Tag: China

MGM experiences tough Q1 in Vegas, implements layoffs as part of MGM 2020 plan

MGM Resorts Las Vegas
MGM Resorts saw a 13 percent fall in gaming revenues on the Strip during Q1 2019 which it attributed to a decline in its high-end baccarat business, while..

Nepal’s Tiger Palace Resort seeing significant visitation from India and China

Nepal, Tiger Palace Resort, India, China
Brett Model, general manager of Tiger Palace Resort in Nepal reports that the property - operated by Australian- listed Silver Heritage - received visits from more than 100,000 Indian nationals last year, while the venue expects a further boost to footfall once the international terminal at Bhairahawa Airport opens in H2 2019. Speaking to Casino Review, he confirms that...

Melco remains optimistic despite tough Q3

Melco Resorts Entertainment, usa, china, financials
Melco Resorts and Entertainment saw a decline in both net revenue and income during the third quarter, which the company attributed to a change in accounting methods, however it acknowledged that the trade war between the US and China is impacting the VIP and premium mass segments. Melco Resorts and Entertainment reported a revenue and profit decline in its Q3...

Resorts World Vegas: On track for 2020, defying international climate

Resorts World Vegas
The much-delayed Resorts World Las Vegas looks set to open-doors within two-years, despite an ongoing US- China trade war which may well target its primary market. Resorts World Las Vegas is still on track for a 2020 opening, claim Malaysian Genting developers the Genting Group - despite concerns that deteriorating relations between the United States and China could cause even...

Still too early to call if trade war will impact Las Vegas resorts

Las Vegas
While commentators suggest that Las Vegas baccarat revenues may decline if China decides to introduce tourism restrictions to the US, it’s unlikely to be a game changer for the City of Lights’ casino operators. Given that China was previously in line to become the third largest overseas visitor market for the US by 2020, will Las Vegas casino operators see...

Could Vegas and Macau feel the impact of US-China trade war?

Donald Trump
With a range of options at China’s disposal to respond to president Trump’s new trade tariffs, Edward Lowton considers what the consequences could be for Las Vegas and US operators in Macau. When it comes to diplomacy, US president Donald Trump seems to have based his negotiating strategy on the 1955 James Dean film, Rebel Without a Cause. Whether having an...

Philippines benefits from Chinese tourism growth, but…

Manilla, Philippines
Chinese tourism to the Philippines continues to grow but analysts suggest that, for the moment, the country should maintain a moratorium on issuing any further casino licences to avoid oversaturation. The Philippines is becoming an increasingly popular destination for Chinese gamblers, as tourism has been further boosted by a streamlined visa process. However analysts suggest that the country’s casino resort industry...

Clouds on horizon for US casinos amid brewing trade war

Las Vegas clouds US casino trade war
With China on track to become the third largest overseas visitor market for the US by 2020, the gaming industry could feel the repercussions of president Donald Trump’s push to enact tariffs on a range of Chinese goods...

Hainan moves closer to introducing “entertainment gaming”

ICR 189 BUSINESS HAINAN
Resort operators on Hainan have been in informal discussions with government officials regarding introducing “entertainment gaming”, a cashless form of casino gambling. Media reports suggest that at least five Chinese-owned resorts on the southern island of Hainan are making preparations for the introduction of “entertainment gaming”, essentially a cashless form of casino gambling where players buy in with real money...

Macau sees gaming tax revenue increase by 18 percent in first quarter

Macau money
Macau’s government has seen its take from direct taxes on gambling increase by 17.7 percent year-on-year in the first quarter of 2018, say the city’s Financial Services Bureau. The city collected approximately MOP26.30 billion (US$3.25 billion) in fiscal revenues compareed with MOP22.34 billion collected in the same period of 2017. Direct taxes from gaming brought in 84.5 percent of the Macau...

Stanley Ho’s retirement raises questions for analysts

Stanley Ho
Stanley Ho Hung Sun will step down from the company he founded, Sociedade de Jogos de Macau Holdings (SJM), the autonomous territory’s original casino concessionaire. His retirement will take effect on 12 June at the end of SJM’s annual general meeting...

