TagOffshore gaming licenses
Gross gambling revenue from licensed casinos in the Philippines jumped more than 29 percent in 1Q22, confirming predictions that the country will be one of the best-performing markets in Asia going forward.
Chairman and CEO Andrea Domingo stated that, during her tenure with the current Administration, PAGCOR has recorded more than P300 billion in revenue or $4.45b.
The Department of Justice received a congressional letter encouraging investigation and enforcement action into the illegal gaming market.
Suncity Group and Summit Ascent have issued a trading halt with effect from on Friday, 13 May 2022.
Macau Legend Development remained optimistic for the future of its casino operations despite announcing a loss $152 million USD for the 2021 Financial Year.
Newly appointed Star’s managing director and CEO, Robert Cooke, stated that “ensuring continuity of the business through a comprehensive renewal program is of paramount importance” as he tackles the company’s “well documented challenges” throughout his tenure.
Macau’s casino regulator said measures requiring all staff and guests to have a negative Covid test to enter the premises will go into effect Friday, as cases in the city continue to rise.
Macau’s average hotel occupancy declined 27.9 percentage points in May to 34.2 percent, despite the Golden Week holiday in the month.
Macau casino operator stocks surged on Tuesday after China announced its first major easing in border restrictions since the pandemic began.
The number of Covid cases in Macau has risen to 357 and the gaming regulator has urged casinos to restrict the movement of people and to increase their epidemic control measures.
Imperial Pacific International (IPI) says it’s on track to reopen its casino on Saipan in November, though there remains significant doubt over its future and over the feasibility of its business model.