GGRAsia – Newsletter 4

Newsletter 4

Manila’s Winford casino gaming revenue surges in 3Q

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

The Winford Hotel and Casino posted strong gaming revenue growth in the third quarter, said operator MJC Investments Corp, a subsidiary of the Manila Jockey Club Inc. The property (pictured) –...

Macau ops not to force staff into public holiday plan: govt

Nov 15, 2018 Newsdesk Latest News, Macau, Top of the deck

Macau’s six casino operators have pledged not to force employees into accepting a new, voluntary scheme regarding enjoyment of public mandatory holidays, being proposed by the government. The news...

JCM Global lifts forecasts of annual sales, profit

Nov 14, 2018 Newsdesk Japan, Latest News, Top of the deck, World

Japan Cash Machine Co Ltd (JCM), also known as JCM Global, has increased its forecast of net sales for its financial year ending March 31 to JPY30 billion (US$263.45 million) from JPY28 billion. JCM...

Macau gaming labour reps fear holiday rights loss

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

Several Macau gaming labour groups – including one usually seen as the most aligned with the local government’s thinking – have requested withdrawal of a law amendment proposal...

Okada Manila VIP volume down 30pct q-on-q, mass growing

Nov 12, 2018 Newsdesk Latest News, Philippines, Top of the deck

Japanese gaming conglomerate Universal Entertainment Corp reported third-quarter profit of JPY167.97 billion (US$1.47 billion) on net sales of JPY67.01 billion. In 2017 the firm had changed its...

Macau court rules Wynn jointly liable for junket deposit

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

Macau’s Court of Second Instance has ruled that casino operator Wynn Macau Ltd was jointly liable for the refund of a chip deposit worth HKD6 million (US$766,440) lodged with Dore Entertainment Co...

Wynn Macau shares slide 10pct on gloomy 4Q outlook

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

Management commentary about fourth-quarter contraction in VIP business in Macau took some of the shine off the third-quarter results of Wynn Resorts Ltd, said several brokerages in notes issued after...

Visitor numbers likely up 7pct in 2018: Macau govt

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

The head of the Macao Government Tourism Office (MGTO), Maria Helena de Senna Fernandes, forecasts the number of tourists visiting Macau this year will probably rise by about 7 percent compared to...

Nomura ‘seriously doubts’ MGM-Caesars tie-up on cards

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

The stockbroking arm of Japanese financial institution Nomura has played down a New York Post story that said MGM Resorts International was interested in merging with fellow U.S.-based casino...

Lawrence Ho makes US$2.9mln cash on Studio City IPO

Nov 05, 2018 Newsdesk Latest News, Macau, Top of the deck

Melco International Development Ltd, Hong Kong-listed parent of Asian casino operator Melco Resorts and Entertainment Ltd, has announced a distribution in specie of US$5.4 million it made from the...