GGRAsia – Newsletter 2

Newsletter 2

Rich Goldman in yearly profit but down to one junket biz

Sep 24, 2018 Newsdesk Latest News, Macau, Top of the deck

Macau junket investor Rich Goldman Holdings Ltd swung to a profit for the year ended June 30, compared to a loss in the equivalent period a year earlier. The firm reiterated it had only one active...

Satellite casinos in Cyprus open by spring 2019: Melco Intl

Sep 20, 2018 Newsdesk Latest News, Top of the deck, World

Hong Kong-listed casino developer Melco International Development Ltd says three of its so-called “satellite casinos” in Cyprus are scheduled to commence operations in respectively...

Tiger deal based on presumption of regularity: Asiabest

Sep 20, 2018 Newsdesk Latest News, Philippines, Top of the deck

Philippine-listed Asiabest Group International Inc says the firm’s proposed takeover by Hong Kong-registered Tiger Resort Asia Ltd is based on the “presumption of regularity” of documents...

No decision on mandatory typhoon casino closure: Macau govt

Sep 18, 2018 Newsdesk Latest News, Macau, Top of the deck

The Macau government has yet to consider whether to make it compulsory for local casinos to suspend operations when Typhoon Signal No.8 or above is hoisted by the local weather bureau. So said on...

Macau labour groups applaud casino pause amid typhoon

Sep 17, 2018 Newsdesk Latest News, Macau, Top of the deck

Some of Macau’s most outspoken labour groups have praised the government’s decision to order the blanket suspension of operations in the city’s casinos during Typhoon Mangkhut, a category 10...

Mangkhut at least 500bps off Sept GGR growth: analyst

Sep 16, 2018 Newsdesk Latest News, Macau, Top of the deck

Saturday’s seemingly unprecedented blanket closure of Macau casinos due to a “super typhoon” called Typhoon Mangkhut, as well as associated disruption to public transport, probably shaved at...

Likely 50pct rebound in Macau stocks on past form: MS

Sep 14, 2018 Newsdesk Latest News, Macau, Top of the deck

The current circa 30-percent downward correction in Macau casino company share prices is likely to be followed by a circa 50 percent rebound, if markets behave in a similar way to previous...

New VIP clubs in Macau boosting biz volumes: Tak Chun exec

Sep 12, 2018 Newsdesk Latest News, Macau, Top of the deck

A senior executive of Macau junket investor Tak Chun Group said it expected the opening of a new VIP gaming club at MGM Cotai – the newest property promoted by MGM China Holdings Ltd –...

DB cuts 2019 GGR outlook, Macau stocks slide

Sep 11, 2018 Newsdesk Latest News, Macau, Top of the deck

A Tuesday noted issued in Hong Kong by Deutsche Bank AG cut the 2019 gross gaming revenue (GGR) year-on-year growth outlook for Macau from 11 percent to 4 percent, reported Bloomberg News. The bank...

Commissions drive up Macau 2017 gaming overheads

Sep 11, 2018 Newsdesk Latest News, Macau, Top of the deck

Commissions and certain other costs linked to Macau gaming sector sales rose 23 percent year-on-year in 2017, according to the latest edition of the city government’s Gaming Sector Survey published...