Inside Asian Gaming

INSIDE ASIAN GAMING | December 2011 44 Briefs Regional Briefs ISO 17025, its internal compliance processes, and its experience in testing gaming equipment for major gaming jurisdictions. The CRA regulates the casinos in Singapore, and designates qualified testing laboratories with the status of SRTL to provide testing services for gaming equipment deployed at casinos within Singapore. Kurt Gissane named as new head of Asia Pacific business operations for Bally Kurt Gissane has been promoted to Managing Director of Asia Pacific for Bally Technologies Inc, based in Macau, to manage the day-to-day business operations and customer relationships. Mr Gissane joined Bally in 2009 as Associate Director, Business Development & Operations for the Asia-Pacific region, overseeing the region’s daily operations and successfully managing relationships with distributors, suppliers, and customers. In early 2011 he was promoted to Director of Sales and Operations. His business and sales ability led to him being invited into Bally’s President’s Club for outstanding sales in his first two years with the company. Before joining Bally, Mr Gissane served with Aristocrat Technologies from 2000 to 2009, advancing through the company to Regional Sales Manager for Asia-Pacific. Mr Gissane earned a business and commerce degree from Monash University in Victoria, Australia. Union Gaming Macau’s view on government policies impacting the gaming industry Macau’s Secretary of Economy and Finance Francis Tammet with the legislative assembly on 24th November, as a follow-up to the 2012 Policy Address made by Chief Executive Fernando Chui on 15th November. Among the policies impacting the gaming industry, Mr Tam confirmed the tax holiday on gaming profits (at a rate of 12%) for the six concessionaries will continue for another five years and that the current gaming tax rate of 35% applied to gross gaming revenue is unlikely to be changed. Union Gaming Macau explained in a research note that the government’s stated policy of allowing only 3% annual growth in the number of gaming tables for a decade following the expiry of the current cap of 5,500 in 2013 would limit cumulative growth to 1,467 tables by the end of 2020. “Assuming an average need for 400 to 500 tables at each of the proposed casino resorts on Cotai, the 3% cap would only provide enough tables for about three resorts, instead of the six or more that are currently contemplated (at least one for each concessionaire). “In our opinion, limiting Cotai to only three new resorts through the end of the decade does not reconcile with the Macau government’s previously stated goal of making Macau one of the world’s top tourist destinations by 2016, which, presumably, would require the development of several resorts with significant Melco Crown issues statement on Nasdaq-HK joint listing Melco Crown Entertainment Limited, a developer, owner and, through its subsidiary, an operator of casino gaming and entertainment resort facilities focused on the Macau market, announced on 30th November the dual primary listing of its shares on the main board of the Stock Exchange of Hong Kong Ltd (SEHK) by way of introduction. The company’s shares were due to commence trading on the SEHK on 7th December, 2011 under the stock code 6883. Shares will be traded in board lots of 300. Credit Suisse (Hong Kong) Limited and Deutsche Bank AG, Hong Kong Branch are the joint sponsors of the dual primary listing. Lawrence Ho, Co-Chairman and Chief Executive Officer of Melco Crown Entertainment, said, “We believe our proposed dual listing on the local bourse will not only put us on a par with our competitors, but will also provide our existing shareholders with enhanced liquidity and enable local and Asian investors to directly access investment opportunities in our company, thus broadening our investor base.” Mr Ho added: “ Taking into account, among other factors, the current market sentiment, we do not currently intend to carry out any equity offering in conjunction with the listing by introduction.” GLI Australia recognised as a testing lab by Casino Regulatory Authority of Singapore GLI Australia has achieved another milestone in the company’s history, earning recognition by the Casino Regulatory Authority of Singapore (CRA) as a “Singapore Recognised Testing Laboratory (SRTL).” The distinction means GLI Australia is authorised by CRA to provide testing services for gaming machines and electronic monitoring systems to ensure they comply with CRA standards before deployment. “We are honoured and grateful to the CRA for granting this recognition to GLI Australia,” said GLI Managing Director of the Asia/Pacific Region Ian Hughes. “This recognition is very exciting, both for GLI Australia and for our supplier clients. Now suppliers who earn certification through GLI Australia can move their products into the rapidly growing Singapore marketplace, giving suppliers yet another reason to choose GLI Australia for their testing needs.” To attain SRTL status, GLI had to prove its accreditation with Lawrence Ho Kurt Gissane