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Galaxy donates 1,200 kg of food to Caritas Macau

Galaxy Entertainment Group StarWorld Hotel has donated over 1,200 kilograms of food and groceries to Caritas Macau in hopes of alleviating the basic food needs of underprivileged people during the pandemic, as well as to encourage team members to cherish food, reduce wastage, and to give back to the community.

During the donation ceremony, Ms. Eileen Lui, Group Director of Human Resources and Administration of GEG; and Mr. Andy Lee, Deputy Director of Operations of StarWorld Hotel represented StarWorld Hotel in donating the collected food supplies to Mr. Paul Pun, Secretary-general of Caritas Macau in hopes of reaching people in need. The food supplies, which includes rice, cooking oil, noodles, biscuits, and canned foods were collected earlier from the hotel’s team members who donated them during the food collection campaign set-up at the property’s back-of-house in support of Caritas Macau’s food recycling scheme.

Mr. Paul Pun said, “The pandemic has caused a surge in the demand for short-term food assistance, and we are thankful for GEG and its team members’ donation. These food supplies are a blessing for many people, including those who have been stranded in Macau due to the pandemic. We look forward to continuing our work with GEG and to spread love and care to the wider community.”

Melco Resorts lists notes in Macau to boost financial exchange

Melco Resorts

Melco Resorts & Entertainment has announced the listing of the 5.375 percent senior notes due 2029 on the Chongwa (Macao) Financial Asset Exchange to help the city develop its financial industry.

The notes were issued by Melco Resorts Finance in December 2019 and January 2021.

“Today, we are pleased to back the local financial industry through our newly announced senior notes listing on the MOX as a solid confirmation of our support to the government’s directions on the diversified development of Macau, as well as our further contribution to the city’s continued development as a world financial and tourism hub,” Melco Chairman and CEO Lawrence Ho said.

Solid Gaming partners with Reloaded Gaming

Solid Gaming has signed a new distribution deal with recently formed Reloaded Gaming to help launch its games in Asia.

Founded by industry veterans with more than 20+ years of experience from the online gaming industry, Reloaded Gaming is aiming to become a new star in the gambling arena.

Using well-balanced gameplay in combination with unique features the slot games are solidly built with high quality and dressed in a nice and detailed visual appearance.

Top games include Mega7, Tomb of RA, Alchemist of Fortune, Joker Pot and Lumin Lights. With a mix of cascades and reel layouts the games are packed with bonus games, multipliers, free spins and wilds.

Using the latest technology Reloaded Gaming games are fully optimised for mobile as well as desktop to ensure the best gaming experience for the players. With a global market approach there are games for every taste, from the more classical Vegas style to modern casual themes. With the well-balanced mechanics and interesting maths these games will attract players all around the globe.

Robert Skogh, CEO and co-founder of Reloaded Gaming comments the partnership: “We have trusted Solid Gaming with launching our games to the Asian markets. They have been easy to work with through the process and can give us an instant reach in our key markets.”

Solid Gaming is the first to offer Reloaded Gaming, making this unknown star now available to their operators.

 

Your Daily Asia Gaming eBrief: Titanic levels of illegal betting in Asia

Titanic

Good morning.

It’s estimated that around 80 percent of the world’s illegal wagering comes from Asia. It’s no wonder authorities have had their hands full these last few weeks cracking down on illegal sports books taking bets on Euro 2020. We examine some of these recent crackdowns. 
Meanwhile, with Yokohama likely out of the race, some are wondering whether Tokyo may step forward with a last minute bid. However, a new public opinion poll suggests that this prospect is extremely remote.
The Philippines remains on the Financial Action Task Force (FATF) grey list, despite recently passing legislation to improve its anti-money laundering controls. Junkets have been cited as a main area of concern. 
In Laos, a U.S. sanctioned casino mogul has reportedly resumed construction of a controversial airport in the Bokeo province. Its sole purpose will be to bring wealthy Chinese tourists to the Kings Roman Casino, which has been linked to organized crime, drugs, money laundering, and human and wildlife trafficking. Locals are not happy about it. 

