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Thursday 4 March 2021
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  • NEWS
    Analysts agree VIP sector woes to remain for years to come

    Macau government sees gaming tax revenue fall 63.6% year-on-year in January

    lim kok thay

    Genting Malaysia asks staff to take further pay cuts on latest COVID-19 impact: report

    Scientific Games, Agilysys lead strong growth in AGEM Index in February

    Scientific Games, Agilysys lead strong growth in AGEM Index in February

    Sheldon Adelson

    Sands sells all Las Vegas assets, focus now on reinvestment in Asia

    Korea’s Paradise Co continues upward momentum in February

    Paradise Co continues to slide with February casino sales down 36.5% sequentially

    Imperial Pacific to “vigorously defend” exclusive gaming rights on Saipan

    Imperial Pacific likely to have casino license suspended following admission of multiple violations

    Trending Tags

    • FEATURES
      Uneasy alliance

      Uneasy alliance

      Turning RG Japanese

      Turning RG Japanese

      2021: Japan IR – Crunch time part 2

      2021: Japan IR – Crunch time part 2

      Diving into digital

      Diving into digital

      10 years ago: Many happy returns

      10 years ago: Many happy returns

      RG and the  player journey

      RG and the player journey

      Trending Tags

      • PEOPLE
        Home is where the heart is

        Home is where the heart is

        Dave Smith: Smell of success

        Dave Smith: Smell of success

        Scientific Games insists liquidity position strong after adding US$480 million in debt, cutting costs

        Scientific Games appoints Eileen Moore Johnson as Executive Vice President and Chief Human Resources Officer

        Creation theory

        Creation theory

        Paltronics announces passing of Stephen Cowan, much-admired Managing Director

        Paltronics announces passing of Stephen Cowan, much-admired Managing Director

        Dark days

        POST-COVID2: The most transformative business shock of our lifetimes

        Trending Tags

        • COLUMNISTS
          Gateway to Japan

          OPINION: Japan seeking its pound of flesh

          Memories of the man that was Sheldon Adelson

          Memories of the man that was Sheldon Adelson

          Big money

          A decade of differentiation

          A decade of differentiation

          How to set up for IR success

          How to set up for IR success

          Macau: Taking a sensible approach to responsible gaming

          Macau: Taking a sensible approach to responsible gaming

          Trending Tags

          • TECH TALK
            Scientific Games granted approval for release of third Duo Fu Duo Cai game into Asia

            Scientific Games granted approval for release of third Duo Fu Duo Cai game into Asia

            Aristocrat launches new MarsX Portrait cabinet

            Aristocrat launches new MarsX Portrait cabinet

            Cat call

            Cat call

            Asia Pioneer Entertainment keeping up the pace in challenging times

            Asia Pioneer Entertainment keeping up the pace in challenging times

            Two more TVBET card games granted GLI certification

            Two more TVBET card games granted GLI certification

            Scientific Games granted approval for latest Jin Ji Bao Xi game “Singing Cats”

            Scientific Games granted approval for latest Jin Ji Bao Xi game “Singing Cats”

            Trending Tags

            • iGAMING
              TVBET expands through Alavara Digital partnership

              TVBET expands through Alavara Digital partnership

              Live-games integration as an effective marketing tool for increasing bets

              TVBET to enter the Montenegro iGaming market

              Manila restrictions ease as Duterte implements General Community Quarantine for National Capital Region

              Philippine police arrest eight alleged members of POGO-linked “kidnap for ransom” gang

              PAGCOR reveals substantial POGO revenue rise in 2018 as enforcement role defended

              Philippines court order preventing new 5% franchise tax could halt POGO exodus

              MGM Resorts looking to raise US$750 million via senior notes offering

              MGM Resorts considering US$13 billion takeover offer for Ladbrokes owner Entain

              Evolution launches world’s first online live Craps game

              Evolution launches world’s first online live Craps game

              Trending Tags

              • EVENTS
                Macau Wine & Dine returns this week with unique tasting event at Artyzen Grand Lapa Macau

