NagaCorp starts pile cap work for Russia casino: regulatorGGRAsia · April 23, 2018 at 8:29 amCambodian casino operator NagaCorp Ltd has begun pile cap work for its casino resort in the Primorye Integrated Entertainment Zone near Vladivostok in the Russian Far East. That is according to a Friday press release by the Primorsky Krai Development Corp. Primorsky Krai Development is a company owned by the local government, and that is overseeing the Primorye Integrated Entertainment Zone, a casino development area located 50 kilometres (31 miles) from Russia’s Pacific port of Vladivostok. “The work will take about three months; in parallel the investor will begin erecting a skeleton for the hotel building,” the release stated.
Caesars in further talks with Queensland governmentG3 Newswire · April 23, 2018 at 8:13 amGlobal casino giant Caesars Entertainment has returned to Australia for the second time in 12 months in a bid to bring its world-famous brand to the Gold Coast. Caesars President of International Development Steven Tight has led a recent delegation for renewed discussions with Mayor Tom Tate and leading Government officials including State Development Minister Cameron Dick. Mr Tight is also believed to have had a separate dinner with Gold Coast tourism executives. Gold Coast Acting Mayor confirmed the talks. She said: “We’d obviously welcome any new investment in this city. It’s a matter for state government to decide if this city gets another casino licence.”
1Q net income up 10pct at City of Dreams Manila landlordGGRAsia · April 23, 2018 at 8:11 amNet income at Belle Corp rose 9.6 percent in the first quarter, to nearly PHP857.5 million (US$16.4 million) from nearly PHP782. 5 million in the prior-year period, the firm said in a filing to the Philippine Stock Exchange on Monday. The company is entitled – via its 78.7 percent-owned subsidiary, Premium Leisure Corp – to a share of “gaming revenues or earnings” at City of Dreams Manila (pictured), a Manila casino resort operated by Melco Resorts and Entertainment Ltd, Belle Corp noted in its announcement. . Group wide, the contribution of its gaming revenue share fell by 8 percent year-on-year in the three months to March 31, to just over PHP664.3 million, compared to nearly PHP721.9 million in the prior-year quarter.
Galaxy’s Philippines partner still buying up Boracay land: reportInside Asian Gaming · April 23, 2018 at 8:04 amGalaxy Entertainment Group’s Philippines partner, Leisure and Resorts World Corp (LRWC), is still buying land in Boracay despite recent claims by President Rodrigo Duterte that no new casinos would be built on the holiday island. According to a report by The Philippine Star, Municipal Executive Assistant for Boracay Affairs, Rowen Aguirre, has revealed that LRWC is not content with the 23 hectares it previously acquired for its US$500 million integrated resort, stating, “I’ve heard that they’re still in negotiations with several other property owners for additional acquisition.”
Melco Resorts May Have an Edge in Japan Casino BiddingRich Duprey, Motley Fool · April 22, 2018 at 11:26 pmHong Kong-based gaming operator Melco Resorts & Entertainment (NASDAQ:MLCO) may have catapulted itself to the front of the pack of casino operators trying to win one of the first licenses to be issued in Japan. Like Las Vegas Sands and MGM Resorts, Melco has said it was willing to spend $10 billion or more constructing its integrated resort. And like the Hard Rock Cafe, which last year established a local subsidiary in Japan for the express purpose of supporting “the company’s growth plans in the region,” Melco said it’s willing to relocate its corporate headquarters to Japan if it’s successful.
Inside the Chinese tropical island dubbed the ‘Hawaii of the East’Alexandra Ma, Business Insider · April 21, 2018 at 5:10 pmChina is planning to transform an island the size of a small country into a sprawling hub for foreign investment, gambling, tourism, and luxury. Xi Jinping’s government announced its plans for Hainan last month. It said it would encourage the horse racing, gambling, and water sports industries to the island known as the “Hawaii of the East.” This is a big deal: The Chinese Communist Party bans its members from playing golf, prohibits gambling, and only allows occasional horse-racing.
Canada’s Stars Group to acquire Sky Betting & Gaming for $4.7 billionCDC Gaming Reports · April 21, 2018 at 11:31 amCanadian gaming operator The Stars Group Inc., the company behind the PokerStars brand, said Saturday it has agreed to acquire Sky Betting & Gaming in a cash and stock transaction valued at $4.7 billion, creating the world’s largest publicly listed online gaming company. The deal is the company’s largest since Stars bought PokerStars for $4.9 billion in 2014. Toronto-based Stars Group will pay cash and stock to private equity firm CVC Capital Partners and Sky. Analysts had expected CVC – sponsor of the English Football League – to take Sky public. In February, Reuters reported that CVC had selected investment banks to lead an initial public offering. CVC said it would receive around 425 million pounds ($595 million) in cash, as well as shares worth around 145 million pounds, in exchange for its 20 percent stake in Sky Bet. The deal is expected to be completed in the third quarter of… [continue reading]
ACT government urged to dump pokies for Canberra Casino plansDaniel Burdon, The Sydney Morning Herald · April 20, 2018 at 8:32 amA director of the Gambling Reform Alliance, Tim Costello, has urged the ACT government to abandon any proposal to introduce poker machines at Canberra Casino. Mr Costello said the government needed to abandon the proposed pokies expansion at the casino and “instead focus more aggressively on delivering the promised 20 per cent cut in pokies numbers across the territory”. His comments follow the government last week setting a one-month deadline on casino owners Aquis to provide key details of its redevelopment plans in the wake o legislating to allow the machines in the casino last year.
The Netherlands considers some loot boxes to be gamblingMCV · April 20, 2018 at 8:27 amSome loot boxes can be considered gambling, according to the Netherlands gaming authority. Which has in turn warned video game publishers to remove elements from their loot box systems that it considers to be addictive before June 20th. The authority looked into ten popular games, and judged that four of them were in violation of the country’s Betting and Gaming Act. It decided that loot boxes are games of chance, and that the contents had monetary value as they can be traded outside of the game. Therefore it is prohibited to offer these games without a licence. The developers and publishers are now required to remove any ‘addiction sensitive’ elements from their loot box systems.
British casinos & sportsbooks eye America’s untapped gambling sceneBusiness Matters · April 20, 2018 at 8:27 amBritish sportsbook William Hill has been around since 1934. In that time, William Hill has become one of the world’s leaders in sportsbooks and online gaming. According to Bloomberg, William Hill owns and runs over 25 per cent of all brick and mortar betting shops in the United Kingdom. Punters can wager on sports or play casino games in these shops. The company features even more casino games and sports betting via its website, and it attracts punters from all over England.
