GGRAsia – Newsletter 1

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 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,...

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

May 12, 2022 Newsdesk 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...

Aruze says Philippine court restored Okada to Tiger board

May 12, 2022 Newsdesk Latest News, Philippines, Top of the deck

An email to GGRAsia from casino equipment supplier Aruze Gaming Macau Ltd said a recent Philippine court order would “restore the composition of the board of directors of Tiger Resort, Leisure and...

No material exposure to Macau junket debt cases: Wynn CEO

May 11, 2022 Newsdesk Latest News, Macau, Top of the deck

The chief executive of Macau-based casino operator Wynn Macau Ltd says the firm has yet to “accrue for” any “material exposure” to debt claims involving junket operators previously...

Newly-elected president Marcos’ in-tray has gaming

May 10, 2022 Newsdesk Latest News, Philippines, Top of the deck

Ferdinand Marcos Jr (pictured), leader-in-waiting for the Philippines, will have a number of key gaming industry-related items in the in-tray. Taxes from licensed casinos and other forms of...

Macau player deposits only via concessionaire: legislator

May 06, 2022 Newsdesk Latest News, Macau, Top of the deck

The proposed crime relating to “illegal taking of deposits” means neither Macau junkets nor their “collaborators” will be able independently to hold any funds on behalf of gamblers –...

Possible US$637mln loan via STDM to shore SJM: mgmt

May 04, 2022 Newsdesk Latest News, Macau, Top of the deck

Management at Macau casino operator SJM Holdings Ltd says the firm has the possibility of asking for a HK$5-billion (about US$637-million) loan from its largest shareholder STDM, if faced with...

SJM quarterly loss near double y-o-y in 1Q to US$163mln

May 03, 2022 Newsdesk Latest News, Macau, Top of the deck

The first-quarter loss at Macau casino operator SJM Holdings Ltd rose 97.8 percent year-on-year, to HKD1.28 billion (US$163.4 million), versus a HKD647-million loss in the first three months of 2021....

MGM hopes for Osaka construction late 2023 if IR approved

May 03, 2022 Newsdesk Japan, Latest News, Top of the deck

If given the go-ahead to build a casino resort in Osaka, Japan, then MGM Resorts International would hope to see foundation work take place in late 2023, said Bill Hornbuckle, the group’s chief...