Thursday, October 29, 2020

Nine month PAGCOR revenues down 60%

PAGCOR has reported January-September revenues from gaming operations at PHP22.3 billion (US$460 million), down 60 percent year-on-year.

Local government revenues take pounding from Kangwon Land woes

The revenues of local governments in South Korea are being heavily impacted by the long-term suspension of operations at Kangwon Land, triggered by the Covid-19 pandemic, as well as a running dispute over the calculation of how much money the resort is obligated to pay to the abandoned mine fund.

Corona Casino achieved H1 revenues of US$30 million despite pandemic

The Vietnam Ministry of Finance said that despite complicated epidemic diseases in the first half of 2020, the Corona Casino in Phu Quoc achieved revenue of about VND700 billion (US$30 million) and paying taxes of about VND212 billion.
LVS provides Singapore surprise

Despite losses, LVS says recovery is well underway

Las Vegas Sands put a positive spin on the future outlook as it reported another quarter of heavy losses triggered by the Covid-19 pandemic.

The Star releases chairman and CEO addresses and trading update

On Thursday morning, The Star issued a trading update combined with the chairman and CEO addresses to the firm’s Annual General Meeting.

Sands China hit with US$562 million loss in Q3

Sands China reported a net loss of US$562 million in Q3, with net revenues falling 92.1% year-on-year to US$167 million. Group-wide operating losses were US$610 million with an 82 percent decline in net revenues.

Tabcorp reports 21Q1 group revenues down 5.7%

Tabcorp Holdings, the Australian racing and wagering firm, has reported 21Q1 group revenues down 5.7 percent as part of its report to its Annual...

Emperor Entertainment issues profit warning

Emperor Entertainment Hotel Ltd. has issued a profit warning for the six-month period ending September 30, noting that the firm expects a consolidated net loss attributable to owners of the Company of not more than HK$160 million (US$21 million).

IMF projections now see 53.5% drop in Macau’s annual GDP

The International Monetary Fund has worsened its outlook estimates for the Macau economy in 2020 and is now predicting a 53.5 percent drop in Gross Domestic Product for this year.

BetMakers reports quarterly cash receipts up 63 percent

BetMakers has reported cash receipts up 63 percent on previous quarter (A$3.9 million versus A$2.4 million) in a filing to the ASX. This is for the quarter ending September 30, 2020.

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Asia turns up heat on online gambling

Singapore police have busted at least two illegal gambling operations in the past week, while across Asia authorities have moved to stamp out illicit activities, from raids on premier league matches in India, to illegal number forecasting in Malaysia.
Puducherry government urges blanket ban on online gambling

Puducherry government urges blanket ban on online gambling

The Puducherry union territory government has urged the union government to ban online gaming platforms and mobile apps, describing it as a necessity to protect the mental health of vulnerable people.

Australia turns up the heat on gambling companies

Australia is again turning up the heat on gambling companies, this time with a bill that will make them responsible to compensate victims of players who used funds obtained illegally.

Macau inward investment jumped 168% in 2019

Information from the Statistics and Census Service shows that inward direct investment flows into Macao jumped by 167.8 percent year-on-year to MOP 53.99 billion ($6.7 billion) in 2019. Analysed by industry, inflows of direct investment in the Gaming sector and Financial Activities totalled MOP 43.31 billion and MOP 8.52 billion respectively.

Sikkim/Goa casinos to open from November 1

Delta Corp shares surged after it said its casino in Sikkim would reopen from Nov. 1, whilst casinos in Goa are also expected to reopen from the same date.