Gaming investor Amax International Holdings Ltd. has announced the intent to sell its wholly-owned subsidiary Le Rainbow to Mainland Chinese businessman Zeng Weizhan… The subsidiary, which has been in the red for two consecutive fiscal years, owns a 42.6 per cent stake in a company called LE-Guangxi that provides gaming services to the Guangxi Welfare Lottery Issue Centre.
Monthly Archives: May 2016
A former head of marketing of the Philippine gaming regulatory agency sees potential in iGaming for Macau but also the need for regulation, using the growing Philippines market as an example. A Philippines gaming expert believes that the SAR can profit from the online gaming sector, given the success of the industry for Southeast Asian gaming operators so far, although regulation is essential for creating the right investment environment.
Secretary for Security Wong Sio Chak said on Monday that the number of gaming-related crimes rose by 55.9 per cent year-on-year in the first quarter of the year… gaming-related criminal activities, such as loan sharking and false imprisonment, recorded a comparatively large increase compared with the same period last year, respectively up by 55.9 per cent and 32.8 per cent.
Macau casinos could be in for a rough ride, with more new resorts set to open, say analysts from Morgan Stanley. In the firing line is the gaming mecca’s fragile mass market which could leave casinos scrabbling around for customers. Junket operators are also in for a tough couple of years, analysts suggest, as VIP gambling in the region continues to drop.
Macau’s Secretary for Social Affairs and Culture, Alexis Tam Chon Weng, said on Friday that the city’s government was available to discuss the retention of smoking lounges inside casinos. Mr Tam’s comments were made after it was reported that a majority on the Macau Legislative Assembly working committee asked to scrutinize the city’s revised tobacco control bill, currently supported the retention of smoking lounges on casino main floors.
The Macau government is reportedly tightening its visa policy for executives working in the territory’s casinos in an effort to promote more locals into managerial positions… the bureau can deny requests for renewals of non-resident casino executives’ working visas if “there are local workers that can fulfill the necessary conditions to perform managerial roles.”
Macau saw both external and domestic demands for its services and goods decline for the first quarter of the year, in addition to less investment pouring into the territory. The city’s Gross Domestic Product (GDP) fell 13.3 per cent year-on-year in real terms for the first quarter of this year due to less investment attracted and fewer trade services exported.
Macau casino operator Melco Crown Entertainment Ltd has reported revenue at $97.5 million in 16Q1, compared to $0.4 million… as a result of Studio City starting operations in October 2015. Net loss for the quarter was $65.1 million, an increase of $36.2 million, “primarily due to the cessation of interest capitalization and increase in operating costs including depreciation and amortization expenses, partially offset by the net revenues generated and lower pre-opening costs in the current quarter upon its opening in October 2015,” said the operator.
Travelers who had braced for long lines and long waits were instead moving through most U.S. airports fairly quickly Monday, as the busy Memorial Day travel weekend drew to close… However, the airlines weren’t ready to say “mission accomplished” yet, as it’s just the beginning of the busy summer travel season… The airline continues to talk daily with the Transportation Security Administration to coordinate, American Airlines spokesman Feinstein said.
Each night, Major League Baseball games unfold in stadiums across the country, nine innings at a time, pitch by pitch. An ocean away, a network of computers whir, tracking every swing of the bat – and perhaps just as important, every placement of a bet. This season MLB has contracted with a London-based company to monitor baseball betting, using analytics, algorithms and proprietary software to ensure that nothing untoward might be taking place that could compromise the sport’s integrity. Baseball officials stress that the security measure wasn’t prompted by any incident or specific suspicion.