Saturday, December 5, 2020

Tag: Hong Kong

NagaCorp moving forwards with $3.5bn Naga 3 expansion in Phnom Penh

NagaCorp expansion in Phnom Penh
While NagaCorp is considering a Japan IR licence bid and is on track to open the first phase of its Russian casino resort Naga Vladivostok in Q2 2020..

Hong Kong’s Alphaslot announces multimillion USD investment led by China’s Sora Ventures

Hong Kong, Alphaslot, Multimillion, USD, Investment
Alphaslot, the blockchain gaming ecosystem creator, today announced that it raised a multimillion USD investment round led by Sora Ventures from China with participation from Hong Kong’s Credito Capital and Shinobi Capital, Singapore’s Spartan…

Genting sets course for loss reduction with cruise investment

Genting Hong Kong Ltd has announced it expects to reduce H118 net loss to between $150m and $170m, down 17 percent from a $205m figure for the same period last year. The entertainment and casino firm, a subsidiary of Malaysian group Genting Berhad, posted net loss of $502.3 in 2016, but has since reduced the deficit through investment in cruise...

Imperial Pacific applies for second deadline extension

Imperial Hong Kon
Hong Kong-listed Imperial Pacific International (IPI) has confirmed that it is still behind schedule with construction work on its Saipan integrated resort and has formerly requested a second deadline extension. In letter to Commonwealth Casino Commissioner executive director Edward Deleon Guerrero on 23 July, IPI informed the commission that it is unable to meet the 31 August deadline to finish...

Duterte orders review of Landing International’s land lease with state-owned corporation

DUTERTE
The future of Hong-Kong listed Landing International’s $1.5bn NayonLanding project could be in doubt in the face of a government inquiry into its land lease contract for the project. President Rodrigo Duterte has ordered the Department of Justice to review the land lease contract between the state-owned Nayong Pilipino Foundation (NPF) and Landing International Development. “The president has instructed a review...

Hong Kong investors eyeing Tinian Dynasty resort face $75m in fines

tinian island hong kong investors
Hong Kong investors have visited the Northern Mariana Islands to look at the viability of reopening the commonwealth’s first casino resort, situated on the island of Tinian.   Tinian Entertainment Corp owner Tim Chen chartered a flight from Hong Kong to Tinian on 12 January to participate in the ribbon-cutting ceremony for Tinian International Airport, which is now complete after 20...

International support continues to grow with 47 nations represented at the first Gaming Africa

47 gaming africa
Gaming professionals from Brazil to Botswana, Germany to Ghana and Lithuania to Lesotho will be amongst the delegates expected at the inaugural Gaming Africa, Clarion Gaming’s two day conference and learning symposium being held across 24th and 25th October in Johannesburg. Representatives from a total of 47 nations have registered to be part of the free to attend event, including...

Paradise Entertainment aims to begin operating Lan Kwai Fong casino by the end of 2017

Jay Chun Macau MGS Entertainment Show lan kwai fong
Hong Kong-listed Paradise Entertainment aim to begin operating the casino hotel Lan Kwai Fong in downtown Macau by the end of this year, provided that a process to acquire the property is straightforward, the company’s CEO stated.   Speaking to the press, the firm’s chairman and managing director Jay Chun stated that his company wished to orientate gaming at Lan Kwai...

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...

Galaxy Executive proposes open Hengqin travel

ICR - Hengqin Macau VIP
Speaking at G2E Asia, Francis Lui Yiu Tung, Deputy Chairman of Galaxy Entertainment Group, expressed his support for the idea of aligning the border policies for Macau and Hengqin, while also stressing the need for Macau’s industry to remain competitive in the face of challenges to its market dominance from lower-tax jurisdictions.   The idea of “borderless” travel between Hengqin and...

Macau’s 18 percent growth still can’t please everyone

Casino Review - Macau 18 percent growth
Macau’s GGY rose by a full 18 percent in February alone, driven by both mass market and VIP players. Market sentiment is significantly more sanguine, yet the skeptics are as ever ready to remind of us of more cautionary considerations.   In its first real mass market test since Macau returned to growth, the Chinese New Year helped push gaming revenue...

Kingston Financial Group feels the pinch in Macau

Casa Real Kingston Macau
Kingston Financial Group, a Hong Kong-listed investment company, reported that gaming revenue from its two Macau casinos fell by 30 per cent year-on-year in the 12 months to March 31, 2016. Gaming revenue for the company, which owns the Casa Real and Grandview casinos in Macau and offers gaming via a service agreement with SJM Holdings, declined to approximately HK$462.5m...

Naga 2016 financials likely to be ‘robust’

NagaWorld Cambodia
End-of-year financials from Hong Kong-based NagaCorp – owner and operator of Phnom Penh’s NagaWorld casino and hotel complex – are likely to show sustained, substantial growth, according to Japanese investment bank and brokerage Daiwa Securities. Daiwa representatives met with Naga management at the bank’s Consumer and Gaming Conference, which took place in Hong Kong last month. A follow-up note posted...

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