GGRAsia – Newsletter 3

Wynn: debt specialist warns on rapid dividend resumption

Oct 28, 2020 Newsdesk Latest News, Macau, Top of the deck

A “strong” liquidity profile and “high cash balance” should support Macau casino operator Wynn Macau Ltd through the Covid-19 crisis, said Lucror Analytics, an independent research firm based...

Pagcor gaming op income down 60pct to September 30

Oct 28, 2020 Newsdesk Latest News, Philippines, Top of the deck

Casino regulator-cum-operator the Philippine Amusement and Gaming Corp (Pagcor) reported income from gaming operations of approximately PHP22.33 billion (US$461.7 million) in the first nine months...

RWG biz normal as nearby lockdown extended: firm

Oct 27, 2020 Newsdesk Latest News, Rest of Asia, Top of the deck

Malaysia’s only casino complex, Resorts World Genting (RWG), says it “remains open as usual” despite the extension of Covid-19 countermeasures in Kuala Lumpur, Selangor and Putrajaya.The...

Macau groups, flight-hotel deals still off for mainlanders

Oct 22, 2020 Newsdesk Latest News, Macau, Top of the deck, World

China’s Ministry of Culture and Tourism confirmed on Wednesday that businesses normally involved in, respectively, “inbound and outbound” package tours involving the mainland market; and...

Sport bets a way into online tech for land casinos: IGT exec

Oct 22, 2020 Newsdesk Latest News, Trends & Tech

An upturn in sports betting – including online as a result of the disruption to casinos caused by the Covid-19 pandemic – could be a “springboard” for greater adoption by casino regulators,...

Investor view on Macau clouded by China signals: DB

Oct 20, 2020 Newsdesk Latest News, Macau, Top of the deck

Gradual improvement in Macau’s gross gaming revenue (GGR) levels should serve as a “tailwind” to drive up pricing of Macau gaming stocks, says Deutsche Bank Securities Inc. “We...

‘New abnormal’ is casino tech opportunity says GLI CEO

Oct 19, 2020 Newsdesk Industry Talk, Latest News

Being a land-based casino operator or supplier of technology to the sector must be “kind of scary”, with the current downturn associated with the Covid-19 pandemic, says James Maida (pictured in...

Paradise Co US$87mln in bonds for pandemic liquidity

Oct 16, 2020 Newsdesk Latest News, Rest of Asia, Top of the deck

Paradise Co Ltd, an operator in South Korea of foreigner-only casinos, has told GGRAsia that a recent KRW100-billion (US$87.3-million) bond offering it made was to support its liquidity during the...

Suncity listco flags 2-yr extension on convertible bonds

Oct 16, 2020 Newsdesk Latest News, Philippines, Rest of Asia, Top of the deck

Casino resort backer Suncity Group Holdings Ltd, controlled by Macau junket investor Alvin Chau Cheok Wa, says it has an agreement with a lender for a two-year extension, to December 7, 2022, on...

Four Seasons Macao suites tower launches without fanfare

Oct 14, 2020 Newsdesk Latest News, Macau, Top of the deck

Four Seasons Hotel Macao’s new all-suite tower – luxury accommodation next door to the Venetian Macao casino resort on Cotai – is now open, according to a Tuesday press release from Macau...