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Daily News

Gaming revenues fall again for Korea’s Kangwon Land Kangwon Land, operator of Korea’s only casino in which locals are allowed to gamble, booked a 9.8% year-on-year fall in revenue to KRW395.1 billion (US$354.8 million) in 3Q17, forcing net profit down 4.3% to KRW119 billion (US$106.9 million) for the period. However, the results represented a sequ...
Thursday, 09 November 2017 04:10

MGM supports DSAL’s Occupational Safety and Health Tour A group of 60 professionals and practitioners from the local hospitality and catering industry visited MGM Macau last week for an insightful presentation on MGM’s occupational safety and health (OSH) initiatives, followed by a guided tour of the resort’s catering operations and award-winning k...
Wednesday, 08 November 2017 06:23

Mother and son team swindle Cotai casino out of HK$900,000 A Macau croupier and his mother were arrested on Monday after they were caught siphoning chips from the tables he worked, the Judiciary Police has revealed. In a press conference detailing the scheme, which took place over a number of sessions between July and November, a Judiciary Police spokesman...
Wednesday, 08 November 2017 06:17

Paradise City turns to profit as Korea’s Paradise Co begins recovery Korean casino operator Paradise Co Ltd says its US$1.1 billion Paradise City integrated resort – which launched in partnership with Japan’s Sega Sammy in April – has already turned to profit. Announcing its 3Q17 financial results, which saw revenue rise 11.9% year-on-year and 40.2% sequential...
Wednesday, 08 November 2017 05:53

Cambodian government promises to closely scrutinize Naga2 operations Cambodia’s Ministry of Economy and Finance (MEF) has promised to apply greater scrutiny to the country’s biggest casino investor NagaCorp following the soft launch of its US$369 million NagaWorld extension, Naga2, last week. Discussing the company’s tax obligations in the wake of a 2016 audit...
Wednesday, 08 November 2017 05:15

Summit Ascent could see Russian tax rate double Hong Kong-listed Summit Ascent Holdings Ltd could see gaming tax at its Russian integrated resort, Tigre de Cristal, double should the Russian Federation pass a draft bill proposing an increase to allowable tax rates. In a clarification announcement to investors on Tuesday, Summit Ascent outlined i...
Wednesday, 08 November 2017 04:37

Macau market cap to double by 2022: Morgan Stanley Macau’s market capitalization could double by 2022, with gross gaming revenue (GGR) growing at a CAGR of 10% to reach US$53 billion, according to Morgan Stanley analysts. In a report titled Macau 2022 – Power of Compounding, the financial services firm suggests that Macau’s gaming industry ha...
Tuesday, 07 November 2017 05:40

Melco Resorts insist no plans to boost Morpheus VIP presence Melco Resorts Chairman and CEO Lawrence Ho says the company has no plans to push its new luxury hotel tower Morpheus further into the VIP segment once it opens in early 2018. His comments were made during the company’s 3Q17 earnings call after Melco last week announced a 19% year-on-year revenue ...
Tuesday, 07 November 2017 05:13

IR progress slow but pachinko pushes Sega Sammy results higher Japanese pachinko and entertainment company Sega Sammy Holdings has seen its revenue for the three months to 30 September 2017 increase 14.9% to JPY194.7 billion (US$1.7 billion), driven by a 36% increase in pachinko and pachislot machine sales. The pachinko and pachislot segment jumped from JPY64...
Tuesday, 07 November 2017 04:44

VIP drives improved Genting Singapore 3Q17 results Improved performance in the VIP and premium mass segments saw Genting Singapore’s revenue grow 8% year-on-year for the three months to 30 September 2017 to SG$629.9 million. Casino revenue from the group’s Resorts World Sentosa property comprised the majority of the revenue growth, increasing 1...
Tuesday, 07 November 2017 04:16

What's new

Lamborghini Macau showroom opening

Lamborghini Macau showroom opening The IAG team took a break from the real world this week to attend the launch of Lamborghini's new Macau showroom Friday, 15 December 2017 07:01

Melco supports annual Macau charity event “Walk for a Million 2017”

Melco supports annual Macau charity event “Walk for a Million 2017” Melco Resorts & Entertainment Limited threw weight behind the Macau annual charity event “Walk for a Million” organized by the Readers of Macao Daily News Charity Fund. A record number of participants, with a 2,300-strong force comprising of over 2,000 adults and 300 kids carried on Melco’... Friday, 15 December 2017 05:55

Wynn to buy former Alon Las Vegas site as Crown Resorts fire sale gains momentum

Wynn to buy former Alon Las Vegas site as Crown Resorts fire sale gains momentum By Ben Blaschke The Las Vegas Strip site formerly pegged for Crown Resorts’ ambitious US$2.5 billion Alon Las Vegas project has been snapped up by Wynn Resorts. In a Thursday announcement, Crown said it had entered into an agreement with a subsidiary of Wynn Resorts Ltd to sell the vacant 34.6 a... Friday, 15 December 2017 05:41

Novomatic to acquire majority Ainsworth stake on 5 January 2018

Novomatic to acquire majority Ainsworth stake on 5 January 2018 Australian slot machine manufacturer Ainsworth Game Technology has announced 5 January 2018 as the completion date for the sale of founder Len Ainsworth’s 52% stake in the company to Novomatic. In a filing to the Australian Securities Exchange, Ainsworth said it had been advised by Novomatic that... Friday, 15 December 2017 05:07

Current Issue

2017 Inside Asian Gaming Power 50: Meet the Selection Panel

2017 Inside Asian Gaming Power 50: Meet the Selection Panel Andrew W Scott CEOInside Asian Gaming Inside Asian Gaming’s CEO first entered a casino in 1986, fell in love with the surrounds and has been around them ever since. Andrew founded World Gaming Group and launched WGM in 2009, took over IAG in 2015, debuted a third magazine called High Life in ... Tuesday, 05 December 2017 19:28

2017 Inside Asian Gaming Power 50: Ten Years On

2017 Inside Asian Gaming Power 50: Ten Years On A decade of making the Asian Gaming Power 50 By Andrew W ScottIAG Asian Gaming Power 50 selection panel Chairman EVERY year for the last decade, Inside Asian Gaming has completed a task that is fascinating, exhilarating, intellectually stimulating and industry-defining whilst simultaneously bei... Tuesday, 05 December 2017 19:12

2017 Inside Asian Gaming Power 50: Number 19 -  James Murren

2017 Inside Asian Gaming Power 50: Number 19 - James Murren 19 James Murren CHAIRPERSON AND EXECUTIVE DIRECTORMGM China Holdings POWER SCORE1,165 LAST YEAR12 CLAIMS TO FAME • Chairman of the world’s second largest casino company • Credited with keeping MGM Resorts afloat during the GFC If the strong domestic results achieved by MGM China’s pa... Tuesday, 05 December 2017 14:44

2017 Inside Asian Gaming Power 50: Number 18 - Chen Lip Keong

2017 Inside Asian Gaming Power 50: Number 18 - Chen Lip Keong 18 Chen Lip Keong CEO AND EXECUTIVE DIRECTORNagaCorp POWER SCORE1,234 LAST YEAR20 CLAIMS TO FAME • Casino monopoly within 200 kilometers of Phnom Penh runs to 2035, license to 2065. • Owns 65% of first gaming company ever listed in Hong Kong • NagaWorld extension Naga2 debuted in Novemb... Tuesday, 05 December 2017 14:39