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Sands CEO says infrastructure development to benefit Macau
Las Vegas Sands Chairman and CEO Rob Goldstein said the company “firmly believes” the Macau market will recover and will benefit in the future from infrastructure developments throughout the Greater Bay Area. Writing in the group’s 2020 annual report, Goldstein said the opening of the Hong...
Cambodia puts a stop to NagaCorp’s Angkor Wat project
NagaCorp’s ambitious plan to build a non-gaming resort not far from the world heritage site of Angkor Wat appears to have met a hard end, according to a report in the Phnom Penh Post. The US$350 million development project raised eyebrows from the time it was announced last November. Last month,...
Macau casino market continues its slow recuperation
The almost 40 casinos in Macau are reportedly continuing to slowly recover from the impacts of the coronavirus pandemic after last week posting a rise of 18% month-on-month in daily aggregated gross gaming revenues to about $38.37 million. According to a Monday report from GGRAsia, this is finding...
Pandemic sparks live casino innovation
The closure of physical casinos and suspension of sports tournaments in 2020 resulted in a banner year for live casino products. Experts believe that even as we return to normality, the live casino boom will be far from over. “As a direct result of Covid, we are seeing and in my opinion will...
Japan’s IR process lurches forward with Nagasaki selections, Osaka invite
Japan’s IR process appears to move forward in fits and starts, but there were two noteworthy events to emerge at the end of the week that advance the slow process towards the country’s first casinos. First, Nagasaki announced that it had narrowed the field in its search for a partner to three...
Yokohama IR pro and anti marshal their forces
This was a week in which those supporting and those opposing IR development in Yokohama marshaled their forces, organizing toward the decisive battle in August when the mayoral elections are scheduled to take place. The pro-IR administration of Mayor Fumiko Hayashi is using taxpayer money to...
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....most popular
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Casino Plus reaffirms $16M surety bond as Filipinos tighten spending
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...