Tourist arrivals to Macau up 8% over April

ICR-Macau
Information released by the Statistics and Census Service(DSEC) of Macau have shown the number of visitors travelling to the city in April increased 8 percent year-on-year, affected mainly by an increase in Chinese tourists travelling from the mainland. Travellers from mainland China rose 16.5% year-on-year to 21m in April. According to the data, most travellers came form the Guangdong and...

Korea’s casinos rebound on the back of rise in visitors from Japan

LDP
Recent figures from the Korea Casino Association indicate that the country’s 16 foreigner-only casinos are returning back to growth in the wake of the political tensions between China and South Korea in 2017. However, this rise was primarily driven by an uptick in visitors from elsewhere in Asia. While Chinese visitation continued to fall due with declines of 3.2 percent in...

Macau casino revenue hits 28 per cent growth

ICR-Macau
Macau's gambling revenue has jumped to 28 per cent beating analysts predictions and continuing a long run of sustained support by avid Chinese gamblers. Gambling revenue in the Chinese territory of Macau has increased 27.6 per cent in April, helped by the demand from Chinese betters keen to play in the country’s only legal casino hub. April marks the 21st month...

Cambodia chasing the dragon: Government looks to boost Chinese investment and draw tourism into the fold

Cambodia
Cambodia’s casino industry looks likely to reap the benefits of increasing ties with China, as the government gets set to roll out legislative reforms aiming to attract further foreign investment in the gambling sector. In more ways than one, Chinese money keeps rolling into Cambodia’s gaming mar- ket, as the government hopes that new legislation will only add fuel to...

Hainan poised to jumpstart casino industry on Xi’s approval

Hainan
China’s Southernmost province of Hainan could be the next recipient of gambling approval from Beijing, if continued policy developments come to fruition. Ahead of a visit by president Xi Jinping to speak at the island’s Boao Forum, Hainan’s chief investors have warned China is losing out on gaming revenue. “We need to take the issue seriously,” said Zeng Xianyun, chairman of...

China considers legalising gambling on Hainan Island

hainan
There has been speculation that China is mulling over allowing online gaming, a lottery or sports betting in Hainan following media reports.   Media reports suggest that government agencies are considering allowing online gaming, a lottery or sports betting in Hainan. While the proposal is reportedly still in an early stage, it has been suggested that it could open the door for...

Local chiefs in Ghana waging war against Chinese machines

Paramount-Chief-of-the-Talensi-Traditional-AreaTongo-Rana-Kubilsong-Nalebegtan. ghana chief
Following on from an announcement by the Gaming Commission of Ghana that analogue gaming machines are to be targeted and removed from the market in the coming year, a local chief has taken matters into his own hands and banned Chinese gaming machines from his area of influence.   The Paramount Chief of the Talensi Traditional Area, Tongo-Rana Kubilsong Nalebegtan has...

Casino hosts Namibia-China business showcase

namibia-china
The Namibian minister of land reform, Utoni Nujoma, has urged the nation’s entrepreneurs to make the most of the opportunities presented by an increase in cooperation between China and Africa.   Speaking at a Chinese new year celebration held at the Windhoek Country Club Resort and Casino the minister addressed a delegation of government officials, business leaders, and international investors. “I would...

Crown Resorts investors lodge class action lawsuit over 2016 China arrests

Casino Review James Packer crown
Crown resorts is facing a class action lawsuit from aggrieved shareholders over a sharp drop in its share price following the arrests of 18 employees in China for alleged “gambling crimes”.   Maurice Blackburn Lawyers (MBL) said it had filed the class suit after receiving hundreds of registrations from individual and institutional shareholders. MBL claimed that investors were unaware of the risks...

Chinese government official heads up influential summit agenda at MGS Entertainment Show 2017

MGS Summit and Panel schedule annoucement
The Macau Gaming Equipment Manufacturers Association (MGEMA), the local association that has organised the show since its inception five years ago, has announced that Mr. Paulo Martins Chan, Director of Gaming Inspection and Coordination Bureau, will be kicking off this year’s summit as the keynote speaker on 14 November, the first day of the MGS Summit.   The speaker lineup for...

