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Industry
January 3, 2022
Macau Sees Significant GGR Growth as 2021 Winds Up
Macau was able to find some solid ground in 2021, despite ongoing global issues with COVID-19. The level of activity for the year wasn’t where the casino hub thought it would be, but it was a huge step in the right direction. As the pandemic continues to cause problems, whether Macau will see more growth […]
Industry
January 3, 2022
Rich Goldman Announced Solaire Profit Sharing Agreement Void
Rich Goldman Holdings, a company involved in junket operations as part of its leisure and entertainment business, announced in a filing to the Hong Kong Exchanges and Clearing (HKEX) that the profit share agreement with a venture partner related to junket business at Solaire Resort & Casino in Manila had been terminated. Agreement Terminated Rich […]
Casino
December 30, 2021
Macau Hotel Occupancy Improves, But Omicron Threat Looms
Macau’s hospitality industry in November saw a 44.1% occupancy rate, or a 2.4% increase year-over-year. Macau has been one of the longest-standing bastions against the global pandemic, with the special administrative region (SAR) registering not a single COVID-19 case since early into the pandemic. That was until recently. However, the region has reported its second […]
Industry
December 29, 2021
Genting Singapore to Dissolve Its Subsidiaries in Japan
Genting Singapore, the operator of Resorts World Sentosa integrated casino resort in Singapore, announced this week that a plan that would see 8 Japanese subsidiaries shut down was put in motion. Japanese Subsidiaries on the Chopping Block According to Genting Singapore’s announcement Tuesday as reported by GGRAsia, the company placed its Japanese units “under members’ […]
Business
December 29, 2021
GKL to Relocate Millennium Hilton Seoul Casino to Seoul Dragon City
A casino operator in Seoul, the capital of South Korea, is moving one of its venues to another location to facilitate the disposal of its previous site that was sold to a third party earlier this month, GGRAsia reported. New Site Lease Secured Grand Korea Leisure (GKL), a subsidiary run through the Korea Tourism Organization […]
Industry
December 28, 2021
Wynn Macau and Melco Resorts Severed Ties with Junkets
Two of the six casino licensees in Macau, Wynn Macau and Melco Resorts, confirmed to have completely cut their ties with junket operators, an article in GGRAsia revealed. Wynn Macau and Melco Resorts The junket sector has been seriously hit after the arrest of Suncity chief executive officer Alvin Chao last month when analysts predicted […]
Industry
December 28, 2021
Osaka’s IR Project Gets Support from Political Heavyweight
The final leg of Japan’s integrated resort (IR) plans is rapidly approaching. With only a few months remaining until proposals must be submitted, Osaka is bringing in a well-connected individual. City and prefectural authorities have appointed Hiroto Izumi, a former adviser to two Japanese prime ministers, as their aide in Osaka’s urban planning. This includes […]
Casino
December 28, 2021
Naga World Protesters Demand NagaCorp Obeys Labour Laws
The continuing peaceful demonstrations of former NagaCorp employees in front of Naga World in Phnom Penh, Cambodia, prompted a response from the Ministry of Labour and Vocational Training, reported The Phnom Penh Post. Protests to Continue Marking a 10th consecutive day of protests, the people at the casino resort demanded a lawful solution to the […]
Business
December 27, 2021
NagaCorp Deferred Award Share Grants to FY2022 or FY2023
NagaCorp, the operator of NagaWorld casino resort in Cambodia, announced in a filing to the Hong Kong stock exchange that a planned share award program would be further delayed. Share Award Scheme Further Delayed NagaCorp stated in the Friday filing that, due to the prolonged global market disruption caused by the recent developments related to […]
Legal
December 27, 2021
Macau Set to Finalize Casino Concessions Ahead of Expiry
Macau authorities are looking to open the bidding process for new casino licenses prior to the expiration of the current gambling permits, suggested notes from JP Morgan Securities (Asia Pacific), Morgan Stanley, and Sanford C. Bernstein. JP Morgan Securities On Thursday, the government of the Special Administrative Region (SAR) of China released its summary report […]