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Monday 8 March 2021
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  • NEWS
    Donaco looks inward as Lee Bug Huy named new CEO

    Thailand unlikely to legalize casino gambling, prospects bright for Cambodia’s border casinos: Donaco

    IAG Spot Count: Macau satellite and 2nd tier casinos keep chugging along

    Macau should adjust the ratio of contribution from gaming to the economy: Beijing

    Wynn Palace

    Wynn Macau offers two special vacation days to staff who receive COVID-19 vaccine

    Sihanoukville locks down borders as Cambodia hit with first major COVID-19 outbreak  

    Sihanoukville locks down borders as Cambodia hit with first major COVID-19 outbreak  

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

    Philippines tax bureau predicting near 50% fall in POGO tax revenue in 2021

    Bally’s makes US$100 million offer to acquire World Poker Tour

    Bally’s makes US$100 million offer to acquire World Poker Tour

    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
                Inside Asian Gaming to introduce unique event concept for Macau After Dark 8 at Portuguese restaurant Portucau

                Inside Asian Gaming to introduce unique event concept for Macau After Dark 8 at Portuguese restaurant Portucau

                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

                Trending Tags

                • MACAU
                  IAG Spot Count: Macau satellite and 2nd tier casinos keep chugging along

                  Macau should adjust the ratio of contribution from gaming to the economy: Beijing

                  Wynn Palace

                  Wynn Macau offers two special vacation days to staff who receive COVID-19 vaccine

                  Inside Asian Gaming to introduce unique event concept for Macau After Dark 8 at Portuguese restaurant Portucau

                  Inside Asian Gaming to introduce unique event concept for Macau After Dark 8 at Portuguese restaurant Portucau

                  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

                  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
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                      • Nepal
                      • New Zealand
                      • North America
                      • North Korea
                      • Philippines
                      • Russia
                      • Singapore
                      • South Korea
                      • Sri Lanka
                      • Thailand
                      • Vietnam
                      Donaco looks inward as Lee Bug Huy named new CEO

                      Thailand unlikely to legalize casino gambling, prospects bright for Cambodia’s border casinos: Donaco

                      IAG Spot Count: Macau satellite and 2nd tier casinos keep chugging along

                      Macau should adjust the ratio of contribution from gaming to the economy: Beijing

                      Wynn Palace

                      Wynn Macau offers two special vacation days to staff who receive COVID-19 vaccine

                      Sihanoukville locks down borders as Cambodia hit with first major COVID-19 outbreak  

                      Sihanoukville locks down borders as Cambodia hit with first major COVID-19 outbreak  

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

                      Philippines tax bureau predicting near 50% fall in POGO tax revenue in 2021

                      Bally’s makes US$100 million offer to acquire World Poker Tour

                      Bally’s makes US$100 million offer to acquire World Poker Tour

                      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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                        • NEWS
                          Donaco looks inward as Lee Bug Huy named new CEO

                          Thailand unlikely to legalize casino gambling, prospects bright for Cambodia’s border casinos: Donaco

                          IAG Spot Count: Macau satellite and 2nd tier casinos keep chugging along

                          Macau should adjust the ratio of contribution from gaming to the economy: Beijing

                          Wynn Palace

                          Wynn Macau offers two special vacation days to staff who receive COVID-19 vaccine

                          Sihanoukville locks down borders as Cambodia hit with first major COVID-19 outbreak  

                          Sihanoukville locks down borders as Cambodia hit with first major COVID-19 outbreak  

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

                          Philippines tax bureau predicting near 50% fall in POGO tax revenue in 2021

                          Bally’s makes US$100 million offer to acquire World Poker Tour

                          Bally’s makes US$100 million offer to acquire World Poker Tour

                          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
                                      Inside Asian Gaming to introduce unique event concept for Macau After Dark 8 at Portuguese restaurant Portucau

                                      Inside Asian Gaming to introduce unique event concept for Macau After Dark 8 at Portuguese restaurant Portucau

                                      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

                                      Trending Tags

                                      • MACAU
                                        IAG Spot Count: Macau satellite and 2nd tier casinos keep chugging along

