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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...
China anti-gambling drive to have long-term IR impact in Asia
China’s ongoing crackdown on casinos and junkets targeting its nationals may have long-term implications for the industry in Asia and force changes in the business models of many of the region’s integrated resorts. Beijing has signalled that it means business when it comes to cracking down on...
Sands president says Londoner to become instant icon
Sands China opened its $1.9 billion “The Londoner” on Monday, providing a vote of confidence in the Macau market’s recovery. In an opening ceremony, Sands China President Wilfred Wong paid tribute to company Chairman and CEO Sheldon Adelson who died last month and whose vision transformed...
Wynn upgraded to “neutral” at Citi on premium mass strength
Wynn Resorts was upgraded to “Neutral” from “Sell” at Citi due to optimism over the company’s premium mass business in Macau after it reported better-than-expected Q4 results last week. Although VIP still represents a significant portion of the group’s earnings in Macau, Citi analyst...
Komeito loses its pro-casino voice
This week a fresh scandal, unrelated to IR development, stripped the ruling coalition Komeito Party of its only lawmaker who was proactively and vocally in favor of casino legalization. This represents an indirect but still distinct blow to the industry’s future prospects at the national level....
Wynn Resorts operating revenues down 58.5% in Q4
Wynn Resorts has published its fourth quarter 2020 and full year financial results, headlined by a 58.5 percent year-on-year decrease in operating revenues. Operating revenues came to a total of US$686 million for the quarter. Net losses attributable to the company were US$269.5 million. Matt...
HKJC pins hopes on simulcasts to stem illegal gambling
The Hong Kong Jockey Club said the government’s decision to allow extra simulcast days during the summer racing lull will help curb the illegal gambling that has threatened to undercut its revenue in recent years. The government will allow the club to broadcast 14 more days of racing from...
Paradise January sales reverse improving trend, drop 36.2%
Paradise Co. reported its casino sales in January declined 36.2 percent from the prior month, after seeing strong improvement in December. The company, which operates four foreigner-only casinos in South Korea, said total sales in the month were KRW27.28 billion (US$24.5 million), down from KRW42.7...
Covid creates opportunity to lobby for India regulation
States in India may be more receptive to legalizing casinos and potentially considering hybrid models following the Covid-19 pandemic, however centralized regulation is key to developing the industry. That was the view of panellists at a recent SBC India digital conference focused on gambling in...
Macau January GGR performance better than expected
Macau’s gross gambling revenue dropped 63.7 percent in January, better than analysts had been expecting after renewed Covid-19 clusters on Mainland China slowed visitation later in the month. Gross gambling revenue totalled MOP8.02 billion ($1.0 billion), according to figures released by the...most popular
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Philippines considers Telegram ban over illegal gambling and cybercrime concerns
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...