                Macau Wine & Dine returns this week with unique tasting event at Artyzen Grand Lapa Macau

                Inside Asian Gaming names Portucau as venue for Macau After Dark 8 on 5 March 2021

                Inside Asian Gaming names Portucau as venue for Macau After Dark 8 on 5 March 2021

                Winter wonderland

                Clarion Gaming cancels this year’s ICE London

                AIGF leaders join SBC Digital India’s high-level speaker line-up

                AIGF leaders join SBC Digital India’s high-level speaker line-up

                Winter wonderland

                Alex Pratt, Stuart Hunter take the reins as ICE organizer Clarion Gaming announces management changes

                Founders of leading Indian gaming companies among speakers at upcoming SBC Digital India

                Founders of leading Indian gaming companies among speakers at upcoming SBC Digital India

                Trending Tags

                • MACAU
                  Analysts agree VIP sector woes to remain for years to come

                  Macau government sees gaming tax revenue fall 63.6% year-on-year in January

                  4Q20 key metrics for Macau gaming companies

                  4Q20 key metrics for Macau gaming companies

                  Closing all borders not an option despite government order to shutter 41 Macau casinos for 15 days

                  Macau casinos to no longer require negative COVID-19 test result for entry

                  IAG welcomes sponsors and supporters ahead of Macau After Dark 8

                  IAG welcomes sponsors and supporters ahead of Macau After Dark 8

                  Occupancy rate of Macau hotels falls to 40.3% in January

                  Occupancy rate of Macau hotels falls to 40.3% in January

                  COVID-19 vaccine could be available by October after “world first” facility in Beijing granted production approval

                  Macau health authorities to focus on casino workers in second stage of vaccination rollout

                  Trending Tags

                  • JAPAN
                    Las Vegas Sands unlikely to return to Japan despite potential Tokyo lure

                    Japanese Minister says interest of foreign companies shows Japan’s IRs will be profitable

                    IAG Vice Chairman and CEO Andrew W Scott among speakers as Nagasaki hosts first symposium on international tourism HR development

                    IAG Vice Chairman and CEO Andrew W Scott among speakers as Nagasaki hosts first symposium on international tourism HR development

                    Gateway to Japan

                    Pixel Companyz reports US$8.8 million loss in FY20 but confident in revenue potential of Nagasaki IR

                    Pixel Companyz recruits Japanese Olympic gymnast Kohei Uchimura as ambassador for Nagasaki IR bid

                    Pixel Companyz recruits Japanese Olympic gymnast Kohei Uchimura as ambassador for Nagasaki IR bid

                    Akimoto arrested for fourth time in Japan IR bribery case

                    Trial of Japanese politician Tsukasa Akimoto on bribery charges set for 29 March

                    Lawrence Ho says Melco’s China ties will drive Japanese IR growth

                    Lawrence Ho says Melco still committed to Japan but looking for the “right opportunity”

                    Trending Tags

                    • REGIONAL
                      • All
                      • Africa
                      • Australia
                      • Cambodia
                      • China
                      • CNMI
                      • Europe
                      • Hong Kong
                      • India
                      • Japan
                      • Laos
                      • Latin America
                      • Macau
                      • Malaysia
                      • Nepal
                      • New Zealand
                      • North America
                      • North Korea
                      • Philippines
                      • Russia
                      • Singapore
                      • South Korea
                      • Sri Lanka
                      • Thailand
                      • Vietnam
                      Analysts agree VIP sector woes to remain for years to come

                      Macau government sees gaming tax revenue fall 63.6% year-on-year in January

                      lim kok thay

                      Genting Malaysia asks staff to take further pay cuts on latest COVID-19 impact: report

                      Scientific Games, Agilysys lead strong growth in AGEM Index in February

                      Scientific Games, Agilysys lead strong growth in AGEM Index in February

                      Sheldon Adelson

                      Sands sells all Las Vegas assets, focus now on reinvestment in Asia

                      Korea’s Paradise Co continues upward momentum in February

                      Paradise Co continues to slide with February casino sales down 36.5% sequentially

