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Moody’s downgrades SJM debt on slow Macau recovery

Moody’s downgrades SJM debt on slow Macau recovery

May 16, 2022 Latest News, Macau, Top of the deck  

Moody’s Investors Service Inc has downgraded Macau casino operator SJM Holdings Ltd’s corporate family rating (CFR) to ‘Ba3’ from ‘Ba2’. Both ratings are considered non-investment...
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Macau GGR tax cut may spur 15pct EBITDA hike: JP Morgan

Macau GGR tax cut may spur 15pct EBITDA hike: JP Morgan

May 16, 2022 Latest News, Macau, Top of the deck  

A cut of 5 percentage points in the tax levied on Macau gross gaming revenue (GGR “would be equivalent to a 12 to 15 percent boost” to estimated industry earnings before interest, taxation,...
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Macau mulls GGR tax cut if casinos attract foreign players

Macau mulls GGR tax cut if casinos attract foreign players

May 13, 2022 Latest News, Macau, Top of the deck  

Macau is willing to consider cutting as much as 5 percentage points from the aggregate effective tax rate on casino gross gaming revenue (GGR), if the city’s casino industry is able to bring in...
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Macau modifies satellite owner plan, rev share ban stays

Macau modifies satellite owner plan, rev share ban stays

May 13, 2022 Latest News, Macau, Top of the deck  

The Macau government is planning to scrap a proposal that the city’s so-called satellite casino operators should tie the ownership of their respective gaming floors to one of the next...
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China bars 90,000 from travel in cross-border bet action

China bars 90,000 from travel in cross-border bet action

May 13, 2022 Latest News, Rest of Asia, Top of the deck  

China’s National Immigration Administration says since 2021 it has “spotted and stopped” from leaving the country, over 90,000 people that were allegedly “engaged in gambling...
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Kangwon Land back to pre-Covid capacity from May 16

Kangwon Land back to pre-Covid capacity from May 16

May 13, 2022 Latest News, Rest of Asia, Top of the deck  

From Monday (May 16) South Korean casino resort Kangwon Land (pictured) is to return to pre-pandemic carrying capacity in terms of gambling customers allowed on the premises at any one time. That...
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Business as usual says Okada Manila op as it fights founder

Business as usual says Okada Manila op as it fights founder

May 13, 2022 Latest News, Philippines, Top of the deck  

Tiger Resort, Leisure and Entertainment Inc (TRLEI), controller of the Okada Manila casino resort (pictured) in the Philippine capital, says it is “business as usual” at the property, as it...
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Bloomberry 1Q consolidated net revenue up 9pct q-o-q

Bloomberry 1Q consolidated net revenue up 9pct q-o-q

May 13, 2022 Latest News, Philippines, Top of the deck  

Quarterly consolidated net revenue at Bloomberry Resorts Corp rose 9.1 percent sequentially, to PHP7.20 billion (US$137.4 million), in the three months to March 31, versus approximately PHP6.60...
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Galaxy Macau Phase 4 finish target 2024: Francis Lui

Galaxy Macau Phase 4 finish target 2024: Francis Lui

May 13, 2022 Latest News, Macau, Top of the deck  

Building of Phase 4 at the Galaxy Macau casino resort, in Macau’s Cotai district, could be completed “in 2024″, says Francis Lui Yiu Tung (pictured in a file photo), deputy chairman...
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GEN Singapore posts US$29mln 1Q profit, up sequentially

GEN Singapore posts US$29mln 1Q profit, up sequentially

May 12, 2022 Latest News, Singapore, Top of the deck  

Casino operator Genting Singapore Ltd reported a net profit of SGD40.4 million (US$28.9 million) for the first quarter of 2022, up 17.3 percent from the previous quarter. It represented a...
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”We anticipate being live with iGaming products in two jurisdictions in the U.S. by the end of calendar year 2022"

Trevor Croker
Chief executive and managing director of Aristocrat Leisure