framework for basketball betting, featuring a 50 percent tax on net betting turnover, following overwhelming public support.
Macau’s leading satellite casinos, such as Casino Kam Pek Paradise, Fortuna Casino, and Ponte 16, are expected to remain operational beyond 2025 under a new compensation model, according to CLSA analyst Jeffrey Kiang. These properties have demonstrated strong performance, with Kam Pek Paradise alone reporting HK$310 million in EBITDA in 2024, significantly surpassing other satellite venues. As the transition period under the 2022 gaming law ends, satellite operators will shift to a management fee structure instead of revenue sharing, but profitable casinos are likely to sustain their operations.
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The Director of the Macao Government Tourism Office (MGTO), Maria Helena de Senna Fernandes, recently highlighted the evolving landscape of tourism legislation and visitor engagement in Macau.
Speaking at a press briefing last Friday, Fernandes expressed that the current upgraded legal framework in Macau is highly accommodating for various types of hotel properties, allowing for a diverse range of investment opportunities.
“In terms of legislation, the environment is very open now,” Fernandes stated. “We revised hotel laws a few years ago, enabling not only luxury hotels but also other types of accommodations like youth hostels and capsule hotels.”
In 2022, Macau enforced a revised hotel law, which outlined the framework for hotel operations and licensing procedures in the city.
It eliminated the previous classifications of guesthouses and tourism complexes, introducing a new category called “economical accommodation establishments.” This category has simpler operational requirements and permits shared rooms and bed rentals.
The by-law also regulates the licensing process for hotels and various catering establishments.
According to Fernandes, this shift reflects Macau’s commitment to attracting a wider array of investors looking to tap into the region’s tourism potential.
In a recent interview, Lui Che-woo, chairman of Galaxy Entertainment Group (GEG), emphasized the importance of addressing hotel room shortages as Macau shifts to a more mass-market and event-oriented tourism model.
He estimated that the city requires at least 15,000 additional rooms to keep pace with rising visitor numbers, particularly focusing on mid-priced accommodations with daily rates under HKD1,000 ($127).
Macau currently boasts about 45,000 hotel rooms but welcomed 35 million visitors last year.
This disparity in capacity is notably stark when compared to Las Vegas, which has approximately 160,000 rooms for 40 million annual visitors.
To bridge this gap, Lui suggested developing Hengqin Island—three times larger than Macau—as a key solution. He highlighted that mid-priced hotels on Hengqin would allow visitors to stay there while attending Macao’s conventions, concerts, and gaming venues.
Lui also stressed the need to ease border crossing procedures between Macao and Hengqin, including implementing multiple-entry crossings and facial recognition technology to reduce wait times for tourists.
With hotel occupancy rates in Macao remaining high—averaging 90 percent in the first quarter of 2025 and reaching 95 percent during the recent five-day Golden Week holiday—the urgency for more accommodations is clear.
In addition to addressing room shortages, Fernandes discussed how MGTO is enhancing the experience for visitors.
“There are many ways for international tourists to understand and learn about Macau,” she explained. Traditional methods include informational booths at various entry points, where visitors can access brochures, pamphlets, and maps.
However, in a nod to modernity, she emphasized the availability of digital resources. “Most of our brochures are available online, and we have a dedicated application that helps visitors plan their itineraries,” she noted. This app allows travelers to prepare for their visit in advance or make plans while they are in Macao.
Looking ahead, Fernandes indicated that MGTO will continue to expand its promotional efforts. “We will enhance our outreach through both traditional and social channels, ensuring that visitors have ample resources to plan their trips effectively,” she said.