                      Imperial Pacific to “vigorously defend” exclusive gaming rights on Saipan

                      Imperial Pacific likely to have casino license suspended following admission of multiple violations

                      Trending Tags

                      • POWER 50
                        2020 Asian Gaming Power 50: Top of the World

                        Singapore Court of Appeals denies Bloomberry’s latest appeal in long-running battle with GGAM over terminated Solaire agreement

                        Power restored

                        Power restored

                        2020 Asian Gaming Power 50: Top of the World

                        2020 Asian Gaming Power 50: Top of the World

                        2020 Asian Gaming Power 50: Meet the panel

                        2020 Asian Gaming Power 50: Meet the panel

                        2020 Asian Gaming Power 50: Ones to watch

                        2020 Asian Gaming Power 50 list

                        2020 Asian Gaming Power 50: Number 4 – Lawrence Ho

                        2020 Asian Gaming Power 50: Number 1 – Francis Lui

                        Trending Tags

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                        IAG
                        • NEWS
                          Analysts agree VIP sector woes to remain for years to come

                          Macau government sees gaming tax revenue fall 63.6% year-on-year in January

                          lim kok thay

                          Genting Malaysia asks staff to take further pay cuts on latest COVID-19 impact: report

                          Scientific Games, Agilysys lead strong growth in AGEM Index in February

                          Scientific Games, Agilysys lead strong growth in AGEM Index in February

                          Sheldon Adelson

                          Sands sells all Las Vegas assets, focus now on reinvestment in Asia

                          Korea’s Paradise Co continues upward momentum in February

                          Paradise Co continues to slide with February casino sales down 36.5% sequentially

                          Imperial Pacific to “vigorously defend” exclusive gaming rights on Saipan

                          Imperial Pacific likely to have casino license suspended following admission of multiple violations

                          Trending Tags

                          • FEATURES
                            Uneasy alliance

                            Uneasy alliance

                            Turning RG Japanese

                            Turning RG Japanese

                            2021: Japan IR – Crunch time part 2

                            2021: Japan IR – Crunch time part 2

                            Diving into digital

                            Diving into digital

                            10 years ago: Many happy returns

                            10 years ago: Many happy returns

                            RG and the  player journey

                            RG and the player journey

                            Trending Tags

                            • PEOPLE
                              Home is where the heart is

                              Home is where the heart is

                              Dave Smith: Smell of success

                              Dave Smith: Smell of success

                              Scientific Games insists liquidity position strong after adding US$480 million in debt, cutting costs

                              Scientific Games appoints Eileen Moore Johnson as Executive Vice President and Chief Human Resources Officer

                              Creation theory

                              Creation theory

                              Paltronics announces passing of Stephen Cowan, much-admired Managing Director

                              Paltronics announces passing of Stephen Cowan, much-admired Managing Director

                              Dark days

                              POST-COVID2: The most transformative business shock of our lifetimes

                              Trending Tags

                              • COLUMNISTS
                                Gateway to Japan

                                OPINION: Japan seeking its pound of flesh

                                Memories of the man that was Sheldon Adelson

                                Memories of the man that was Sheldon Adelson

                                Big money

                                A decade of differentiation

                                A decade of differentiation

                                How to set up for IR success

                                How to set up for IR success

                                Macau: Taking a sensible approach to responsible gaming

                                Macau: Taking a sensible approach to responsible gaming

                                Trending Tags

                                • TECH TALK
                                  Scientific Games granted approval for release of third Duo Fu Duo Cai game into Asia

                                  Scientific Games granted approval for release of third Duo Fu Duo Cai game into Asia

                                  Aristocrat launches new MarsX Portrait cabinet

                                  Aristocrat launches new MarsX Portrait cabinet

                                  Cat call

                                  Cat call

                                  Asia Pioneer Entertainment keeping up the pace in challenging times

                                  Asia Pioneer Entertainment keeping up the pace in challenging times

                                  Two more TVBET card games granted GLI certification

                                  Two more TVBET card games granted GLI certification

                                  Scientific Games granted approval for latest Jin Ji Bao Xi game “Singing Cats”

