No plans to shut down Macau casinos again as government eyes return of IVS visas
The Macau government will ask mainland China to resume issuing visas under the Individual Visit Scheme (IVS) as soon as the COVID-19 pandemic is deemed to be under control, but there are no plans to shut down Macau’s casinos again...
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Skycity to lay off 200 staff on monthly revenue loss of NZ$90 million
New Zealand-based casino operator Skycity Entertainment Group has announced that it will lay-off 200 staff and cease a majority of capital expenditure projects indefinitely in order to reduce costs. The measures come in response to government directives that have seen...
Vietnam’s first casino for locals saw more business from foreigners before virus shutdown
Vietnam’s first and so far only casino in which locals are allowed to gamble, the ironically named Corona Resort and Casino in Phú Quốc, was attracting more business from foreign guests than locals in the months prior to the COVID-19...
Korea’s Paradise Co sees casino revenue plummet 60.5% in March
South Korean casino operator Paradise Co has reported a 60.5% year-on-year decline in casino revenue to KRW19.73 billion (US$16 million) in March with the impact of COVID-19 starting to take hold. Paradise announced on 24 March that it was closing...
Crown Resorts in good shape to absorb casino shutdown but dividends unlikely: Fitch
Australian casino operator Crown Resorts is well placed to absorb the closure of its gaming operations, but may need to temporarily abandon its fixed dividend policy, according to ratings agency Fitch. In a Thursday note addressing the recent closure of...
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Sky Racing World launches Japan racing simulcasting to US audiences
Sky Racing World, a US-based subsidiary of Australian gaming and racing giant Tabcorp, is set to launch a new simulcasting product that will make Japan National Association of Racing (NAR) horse racing available to North American audiences. The service will...
Bingo specialist FBM donates Php20 million to four hospitals to fight coronavirus spread
Global gaming product developer and bingo specialist FBM has donated Php20 million (US$395,000) to four public hospitals in the Philippines, according to gaming regulator PAGCOR. Php5 million will be donated to each of Philippine General Hospital, National Kidney and Transplant...
Macau concessionaires all have “six months of breathing room” before needing to draw on debt in no-revenue scenario: Bernstein
Macau’s six gaming concessionaires all have “at least six months of breathing room” before needing to draw on any additional debt financing in the face of liquidity concerns, according to brokerage Bernstein. However, the current revenue drought brought on by...
