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Asia
Ratings firms mixed on LVS asset sale
Las Vegas Sands’ sale of its Nevada properties for $6.25 billion has elicited differing reactions from global credit ratings agencies. Fitch Ratings has reaffirmed the casino operator’s ratings and negative outlook, but has decided that the transaction is a “slight credit negative” for the...
Chinese guests at home, Macau lose 'Asian gambling capital'
Two months after China loosened travel restrictions to Macau, casinos in the "Asian gambling capital" remain cold and grappling with plunging revenues. According to Bloomberg, after five months of exhaustion because of near-net sales, casinos in Macau expect Chinese visitors to massively...
LVS to sell properties for US$6.25 billion, reiterates Asia focus
It’s the end of an era for Las Vegas Sands. The group agreed to sell its iconic properties in Las Vegas for US$6.25 billion and said the main focus of the group is now in Asia. Under the terms of the sale, fund management group Apollo Global Management will buy the operating assets and...
Kerala bans online rummy
The Indian state government of Kerala has joined Telangana, Andhra Pradesh, and Tamil Nadu in specifically banning online rummy or other games played for stakes. The moves against online gambling appear to be particularly strong in southern India, where some suicides and other social ills are being...
Macau, Cambodia to lead gaming recovery: Colliers
Macau GGR recovery will be driven by premium mass, whilst Cambodia’s gaming recovery will be driven by the VIP segment, according to analysts at Colliers International. Govinda Singh, executive director & head of hotels & leisure for Colliers International wrote in a report that most of...
Incheon gaming zone development faces delays
The planned gaming and entertainment zone in Incheon, South Korea, is facing delays on almost all fronts, mainly, but not entirely, due to the coronavirus pandemic. The original prospect was that the area around Incheon International Airport would become one of the premier playgrounds in East Asia,...
Kangwon Land’s license extended to 2045
The South Korean government is moving forward with a plan to extend state-backed casino resort Kangwon Land’s operating license for a further twenty years to 2045. The National Assembly’s Industry, Trade and Energy Small and Medium Venture Business Committee held a plenary meeting on the 23rd...
Dream11 valuation to double to US$4 billion
Dream Sports, owner of online fantasy sports brand Dream11 is in talk with investors for a fresh round of funding that will bring the valuation of the company to around $4 billion. The capital injection, which is expected to be in the range of US$300 million, is said to be coming from Abu Dhabi’s...
Macau Legend still in the hunt for own gaming license
Melinda Chan, Macau Legend executive director and president of the Macau Fisherman’s Wharf International Investment Limited, told the local media that her company is still focused on obtaining a gaming license of its own in a future public gaming tender. Currently, Macau Legend operates three...
Thai casino talk not seen as gaining traction
News last month that Thailand may consider legalizing gambling has been met with scepticism by those who know the market well, with most saying casinos are not likely to open in at least the next decade. Prime Minister General Prayut Chan-o-cha raised the prospect of liberalizing what could...most popular
Projects
Feature
MoF reports on casino businesses’ financial losses
The first casino in Hoi An is about to open after 4 years of construction On June 28, Hoiana Phase 1 is ready to open its doors to customers to experience the first infrastructure. After 4 years of construction, the Hoiana complex project is expected to open to welcome the first guests at the...