                                  Scientific Games granted approval for latest Jin Ji Bao Xi game “Singing Cats”

                                  Trending Tags

                                  • iGAMING
                                    TVBET expands through Alavara Digital partnership

                                    TVBET expands through Alavara Digital partnership

                                    Live-games integration as an effective marketing tool for increasing bets

                                    TVBET to enter the Montenegro iGaming market

                                    Manila restrictions ease as Duterte implements General Community Quarantine for National Capital Region

                                    Philippine police arrest eight alleged members of POGO-linked “kidnap for ransom” gang

                                    PAGCOR reveals substantial POGO revenue rise in 2018 as enforcement role defended

                                    Philippines court order preventing new 5% franchise tax could halt POGO exodus

                                    MGM Resorts looking to raise US$750 million via senior notes offering

                                    MGM Resorts considering US$13 billion takeover offer for Ladbrokes owner Entain

                                    Evolution launches world’s first online live Craps game

                                    Evolution launches world’s first online live Craps game

                                    Trending Tags

                                    • EVENTS
                                      Macau Wine & Dine returns this week with unique tasting event at Artyzen Grand Lapa Macau

                                      Macau Wine & Dine returns this week with unique tasting event at Artyzen Grand Lapa Macau

                                      Inside Asian Gaming names Portucau as venue for Macau After Dark 8 on 5 March 2021

                                      Inside Asian Gaming names Portucau as venue for Macau After Dark 8 on 5 March 2021

                                      Winter wonderland

                                      Clarion Gaming cancels this year’s ICE London

                                      AIGF leaders join SBC Digital India’s high-level speaker line-up

                                      AIGF leaders join SBC Digital India’s high-level speaker line-up

                                      Winter wonderland

                                      Alex Pratt, Stuart Hunter take the reins as ICE organizer Clarion Gaming announces management changes

                                      Founders of leading Indian gaming companies among speakers at upcoming SBC Digital India

                                      Founders of leading Indian gaming companies among speakers at upcoming SBC Digital India

                                      Trending Tags

                                      • MACAU
                                        Analysts agree VIP sector woes to remain for years to come

                                        Macau government sees gaming tax revenue fall 63.6% year-on-year in January

                                        4Q20 key metrics for Macau gaming companies

                                        4Q20 key metrics for Macau gaming companies

                                        Closing all borders not an option despite government order to shutter 41 Macau casinos for 15 days

                                        Macau casinos to no longer require negative COVID-19 test result for entry

                                        IAG welcomes sponsors and supporters ahead of Macau After Dark 8

                                        IAG welcomes sponsors and supporters ahead of Macau After Dark 8

                                        Occupancy rate of Macau hotels falls to 40.3% in January

                                        Occupancy rate of Macau hotels falls to 40.3% in January

                                        COVID-19 vaccine could be available by October after “world first” facility in Beijing granted production approval

                                        Macau health authorities to focus on casino workers in second stage of vaccination rollout

                                        Trending Tags

                                        • JAPAN
                                          Las Vegas Sands unlikely to return to Japan despite potential Tokyo lure

                                          Japanese Minister says interest of foreign companies shows Japan’s IRs will be profitable

                                          IAG Vice Chairman and CEO Andrew W Scott among speakers as Nagasaki hosts first symposium on international tourism HR development

                                          IAG Vice Chairman and CEO Andrew W Scott among speakers as Nagasaki hosts first symposium on international tourism HR development

                                          Gateway to Japan

                                          Pixel Companyz reports US$8.8 million loss in FY20 but confident in revenue potential of Nagasaki IR

                                          Pixel Companyz recruits Japanese Olympic gymnast Kohei Uchimura as ambassador for Nagasaki IR bid

