GGRAsia – Newsletter 3

Newsletter 3

Nomura sees 2019 returns upside even if Macau GGR shrinks

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

Japanese brokerage Nomura thinks the upside for returns on shares in U.S.-listed gaming companies with casinos in Macau could be over 20 percent even if annual gross gaming revenue (GGR) in the city...

Imperial Pacific suspends casino ops, blames super typhoon

Nov 16, 2018 Newsdesk Latest News, Top of the deck, World

A super typhoon that struck the U.S. Pacific jurisdiction of the Commonwealth of the Northern Mariana Islands (CNMI) several weeks ago is still having effects on air transport and tourism, and has...

Genting costs review to offset tax hike impact: Fitch

Nov 14, 2018 Newsdesk Latest News, Rest of Asia, Top of the deck

Fitch Ratings Inc says the proposals in Malaysia’s budget for 2019 are likely to have only a “limited impact” to Genting Bhd, the parent of Genting Malaysia Bhd. The latter runs the Resorts...

Macau GGR steady, November circa US$2.9 bln: analysts

Nov 13, 2018 Newsdesk Latest News, Macau, Top of the deck

Two brokerages forecast gross gaming revenue (GGR) in Macau casinos this month will see a marginal year-on-year increase. Sanford C. Bernstein Ltd and the stockbroking arm of Nomura issued notes on...

Travellers swings to 3Q profit on stronger gaming revenue

Nov 13, 2018 Newsdesk Latest News, Philippines, Top of the deck

Philippine casino operator Travellers International Hotel Group Inc posted a net profit of PHP134.2 million (US$2.5 million) for the third quarter of 2018. That compares with a net loss of PHP408.9...

Fame Select ups Suncity holdco stake by bond conversion

Nov 09, 2018 Newsdesk Latest News, Macau, Rest of Asia, Top of the deck

Macau gambling junket investor Alvin Chau Cheok Wa’s listed vehicle for certain investments, Suncity Group Holdings Ltd, says its majority shareholder, Fame Select Ltd, is increasing its stake in...

GEN Singapore 3Q profit up 46pct despite flat gaming rev

Nov 08, 2018 Newsdesk Latest News, Singapore, Top of the deck

Net profit at Singapore casino operator Genting Singapore Ltd rose 46 percent year-on-year in the third quarter to SGD210.4 million (US$153.4 million), compared with SGD143.79 million in the...

Games, fintech growth sees Everi notch net profit for 3Q

Nov 07, 2018 Newsdesk Latest News, Top of the deck, World

Everi Holdings Inc says it made a net profit of nearly US$2.1 million in the third quarter of this year, turning around the US$4.3-million net loss a year earlier. The U.S. supplier of cash handling...

Market again punishes GEN Malaysia on news of tax hike

Nov 06, 2018 Newsdesk Latest News, Rest of Asia, Top of the deck

The share price of casino operator Genting Malaysia Bhd suffered its biggest fall in a single trading day on Monday following an announcement by the Malaysian government that it would increase the...

Imperial Pacific raising US$38mln via bond placement

Nov 06, 2018 Newsdesk Latest News, Top of the deck, World

Imperial Pacific International Holdings Ltd, developer of a casino project on the Pacific island of Saipan, is seeking to raise HKD300 million (US$38.3 million) from a bond placement. The company...