Thursday, December 7, 2023
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Australia approves Digital Currency and Credit Card Online Gambling Ban

The Australian Senate on Wednesday approved a new law that prohibits the use of credit cards and digital currencies as payment methods for online gambling in the country. The measure can now come into force subject to an agreed transition period.

The Star Sydney given a six-month deadline to get back the gaming license or face closure

Australia’s The Star in Sydney has been given a six-month deadline to get back its gaming license or face closure after authorities in New...

Macau government disagrees with Moody’s over ‘negative’ outlook

The Macau government has expressed its disagreement with Moody's decision to downgrade the region's economic outlook from "stable" to "negative," as announced by the credit rating agency.

Imperial Pacific International handed 30 days to repay $62 mln in owed casino license fees

Imperial Pacific International (IPI) has been given 30 days by the Commonwealth Casino Commission board to pay $62 million total in casino license fees it has owed to the Commonwealth of Northern Mariana Islands (CNMI) for almost four years.

Grand Korea Leisure reports a 2.6 percent monthly drop in gaming revenue for November

Foreigner-only South Korean gaming operator Grand Korea Leisure (GKL) recorded a decrease in gaming revenue on a month-on-month basis in November, with the most recent results indicating KRW 27.9 billion ($21.3 million) in casino sales during the period, down slightly 2.6 percent monthly and 1 percent yearly.

SJM Holdings appoints Ip Shih Ming as new CFO

Macau casino operator SJM Holdings Ltd has appointed Ip Shih Ming as new chief financial officer (CFO), with effect from 6 December 2023.

Las Vegas Sands purchases a further $249.5 million in Sands China shares

Las Vegas Sands has decided to increase its shareholding in Sands China by purchasing some HK$1.95 billion ($249.56 million) in shares.

MGM-Orix Osaka IR project facing possible further delays due to the construction of the Osaka 2025 pavilion

According to the Japan Times, preparatory works for developing the Yumeshima artificial island in Osaka Bay started less than 500 days before the expo is due to open in spring, 2025.

JP Morgan foresees a 10 percent increase in Macau’s mass GGR for 4Q23

JP Morgan has presented a positive outlook for Macau's gaming revenue by the end of the year, estimating that the gross gaming revenue (GGR) in December will range from MOP17.5 billion ($2.1 billion) to MOP18 billion ($2.2 billion). This projection indicates a return to 80 percent of the pre-pandemic level.

Kangwon Land appoints Choi Cheol-Gyu as the new CEO following the resignation of the previous head

The gaming operator of South Korea's exclusive casino for locals, Kangwon Land Inc., has announced a change in leadership. The vice-president of the firm, Choi Cheol-Gyu, substituted the former CEO Lee Sam-Geol after his resignation last Friday.