Tag: Financial

Resorts World Manila fully opens “entire new floor” of Grand Wing

Resorts World Manila new floor opening
Travellers International Hotel Group has fully reopened the second floor of Resorts World Manila, two years after the arson attack that killed..

Pagcor sees Q119 income jump almost ten percent

Pagcor financial
Pagcor has reported its net income for the first three months of 2019 rose 9.5 percent from the same period last year to hit $30m, after a rise in gaming..

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..

Landing flagship boosts revenue as profits fall

Landing International
Landing International Development Ltd has reported an $89.4m loss for FY18, despite revenue for the period jumping 149 percent, from $107.1m in 2017..

Sacré bleu: French casino industry slowed in 2018

French Casinos financials
French casinos saw a small rise in gaming revenues throughout 2018, however more than half the country’s gaming floors saw declines last year.

Cambodian legal woes plague Donaco H218 results

Cambodia,Pin,Map,Donaco International,Star Vegas Resort
Donaco International has recorded a $26m loss for the second half of 2018, due to a major impairment charge and ongoing legal costs surrounding its Star Vegas resort, Cambodia.

Tribal gaming market hits record breaking $32.4bn GGR in FY 2017

USA beach
A report from the National Indian Gaming Commission has revealed that tribal gaming had a record breaking year in 2017, with the market- leading sector counting $32.4bn in gross gaming revenue. The results are in and tribal gaming is still king in the USA. The market sector counted record revenue figures in financial year 2017 and the continuing pace of...

Scientific Games adds $900 million to Private Offering

Scientific Games offering
Scientific Games has confirmed it is upsizing and pricing of a Private Offering of an additional $900 million of 5.000% Senior Secured Notes, €325 million of 3.375% Senior Secured Notes and €250 million of 5.500% Senior Unsecured Notes   Scientific Games International, Inc. has priced an additional $900 million principal amount of its 5.000% senior secured notes due 2025 (the "New...

LeoVegas approved for listing on Nasdaq Stockholm

LeoVegas AB's has been formally approved for listing on the Nasdaq Stockholm regulated market by Nasdaq Stockholm's listing committee.   The approval is conditional upon fulfilment of customary conditions. The last day of trading on First North Premier is expected to be 2 February 2018, and the first day for trading on Nasdaq Stockholm is planned to be commenced on 5...

Scientific Games confirms proposed private offering of secured notes

ICR - Scientific report growth Boyd offering private
The company has announced a proposed private offering of an additional $500 million of 5.000% Senior Secured Notes, €325 million of Senior Secured Notes and €250 million of Senior Unsecured Notes   Scientific Games International, Inc. intends, subject to market and other conditions, to offer an additional $500.0 million of its 5.000% senior secured notes due 2025 €325.0 million of senior...

Macau casinos surging forward on sixteenth month revenue growth

ICR - Macau Comment MGEMA
Macau casinos are heading towards their first annual growth in three years, after posting 16 consecutive months of revenue gains in November 2017.   Data from Macau’s Gaming Inspection and Coordination Bureau showed revenues for November reached $2.87bn, the second highest amount for 2017, and a 22.6 percent increase from the corresponding figure in 2016. Morgan Stanley had forecasted gross gaming revenue...

Positive signs for South Africa casinos

Casino Review South Africa Rossouw
An official report issued by the South African national gambling board has marked considerable casino growth year-on-year for 2016, highlighting the great gaming potential in the country.   Already standing as a strong market in the face of strict regulation, land based casinos have steadily posted positive results and been a catalyst for continued commercial investment. The latest figures from the gambling...

Delta Corp’s $11.44m profit driven by landbased and online expansion

ICR - Delta
India’s only publicly traded casino operator Delta Corp saw its profits grow by 94.7 percent in the 2016-2017 financial year, driven by an expansion of its operations and efficient marketing.   Delta Corp, India’s only publicly traded casino operator, saw its profits grow by 94.7 percent in the 2016-2017 financial year. In a filing to the Bombay Stock Exchange, the company...

Plainridge sees revenue rise thanks to expanded events offering

ICR - Plainridge
Massachusetts’ sole casino is holding its own thanks to a marketing strategy targeting a younger demographic, but the slots parlour is set to face increasing competition with two large-scale venues due to open their doors in the state.   As Plainridge Park Casino - Massachusetts’ first, and so far only casino - approaches its two-year anniversary, a new marketing strategy aimed...

Gauselmann toasts success but new German legislation a concern

ICR - Gauselmann German
The Gauselmann Group recorded strong sales and profits during 2016 but the group’s founder and chairman has expressed concern over new German legislation.   Westphalia-headquartered Gauselmann Group closed the 2016 financial year on an extremely positive note. Cumulative sales of all entities in the group were up by 14.2 percent to E2.53bn, while adjusted for intragroup sales, sales revenues climbed by...

Melco becomes leading stakeholder in Cyprus casino project

ICR - Melco Cyprus hard Rock
Casino operator Hard Rock International has sold off its stake in its Cyprus integrated resort joint venture - with Melco International Development becoming the majority stakeholder in the project.   On 26 June, the Republic of Cyprus government officially signed its contract with a consortium consisting of Hard Rock, Melco and Cyprus Phasouri (Zakaki) Limited to build Europe’s first integrated resort...

Aquis remains optimistic despite losses

ICR - Aquis
Aquis Entertainment has reported that its Canberra casino made a worsening loss of $5.84m in 2016, with the firm waiting on government approval for a significant redevelopment plan which could see the introduction of slot machines.   Casino Canberra reported a loss of AUD7.7m ($5.84m) for 2016, which, in turn, puts Aquis in a negative position with liabilities of AUD31.3m ($23.76m)...

