GGRAsia – Newsletter 2

Newsletter 2

SJM needs to ask govt for concession extension: legal expert

Jan 22, 2019 Newsdesk Latest News, Macau, Top of the deck

Macau casino operator SJM Holdings Ltd has under local law to issue a request to the city’s government if it wants an extension of its gaming concession before its contract ends in March 2020,...

Macau gaming demand remains strong: Morningstar

Jan 21, 2019 Newsdesk Latest News, Macau, Top of the deck

Macau’s gaming market is likely to experience a contraction this year before returning to growth in 2020, says a new note from investor services firm Morningstar Asia Ltd. “Despite fears around a...

Philippine DOJ dismisses one fraud case against Okada

Jan 21, 2019 Newsdesk Latest News, Philippines, Top of the deck

The Philippine Department of Justice (DOJ) has dismissed one count of fraud against Japanese billionaire entrepreneur Kazuo Okada (pictured), related to a US$7-million contract to supply LED fittings...

Macau mass to fare well, VIP to shrink in 2019: Bernstein

Jan 18, 2019 Newsdesk Latest News, Macau, Top of the deck

Brokerage Sanford C. Bernstein Ltd is forecasting that overall casino gross gaming revenue (GGR) in Macau will grow by 3 percent year-on-year in 2019, but with the mass and VIP segments showing very...

VIP share slips 4Q, mass baccarat share up: Macau govt

Jan 17, 2019 Newsdesk Latest News, Macau, Top of the deck

VIP baccarat’s share of Macau casino gross gaming revenue (GGR) fell year-on-year and quarter-on-quarter in the final three months of 2018. That is according to data from the city’s casino...

VIP scenario brighter in Singapore than Macau: Maybank

Jan 15, 2019 Newsdesk Latest News, Macau, Singapore, Top of the deck

Maybank Kim Eng, the investment bank in the Malayan Banking Bhd group, sees a greater potential for growth in gross gaming revenue (GGR) among Singapore’s VIP gamblers than it does for the same...

Casino cluster very important for Primorsky: tourism head

Jan 14, 2019 Newsdesk Interviews, Latest News, Rest of Asia

The creation of an entertainment area encompassing several casino resorts is a “very important” step to boost tourism numbers in Primorsky Krai in the Russian Far East, said Konstantin Shestakov...

Okada Manila posts full-2018 GGR of US$522mln: Universal

Jan 11, 2019 Newsdesk Latest News, Philippines, Top of the deck

Japanese gaming company Universal Entertainment Corp says its Okada Manila casino resort (pictured) in the Philippines recorded adjusted segmental earnings before interest, taxation, depreciation and...

Still no smoking lounges at Grand Lisboa, MGM Cotai: govt

Jan 10, 2019 Newsdesk Latest News, Macau, Top of the deck

Two of Macau’s main casino properties – namely Grand Lisboa, run by SJM Holdings Ltd, and MGM Cotai, run by MGM China Holdings Ltd – were still waiting to have their new casino smoking lounges...

Japan’s Kamori Kanko proposes casino project for Hokkaido

Jan 10, 2019 Newsdesk Japan, Latest News, Top of the deck

Japan-based tourism and hospitality firm Kamori Kanko Co Ltd is proposing to develop a casino resort in the Japanese island of Hokkaido, a popular tourism destination. The firm said in a press...