Donaco’s US$190 million Singapore court case against Thai vendors delayed
A Singapore court case brought by Donaco International Limited against the Thai vendors of its Cambodian casino, Star Vegas, in pursuit of US$190 million in damages has been delayed by four months, the company revealed on Wednesday. The arbitration claim...
Read moreCurrent issue
Genting Malaysia to form part of new merged entity taking full ownership of New York’s Empire Resorts
Genting Malaysia has entered into a binding term sheet with Kien Huat Realty III Ltd, the family trust of its Chairman Lim Kok Thay, for the company’s wholly-owned subsidiary Genting (USA) Ltd to acquire 13.2 million shares in Empire Resorts,...
Singapore’s international visitation up, spending down in 1Q19
Singapore welcomed more international visitors in the first quarter of 2019 than over the same period 12 months earlier, however their spending fell 4.7% including a 3% decline in the Sightseeing, Entertainment and Gaming segment. The 1Q19 figures formed part...
High VIP win rate keeps Genting Singapore’s 2Q19 results respectable despite 5% profit fall
Genting Singapore has pointed to a series of challenging headwinds for a 5% year-on-year decline in net profit to SG$168.4 million in the three months to 30 June 2019, warning the decline would have been significantly greater if not for...
Mass market segment helps Sands China to 1.4% revenue growth in 2Q19
Sands China Ltd lost ground in VIP but a solid performance in mass was enough to see total net revenues increase 1.4% to US$2.14 billion and Adjusted Property EBITDA by 2.0% to US$765 million in 2Q19. The Parisian Macao led...
Current issue
Las Vegas Sands launches SG$8 billion loan quest for Marina Bay Sands expansion
Las Vegas Sands (LVS) has begun its search for financing of up to SG$8 billion (US$5.9 billion) for expansion of its Singapore integrated resort, Marina Bay Sands (MBS). Reuters is reporting that MBS has mandated four banks on the financing, which...
Marina Bay Sands drops five-year, SG$13 million lawsuit against Australian gambler
Marina Bay Sands (MBS) has dropped a lawsuit worth more than SG$13 million against Australian high roller Wang Zhi Cai, ending a case that stretches back to 2013. According to The Straits Times, MBS lawyers filed a notice of discontinuance...
Genting Singapore appoints Nanami Kasasaki as Chief Corporate Officer
Genting Singapore has named Ms Nanami Kasasaki as its new Chief Corporate Officer, effective from 1 June 2019. The role will see Kasasaki, who joined the Genting Group in 2008, oversee the group’s corporate functions including corporate finance, corporate planning,...
