Tuesday, July 16, 2024

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Landing suspends Chairman Yang Zhihui after SFC charges leveled

The operator of Jeju Shinhwa World, in South Korea, Landing International Development Ltd, has suspended its Chairman and Executive Director, Yang Zhihui, due to legal proceedings being leveled by Hong Kong’s Securities and Futures Commission (SFC).

Spot Bitcoin and Ethereum ETFs get regulatory approval in Hong Kong

Hong Kong regulators granted conditional approval for the introduction of exchange-traded funds (ETFs) for spot Bitcoin and Ethereum on Monday.

Russian buyer of Tigre de Cristal looking to terminate deal

A Russian company that intended to purchase Tigre de Cristal Resort is looking to terminate the deal, Summit Ascent and LET Group announced.

HK regulator warns LET Group, Summit Ascent delisting over Russian asset sale

Hong Kong stock regulator warns it may delist LET Group and Summit Ascent over concerns about the sale of its Russian assets, namely Tigre de Cristal.

Shin Hwa World gaming revenue down 27 percent in 1H23, net losses expand

South Korean gaming operator Shin Hwa World has experienced a 27 percent decrease in gaming revenue during 1H23, dropping from HK$32.6 million ($4.2 million) in 1H22 to HK$23.8 million ($3 million).

Shin Hwa World Chairman retiring, group identifying suitable replacement

Korean foreigner-only casino operator Shin Hwa World has announced that its Chairman of the Board, Dr. Yang Zhihui, is retiring from the position, as well as from his Executive Director role.

New rulebook for crypto trade taking effect in Hong Kong

Hong Kong's new crypto law is coming into effect on Thursday, June 1st, imposing a licensing regime for virtual-asset platforms.

Your Daily Asia Gaming eBrief: Macau GDP falls by one-third in 3Q22

Macau continues its epidemic prevention rollercoaster, with a new case prompting a shutdown of another hotel and tests for clients and staff of Fisherman's Wharf and Sands Macau. This comes after third-quarter GDP results showed a one-third annual drop, with gaming services exports down 72 percent.

Andrew Lo bumps bottom acquisition offer for Suncity ListCo.

LET Group - formerly Suncity Group - along with Major Success Group have revised their bottom offer to acquire Suncity Listco shares priced at HK$0.0690 per share, a filing to the HKSE on Wednesday shows. 

Takeover offer for Suncity’s LET shell massively undervalued: HKSE

The offer made to acquire Suncity, recently rebranded LET Group, at 23 times down the quoted price, was considered “highly undervalued” by the Hong Kong Stock Market Regulatory Panel, which set a new compulsory share price.