GGRAsia – Newsletter 2

2nd accused admits multiplier ties, as investor: Suncity case

Sep 23, 2022 Newsdesk Latest News, Macau, Top of the deck

A second defendant in the criminal trial also featuring former Suncity Group junket boss Alvin Chau Cheok Wa has admitted to involvement in so-called ‘multiplier’ betting business. But Tim Chau...

Macau gaming tender negotiation stage from Monday: report

Sep 22, 2022 Newsdesk Latest News, Macau, Top of the deck

A negotiation stage between accepted bidders and the Macau government, regarding the ongoing public tender process for fresh Macau gaming rights, is to start on Monday. That is according to a report...

Suncity junket had IT setup for multiplier bets: defendant

Sep 22, 2022 Newsdesk Latest News, Macau, Top of the deck

An ex-executive at former Macau junket business Suncity Group told the city’s Court of First Instance on Wednesday that the group had an information technology (IT) system that supported record...

Casino supplier Weike 1H biz back to 80pct pre-Covid: Tay

Sep 20, 2022 Newsdesk Industry Talk, Latest News, Top of the deck

Privately-held gaming equipment firm Weike Gaming Technology (S) Pte Ltd is one of a select group of companies to be licensed to supply the Singapore casino market. The firm has also been...

Genting Macau win unlikely, poss ally to incumbent: broker

Sep 19, 2022 Newsdesk Latest News, Macau, Top of the deck

Brokerage Sanford C. Bernstein Ltd said in a Monday note it did “not expect” a unit of global casino operator Genting Malaysia Bhd to win “an outright” Macau concession and displace a current...

Cambodia govt orders crackdown on illegal gambling

Sep 19, 2022 Newsdesk Latest News, Rest of Asia, Top of the deck

The government of Cambodia has ordered a “strict crackdown” on all types of illegal gambling. The announcement was made on Saturday by Prime Minister Hun Sen, according to local media reports....

Dave Sun maybe Venetian Macau Ltd MD if Sands wins tender

Sep 15, 2022 Newsdesk Latest News, Macau, Top of the deck

Dave Sun Minqi (pictured, first left), chief financial officer (CFO) of Macau casino operator Sands China Ltd, has been publicly-identfied as a future managing director (MD) of Venetian Macau Ltd, if...

6 existing Macau casino ops submit tender bids by deadline

Sep 14, 2022 Newsdesk Latest News, Macau, Top of the deck

Macau’s current six operators had by 3.30pm on Wednesday – two hours and 15 minutes before the deadline – submitted their respective applications for the city’s public tender to award new...

Macau Legend 1H US$62mln loss, breaks covenant clauses

Sep 13, 2022 Newsdesk Latest News, Macau, Top of the deck

Gaming and hotel services firm Macau Legend Development Ltd reported a first-half net loss of HKD485.5 million (US$61.9 million), on revenue that rose by 3.1 percent year-on-year, to HKD543.8...

Trial of Tak Chun’s Levo Chan to start Dec 5: court

Sep 09, 2022 Newsdesk Latest News, Macau, Top of the deck

The trial of gambling junket head Levo Chan Weng Lin (pictured in a file photo) and other defendants linked to junket brand Tak Chun is set to begin on December 5. That is according to the...