GGRAsia – Newsletter

Jeju Dream Tower 1Q casino revenue up 29pct q-o-q

May 17, 2022 Newsdesk Latest News, Rest of Asia, Top of the deck

The casino at the Jeju Dream Tower resort (pictured), in the capital of the South Korean holiday island of Jeju, recorded KRW18.5 billion (US$14.5 million) in gaming revenue for the three months to...

Tweaks to Macau gaming law keep cross-stake status quo

May 17, 2022 Newsdesk Latest News, Macau, Top of the deck

The Macau government is willing to keep the current ‘status quo’ in terms of cross-shareholding in gaming operators, scrapping a previous proposal that would prevent any shareholder with a stake...

Alleged bribe offer to ex-Wynn manager probed by HK, Macau

May 17, 2022 Newsdesk Latest News, Macau, Top of the deck

Macau’s Commission Against Corruption (CCAC) says it is cooperating with the Hong Kong authorities as the latter investigate a series of alleged offers – dating back between 2014 and 2017...

Macau ops share junket deposit liability: Macau top court

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

Macau’s Court of Final Appeal announced on Monday sentences in relation to a total of nine cases concerning debt claims involving junket operators based at local casinos. In all the cases, the...

Macau repeat visitors denied visa by China says Bernstein

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

The “latest channel checks have indicated that frequent gamblers to Macau have seen visa issuance denied by China immigration offices,” says a Monday memo from brokerage Sanford C. Bernstein Ltd,...

Macau satellite profit model still in doubt: industry

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

The Macau government’s decision to drop a condition that the gaming areas of so-called satellite casino hotels in the city must in future be owned by any one of the casino concessionaires, is a...

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

May 16, 2022 Newsdesk 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,...

Macau modifies satellite owner plan, rev share ban stays

May 13, 2022 Newsdesk 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...

Kangwon Land back to pre-Covid capacity from May 16

May 13, 2022 Newsdesk 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...

Business as usual says Okada Manila op as it fights founder

May 13, 2022 Newsdesk 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...