Casino floor space, minimum hotel size among IR regulations approved by Japanese Cabinet
The Japanese government has given cabinet approval to the Development and Promotion Ordinance for Integrated Resorts, locking in place a range of key regulations governing the size and scope of the nation’s first integrated resorts. The contents of the cabinet...
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Paradise enjoys 15.1% revenue surge in 2018 as Macau’s EGM demand grows
Macau’s Paradise Entertainment Limited saw revenue grow 15.1% to HK$1.16 billion (US$148.3 million) in the 12 months to 31 December 2018, with both its casino management and operations segment and sales of electronic gaming equipment and systems segment enjoying increases....
Galaxy’s Philippines partner LRWC to raise US$588 million through share release
Philippines gaming firm Leisure and Resorts World Corp (LRWC) says it will raise a total of Php4.38 billion (US$588 million) from six new investors after shareholders approved the issuance of more than 1.3 billion common shares of unissued capital stock....
Asia-Pacific leads GPI to strong revenue, profit growth in 2018
Casino equipment supplier Gaming Partners International (GPI) has booked a 7.9% increase in revenue to US$87 million and 19.2% boost in gross profit to US$27 million in the year ended 31 December 2018, largely driven by strong growth in Asia-Pacific,...
Macau GGR trending downwards in March
Analysts from brokerage Sanford C Bernstein have lowered their March estimates following a weaker than expected seven days that saw VIP volume plummet by almost 20% compared with the same period in 2018. In a Monday note, analysts Vitaly Umansky,...
Lim Kok Thay sees Genting Malaysia shareholding edge towards 50%
Genting Group Chairman and CEO Lim Kok Thay has seen his interest in the company’s Malaysian subsidiary, Genting Malaysia, edge closer to 50% after four batches of ordinary shares vested and were credited to him this week. In a Monday...
282 evacuated as hotel fire breaks out at Korea’s Paradise City
Almost 300 guests were evacuated from Korea’s Paradise City integrated resort in Incheon after a fire broke out on the third floor of the hotel on Sunday. According to local media reports, as many as 38 fire trucks carrying more...
New Philippines interagency task force to fast-track POGO worker crackdown
A new interagency task force established to crackdown on illegal online gambling activities in the Philippines will fast-track completion of a list of foreign nationals employed by Philippine Offshore Gaming Operations (POGOs), the Department of Finance revealed on Monday. According...
