Thursday, February 25, 2021

INSIGHTS

Hokkaido white IR dies another death

“A fool dies a thousand deaths; a wise man only one.” This common expression—a garbled version of something written by Shakespeare—might very well be applied to the prospect of IR development in Hokkaido. And indeed, the project has recently died yet another death.

Galaxy’s convention center slated to open in Q3

Galaxy Entertainment Group’s senior vice president of MICE events says the company has already been receiving “a lot of inquiries” for its Galaxy International Convention Center, which is likely to launch in the second half of 2021. 

Genting Singapore looking at design changes for Phase 2

Genting Singapore says it's considering major design changes to the expansion plans for Resorts World Sentosa to take account of new health and safety requirements and the changing dynamics of the VIP market.

Macau lifts quarantine requirements for Mainland China

The Macau government has eased travel restrictions for the last two remaining Mainland China regions - Hebei and Heilongjiang Provinces, removing their need for a 14-day quarantine.

Kangwon Land’s license extended to 2045

The South Korean government is moving forward with a plan to extend state-backed casino resort Kangwon Land operating license for a further twenty years to 2045.

Crown Perth told to cease junket play

The Gaming and Wagering Commission of Western Australia (GWC) today issued a directive to Crown Perth to cease all junket and premium player activity.

Australia VIP sector facing multiple headwinds

Outside of the global pandemic, the trade war between Australia and China is casting another dark shadow over Australia’s already-strained VIP gaming industry, prompting operators to start looking elsewhere for recovery. 

SJM now eyes Q2 debut for Lisboa Palace; 2020 results disappoint

SJM Holdings says it now expects to open its delayed Grand Lisboa Palace on Cotai in the second quarter of this year and is eyeing “selective” opportunities for expansion in Asia.

Chinese travellers opt for short trips [Infographic]

The Lunar New Year period, which is known as the largest annual migration in the world, was a shadow of its former self, with strict rules in place to restrict the flow of Chinese outbound (and domestic) travel this year. 

Macau Legend still in the hunt for own gaming license

Melinda Chan, Macau Legend executive director and president of the Macau Fisherman’s Wharf International Investment Limited, told the local media that her company is still focused on obtaining a gaming license of its own in a future public gaming tender.

Dream11 valuation to double to US$4 billion

Dream Sports, owner of online fantasy sports brand Dream 11 is in talk with investors for a fresh round of funding that will bring the valuation of the company to around $4 billion.

Victoria to shake up gambling regulation 

The state of Victoria is reviewing its gambling legislation and plans to set up an independent casino regulator following the findings of a damning report into Crown Resorts in New South Wales.

IPI chairwoman again under threat of jailing

Imperial Pacific International Chairwoman Cui Li Jie is again living under threat of jailing, being accused of both failing to comply with a subpoena as well as perjuring herself in earlier testimony.

Thai casino talk not seen as gaining traction

News last month that Thailand may consider legalizing gambling has been met with scepticism by those who know the market well, with most saying casinos are not likely to open in at least the next decade.

POGOs required to register for AML reporting

Philippine Offshore Gaming Operators (POGOs) have been given one month to register for the electronic reporting system of the Anti Money Laundering Council (AMLC). 

MGM stock rises as investors reward online deal

Shares in MGM Resorts rose almost 4 percent on Friday after investors applauded the casino operator’s latest foray into the online sphere.

Interview with Avril Baynes: Mindil Beach Casino & Resort [video]

AGB Nippon Executive Editor Michael Penn interviews Mindil Beach Casino & Resort General Manager Avril Baynes about her facility in Australia's Northern Territories and how it has coped with the Covid-19 pandemic.

Operators need to reassess junket relations: SVA

Casino operators should reassess their relationships with their junket partners in the wake of the Bergin report into Crown Resorts and the changes in the global geopolitical climate, according to SVA, a corporate and political risk consultancy.

UNESCO concerned about NagaCorp’s Angkor Wat plans

NagaCorp’s US$350 million Angkor Lake of Wonder project has drawn eyes narrowed in suspicion from the United Nations’ cultural agency UNESCO.

Macau presses Beijing for IVS e-visa restart

Macau’s tourism officials are pressing the mainland government to restart the Individual Visit Scheme (IVS) electronic visa, which would allow for more seamless travel between the two countries. 

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