U.S. investment group, Blackstone, has completed its A$8.9 billion ($6.1 billion) acquisition of Crown Resorts, saying it aims to rebuild the Australian operator into an “iconic destination for travel.”

Malaysia

Malaysia still mulling online gambling regulation to stop tax bleed

Sharon Singleton - June 24, 2022

Malaysia is still considering regulating online gambling and estimates that it’s losing about MYR2 billion ($454 million) a year in lost tax revenue.

Australia

Ainsworth CEO Harald Neumann granted 2.8m performance rights

AGBrief Editorial - June 24, 2022

Ainsworth Game Technology said its CEO Harald Neumann has been granted 2.8 million performance rights as a long-term incentive.

Cambodia

Pronet Gaming accelerates expansion plans into Asia

AGBrief Editorial - June 24, 2022

Pronet Gaming is to turn its attention to emerging markets in Asia following the unprecedented success that has allowed it to expedite its ambitious plans ahead of schedule.

Pacific Islands

IPI aiming for financial lifeline from JV Chinese partner, Sino Travel Samoa

AGBrief Editorial - June 24, 2022

Saipan based casino Imperial Pacific Holdings (IPI) recently announced that it has entered into an exclusive cooperation agreement with two third party operators to underwrite the leading of 250 hotel rooms and set up a shopping mall at the Imperial Palace resort.

Macau

Macau operators “truly grateful” for extension, gaming law revisions

AGBrief Editorial - June 24, 2022

In response to the approval of the Macau operators “truly grateful” for the extension of the contracts, gaming law revisions, as they set the pathway towards a smooth transition ahead of the tender for the new concessions. All reiterate their readiness to participate in the tender process.

Macau

SJM announces successful refinancing of HK$19b in loan facilities

Sharon Singleton - June 23, 2022

SJM Holdings said its creditors have agreed to refinance syndicated loan facilities worth up to HK$19 billion ($2.4 billion). The loans consist of a $9 billion term loan and a $10 billion revolving credit facility, the company said in a statement.

Macau

Failure to renew all Macau concessions a risk to govt. finance: Moody’s

AGBrief Editorial - June 23, 2022

Failure to renew all of Macau’s six concessions would result in substantial risk to government finances due to the significant amount of tax they generate and how many people they employ, Moody’s said.

Philippines

Philippines audit body urges action to collect $42.4m in overdue POGO taxes

Sharon Singleton - June 23, 2022

The Philippines leading audit body has urged the Philippines Amusement and Gaming Corp. (PAGCOR) to take urgent action to collect some PHP2.32 billion ($42.4 million) overdue taxes from offshore gaming companies.

Macau

Macau concessions extended for 6 months, loan guarantee details emerge

Sharon Singleton - June 23, 2022

The Macau government has extended the concession period for each of the six operators for a further six months, for a payment of about $6 million and bank guarantees to cover employee liabilities.

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Intelligence

00:11:16

Is cashless more hype than reality for casinos?

2 days ago

The pandemic has accelerated a move to cashless in just about every sphere, although casinos are still lagging behind the curve. There’s certainly a lot of talk about the subject, but Tracey Chernay, senior vice president of Transact Technologies, tells us in this week’s Face-to-Face that she’s not convinced about the level of player demand.