Casinos in Macau will register a drop of 16 to 18 per cent year-on-year in terms of Gross Gaming Revenues (GGR), the data accessed by news agency Lusa suggests. In relation to market share, Galaxy Entertainment Group will have the largest slice of revenue. Data related to gaming promoters MGM, Galaxy and Wynn indicate that for January there will be a drop ranging from 16 to 18 per cent year-on-year,
Monthly Archives: January 2015
Customs said that they had received a tip-off that some gaming project construction sites in Cotai are using counterfeited electrical supplies. Customs launched a raid and found 1,281 fake wiring duct and cable trays worth over MOP170,000 on the construction site as well as in an electrical supply shop in the Northern District.
The police say they have broken up a ring that used the China UnionPay payment system to make illegal transactions. … four mainlanders on suspicion of committing computer fraud… suspect that the ring made illegal cash back transactions worth over $16.33 million.
Macau casino operator Melco Crown Entertainment Ltd has announced that it will give all its employees, except managers, a bonus equivalent to one month’s pay. An internal notice also says the company will promote some 1,300 employees or transfer them to its new Studio City casino-resort.
Sri Lanka’s new government on Thursday scrapped generous tax concessions for foreign funded resorts and banned them from including casinos after opposition by the country’s influential Buddhist monks. Prime Minister Ranil Wickremesinghe said the government would pull with immediate effect tax breaks for three luxury resorts that had been given the green light to open in Colombo with high-end gambling houses. “We will not allow casinos on their premises,” the premier told lawmakers. The previous government led by Mahinda Rajapakse had introduced measures – including a five percent tax rate for the resorts – in a bid to turn the Sri Lankan capital into a gambling hotspot, despite resistance from Buddhist monks.
Chiang Mai police raided three online gambling dens and arrested 13 Koreans for allegedly operating them. About 50 immigration police officers simultaneously raided two houses … the raids netted 13 Koreans, 12 males and a woman, and seized 25 computer sets along with South Korean bank books with large amounts of money transactions… gambling website which had more than 10,000 customers.
Boutique casino operator Donaco International Ltd has agreed to acquire the Star Vegas Resort and Club casino property in Poipet, Cambodia, for a consideration of $360 million… Donaco is currently a one-property operator, running the Aristo International casino hotel in Lao Cai, in northern Vietnam. The vendor in the deal that was announced on Friday will manage the Star Vegas Resort and Club for a further two years post acquisition.
The fourth quarter results of Genting Singapore Plc may include positive surprises, according to two brokerages. The forecast is based on the performance of Marina Bay Sands casino resort during the same period… “Genting Singapore could report sequential growth in VIP, similar to Marina Bay Sands,” analysts Praveen K. Choudhary and Xin Jin Ling from Morgan Stanley Asia Ltd wrote. “We expect Genting Singapore to see 7 percent quarter-on-quarter growth in rolling chip,” they added… estimate Genting Singapore will post revenue of $680 million, an increase of one third compared with the year-earlier period. Earnings before interest, taxation, EBITDA up by 35 percent.
The bosses of Britain’s biggest bookmakers have urged the Government to extend advertising curbs across the industry as they seek to avoid “an unlevel playing field” with smaller rivals. Sky News has learnt that executives from Coral, Ladbrokes, Paddy Power and William Hill met Helen Grant, the Gambling Minister, on Wednesday to discuss recent progress on responsible gambling initiatives. Sources close to the talks said that at least one of the companies had asked Ms Grant to examine whether measures adopted by those attending the meeting should in future encompass the rest of the sector.
bwin.party PLC have announced that its net revenue and cash flow will be reviewed in 2015 due to new European Union (EU) VAT rules that came into action this January. The operator expects to pay an additional 15 million euros in VAT, due to recent changes EU tax regulations concerning digital business/services. Changes to EU VAT regulations concerning digital services, has seen EU member states tax businesses on where their consumers are located. The law changes came into effect on 1 January, member states have been allowed to place the tax upon businesses offering igaming services.