Wednesday, May 18, 2022
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China visa crackdown may wipe 20% off Macau revenue: Credit Suisse

China’s crackdown on frequent gamblers to Macau could wipe as much as 20 percent off total industry gross gambling revenue, Credit Suisse analysts wrote. 

PH Resorts in talks with creditors/investors after 1Q22 loss widens

PH Resorts announced its 1Q22 loss widened and said it’s in talks with creditors and potential investors to raise finance to fund its operations and complete its projects.

Jeju Dream Tower 1Q22 casino sales up 28.4%, mass suffers from lower hold

Lotte Tour Development’s Jeju Dream Tower, posted a 28.4 percent increase in casino sales in Q122, though higher volumes in the mass segment were offset by lower hold. 

China police catch man suspected of double MGM Cotai homicide

Police in Guangdong have detained a man suspected of killing two women in an MGM Cotai hotel room earlier this month, local media reports. 

Two charged for offering former Wynn Macau director HK$1.5m in bribes in aircon case

Two men have been charged for attempting to bribe a former Wynn Macau director to win air conditioning maintenance contracts worth HK$22 million ($2.8 million).

Sega Sammy profit surges on pachinko / pachislot sales

Sega Sammy saw its profits increase significantly for the year ended March 31, 2022, due mainly to strong sales growth from its pachislot and pachinko business. 

SJM debt downgraded on weak liquidity, uncertainty over financing: Moody’s

SJM Holdings’ debt rating has been cut by Moody’s due to concern about its weak cash flow and delays in refinancing its debt.

Frequent China gamblers to Macau denied visas: Bernstein

Some frequent gamblers to Macau are having their visas turned down by Chinese authorities, further holding back gross gambling revenue (GGR) growth, Bernstein said, citing its weekly channel checks.

Macau’s top court rules operators/junkets jointly liable 

Macau’s Court of Final Appeal has ruled that operators and junkets are jointly liable for client deposits in all nine cases presented before the court. 

Universal Entertainment swings to net profit in 1Q22 as restrictions ease

Universal Entertainment Corp swung to a positive net income of JPY10.9 billion ($84.3 million) for the quarter ending March 31, 2022, owed to an increase in sales within its amusement equipment business, and a shedding of capacity constraints from March 1 for its integrated resorts business.

South Koreans seek luxury, wellness and cultural experiences

Dr. Jaeyeon Choe, a lecturer at Swansea University and expert on Korean outbound travel trends chats with Asia Gaming Brief editor Felix Ng about the South Korean outbound tourist and how they've changed post-pandemic. We also discuss top tips for catering to this tourist at your Asia-based integrated resort.