First, the news


What you need to know


Philippines back on FATF grey list despite tighter AML controls

The Philippines has once again been put on the Financial Action Task Force’s (FATF) grey list despite having recently passed legislation to improve its anti-money laundering controls, with supervision of junkets cited as an area of concern. The Paris-based body completed its Mutual Evaluation Report of the Philippines this month. It said that since the last report in 2019, the country has made progress on recommended actions to improve technical compliance and deficiencies on targeted financial sanctions. However, it now needs to do more to prove effective risk-based supervision of designated non-financial businesses, including demonstrating that supervisors are using AML and CFT controls to mitigate the risks associated with junket operators.

anti money laundering

Kings Roman owner resumes airport construction

The owner of the Kings Roman Casino in Laos has reportedly resumed construction of a controversial airport in the Bokeo province. Development of the airport, which has been expected to provide a boost of wealthy Chinese visitors to the casino, was halted in 2017 due to concerns from a resident. Construction has now resumed, with an opening slated for 2022. According to a member of the Golden Triangle SEZ management team, Dok Ngiew Kham Group and Kings Romans are now clearing land for the new airport and paying out compensation to landowners in the area who had previously objected to the work. 

Tokyoites strongly oppose local IR bid

The near-certain withdrawal of Yokohama from the IR race has led some observers to wonder if this might clear the path for Tokyo, the largest Japanese market of them all, to step forward with a last-minute bid. However, a new public opinion poll suggests that this prospect is extremely remote. The Tokyo Metropolitan Government has conducted discreet studies and consultations with private companies over its tentatively-named “Tokyo Bay Area Vision,” which explicitly includes the possibility of making an IR bid for the Aomi area of Odaiba. However, a fresh poll conducted by the Asahi Shinbun in connection with upcoming July 4 Metropolitan Assembly elections suggests that any IR bid in Tokyo would run up against the same wall of public outrage that has been witnessed in Yokohama.

Insights


BY THE NUMB3RS

Size of illegal market highlighted at Euro 2020

The UEFA European Championship (Euro 2020) has re-highlighted the plight of governments and authorities in their battle against illegal online gambling. A study from Transparency International estimated the illegal sports betting market is around $500 billion dollars globally, dwarfing the regulated sports betting market – which recorded only $85 billion in legal revenue in 2019. When looking at the wider illegal gambling market, including illegal casinos, estimates bring the total illegal gambling market somewhere between $1.3 to $3 trillion dollars. 

Your Daily Asia Gaming eBrief: Titanic levels of illegal betting in Asia

Industry Updates


Your Daily Asia Gaming eBrief: Titanic levels of illegal betting in Asia
Agbriefings, june, 2021

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Starlight Culture appoints chief financial controller and secretary

Starlight Culture Entertainment Group has announced the appointment of Mr. Li Jiajia as chief financial controller and joint company secretary of the Company with effect from 21 May 2021 and 28 June 2021.

Mr. Cheung Yiu Kuen, the current company secretary of the Company, will continue to act as the other joint company secretary of the Company.

Mr. Li has years of experience in auditing, accounting and financial management. Prior to
joining the Company, he was the finance director in China Oceanwide Holdings Group Co.,
Ltd from July 2015 to September 2019. Mr. Li has been the
finance director in China Investment Financial Holdings Fund Management Company Limited since October 2019

Genting HK confirms cruise suspension in Taiwan

Genting Hong Kong, genting dream

Casino cruise operator Genting Hong Kong has confirmed it had voluntarily suspended its Explorer Dream cruising activities in Taiwan since May 12, 2021 due to a new covid outbreak.

The Taiwan government has indicated that cruises will only be able to resume once the current level 3 moves down to a level 2. 