                                        Macau should adjust the ratio of contribution from gaming to the economy: Beijing

                                        Wynn Palace

                                        Wynn Macau offers two special vacation days to staff who receive COVID-19 vaccine

                                        Inside Asian Gaming to introduce unique event concept for Macau After Dark 8 at Portuguese restaurant Portucau

                                        Inside Asian Gaming to introduce unique event concept for Macau After Dark 8 at Portuguese restaurant Portucau

                                        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

                                        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
                                            Donaco looks inward as Lee Bug Huy named new CEO

                                            Thailand unlikely to legalize casino gambling, prospects bright for Cambodia’s border casinos: Donaco

                                            IAG Spot Count: Macau satellite and 2nd tier casinos keep chugging along

                                            Macau should adjust the ratio of contribution from gaming to the economy: Beijing

                                            Wynn Palace

                                            Wynn Macau offers two special vacation days to staff who receive COVID-19 vaccine

                                            Sihanoukville locks down borders as Cambodia hit with first major COVID-19 outbreak  

                                            Sihanoukville locks down borders as Cambodia hit with first major COVID-19 outbreak  

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

                                            Philippines tax bureau predicting near 50% fall in POGO tax revenue in 2021

                                            Bally’s makes US$100 million offer to acquire World Poker Tour

                                            Bally’s makes US$100 million offer to acquire World Poker Tour

                                            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

                                              • 中文
                                              No Result
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                                              South Shore fighting to avoid liquidation, seizure of Macau’s THE 13 Hotel after bank demands full payment of HK$2.48 billion loan

                                              Ben Blaschke by Ben Blaschke
                                              Tuesday 7 April 2020 at 05:39
                                              South Shore Holdings issues profit warning over THE 13

                                              THE 13 Hotel

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                                              South Shore Holdings Ltd says it has applied to its bank for a “standstill” to prevent enforcement of security over THE 13 Hotel in Macau and liquidation of the company after the bank issued a demand for immediate payment of HK$2.48 billion owing under its facility agreement.

                                              The demand, which covers the entire principal amount plus interest, comes after the company was unable to pay HK$470 million due on 31 March 2020, which it had previously anticipated would be sourced from the disposal of a 50% interest in Uni-Dragon Ltd, the subsidiary that beneficially owns THE 13. That disposal has yet to be completed.

                                              On Monday, South Shore said neither its “borrowing entity nor the company can repay at this time” and that it has instead applied to the bank for a standstill, “in essence seeking assurances from the bank that it will not take imminent steps either to enforce its security over THE 13 Hotel or to liquidate the Company, and envisages working closely with the bank to achieve an orderly divestment of the Company’s interests in THE 13 Hotel.”

                                              South Shore also revealed it has reached agreement with the prospective buyers of the 50% stake in THE 13 to extend the long-stop date from 14 April 2020 to 14 June 2020 in order to ensure fulfilment of certain conditions under the Sale and Purchase Agreements. The company cited the “severe adverse effect of the COVID-19 pandemic on the state of the market, in Macau and generally,” as a reason for recent delays.

                                              It was October last year when South Shore first revealed it was planning to sell up to a 50% stake in its embattled THE 13 project for HK$750 million and November when it released details of the agreement, involving a trio of Hong Kong companies.

                                              Shortly afterwards, South Shore reported a loss of HK$506.7 million for the six months to 30 September 2019, 15% higher than the prior year period due to increased costs at THE 13 Hotel.

                                              Located south of the Cotai Strip, THE 13 Hotel opened on 31 August 2018 following a series of delays due to funding problems. However, a number of rooms remain unfinished and the company has made no attempt to apply for a gaming license despite having space for 66 gaming tables under a potential “service agreement” arrangement it previously reached with Macau concessionaire Melco Resorts and Entertainment.

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                                              Macau denies Hong Kong’s quarantine extension will affect border reopening negotiations

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                                              Tags: Cotai Stripfacility agreementGamingSouth Shore HoldingsThe 13 Hotel
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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.

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