The heads of crime investigation units of Macau, Guangdong and Hong Kong held a tripartite working conference in the Guangdong city of Meizhou, and agreed to further step up cooperation in combating cross-boundary crime, including triad crimes, in order to improve law and order in the three places. The three-day meeting from May 29 to May 31 is taking place in the city of Meizhou, about one hour east of Guangzhou.
Monthly Archives: May 2013
Pachinko arcade operator Dynam Japan Holdings Co Ltd says it is looking for business opportunities in Macau’s gaming mass market opportunities that it would take in cooperation with a casino operator here. “We are in talks on cooperation terms with Macau gaming companies, but do not have any actual agenda at the moment,” Dynam chairman Yoji Sato said during an earnings presentation yesterday. Dynam, a Japanese company listed in Hong Kong, is also seeking to change its charter, allowing it to get into restaurants, manufacturing, selling coffee and lending to companies in Japan and overseas.
Macquarie Equities Research forecasts that Macau’s effective gaming tax rate is likely to rise when the current concessions and sub-concessions expire in 2020 and 2022. In Macau, casinos pay a 39-percent effective tax on gross gaming revenue. “Considering Macau’s history with concessions, we believe the government will likely increase taxes again when the concession terms end in 2020-2022,” Macquarie says.
An American casino billionaire looks set to force a U-turn in anti-smoking laws in Spain as a desperate government seeks ways to kick-start the country’s economy. Sheldon Adelson visited Spain’s prime minister, Mariano Rajoy, in Madrid earlier this week as he completes his proposal for a vast complex of casinos, hotels and conference centers known as Eurovegas on the outskirts of the Spanish capital. Eurovegas would become one of Europe’s biggest construction sites, creating tens of thousands of jobs in a country where the unemployment rate is expected to hit 28% by the end of this year. But Adelson wants gamblers to be allowed to smoke inside the complex something that is against Spanish health laws.
Speaking during an onstage interview at the Jerusalem International Tourism Summit this week, Las Vegas Sands CEO Sheldon Adelson said his planned Euro Vegas resort project in Madrid would emphasize amenities aimed at the meetings and conventions sector, including a total of 2,400 meeting rooms and 12 hotels with about 3,000 rooms each. Adelson, who credited his previous success on his focus on the meetings, incentive, convention and events business, cited it as the foundation for his properties in Las Vegas, Macau and Singapore, and said he will stick to the formula in his anticipated projects. Euro Vegas “may become the convention center of the world,” Adelson said. He added that the scale of the project along with his “integrated resort” approach that includes meeting and hotel space adjacent to shopping, restaurants, entertainment and gaming will provide “critical mass.”
Aristocrat Leisure announced its results for the six months to 31 March 2013, and confirmed its expectations for strong Net Profit After Tax growth over the full year to 30 September 2013 compared to the prior 12 months to 30 September 2012. Group performance for the first half was ahead of the prior corresponding period, with a strong NPAT result of us$ 52.6 million, representing an 11.2% increase over the prior corresponding period, 13.1% in constant currency. In light of Aristocrat’s strengthening financial position, the Board has determined that, effective immediately, the company’s dividend policy will be to introduce an increased target payout ratio of 60% to 80% of normalized net profit after tax.
Genting, the Malaysian casino giant with expansion plans in Miami and Bimini, reported a drop in profits worldwide at the start of the year. But the company remains extremely profitable. Genting, which purchased the former Miami Herald site in 2011 and is about to open a Bimini casino, reported a first-quarter profit of $272 million… down 26 percent from the prior year, after a drop in revenue from Genting’s casinos in Singapore and the United Kingdom. Its U.S. operation, the Resorts World New York City casino, generated a profit of about $26 million during the three months that ended March 31. Genting recently purchased a Las Vegas casino it will be adding to its Resorts World chain, and plans to open Resorts World Bimini in the fall.
Unbeaten Dawn Approach will have 11 challengers as the favorite for the 234th Investec Epsom Derby June 1. Trained by Jim Bolger, who co-owns the Irish-bred New Approach colt with Godolphin Racing, Dawn Approach will bid to add a second jewel of the English Triple Crown to his record following his win in the first event, the QIPCO Two Thousand Guineas on May 4 at Newmarket. The even-money favorite with bookmaker Coral, Dawn Approach is undefeated in seven career outings, including two wins at the group I level as a 2-year-old. In his first start of 2013, his brilliant five-length triumph in the one-mile Guineas over previously undefeated Toronado ensured favoritism for the 1 1/2-mile Derby.
Jockey Frankie Dettori, cleared by France Galop to resume his career, has been named to ride Team Valor International’s group II winner First Cornerstone in the Prix du Jockey Club at Chantilly June 2. Team Valor and trainer Andy Oliver offered the mount to Dettori May 29 if he were to receive clearance to resume riding. Dettori was suspended for six months after testing positive for an unidentified substance that he later told Channel 4 was cocaine. France Galop cleared him to ride May 30. The British Horse Racing Authority has also cleared Dettori to ride. He has mounts on Beatrice Aurore and Fattsota at Epsom Downs May 31, according to the Racing Post.
As a young boy, township Trustee Jim Davis got goose bumps as he traveled with his uncle to the Mountaineer racetrack in West Virginia for the first time. He was that excited to watch the horses run. Davis got the same feeling Thursday driving to a ceremonial groundbreaking for the $125 million Hollywood Gaming at Mahoning Valley Race Course coming to his community. The gambling venue, expected to open in mid-2014, will feature up to 1,500 slots-like video lottery terminals, dining, a sports bar, one-mile thoroughbred horse track and 1,000-seat, enclosed grandstand.