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Macau
Tuesday, September 26, 2017

Stories of success

Forbes names Wynn and Adelson among ‘100 Greatest Living Business Minds’
Genting jointly-run casino reportedly progressing with phase three expansion in the Philippines

Fly me to Saipan

Imperial Pacific expects 300 per cent increase of private jets flying to Saipan, signing today a MoU with U.S. border authorities to ease clearance procedures for its guests
The city’s gaming watchdog said that no applications for gaming tables had been received recently, including for MGM’s new property located on the Cotai Strip and set to open in the fourth quarter of this year. “We also haven’t received...
Opening of its fifth hotel property in Cotai and increased influx of visitors from mainland China via Lotus Bridge to drive growth for Melco Resorts: brokerage
Japanese gaming group Universal Entertainment Corp. denied the claims made by a Reuters report that former Chairman and Director Kazuo Okada had been reinstalled as a representative or director of the group’s parent company Okada Holdings Ltd
More startups and operating projects are expected to set foot in the Hengqin New Area following the announcement of plans for building a RMB1 billion (US$151.91 million/MOP1.22 billion) edifice to headquarter the Thousand Talents Plan, the Zhuhai government informed...
MGM’s Cotai property is under development and still set to open this year has ‘continued at a good pace’ during the first half of the year, according to a filing by MGM China Holdings with the Hong Kong Stock...
Hong Kong-listed Elife Holdings Limited has opened its headquarters in the Macao-Hengqin Youth Entrepreneurship Valley - located at the Hengqin New Area - on Sunday, according to information released on the official portal of the Zhuhai government yesterday. The investment...
Estimates for September’s gross gaming revenue, despite the city still recovering from the impacts of the typhoon and the hype around the Legislative Assembly elections, should still see a 10 per cent to 12 per cent year-on-year uptick, according...
However the Hong Kong-listed company announced current impairment on trade receivables is ‘in line with global industry standards’

Winds of change

Brokerage firm Sanford C. Bernstein indicated in a report that a rise in anti-corruption activities by the Chinese central government in the first eight months of this year could mean lower future VIP results, but remained positive about the outlook for the local mass gaming market
The last of a series of strategic disposals from the Hong Kong-listed casino and theme park developer is to focus its finances and efforts in South Korea

PAGCOR pays

Local and foreign interest in acquiring casino assets of the Philippines Amusement and Gaming Corporation (PAGCOR) to be put on sale next year will depend on ‘valuation and terms’ proposed, since the state-run company ‘does not own the properties...
Gaming machine-manufacturer Aristocrat told Business Daily it ‘emphatically rejects’ the allegations which brought the company to court in Australia that its machines induce ‘problem gambling’
In another move to raise funds for public coffers, the Philippine government is to cash in on electronic gaming business, after announcing it is privatizing part of PAGCOR next year
The board of local junket operator Neptune Group Limited has approved a motion proposed on August 29 to change the English name of the company to Rich Goldman Holdings Limited, according to a filing of the company with the...
Gaming operator Melco Resorts & Entertainment could be looking to increase its stake in the Philippines as PAGCOR works to sell off its 17 exclusively-owned casinos. If price and opportunity are right, for a whole hotel to be redeveloped, it could be on the table. Finalising the buyout of Hard Rock’s shares in Cyprus casino.
A woman is suing Crown Resorts and poker machine-maker Aristocrat on the basis of providing ‘deceptively designed’ machines, Australian media outlets reported yesterday. The plaintiff, Shonica Guy, is arguing in federal court that a type of machine manufactured by...

Gaining majority

The Cyprus government has given permission for Melco International Development Limited to buy the interest held by Hard Rock International Inc. in the joint integrated resort project in Cyprus, giving the majority stake to Lawrence Ho’s company
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