The chairman and controlling shareholder of casino operator Macau Legend Development Ltd, David Chow Kam Fai, increased his stake in the company by 0.09 percent to 30.22 percent this week, Bloomberg reports…Ina Chan Un Chan, had increased her stake by 0.81 percent to 15.36 percent.
Monthly Archives: February 2014
Hong Kong-listed casino equipment maker Paradise Entertainment Ltd says its subsidiary LT (Macau) Ltd is to provide services including “sales, marketing, promotion, player development and referral,” to Waldo Casino in Macau. The property branded as Waldo Casino & Hotel operates under a gaming licence from Galaxy Entertainment Group Ltd. “It is anticipated that this arrangement will further expand the group’s business and market share in Macau,” said Paradise in a press statement, which at the time Business Daily went to press, had not been filed with the Hong Kong Stock Exchange. Paradise stated that Waldo Casino has 30 gaming tables, including “Live Multigame Machines”, and 200 slot machines. The firm added: “LT (Macau) is entitled to approximately 56 percent of the net win of the tables, Live Multigame Machines and slot machines of Waldo Casino, and such income will undoubtedly boost the group’s revenue”.
One of the largest neighborhood groups in Macau says it has collected 16,000 signatures asking the government to remove a slot machine parlor in the Inner Harbor district now instead of waiting longer. Secretary for Economy and Finance Francis Tam Pak Yuen said last week the government aims to eliminate all non-casino slot venues, but indicated that might not be completed until at least 2015. That’s when the government expects to begin formal talks with the gaming concessionaires and sub-concessionaires on possible renewal of their licenses. This week the General Union of Neighborhood Associations delivered a petition with the signatures to the government’s headquarters calling for swifter action.
The Statistics and Census Service (DSEC) revealed yesterday that Macau’s population reached 607,500 at the end of last year, representing an increase of 25,500 people (more than 4.4 percent year-on-year). The female population accounted for 51.4 percent of the overall number of inhabitants.
The unemployment rate in Macau dropped to 1.7 percent between November 2013 and January 2014. According to information provided by the Statistics and Census Service (DSEC), the rate has further declined “as the job market has remained robust.” The number of unemployed people was 6,500, down by 300 from October to December 2013.
Hong Kong billionaire, Tony Fung, has plans for a massive casino complex on Australia’s Great Barrier Reef, and now has added the country’s Casino Canberra to a bid announced last year for the Reef Casino in the northern Queensland city of Cairns. Fung’s Aquis Casino Acquisitions will spend A$270 million for Reef Casino Trust, the latter’s ownership entity, whose partners include Casinos Austria International and hotel giant Accor, and the Canberra property in the Australian Capital Territory southwest of Sydney at the other end of the continent. Casino Canberra is also controlled by CAI.
The Investigative Committee has dropped all charges against two former police officers who spent more than a year in pre-trial detention on suspicion of covering up an illegal gambling ring, a news report said. Former Interior Ministry officials Farit Temirgaliyev and Mikhail Kulikov will seek reinstatement to their jobs and compensation for 18 months’ worth of lost wages as soon as they receive the official paperwork showing that the case against them has been closed, Kulikov’s lawyer Yelena Vasilyeva said, Kommersant reported on Thursday. The two men were arrested in June 2011 on suspicion of taking more than $225,000 in bribes from illegal casinos in the Moscow region in exchange for warning them about upcoming police raids. The Supreme Court ruled last year that the arrests were unlawful in a case that is widely seen as a key battleground in the turf war between the Investigative Committee and the Prosecutor General’s Office, which began in 2010, after then-President Dmitry Medvedev split the two agencies into independent bodies.
The parent company of Dutch 3D online slots developers Sheriff Gaming has had its gaming license officially revoked by the Alderney Gambling Control Commission (AGCC). A notice on the AGCC site says the Commissioners have withdrawn the Category 2 Associate Certificate of Bubble Group BV following a regulatory hearing on Monday at which it was determined that the company was “no longer fit and proper to hold such a certificate.” The AGCC had suspended Bubble Group’s B2B gambling license in September after a joint operation by Dutch prosecutors, gaming regulators and tax authorities targeted Bubble Group’s ownership over alleged drug dealing, money laundering and illegal gambling activities.
The Autonomous Administration of the State Monopolies (AAMS) Italian gaming authority has reported that the country’s regulated online poker market is continuing to decline. Wagers in poker cash games during January 2014 grossed USD 16.7 billion, a drop of 20% on the previous year and a fall of 50% on January 2012. In addition, tournament revenues also declined by 26% in comparison with January 2013.
Desert Diamond Casinos & Entertainment is proud to announce that it is first casino in Arizona to offer Keno Cloud, a convenient high-tech way for guests to watch live Keno drawings and review past results… Keno Cloud allows guests to watch Keno drawings in real time, track their results, review past drawings, and see which numbers have been on a hot or cold streak. Keno Cloud can be accessed by computer, mobile phone, or tablet so that guests can watch the results or check the latest hot numbers at their convenience… .Desert Diamond Casinos & Entertainment with three locations in Southern Arizona is an enterprise of the Tohono O’odham Nation.