GGRAsia

Thailand advancing on casinos says deputy finance minister: Thailand’s government will move ahead with plans for so-called “entertainment complexes” says Julapun Amornvivat, deputy finance minister, in comments reported on Thursday. It is the term used in that country to denote large leisure facilities due to include casino space. Mr Julapun added that policy makers would be willing to make adjustments to a draft […]

SJM stable outlook backed by easing leverage: Moody’s: SJM Holdings Ltd’s ongoing debt-reduction effort and the expected contribution from the ramping up of its business at the Grand Lisboa Palace casino resort (pictured) in Cotai, supports a ‘Ba3′ corporate family rating and ‘stable’ outlook for the Macau gaming concessionaire, said Moody’s Investors Service Inc. But the ratings agency observed it did not expect […]

Sands China, Agoda to launch marketing campaigns in 4Q: Macau casino operator Sands China Ltd has announced a partnership with digital travel platform Agoda, aiming to “promote Macau to an international audience,” it said in a Thursday press release. “Multiple marketing campaigns” are planned to be launched in the fourth quarter, it added. The announcement quoted Kris Kaminsky, Sands China’s senior vice president of […]

Kangwon Land casino to get more gaming tables, machines: Kangwon Land Inc, operator of Kangwon Land (pictured) – a resort with the only casino in South Korea open to locals – says it has been authorised to increase the area of its gaming venue, including adding more gaming tables and machines. The company said in a Thursday filing to the Korea Exchange that it […]

China down to 4th in Philippines visitor market Jan-Aug: China was pushed into fourth place by Japan in terms of main source markets for tourism to the Philippines, according to data for the first eight months of 2024 published by the nation’s Department of Tourism. China’s August tally actually fell 25.3 percent month-on-month. However the year-on-year growth rate for tourists from China was still […]

Star Ent says working with advisers to tackle financial issues: Australian casino operator The Star Entertainment Group Ltd says it is working with “various” financial advisers to review its financial and liquidity position, as well to finalise its annual results for the financial year ended June 30. The casino firm, which remains under scrutiny from regulators over corporate cultural and governance issues, said in a […]

Wynn Oct investor day maybe good omen on UAE: JP Morgan: Casino promoter Wynn Resorts Ltd is to host an investor day in early October that the investment community hopes will shed light on the progress of the firm’s under-construction United Arab Emirates (UAE) scheme. That is according to a Wednesday note from banking group JP Morgan. “The fact that management is willing to host a […]

‘Thunderstorm 2024′ nets 200-plus in Macau crime sweep: A total of 213 suspects was held in Macau during a cross-border anti-crime sweep this summer aimed at the Macau gaming sector and involving Macau, Hong Kong and mainland authorities. ‘Thunderstorm’ is a long-standing annual cross-border collaboration between the trio, with the latest actions occuring between June 22, through to August 15. Of the 213 […]

Macau Golden Week outlook good amid FX crackdown: CLSA: The Macau foreign exchange (FX) tout “crackdown” appears to have “stabilised”, with “investors’ concerns likely overdone” regarding the city’s casino sector, says a Tuesday report from brokerage CLSA Ltd. The institution observed that Macau’s August gross gaming revenue (GGR) had grown month-on-month. That data point was subsequent to publicity about enhanced enforcement in Macau and […]

Wynn Macau Ltd adjusts bond conversion price after dividend: Macau casino business Wynn Macau Ltd says the conversion price of its US$600 million 4.50-percent convertible bonds due in 2029, will be adjusted subsequent to the company announcing the payment of dividends. In mid-August, Wynn Macau Ltd declared an interim dividendof HKD0.075 (US$0.01) per share, due to be paid on September 12. The casino operator resumed […]