Friday, July 30, 2021

INSIGHTS

POGO tax bill held up by lobbying from SEZs

A bill that would establish the taxation base for Philippine Offshore Gaming Operators (POGOs) is being held up in Congress due to lobbying from the country's Special Economic Zones, who are seeking to retain preferential tax treatment.

SJM’s Grand Lisboa Palace to open July 30 with 150 new...

SJM Chairman Daisy Ho revealed on Wednesday that the Grand Lisboa Palace, the group’s flagship property on the Cotai Strip, is going to hold a partial opening on July 30th.

Melco’s Altira to shift from VIP focus to premium mass

Melco Resorts says it is shifting the focus of its Altira property in Macau from VIP to that of premium mass, as part of the company’s strategic shift towards the high-margin market. 

Saipan online market seen as unviable

Saipan’s casino regulator says it wants to hear from potential online gaming investors as it seeks to recoup lost revenue from its failed casino venture, however, industry insiders say they don’t see the island as a viable market.

Melco’s Ho sees no major surprises in concession renewal

Melco Resorts & Entertainment Chairman and CEO Lawrence Ho said he doesn't expect any surprises in Macau's concession renewal process, despite the regulatory crackdown in China that has rattled investor nerves and sent Chinese stocks crashing on Tuesday. 

Quarantine, mass testing in Macau after Nanjing airport outbreak

Some 144 people have been subjected to mandatory hotel quarantine in Macau after new government mandates due to the outbreak in the Nanjing Lukou airport.

CNMI regulator wants to hear from prospective igaming operators

The Commonwealth Casino Commission wants to reach out to online gaming operators who may be potentially interested in investing in the island, should a bill allowing internet gaming come to pass. 

Thriving CS:GO virtual economy powers esports betting

In June, two virtual skins in the popular esports title Counterstrike: Global Offensive (CSGO) were sold for a record-breaking total of $780,000, the largest single transaction to date in CSGO history. 

GWC may call for immediate cancellation of Crown license

Even before the ending of the Royal Commission enquiry into whether Crown Perth is suitable to keep its casino licence, the gambling regulator may call on the Racing and Gaming Minister to cancel its licence.

Likelihood of Macau re-closing low: Bernstein

Despite the concern from Covid cases popping up across the Mainland Chinese border, the probability of an outbreak in Macau that causes significant disruption to travel or forces closures is low, say analysts at Bernstein Research.

Crown losing its casino license not likely, say analysts

Crown Resorts is unlikely to have its casino license in Victoria revoked, despite a bombshell recommendation from Victorian Royal Commission counsel Adrian Finanzio to strip the casino of its license last week, according to industry experts. 

Crown Sydney won’t open until “well into 2022”: Green

Embattled casino operator Crown Resorts will need to do a lot more than just change its people if it wants to achieve true reform and be seen as a suitable holder of a casino license, says gaming veteran David Green.

POGO tax bill set to be adopted, places 5% rate on...

The House of Representatives in the Philippines is reportedly going to adopt the new bill clarifying the tax liabilities of Philippines Offshore Gaming Operators, or POGOs.

IPI resort should be “blown to smithereens,” lawmaker says

Imperial Pacific International's under construction resort on Saipan should be "blown to smithereens," if the Casino Control Commission revokes the company's operating license, lawmaker Vicente Camacho said.

Star Entertainment retracts merger proposal with Crown

The Star Entertainment Group has retracted its proposal to merge with rival operator Crown Resorts, citing uncertainty in Crown being able to retain its Melbourne casino license.

Interview with Alex O’Brien: How poker trains the mind

Alex O’Brien, an author who is passionate about the game of poker shares what she has learned and talks about the need for the industry to improve its image to present poker as a true skill-based game, rather than a male-dominated bad boys’ sport.

Pressure builds for Macau gov’t to progress with gaming law revision

On Thursday, Macau’s Secretary for Economy and Finance assured that the Macau SAR government would be moving forward with its public consultation on the new gaming law within the second half of this year.

LVS stock drops as analysts downgrade forecasts

Shares in Las Vegas Sands fell more than three percent in trading on Thursday after analysts reduced their earnings forecasts for the year following weaker-than-consensus Q2 results.

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