Business
January 19, 2024
Deutsche Bank Analyst Reevaluates Q4 Projections for Las Vegas Sands
Las Vegas Sands, the globally recognized hospitality and gaming company, confirmed the launch of a massive revamp at Marina Bay Sands back in February 2022. Earlier this week, the second phase of the project was initiated which involved a $750 million reinvestment. Again, this week, Las Vegas Sands’ share price target marked an increase. Carlo […]
Industry
January 18, 2024
Marina Bay Sands Pours $750M into Second Phase of Hotel Renovation
The premier business, entertainment and leisure destination, Marina Bay Sands, confirmed the launch of the second phase of its reinvestment program on Thursday. The next phase of the venue’s transformation represents a reinvestment of $750 million. The second phase of Marina Bay Sands’ redevelopment will help transform Tower 3, ensuring the integrated resort remains a […]
Industry
January 17, 2024
End of an Era: Macau’s Historic Racing Industry Closes in April
The decision to conclude racing in Macau, effective 1 April, has left the racing community in shock, raising questions about the future of hundreds of industry figures. The demise of racing in Macau was not entirely unexpected, given the financial struggles of the Jockey Club over the years. However, the abrupt timing of the decision […]
Industry
January 16, 2024
Macau Can Expect Stable Q4 EBITDA Growth
Macau’s six concessionaires are expected to report a 6% increase in aggregate Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the fourth quarter of 2023, with SJM Holdings and Wynn Macau leading the way. The casino resorts must adapt to rapidly shifting industry trends, but 2024 should present more opportunities than challenges, helping the […]
Industry
January 15, 2024
Macau Jockey Club Terminates Concession as Losses Exceed $2.5B
Macau Horse Racing Company Limited, the company behind the Macau Jockey Club, announced with regret that it has reached an agreement with the Macau government to terminate its concession contract. Under this agreement, the contract will expire on April 1, 2024. The Macau Jockey Club was founded through a contract between the Portuguese government and […]
Business
January 9, 2024
Genting Singapore May Consider Thai IR Investment, Analyst
Genting Singapore, the operator of Resorts World Sentosa, a leading casino and entertainment venue located in Singapore, may consider investment in an integrated resort (IR) in Thailand, a new report suggests. According to Samuel Yin Shao Yang, a leading analyst with investment bank Maybank, there is an opportunity for the operator to pursue options for […]
Industry
January 8, 2024
More than $42bn Wagered Online through Suncity, Claims Report
Suncity Group, once a leading casino junket, was responsible for some RMB300 billion ($42 billion) in wagers via online gambling activities, a report released by China Central Television (CCTV) reveals. Details emerged Monday with the report claiming that the junket operator benefitted from some RMB8.7 billion ($1.22 billion). Currently, online gambling activities are prohibited in […]
Industry
January 5, 2024
The Philippines Hopes to Exit the FATF Grey List by the End of the Year
The Philippines is bullish on exiting the FATF grey list this year. To that end, the country’s president, Ferdinand R. Marcos Jr has asked all government agencies to fix the regulatory shortcomings identified by the Financial Action Task Force. According to reports, Marcos’ directive was communicated to agencies during a recent meeting. During that meeting, […]
Casino
January 5, 2024
Residents of Korea’s Jeju Island Believe Casinos Should Be Better Regulated
South Korea’s foreigner-only casinos do not sit well with many of the local residents. According to a recent report, roughly half of the residents of Jeju Island believe that these properties have led to a drastic increase in crime. According to these locals, stricter regulations are needed. The survey was conducted by representatives of the […]
Industry
January 4, 2024
India: Five Arrested in Police Operation against Illegal Gambling
Countries across the globe continuously fight against illegal gambling activities. The black market is often tied to criminal activities, including money laundering and terrorism financing but also increases violent crimes. India is one of the countries in Asia that has an ongoing dedication to fight illegal gambling. Recently, a massive raid resulted in the arrest […]
