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UNESCO concerned about NagaCorp’s Angkor Wat plans
NagaCorp’s US$350 million Angkor Lake of Wonder project has drawn eyes narrowed in suspicion from the United Nations’ cultural agency UNESCO. UNESCO issued a statement yesterday noting, “The proximity of the project to the protected buffer zones of the [Angkor Wat] site as well as the scale,...
Nagasaki seen as best-managed IR bid contender
The Nagasaki Prefectural Government continues to distinguish itself as having the best managed bid in Japan’s IR development race, giving them a strong chance to become a licensed municipality. Surely at the top of the list of their accomplishments is political. Not only does the local political...
500 .com surges on bitcoin transformation
China sports lottery company 500 .com has continued its transformation into the bitcoin space with the all-stock acquisition of bitcoin mining company BTC.com and investors appear to approve. Stock in the New York Stock Exchange-listed company jumped as much as 75 percent on Tuesday after...
Kangwon Land opens; GKL remains closed
The two big state-run gambling firms, Kangwon Land and Grand Korea Leisure, have just taken divergent paths on the Covid-19 crisis. Kangwon Land reopened its doors at the beginning of this week with a capacity limit on the casino floor of 1,200 people. It’s latest closure had lasted two months...
Universal eyes U.S. market debut for Philippine IR assets
Universal Entertainment is planning to test U.S. investor appetite for the Philippines by listing the holding company for its integrated resort business in Manila. The Japan-listed company said it has taken on multiple advisors in both the U.S. and Japan to help prepare for a listing on either the...
MGM says US regional operations leading firm’s recovery
MGM Resorts announced its fourth quarter and full year financial results this morning, commenting that it was the firm’s operations in various regional markets in the United States that were recovering most quickly from the pandemic era. Las Vegas continues to be one of the most difficult spots...
Japan’s quiet explosion of online gambling
Largely ignored by the media and the policymakers, Japan has clearly entered an era of explosive growth for online and mobile gambling. Like an iceberg that is only partially visible above the waterline, the only people who seem to be paying close attention are the businesses directly participating...
GKL reports nearly US$80 million loss for full year 2020
Grand Korea Leisure has turned in its unaudited financial reports for the full year 2020, headlined by the fact that it had a consolidated operating loss of KRW88.8 billion (US$79.9 million) in the year of the coronavirus, a sharp reversal from the state-run company’s fortunes before the...
Jeju may call for casinos to upgrade community contributions
The eight casinos on Jeju island, South Korea, may soon be required to enhance their contributions to the local community as concerns have risen about their possible negative impacts on the region. On Monday, Representative Kim Hwang-Guk of the Jeju-do Council’s Culture, Tourism and Sports...
Genting Singapore 2021 outlook flat on continuing travel curbs
Genting Singapore expects a lacklustre year in 2021 as visitation to Singapore is likely to remain restricted and does not see a significant improvement from the results achieved in H2, 2020, analysts said. The operator of Resorts World Sentosa reported a 90 percent drop in net profit for 2020 to...most popular
Genting Singapore expects a lacklustre year in 2021 as visitation to Singapore is likely to remain restricted and does not see a significant improvement from the results achieved in H2, 2020, analysts said. The operator of Resorts World Sentosa reported a 90 percent drop in net profit for 2020 to...
Projects
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Sun Group officially selected as Van Don $2B casino developer
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...
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Inside Ho Tram casino. Photo courtesy of the casino The developer of the US$4.23-billion Ho Tram casino and resort complex in southern Vietnam has sought to postpone its completion to 2027, the 11th time it is delaying it. Ho Tram Project Company Ltd received a permit in 2008 to build a casino, a...