Tuesday, April 23, 2024
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Senator urges Philippines gov’t to boost crackdown on foreigners involved in illegal POGOs

Philippine Senator Sherwin T. Gatchalian is urging the country's Bureau of Immigration (BI) to intensify efforts to prevent foreigners involved in illegal Philippine Offshore Gaming Operators (POGOs) from entering the country and establishing more illicit operations.

Crown Resorts found suitable to retain Sydney casino license

Crown Resorts is retaining its casino license in Sydney, after authorities in New South Wales ruled that the group’s remediation efforts have been sufficient.

Macau gov’t gaming tax revenue tops $882M in March

Macau’s government brought in some $882.71 million in gaming tax revenue during the month of March, a 77.26 percent yearly increase but down slightly month-on-month.

FEC casino subsidiary Palasino raising $2M in new share allotment

The Hong Kong Stock Exchange has given the green light for a new share issuance by Palasino Holdings Ltd, a newly-listed subsidiary of developer Far East Consortium (FEC), with the issuance aiming to raise some $2 million.

President Marcos: Filipino hospitality a pillar of Philippine tourism

Philippine President Ferdinand R. Marcos Jr. has emphasized the pivotal role of Filipino hospitality in driving the growth of Philippine tourism and fostering overall economic development.

Imperial Pacific International files for bankruptcy

Imperial Pacific International (CNMI) LLC, facing mounting financial pressure, has sought refuge in Chapter 11 bankruptcy protection, halting negotiations with the Commonwealth Casino Commission (CCC).

Philippines top Macau int’l visitor market, visitation at 68% of FY19 levels in 1Q24

Macau's international visitor arrivals have already recovered to 68.2 percent of 2019 levels, with 584,026 foreign tourists received in the first quarter of 2024. The Philippines led the charge, with over 110K tourists.

Drops in VIP trigger 44% fall in PLC’s City of Dreams Manila GGR share

City of Dreams Manila saw a significant drop in VIP revenue during the first three months of the year, causing one of its parent companies - Premium Leisure Corp (PLC) - to record a 44 percent annual drop in gaming revenue from the property.

Morgan Stanley lowers Sands China’s 2024 EBITDA estimates due to share loss

Morgan Stanley has revised down Sands China’s 2024 EBITDA forecast to $2.4 billion, an 8 percent decrease, due to lower market share this year.

Suntrust secures $38M loan for development of Westside City Project 

Philippines gaming operator Suntrust Resort Holdings has secured a $38 million loan from LET Group to ‘fund project costs and the construction of its Westside City Project hotel and casino.