Macau junket investor Amax Holdings Ltd, in July described by auditors as facing “material uncertainty” as a going concern, is to raise HK$9.46 million (US$1.22 million) gross just under HK$ HK$9.32 million net of fees from a share placement. A total of 11 million shares at 86 HK cents each are going to an unidentified subscriber, according to a Hong Kong regulatory filing. The deal represents slightly more than five percent of Amax’s existing share capital and 4.82 percent of its capital as enlarged. Amax had losses for year ending March 31 of approximately HK$39.38 million.
Monthly Archives: August 2013
Mocha Clubs a unit of Melco Crown Entertainment Ltd that runs slot machine parlors in Macau has announced plans to ‘remove’ one of its outlets from a residential area. But in reality the ‘new’ site is only meters across the road from the existing one. It raises questions about whether the move really follows the spirit of the government’s updated regulations aimed at curbing irresponsible gambling among locals. Mocha Marina Plaza is currently in a mixed commercial and residential development known as Edifício Marina Plaza, in Rua de Pequim in downtown Macau. The parlor’s proposed new home across the road and also in Rua de Pequim is Centro Comercial Kuong Fat, a commercial and office property.
Gaming-to-plantations conglomerate Genting Bhd reported a 12.7 percent drop in quarterly profit, as weaker palm oil sales and lacklustre contributions from its Malaysian and Singaporean casinos weighed. Second quarter net profit to June 30 fell to 466.3 million ringgit ($139.84 million)from 534.5 million ringgit in the same period a year ago, the company said in a statement to the Kuala Lumpur stock exchange… Genting also said in the statement its Singapore unit Genting Singapore is monitoring gaming developments in Japan and is prepared to invest in an integrated resort when the opportunity arises.
The “outstanding” performance of hotel-casino Lan Kwai Fong, fuelled by a focus on mass-market gaming, drove up the profits of China Star Entertainment Ltd… first-half profit rose by 44.5 percent from the first six months of 2012 to HK$60.8 million (US$7.8 million). China Star’s revenue increased by 20 percent to HK$713.1 million… The casino’s performance was “encouraging” as it “spend resources” to expand its mass-market share and “targeted the high end customers in the mass table gaming,” China Star wrote.
Casino-hotel Ponte 16 posted an annual increase of 25.7 percent in EBITDA, in the first six months of this year. The property’s EBITDA reached $23.1 million.
Melco International Development Ltd made a net profit of $74.39 million in the first half of this year, 41 percent more than a year earlier. … City of Dreams improved, with revenue up 24 percent to $2.44 billion.
Hong Kong-listed Paradise Entertainment Ltd posted revenue of $52.2 million in the first half of this year, 27.4 percent more than a year earlier.
Organizers of the second annual Social Gambling Conference have announced that this year’s schedule will be extended across two full days. SGC 2013 will again be taking place at Dexter House in London, on 6th-7th November 2013, and promises to feature a rich and varied selection of key expert speakers. With the social gambling market set to rocket to us$ 2.5 billion by 2015, opportunities within the industry are plentiful. The additional day will allow SGC delegates the opportunity to delve deeper into debates surrounding industry risks, social responsibility and regulation, keeping attendees informed of where social gambling is heading.
Gordon Taylor will remain as chief executive of the Professional Footballers’ Association despite claims he amassed substantial gambling debts… The PFA’s management committee confirmed Taylor will stay in his post and retains the union’s backing. “We have discussed this with him and he has our full support,” said the PFA in a statement issued on Thursday.
Gambling was the last thing on the minds of UK consumers in the month of July, according to the latest Gaming Sector Report from London-based digital marketing agency Greenlight. The firm says Google search data shows a sharp drop-off in gambling-related search terms during the third warmest July since records were first kept in 1910. Greenlight reports that the volume of gambling-related searches in July was 995,830, a 34% fall from June’s 1.5m tally. Casino-related searches accounted for 35% of the total, with sports betting not far behind at 31% followed by bingo (18%) and poker (16%).