Makinohara City in Shizuoka pulls out of Japan’s IR race Inside Asian Gaming · August 18, 2019 at 8:17 pm Makinohara City in Shizuoka Prefecture has announced it will no longer be pursuing an IR bid. The city was hoping to cooperate with Shizuoka Prefecture in investment impact research and formulating an IR Basic Plan, but according to the Nikkei was unable to achieve the consensus of the local area and therefore did not proceed with the required basic research. The city held briefings in March and April where it received feedback from residents that they wanted to see the “specific advantages and disadvantages” of developing an IR.
Sports Betting App Boosts theScore to 4-Year High Simran Jagdev, Bloomberg · August 18, 2019 at 8:08 pm Canada’s theScore Inc. rallied to the highest since July 2015 after getting the green light to launch a mobile application for sports betting in New Jersey. The Toronto-based company said that it would first offer the mobile app to a select group of sports bettors in the U.S. state, before a statewide launch ahead of football season. Shares of the small-cap company climbed as much as 18% Friday, taking this month’s rally to 35%. “This is a huge milestone,” theScore’s founder and Chief Executive Officer John Levy said in a statement. It had first announced plans to start a mobile betting app in New Jersey last year, after a licensing deal with two racetrack operators
Cambodia to ban online gambling, cites threat to social order Reuters · August 18, 2019 at 7:37 pm Cambodia said on Sunday it is banning online gambling, which helped propel a wave of Chinese investment in casinos in the country, saying that the industry had been used by foreign criminals to extort money. The southern coastal city of Sihanoukville has emerged as a particular center for gambling and many of the dozens of Chinese-run casinos that have sprung up there have online gambling operations. “The Royal Government of Cambodia will stop the issuance of online gambling policy and licenses, both within and outside of the Kingdom of Cambodia, from the date of signing this directive,” said a directive signed by Prime Minister Hun Sen.
Suncity to shut its Australian casino high-roller rooms after reports of crime links Nick Toscano and Nick McKenzie, The Age · August 17, 2019 at 2:37 pm The world’s biggest recruiter of high-roller Chinese gamblers, Suncity, is dramatically scaling back its Australian operations after revelations of its alleged links to organised crime. Star Entertainment, Australia’s second largest casino operator, on Friday said a mutual decision had been reached with Suncity “in the last 10 days” to shut down Suncity’s fixed high-roller room inside The Star’s flagship Sydney casino. And sources with knowledge of the situation have confirmed that Suncity’s fixed high-roller room at the Crown casino in Melbourne’s Southbank will also be closing as a result of the company’s retreat. Suncity is the largest Macau-based “junket” agent that brings cashed-up Chinese punters to casinos in Australia and around the world, where they can often gamble many millions of dollars per hour. Advertisement
Las Vegas Sands sponsors major Osaka music festival Summer Sonic Tomo Yamamoto, Inside Asian Gaming · August 16, 2019 at 8:09 am Las Vegas Sands has announced it will be the main sponsor of Summer Sonic 2019, to be held in Sonic Park, Mishima, Osaka from 16 to 18 August. Summer Sonic is an urban rock festival celebrating its 20th anniversary this year. Over 30 artists and bands are scheduled to appear, including Red Hot Chili Peppers, Tash Sultana, Naoto Inti Raymi and Kaela Kimura. This is the first time Las Vegas Sands has sponsored such a big event in Osaka. Maishima is close to Yumeshima, the candidate IR site for Osaka, and presents a unique PR opportunity for the company to foster relations with the local community and youth at the event.
Genting Malaysia confident of meeting “liquidity challenges” ahead of rumored Empire Resorts bankruptcy claim Inside Asian Gaming · August 16, 2019 at 12:33 am Genting Malaysia has stated confidence that it can address any liquidity challenges at Empire Resorts following reports that the US-based casino operator is on the verge of declaring bankruptcy. It has been alleged this week that Empire Resorts, which owns and operates New York’s Resorts World Catskills and harness horseracing facility Monticello Raceway, will file for bankruptcy if it can’t produce fresh capital or a restructuring of more than US$400 million in debt. The financial concerns follow a recent announcement by Genting Malaysia that it has entered into a binding term sheet with Kien Huat Realty III Ltd, the family trust of its Chairman Lim Kok Thay, for the company’s wholly-owned subsidiary Genting (USA) Ltd to acquire 13.2 million shares in Empire Resorts, equivalent to a 35% stake.
Macau Casino Operator Galaxy Reports 7% Profit Drop Wen Simin and Tang Ziyi, Caixin Global · August 16, 2019 at 12:04 am Galaxy Entertainment Group Ltd., one Macau’s biggest casino operators, reported its profit dropped 7% in the first half of the year as the world’s richest gambling hub continues its efforts at a recovery after a national crackdown on corruption scared away high-rollers. The company posted profits of HK$6.7 billion ($850 million) in the first six months on revenue of HK$26.2 billion, according to the group’s financial report filed to the Hong Kong Stock Exchange on Tuesday. Galaxy’s gross gambling revenue, including from its affiliate City Clubs, was $30.6 billion, down 11% year-on-year, dragged by a plunge in its business catering to the wealthy.
Cambodia: Ministry tells public to beware of phishing and online gambling Taing Vida, Khmer Times · August 15, 2019 at 10:29 pm The Interior Ministry’s information technology department has warned online gamblers that they are vulnerable to hacking and phishing attacks as authorities try to keep pace with criminals. According to a statement obtained yesterday, the department said online gambling has hooked many youths. It said the number of online gamblers have increased dramatically over the years, and that it’s a problem the authorities are attempting to address. It noted users who gamble online could be vulnerable to phishing schemes. “A person could hack into your account and steal your password through hacking,” it said. “It can access webcams and microphones that can capture [image] and record your voice.”
Casino giant The Star’s profit falls amid Asian high-roller downturn Nick Toscano, The Sydney Morning Herald · August 15, 2019 at 10:19 pm Australian giant Star Entertainment has been hit by a sharp fall in spending from its wealthiest high-stakes foreign gamblers, dragging profit from its VIP program down 35 per cent in a year. The group on Friday reported that a slump in VIP high-roller gambling had sliced the company’s normalised net profit after tax by 8.4 per cent to $224 million. Turnover from foreign high rollers was $42.4 billion over the 12 months to June 30 – a decrease of 30.7 per cent on the previous year. The outlook for Australian casinos’ programs catering to foreign high rollers particularly from China, who can turn over millions of dollars an hour, has become difficult to predict in the midst of the US-China trade war and softening economic growth in China.
PNP probing casino junket operators for rise in kidnappings of Chinese gamblers Gabriel Pabico Lalu, The Inquirer · August 15, 2019 at 9:24 pm The Philippine National Police recorded at least 52 cases of kidnapping linked to casinos since 2017. The PNP Anti-Kidnapping Group (AKG) released data on Wednesday (Aug. 14) showing that at least 119 Chinese nationals had been arrested in connection with the kidnapping cases. The PNP AKG said gangs penetrated casinos and offer loans to gamblers at usurious rates. When gamblers fail to pay, they are kidnapped by the gangs to force them to cough up payment.
