Silver Heritage Group Ltd said on Monday it recorded an adjusted EBITDA loss of US$1.9 million… total revenue of US$4.7 million in the first three months of the year, with a “growing” contribution from Tiger Palace Resort Bhairahawa, a new Nepal property near the country’s border with the Indian state of Uttar Pradesh.
Monthly Archives: April 2018
Macau Legend Development Limited announced this Friday evening that it has completed the sale of The Landmark Hotel. The board of the company owned by local businessman David Chow Kam Fai informed in a release at the Hong Kong Stock Exchange that ‘all the conditions precedent under the disposal Agreement have been fulfilled and the completion took place on 27 April 2018 in accordance with the terms and conditions of the Disposal Agreement’.
MGM China recorded total revenue of HK$4.7 billion in the first quarter, a year-on-year growth of 26 percent… Adjusted EBITDA was up by 4 percent to HK$1.3 billion. Adjusted EBITDA margin was 27.4 percent.
Shares in Chinese companies offering online and mobile poker games have shed up to a fifth of their value over the past week, following reports in local media that the government would ban all poker-related applications from June 1. Companies like Boyaa Interactive and Our Game have seen their stocks slide up to 18 percent since the informal directive from the country’s ministry of culture was reported in local media on April 19.
A U.S. $400 million project is taking shape in the North of Moín, Limón, Costa Rica at the entrance to the Tortuguero Canals under the name “Casino City Caribe”. The tourism project will consist of three hotels with a total 264 rooms, three casinos, 219 apartments, two convention and cultural centres with capacity for 150 people a full service marina and a helipad.
Scientific Games has had a busy time of it lately, with two launches within a week of each other for sports betting platforms. The latest is being provided for Swisslos, the lottery which covers the German and Italian speaking regions of Switzerland. Earlier in the week, Scientific announced the rollout of a technology to service the Hungarian National Lottery, Szerencsejáték Zrt. The company seems to be continually expanding, and this reporter is confident we can expect more newswires in the future.
The fantastically named Danish gambling regulator Spillemyndigheden made waves this past week when it announced, in its annual report for 2017, that online gambling revenue in Denmark had finally exceeded the total coming in from land-based gaming ventures. Online gambling revenue was reported to have made up a total of 51.5% of all gambling revenues in 2017, as compared with 47.4% during the previous year… €1.2 billion in total revenue across fiscal year 2017.
Austria-based gaming equipment maker Novomatic AG on Friday reported revenue of approximately EUR2.53 billion (US$3.07 billion) for 2017, up 11.1 percent year-on-year compared to EUR2.27 billion achieved in 2016. Novomatic said the 2017 tally was the highest annual revenue the company had recorded in its 37-year history. Annual net profit however declined in 2017, dragged by one-off items, it added.
The governance of FTSE 250 gambling firm Rank Group Plc has this morning confirmed the appointment of John O’Reilly as Chief Executive Officer, replacing outbound Henry Birch as its corporate leader. A 25-year industry leadership veteran, John O’Reilly joins Rank from William Hill Plc, where he served as Non-Executive Director (2017-2018).
It has been announced that the private equity funds managed by Blackstone will be taking over one of the world leaders in gaming and leisure activity and the first Spanish company in the sector, Cirsa. Based in Terrassa, Spain, Cirsa is a gaming operator, with bingo halls, casinos, arcades, and slot machines in more than 70 countries. It reported an EBTIDA of about $500M in 2016.