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Business
December 13, 2021
Suncity May See Ownership Change as Creditors Come Calling
Suncity Group of Hong Kong, listed on the Hong Kong Stock Exchange, has indicated a possible change in control could be coming. The group holds interests and assets in integrated resort developments throughout Macau, Vietnam, Russia and the Philippines. However, the arrest of its former CEO, Alvin Chau, has virtually flipped the company upside down. […]
Casino
December 10, 2021
Malaysia Apprehends Five Gambling Syndicate Members in Raid
While many countries around the world still may lack a clear-cut way of regulating their gambling industries, the majority is unequivocal when it comes to enforcing the law in the case of illegal gambling. Malaysia is one such place where underhand operators are not treated kindly by authorities. In a recent ride in Taman Ungku […]
Business
December 10, 2021
Suncity Group Financial Situation Worsens as Trading Halted Again
Due to concerns about a possible default on a loan, both Hong Kong’s Suncity Group Holdings and Summit Ascent Holdings, a majority-owned subsidiary, were placed under a trading halt. The suspension came as the two companies announced the pending release of information that could hinder its future. Suncity Struggles to Find Solid Ground Trading in […]
Industry
December 10, 2021
Border Restrictions Easing Between Macau, Hong Kong and China
According to the South China Morning Post (SCMP), Beijing has given final approval for dropping its hard border with Hong Kong. This allows fully vaccinated Hong Kong residents to travel without quarantine to Guangdong Province or Macau. New Travel Rules Coming Soon After Hong Kong’s legislative elections on December 19, the scheme will go into […]
Business
December 9, 2021
Okada Manila IR Operator Changed Name Ahead of NASDAQ Listing
The global trend of rebranding did not pass by integrated casino resort operators after Okada Manila International, Inc., owner of the largest integrated resort in the Philippines. Okada Manila, announced today a corporate name change to “UE Resorts International, Inc.” New Chapter, New Name The new business entity UE Resorts International will continue on the […]
Business
December 9, 2021
Vietnamese Online Gaming Brand Looks to Raise Cash, Launch US IPO
VNG Corp., a rapidly-growing Vietnamese online casino operator, seeks to raise as much as $300 million in investments. It is also reportedly eyeing a public launch of its shares on a US stock exchange. VNG Finds Rapid Growth Recently, reports surfaced that VNG is seeking to raise $200m to $300 million from GIC Pte., Singapore’s […]
Industry
December 8, 2021
Nagasaki Enhances IR Design to Better Reflect Prefecture’s Goals
Nagasaki’s integrated Resort (IR) may look different from previous drafts. Although the project’s look has been updated by the prefecture, the cost will likely remain the same. Nagasaki Sculpting its IR Future According to GGRAsia, Nagasaki made the decision to improve the architectural appearance of the IR to “enhance symbolism” the property. However, the resort’s […]
Industry
December 8, 2021
Macau’s Junket Days Reported to be Over
The world’s largest casino junket market could soon disappear. Reports this week claimed that Macau has called for a halt to junket operations. The SAR has also reportedly ordered junkets not to loan money to VIP clients. The End of a Junket Era in Macau Macau’s casino concessionaires could end all contracts with junket proponents, […]
Industry
December 7, 2021
Macau’s Casinos Report Slight Uptick in Revenue for Early December
Macau casino gross gaming revenues (GGR) increased 14% in the first week of December, according to a Monday note by brokerage Sanford C. Bernstein Ltd. Daily mass-market GGR rose by 20% compared with November’s daily average. December Starts Strong For Macau According to the brokerage, the average daily rate for GGR from December 1 through […]
Casino
December 6, 2021
Thailand Shows Interest in Opening Casino Resorts in the Near Future
The parliament of Thailand will be launching a study to possibly introduce casino gaming as MPs supported the idea unanimously last week, bar a few dissident voices. At the moment, it remains unclear as to how many casino resorts would be legalized, nor where are they going to be located should the legalization move proceed […]