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Casino
January 12, 2022
US Casinos in Macau Will Not Be Treated Differently, Fitch Ratings Claim
Fitch Ratings Inc insists that US-controlled casinos in Macau will not be treated any differently from casinos owned by Chinese entities in light of the recent gaming rights refreshments in the city. The company solidified its claim by adding that US casino subsidiaries are owned by public entities listed in Hong Kong, have invested a […]
Business
January 12, 2022
MegaLuck Casino in Jeju, South Korea May Be Out of Luck
Jeju Island in South Korea was once a hotbed for casinos. This is currently not the case because of COVID-19. Several small entities have folded and another is about to be added to the list. GGRAsia reports that, according to a letter that was sent by the Jeju KAL Hotel to a labor union, the […]
Industry
January 11, 2022
New Singapore Gambling Duties Bill Increases Casino Tax Rates
Singapore’s Parliament has released a new Gambling Duties Bill meant to streamline the country’s gambling regulations. The amendments to the current Casino Control Act were originally discussed in 2019 as part of the Tourism Board’s agreement with operators Las Vegas Sands and Genting Singapore. The talks targeted the expansion of the operators’ integrated resorts (IR), World Sentosa, […]
Industry
January 11, 2022
Wakayama Residents Opposed to IR Solidify Their Stance
Some Wakayama residents would be more than pleased if the city’s IR plans took the same path as those in Yokohama. Canceling the project isn’t as easy, but the opposition is gaining traction. On Friday, a group of Wakayama residents called the “Wakayama Residents’ Group for Questioning The IR Bid” submitted a petition containing 20,039 […]
Business
January 11, 2022
Genting Group Subsidiary Facing Insolvency After Failing to Secure Lifeline
A few years ago, Genting Hong Kong set out on a mission. It envisioned a fleet of casino cruise ships and was so determined to realize its dream that it bought its own shipbuilder in Germany. It didn’t take long before trouble surfaced by way of a global pandemic, and Genting Hong Kong was caught […]
Industry
January 10, 2022
China Tackles 17,000 Cases of Cross-Border Gambling in 2021
China’s Ministry of Public Security has revealed the numbers of illegal cross-border gambling in 2021, arguing that enforcement officers have detected and addressed 17,000 instances of such breaches. China has been a hardliner against cross-border gambling, focusing on junket operators in the special administrative region of Macau and issuing a stern warning to foreign governments to clamp […]
Legal
January 10, 2022
Philippine Court Clears Okada Manila Founder of Fraud
A legal battle involving Kazuo Okada that has been brewing for years is now only going to gain strength. The Court of Appeals of the Philippines has rescinded fraud allegations against the Japanese billionaire entrepreneur and Takahiro Usui, an associate, regarding claims of misappropriation of more than $3 million from Tiger Resort, Leisure and Entertainment […]
Industry
January 7, 2022
Tamil Nadu Bans Online Gambling Amid Suicide Cases
Tamil Nadu, an Indian state at the southernmost tip of the Indian subcontinent, has taken a stance against online gambling and is moving toward banning it locally. The news was announced by Chief Minister Muthuvel Karunanidhi Stalin in the State Assembly. Tamil Nadu Will Ban Online Gambling to Protect the Youth Stalin gave further insights […]
Industry
January 6, 2022
Macau Bans Overseas Civil Flights Out of COVID Concerns
With COVID-19 cases on the rise once again, the Macau Special Administrative Region of the People’s Republic of China has prohibited all kinds of passenger flights arriving from outside of China. Macau Closes Its Borders for International Flights COVID-19 continues to prove itself one of the worst disasters befalling contemporary humanity. Each time it seems […]
Industry
January 5, 2022
Macau’s Casinos Could Become Guinea Pigs for China’s Digital Currency
China has big plans for its central bank digital currency (CBDC), the digital yuan. Pilot programs have already been introduced to test its ability, but big changes could soon be coming. A report by Reuters indicates that those changes may include Macau’s casinos. Macau to be Chinese CDBC Guinea Pig As Macau prepares to introduce […]