Meanwhile, Genting announced that in Singapore, passenger capacity had been reduced from 50 percent to 25 percent in May, and has now returned back up to 50 percent as of June 14.

In Hong Kong, the government has indicated that its Genting Dream will resume service at the end of July. 

“The Group is working actively to deploy passenger cruising opportunities across all potential routes, acknowledging that it may face unforeseen disruptions and incur additional start-up costs in this uncertain process.”

In the same filing, Genting HK also addressed a number of issues relating to its earlier mentioned indebtedness and liquidity concerns.

The operator said that as of June 28, 2021, the operator has been able to provide further capital and stability to the group through a financial indebtedness and recapitalization transaction with certain creditors relating to its $2.6 billion of debt. 

Genting’s ability to obtain new money facilities and to extend its debt was seen as a key factor in ensuring the company’s long-term survivability. 

Company release

Kings Roman Casino owner resumes airport construction

kings-roman casino, laos

The owner of the Kings Roman Casino in Laos has reportedly resumed construction of a controversial airport in the Bokeo province.

Development of the airport, which has been expected to provide a boost of wealthy Chinese visitors to the casino, was halted in 2017 due to concerns from a resident. This construction has now resumed, with an opening slated for 2022. 

According to a member of the Golden Triangle SEZ management team, Dok Ngiew Kham Group and Kings Romans are now clearing land for the new airport and paying out compensation to landowners in the area who had previously objected to the work. 

“It seems that all landowners are happy with the compensation they’ve received, and are showing no objection to the land-clearing process,” said the official from Dok Ngiew Kham, quoted by Radio Free Asia. 

However, some locals continue to oppose construction of the airport, claiming that its only purpose is to bring a large number of wealthy tourists that won’t benefit the local population. They also note that there is already an airport in the area which is used by the general public. 

Funding and overseeing construction of the new airport is Zhou Wei is the owner of the Dok Ngiew Kham Group and is also the co-owner of the Kings Romans International (HK) Co, operator of a casino that is seen by the U.S. Department of Treasury as the center of drug trafficking, money laundering, bribery, and human and wildlife trafficking-related crimes in the region. 

Zhou himself has been identified by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) as the leader of a transnational criminal organization since 2018.

Universal Entertainment issues $143 million in additional notes

Universal entertainment

Japan-listed Universal Entertainment is planning to raise US$143 million in privately placed additional notes due 2024.

The scheduled issue date is July 2, 2021, and the proceeds will be used for the redemption of existing notes and general corporate purposes. 

Universal Entertainment is the operator of the Philippines integrated resort Okada Manila, located in Manila. 

Company release

Macau gaming industry seeking representation in Legislative Assembly

New Macau Gaming Staff Rights Association head Cloee Chao Sao Fong has thrown her hat in the ring for a directly-elected seat at the Legislative Assembly. 

Ms Chao told local media that she will be standing for local workers’ employment prospects, better benefits for casino shift workers and pushing for a trade union law. A total of eight candidates will run under the umbrella while raising awareness for the new upcoming gaming concessions staffing policies.

In turn, Angela Leong will run unchallenged to claim an indirectly-elected seat.

Angela Leong, co-chairman of SJM Holdings is set to claim her seat once again on Macau’s Legislative Assembly.

This time, Leong will be taking part through indirect-election, representing culture and sports, along with incumbent legislator Chan Chak Mo.

The election process will be held on September 12. 

GGRAsia

Everi to raise $400 million to reduce debt

Everi Holdings is looking to raise $400 million through a private notes offering due 2029 with the aim of reducing the company’s debt. 

The company intends to use the proceeds from the Notes to redeem in full its 7.50 percent Senior Unsecured Notes due 2025 and to pay related fees and expenses and upon consummation of the credit facility, to repay a portion of the borrowings outstanding. 

After closing of the offering, Everi says it intends to enter into new credit facilities, the proceeds of which, together with cash on hand, are intended to be used to repay in full the remaining outstanding borrowings under its existing credit facilities.

Company release