AGEM Index in February reaches record high

Casino Review - AGEM Index February 2017
The AGEM Index reached another record high in February, continuing the momentum from previous months.   The composite index stood at 351.4 points at the close of February 2017, which represents an increase of 21.3 points, or 6.5 percent, when compared to January 2017. The AGEM Index reported a year-over-year increase for the 17th consecutive month, rising 155.4 points, or 78.4...

Boyd Gaming Reports Fourth-Quarter, Full-Year 2016 Results

Casino Review Boyd Gaming
Las Vegas locals same-store adjusted EBITDA and margins reach 9-Year high.   Boyd Gaming Corporation has reported financial results for the fourth quarter and full year ended December 31, 2016. Keith Smith, President and Chief Executive Officer of Boyd Gaming, said: "The fourth quarter was the culmination of an eventful and successful year, as we further positioned our Company for long-term growth. Our...

The Rank Group posts encouraging digital results in half-year report

Casino Review Rank Group Henry Birch
The latest half-year results have been announced by The Rank Group Plc, with strong showings across digital operations.   The British gambling company, The Rank Group Plc, has confirmed its latest half-year results with a focus on digital operations and strategic progress in 2017. Rank’s group revenue saw an overall rise of 2% during the period with digital revenue performing strongly with...

INTRALOT announces aggressive revenue growth during Q3

Casino Review Intralot
The integrated gaming systems provider, INTRALOT, has confirmed positive growth in its Q3 results with substantial revenue secured through new product and service launches.   INTRALOT Group CEO Antonios Kerastaris has made an upbeat statement following the announcement of the 3Q 2016 results. In a press release issued to gaming and financial media, he said: “INTRALOT Q3 was marked by aggressive organic...

PAGCOR’s profits stable for nine month period as it looks to sell casinos

Casino Review Philippines PAGCOR testlabs
PAGCOR, the Philippines’ regulator/operator, has released its financial results for the nine months to the end of September showing only a slight increase in net income from the prior-year period.   Following a tumultuous nine months, state-run regulator/operator Philippine Amusement and Gaming Corp (PAGCOR) reported a net income of PHP3.20bn (E59.8m) in the period from January to September, up by 0.32...

Macau draws full house in third quarter of 2016

Casino Review Macau
Mass market gamblers helped Macau achieve 8.8 percent gaming growth in October, smashing expectations and pushing some to predict double figure gains in November.   An influx of holidaymakers drove gaming revenue growth beyond expectations for the third consecutive month in Macau - the most compelling endorsement to date of the city’s transition to a mass market destination. Figures released by Macau’s...

Cherry Interim report shows profitability across brands for 2016

Casino Review Cherry
The latest Cherry Interim Report for Q3 highlights revenue increases across group with significant profits for Game Lounge and Yggdrasil.   The Cherry Interim Report recorded Q3 revenue growth of 39 percent year-on-year to MSEK 214.0 across the Cherry Group which follows revenue increase of 64 percent to MSK583.0 for the first nine months of 2016. Cherry’s latest report, which covers 1...

Macau draws full house in third quarter of 2016

Casino Review Macau
Macau’s GGR driven up by 8.8 percent in October thanks to mass market gamers.   Mass market gamblers helped Macau achieve 8.8 percent gaming growth in October, smashing expectations and pushing some to predict double figure gains in November. An influx of holidaymakers drove gaming revenue growth beyond expectations for the third consecutive month in Macau - the most compelling endorsement to...

Sun Dreams takes E135m loan for Latin American expansion

Casino Review Sun Dreams
Following its merger, newly created Latin American casino operator Sun Dreams has agreed to the terms and conditions proposed by several local financial institutions for a $150m loan (E135m) which the company stated would support its expansion across the region.   The company will reportedly use the loan, borrowed from local financial institutions BCI, BBVA, Banco Estado and Banco de Chile,...

Galaxy heads to year-end with renewed confidence

Casino Review Galaxy Macau
Robust third-quarter growth for Galaxy Entertainment suggests Macau’s gaming market might be finally bottoming out.   Galaxy Entertainment Group has booked a five per cent increase in revenues for the third quarter of 2016, as the Macau casino operator shifts its focus to mass-market gamblers. In the three months to September 30, group-wide revenues for Galaxy totalled $12.9bn (E11.8bn), with the five...

Olympic exits Belarusian gaming market

Casino Review Olympic Belarus
Eastern European casino operator, Olympic Entertainment Group (OEG), has liquidated its subsidiary in Belarus due to “inefficient operations caused by the macroeconomic situation and poor prospects to increase profitability in the country”   In the first half of 2016, the revenues and income of Olympic Casino Bel IP amounted to E200,000 and operating loss amounted to E150,000.The company’s Belarusian division, which...

Shares in Scientific soar on growth strategy

Casino Review Scientific Games
SG’s restructuring announcement goes down a treat with the electronic herd, with shares jumping 22 percent in Wednesday trading. Global gaming beast, Scientific Games saw its shares rocket over 22% on a heavy trading volume through yesterday as the company mooted a range of growth opportunities in its interactive business including joint ventures, acquisitions and IPO. The Las Vegas-based company, which...

Revenues up for Holland Casino in H1 2016

Casino Review Holland Casino
Holland Casino, the Netherland’s state-owned gaming group, saw its revenues rise by six per cent in the first half of 2016, due primarily to an increase in both visitor numbers and higher average spend per guest.   In the six months to June 30, revenues for the group totalled E203m. Operating income reached E48m, up on the E41m in the prior-year...

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