                                          Pixel Companyz recruits Japanese Olympic gymnast Kohei Uchimura as ambassador for Nagasaki IR bid

                                          Akimoto arrested for fourth time in Japan IR bribery case

                                          Trial of Japanese politician Tsukasa Akimoto on bribery charges set for 29 March

                                          Lawrence Ho says Melco’s China ties will drive Japanese IR growth

                                          Lawrence Ho says Melco still committed to Japan but looking for the “right opportunity”

                                          Trending Tags

                                          • REGIONAL
                                            • All
                                            • Africa
                                            • Australia
                                            • Cambodia
                                            • China
                                            • CNMI
                                            • Europe
                                            • Hong Kong
                                            • India
                                            • Japan
                                            • Laos
                                            • Latin America
                                            • Macau
                                            • Malaysia
                                            • Nepal
                                            • New Zealand
                                            • North America
                                            • North Korea
                                            • Philippines
                                            • Russia
                                            • Singapore
                                            • South Korea
                                            • Sri Lanka
                                            • Thailand
                                            • Vietnam
                                            Analysts agree VIP sector woes to remain for years to come

                                            Macau government sees gaming tax revenue fall 63.6% year-on-year in January

                                            lim kok thay

                                            Genting Malaysia asks staff to take further pay cuts on latest COVID-19 impact: report

                                            Scientific Games, Agilysys lead strong growth in AGEM Index in February

                                            Scientific Games, Agilysys lead strong growth in AGEM Index in February

                                            Sheldon Adelson

                                            Sands sells all Las Vegas assets, focus now on reinvestment in Asia

                                            Korea’s Paradise Co continues upward momentum in February

                                            Paradise Co continues to slide with February casino sales down 36.5% sequentially

                                            Imperial Pacific to “vigorously defend” exclusive gaming rights on Saipan

                                            Imperial Pacific likely to have casino license suspended following admission of multiple violations

                                            Trending Tags

                                            • POWER 50
                                              2020 Asian Gaming Power 50: Top of the World

                                              Singapore Court of Appeals denies Bloomberry’s latest appeal in long-running battle with GGAM over terminated Solaire agreement

                                              Power restored

                                              Power restored

                                              2020 Asian Gaming Power 50: Top of the World

                                              2020 Asian Gaming Power 50: Top of the World

                                              2020 Asian Gaming Power 50: Meet the panel

                                              2020 Asian Gaming Power 50: Meet the panel

                                              2020 Asian Gaming Power 50: Ones to watch

                                              2020 Asian Gaming Power 50 list

                                              2020 Asian Gaming Power 50: Number 4 – Lawrence Ho

                                              2020 Asian Gaming Power 50: Number 1 – Francis Lui

                                              Trending Tags

                                              No Result
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                                              IAG
                                              No Result
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                                              Donaco wins injunction against Thai vendor to freeze major shareholding

                                              Ben Blaschke by Ben Blaschke
                                              Tuesday 3 April 2018 at 11:33
                                              4
                                              SHARES
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                                              Print Friendly, PDF & Email

                                              Australian-listed Donaco International Limited has been granted an injunction by the Supreme Court of New South Wales to freeze the shares held by the Thai vendors of its Star Vegas casino resort in Cambodia.

                                              Donaco is seeking damages of US$120 million from the vendors – named as Somboon Sukcharoenkraisri and his two sons Lee Bug Huy and Lee Bug Tong – for continuing to run gaming operations in defiance of non-compete provisions at Star Paradise, which is located adjacent to Star Vegas in Poipet.

                                              The trio had previously been granted permission to host gaming facilities under the management of Donaco in a deal that saw the latter paid a monthly management fee of THB5 million (US$151,000), but that agreement expired in 2017 with no new management arrangements put in place. Under the terms of non-compete provisions, the vendor is not allowed to be involved in any other casino or gaming business in the Poipet area.

                                              Donaco won an injunction via a Cambodian court in December to close Star Paradise casino and is continuing to pursue enforcement of its legal rights via arbitration proceedings in Singapore. Arbitration awards from Singapore can be enforced in both Cambodia and Thailand.

