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Investors swoon over Nazara’s IPO
Shares in Indian mobile gaming firm Nazara Technologies were quickly snapped up by investors during its initial public offering (IPO) on Wednesday, which was reportedly oversubscribed within hours of opening. The company, which has invested more than $42 million in mobile gaming in just the last...
Macau operators to emerge more profitable than before: MS
The Macau casino operators are eventually seen as emerging more profitable from the Covid crisis as companies benefit from increased hotel capacity and lower costs. Morgan Stanley tells investors that the operators are likely to report EBITDA up 15 percent over 2019 by 2022. The firm noted that...
Nepal attracts hotel investors, new casino
Nepal has not lost its allure for international hotel groups, who recognize its potential as a playground for India, with at least two new arrivals announced in recent weeks. India’s Lemon Tree Hotels has reached an agreement to operate a hotel in Biratnagar, the country’s industrial capital....
More Covid setbacks for Asian jurisdictions
It’s not been a good week for anyone hoping for a faster opening of travel markets around Asia, with the Philippines, Cambodia and Hong Kong all reporting setbacks. The Philippine government has announced that it is banning the entry of foreigners from March 20 to April 19 after a surge in new...
Macau weekly GGR creeps 6% higher
Macau gross gambling revenue is creeping higher, but hopes for a near-term boost from a reopening with Hong Kong may have faded after a new cluster of Covid-19 the latter city. Macau’s average daily rate (ADR) of gambling revenue was about $34 million in the most recent week of March, up 6...
Macau officials lobby Beijing for greater travel opening
Senior Macau officials have been busy lobbying the Chinese government for a further easing of travel restrictions to enable more visitation to Macau during two key political gatherings in Beijing. The officials were in Beijing for the annual session of China’s rubber-stamp parliament the National...
Sharp fall in number of Macau gaming industry workers
In the final five months of 2020 there was a steep 86.6 percent fall in the number of new hires within Macau’s gaming industry. That meant that only 174 new employees were hired during the entire stretch. This information released by the Statistics and Census Bureau (DSEC) underlined the impact...
Online gambling outflow from Philippines seen as stabilizing
The outflow of online gambling operators from the Philippines is expected to slow, at least for the time being, following amendments to tax regulations and due to uncertainties in neighbouring jurisdictions. Taxation of Philippine Offshore Gaming Operators (POGOs) has become a politically...
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...most popular
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Myanmar demolishes more illegal gambling buildings in Shwe Kokko and KK Park
The Government Office has just announced the conclusion of Deputy Prime Minister Truong Hoa Binh about the meeting with leaders of Quang Ninh province on August 31. Regarding the investment policy of the high-end resort and entertainment complex project with casino in Van Don economic zone, the...