The 13 Holdings Limited has disposed of 51.76 per cent of the total issued shares of Paul Y. Engineering Group Limited, a subsidiary of the company responsible for the construction of its flagship hotel in Cotai, The 13… struck for a total consideration of $38.42 million, ‘provides funding to finance the completion of the facilities and amenities of The 13 Hotel.
Monthly Archives: June 2017
Hong Kong-listed Paradise Entertainment Ltd announced on Thursday that it has entered into a letter of intent with casino services firm China Star Entertainment Ltd to acquire the latter’s Lan Kwai Fong hotel property (pictured) in Macau for a total purchase price of $304.9 million.
Macau Roosevelt unofficially opened yesterday, bringing 368 more rooms to the city’s supply and calling itself ‘Macau’s first true party palace and chic retreat’. The hotel, soon to house the Macau Jockey Club Casino pending government approval, looks out over the Macau Jockey Club’s horserace track and across to neighboring Hengqin Island, positioning itself as ‘the only 5-star lifestyle hotel in Macau’.
Chinese bettors withdrawing money from some ATMs in Macau need to do more than punch in their PIN code. They also have to stare into a camera for six seconds so facial-recognition software can verify their identity and help monitor transactions. Regulators in the world’s most lucrative gaming hub are deploying machines with “Minority Report”-style technology to keep tabs on capital outflows from China and watch for potential money laundering schemes.
The number of tourists travelling to Macau on package tours rose 20.7 percent year-on-year in May, reaching 681,000. Mainland visitors on package tours rose 18.9 percent year-on-year in the month, but interestingly, package tour visitors from India saw a sharp rise in the month, up 125.5 percent year-on-year… there were 107 hotels & guesthouses operating at the end of May 2017. The number of guest rooms increased by 13 percent year-on-year to 36,000, with 32 five-star hotels offering 22,000 rooms.
The second floor of the Resorts World Manila casino resort in the Philippine capital will no longer be used for casino activities, confirmed the property’s operator, after resuming gaming operations on Thursday. “We are bringing back the gaming operations on the ground and third floors of our integrated resort,” stated Kingson Sian. “The second floor will no longer be used for casino operations and will be utilised for other non-gaming purposes instead.”
Okada Manila parent company, Universal Entertainment Corp has announced elected a new board of directors on Thursday, and it appears the firm’s founder, Kazuo Okada is not on it… the company’s shareholders approved the new board at the 44th General Meeting of Shareholders, along with a “new executive officer system.”
After finally getting the green light from local regulators, the gaming facility would open before July 15. Imperial Pacific International Holdings (IPI) currently operates Best Sunshine Live- a temporary casino- in Saipan. The 140,000 sq ft gaming space will house 34 mass gaming tables, 198 slot machines, and 38 VIP gaming tables.
In just eight traumatic months, Crown Resorts Ltd.’s entire overseas strategy has unraveled. Investors haven’t had such a bad time. Some staff of the Australian casino operator in China were detained in October and this week convicted of illegally promoting gambling. Crown quit Macau, halted a Las Vegas project, scrapped a listing of offshore assets and closed most of its Asian offices. But the crisis also led to changes that sparked a bond and share rally at the company controlled by James Packer.
Casino games provider Yggdrasil has continued to expand its global footprint after agreeing a deal with Adjarabet, the largest online operator in Georgia. The agreement will see Yggdrasil games made available in the jurisdiction for the first time, while Adjarabet will also gain access to BOOST™, Yggdrasil’s in-game promotional tools which enhance gamification via missions, tournaments and social sharing.