                                              In a filing to the Australian Securities Exchange on Tuesday, Donaco announced that it has now been granted an ex parte interlocutory order in the nature of a Mareva injunction in NSW to freeze the Donaco shares held by the Thai vendors.

                                              The order “restrains the defendants, by themselves and their servants and agents, from selling, disposing of or otherwise alienating their interest in the share capital of Donaco, until the final resolution and payment of any award of damages in the Singapore arbitration proceedings initiated by Donaco.”

                                              The defendants own 148 million shares in Donaco, representing approximately 17.9% of the company’s issued capital.

                                              The proceedings are listed again before the Supreme Court in Sydney on 6 April 2018 for a continuation of the interlocutory order.

                                              RelatedPosts

                                              Donaco posts positive EBITDA in 1H21 on cost controls

                                              Monday 1 March 2021 at 03:32
                                              Donaco looks inward as Lee Bug Huy named new CEO

                                              VIP focus, cost savings help Donaco return to positive EBITDA in 4Q20

                                              Sunday 31 January 2021 at 06:41
                                              Donaco looks inward as Lee Bug Huy named new CEO

                                              Donaco concludes settlement agreement with Star Vegas following bank approval

                                              Monday 11 January 2021 at 18:12
                                              Donaco looks inward as Lee Bug Huy named new CEO

                                              “Strategic initiatives” drive Donaco to positive EBITDA in October and November

                                              Friday 18 December 2020 at 06:47
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                                              Tags: ASXAustralian Securities ExchangeDonacoLawsuitLee Bug HuyLee Bug TongPoipetshareholdingSomboon SukcharoenkraisriStar ParadiseStar Vegas
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                                              Ben Blaschke

                                              Ben Blaschke

                                              A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

                                              Current Issue

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                                              Thursday 11 February 2021 at 10:55

                                              In Part 2 of IAG Japan’s interview with Dr Naoyuki Nishimura, he discusses his role as Chairman of JSRG (Japan...

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                                              Wednesday 10 February 2021 at 10:52

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                                              Related Posts

                                              Analysts agree VIP sector woes to remain for years to come

                                              Macau government sees gaming tax revenue fall 63.6% year-on-year in January

                                              by Newsdesk
                                              Thursday 4 March 2021 at 05:29

                                              The Macau government took in gaming taxes from concessionaires of MOP$3.21 billion (US$402 million) in January, down 63.6% year-on-year. The January figure, published by the Financial Services Bureau this week, represents just 6.2% of the government’s 2021budget for revenue from...

                                              lim kok thay

                                              Genting Malaysia asks staff to take further pay cuts on latest COVID-19 impact: report

                                              by Ben Blaschke
                                              Thursday 4 March 2021 at 05:12

                                              Genting Malaysia, operator of Malaysia’s Resorts World Genting, has reportedly asked some employees to undergo further staff pay cuts as it looks to limit the damage from the ongoing COVID-19 pandemic. According to a report by Bloomberg, an internal Genting...

                                              Scientific Games, Agilysys lead strong growth in AGEM Index in February

                                              Scientific Games, Agilysys lead strong growth in AGEM Index in February

                                              by Newsdesk
                                              Thursday 4 March 2021 at 04:50

                                              The AGEM Index – a monthly stock performance guide comprising 13 global gaming suppliers – surged by 8.0% or 55.72 points to 751.79 points in February 2021, driven by stock increases from software supplier Agilysys and global gaming giant Scientific...

                                              Sheldon Adelson

                                              Sands sells all Las Vegas assets, focus now on reinvestment in Asia

                                              by Ben Blaschke
                                              Thursday 4 March 2021 at 04:22

                                              Las Vegas Sands has reached an agreement with two separate investment groups that will see it sell its entire Las Vegas portfolio for US$6.25 billion. The company announced late Wednesday (Asia time) that funds managed by affiliates of Apollo Global...

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