Former chief prosecutor Ho Chio Meng was sentenced to 21 years of imprisonment. After hearing the verdict, Ho screamed “injustice” and that “he didn’t owe anything” before being removed from the court by three guards. Ho was sentenced of crimes for fraud, abuse of power, money laundering, false statements and a host of other alleged crimes. Ho was accused of 1,536 crimes, the highest number of crimes a local defendant has ever been accused of in a single trial.
Monthly Archives: July 2017
The Chairman of Macau Gaming Information Association (MGIA), has been found guilty of violating Macau’s privacy laws as well as failing to comply with a Judiciary Policy (PJ) order to delete information on gamblers who have incurred debts from the website Wonderful World… the PJ said Choi was also found guilty of defamation charges filed by one of his former employees.
With HK$300 million in hand as a deposit for the sale of The Landmark Hotel, and a further HK$160 million on its way in about three weeks time, Macau Legend Development [MLD] is confident in the sale of its asset. The sale, the second time the group has publicly sought a buyer for the property – including hotel, dining and conference facilities, casino and car parks – was announced on July 5.
Dishes with all the quality and creativity of fine dining with ingredients that people are familiar with will be on the menu that Graham Elliot is helping to design for the Coast restaurant that he will be overseeing at MGM Cotai.
The VIP areas of Macau’s casinos will soon be required to set up smoking lounges… will come into effect in January 1, 2018, Macau casinos will be given one year to install smoking lounges free of gaming in their VIP areas. All smoking lounges including the existing ones set up on mass floors will also have to conform to enhanced technical standards.
Macau-based casino operator Wynn Macau Ltd said on Friday that the company would pay a “special bonus” to employees, excluding senior management, equivalent to one month’s gross salary.
NagaWorld will be subject to an additional tax bill on its non-gaming operations, similar to the $16.6 million tax that was imposed last year. Ros Phirun, deputy director-general of the Finance Industry Department was quoted as saying that the operator will need to pay at least $16 million on their non-gaming operations “from now on and for every year”… NagaCorp posted a boost in net profit for the half year ended June 30, 2017 of US$150.6 million, a 20 percent year-on-year growth compared to 16H1.
When Japan’s parliament legalized casino gambling last year, it created a wave of excitement among casino operators and institutional investors. But sensitivities about gambling addiction have now focused the policy discussion on a concept known as responsible gaming. This is industry terminology for programs designed to deter customers with known gambling problems from entering casinos. Although well-intentioned, lawmakers are risking a litany of unintended consequences with these policies.
A merger between Australian casino operators Crown Resorts and Star Entertainment Group could deliver up to A$100 million (US$77.4 million) in cost synergies, according to Citi analysts… “merely speculation”, he believed a merger would bring enhanced operational scale and market share, cost synergy realization and improved growth outlook for Crown.
Malaysian casino operator Genting Group has sold its stake in Australia’s The Star Entertainment Group for A$235.2 million (US$181.9 million)… a net gain of $67.5 million on its investment. The Genting Group initially bought a 9.7 percent stake in The Star back in early 2012.