South Korea’s casino industry hit by strained relations with China

south korea thaad
  In the face of deteriorating relations with China, what will the impact be on South Korea’s casino industry? Casino Review casts a furtive glance to the future.   Following the sad news of K-pop girl band Sistar’s disbandment this June, K-pop idol Soyou has released a cover version of Choi Sung Won’s 1988 hit, The Blue Night of Jeju Island. She’s not...

Macau casino stocks fall as Golden Week fails to bring in enough Chinese high rollers  

Casino Review AGEM stocks golden
Golden Week, China’s twice-a-year seven-day holiday, sees one of the world’s largest human migrations, as hundreds of millions of Chinese take a vacation all at once. While many cross the country to see family, a sizeable minority prefer to get away and try their luck in Macau’s casinos.   However, as Macau’s tourism board reported visitor numbers fell by two percent...

UltraPlay signs distribution deal with China’s SunLoto

china sunloto ultraplay
Online betting solutions provider UltraPlay has agreed on a partnership deal to provide its eSports match predicting system - ODDS.gg - to SunLoto, a licensed operator of the Chinese Welfare and Sports Lottery.   SunLoto, one of the largest lottery service providers in China, will become a reseller of UltraPlay’s ODDS.gg for the Asian market. The company has successfully positioned itself as a leading...

Smart City, Smart Economy: MGS Summit confirms agenda

ICR - MGS Summit Smart City Smart
This year’s MGS Summit, titled Smart City, Smart Economy, is set to examine how new innovations in gaming can provide impetus for Belt and Road journey.   The MGS Entertainment Show, which is backed jointly by the Macau SAR Government and the largest 150 gaming and entertainment companies in Asia, will challenge conventional thinking in the agenda for its annual summit...

Spintec promises longer gaming sessions with innovative electronic table games

Spintec Macau
Slovenia-based Spintec offers both compact and amphitheatre electronic table games solutions with something to appeal to every operator, built around the company’s promise of longer gaming sessions.   Present in all six casino groups in Macau, where the company has held the majority share among all electronic roulette installations there for the past three years, Spintec continues to go from strength...

Pansy Ho takes over at Shun Tak Holdings after Stanley Ho steps down

ICR - Pansy Ho Shun Tak
After serving the Shun Tak Holdings board for more than four decades, Macau’s gambling king Stanley Ho is handing over the reins of the Hong Kong conglomerate he founded to his daughter, Pansy Ho.   In a filing with the Hong Kong Stock Exchange, the company said the 95- year-old magnate has stepped down from his position as chairman of Shun...

Betsoft focuses on Asia with new partner HBET63

Hbet63 Betsoft Spillehallen.
The leading online gaming software provider, Betsoft Gaming, has strengthed its position in Asia by forming a partnership with new Asian-facing operator, Hbet63. Betsoft Gaming, architects of the revolutionary Shift™ platform, has closed the deal with HBet63 whose primary focus is on the market covering China, Singapore and Malaysia. Under the terms of the partnership, HBet63 will be taking on Betsoft’s...

Macau’s luxury hotel ‘The 13’ suffers costly delays

ICR - The 13 delays
13 Holding’s plans for an ambitious high-rise hotel and casino in Macau are facing a series of financing and construction difficulties, making its aim to open this year less likely.   Seven years in the making, the lavish $1.3bn resort – The 13 – includes just 200 “all-villa” rooms; the most expensive of which to be charged at $130,000 per night. Stephen...

Hitting the road: MGS aims to drive China’s ambitious Belt and Road Project to the industry

ICR - MGS Belt Road
The MGS Entertainment Show is gearing up for its fifth showing with new aspirations. With China’s Belt and Road Project at the centre of its offering, MGS is aiming to open up this ambitious commercial programme to the world’s gaming community.   Visitor registration for the MGS Entertainment Show, which will be taking place at the Venetian Macao on November 14-16...

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