Galaxy Beats the Odds

Galaxy Entertainment Group Ltd. has reported second-quarter earnings in Macau that increased 22 percent year-over-year, beating analyst forecasts. Adjusted EBITDA was HK$2.3 billion (US$297 million).

Published September 5, 2016

Silver Heritage Joins ASX

Asian casino operator Silver Heritage Group Ltd. started listing on the Australian Securities Exchange last week. The company initiated trading following an AUD25 million (US$18.8 million) IPO.

Published September 5, 2016

PAGCOR Officials Liable

Philippines government auditors have found five officers of the Philippine Amusement and Gaming Corp. liable for leasing a property that did not exist, including former CEO Cristino L. Naguiat...

Published September 5, 2016

Big Profits for Star Vegas

Donaco International Ltd. saw a big jump in net profits for the fiscal year that ended in June, posting AUD77.2 million (US$58.2 million). The positive numbers were driven by...

Published September 5, 2016

Gala Coral in the Red Pre-Merger

British bookmaker Gala Coral has seen losses accumulate ahead of its £2.2 billion merger with Ladbrokes. The slide has been traced to impairment costs on closed stores and early...

Published September 5, 2016

Duterte’s Next Target: Online Bingo

Philippine President Rodrigo Duterte (l.), who made waves during his first weeks in office by vowing to “destroy” online gambling and “destroy” the chairman of PhilWeb Corp., now has...

Published August 29, 2016

IP Posts Record Results on Saipan

Imperial Pacific International Holdings, which operates the only casino on the island of Saipan, has posted record growth in revenue and profits for the half-year ending in June. The...

Published August 29, 2016

Daiwa Downbeat on Cotai Openings

Daiwa Securities says Wynn Resorts and Sands China may not get meaningful lifts from the opening of new resorts on Macau’s Cotai Strip. Last week Steve Wynn’s $4.2 billion...

Published August 29, 2016

Coming Soon: Cebu Casino

Philippine farm product distributor Calata Corp. has teamed up with U.S.-based Sino-America Gaming Investment Group to develop a casino resort on Mactan, connected by bridge to the holiday island...

Published August 29, 2016

Proposed Betting Rules Under Fire in Vietnam

The country’s Finance Ministry has a plan to legalize sports betting in hopes of putting the illegal industry out of business. But critics say it won’t work. For...

Published August 29, 2016

Indian State Lobbies for Casinos

The Indian state of Karnataka, which bans all forms of gaming including lottery sales, is now weighing the benefits of offshore casinos as a way to stoke tourism.

Published August 29, 2016

MGM-Ho Deal Confuses Analysts

MGM Resorts has announced that it will acquire a greater stake in MGM China, and trade 4 million shares in the U.S. parent to MGM China CEO Pansy Ho...

Published August 22, 2016

PhilWeb’s Downward Spiral

PhilWeb shareholder Roberto Ongpin (l.) announced last week he would sell his stake in the eGaming firm to keep President Rodrigo Duterte from forcing its closure. Then Ongpin decided...

Published August 22, 2016

Mystery Buyer for Savan Vegas

The European/Asian Consortium, a group that claims affiliation with a global gaming operator, says it has submitted a bid for the Savan Vegas Hotel and Entertainment Complex (l.) in...

Published August 22, 2016

Ho, Kangwon Land to Join Forces

Lawrence Ho’s Summit Ascent Holdings Ltd., developer of Tigre de Cristal (l.) in the Russian Far East, could partner with Kangwon Land Inc. of South Korea for future developments...

Published August 22, 2016

HCM City Project on the Rocks?

A $4 billion development project in Ho Chi Minh City with investors that include former Las Vegas Sands Corp. executive William Weidner may be going nowhere fast, according to...

Published August 22, 2016

Macau’s Loss is Cambodia’s Gain

Cambodian gaming operator NagaCorp Ltd. says its business has benefited from new restrictions on proxy bets and junket operations in Macau. NagaCorp runs NagaWorld in Phnom Penh.

Published August 22, 2016

Amax Could Sue Greek Mythology

A temporary closure of the Beijing Imperial Palace Hotel and the Greek Mythology Casino (l.) has sparked threats of legal action by Amax International Holdings. The casino operates under...

Published August 22, 2016

Goa Hikes Casino Tax

Land-based casinos in the Indian state of Goa will pay more in taxes as the government imposes the third rate increase in as many years. For example, a smaller...

Published August 22, 2016

IP Saipan Looks to Profitable First Half

Hong Kong-listed Imperial Pacific International Holdings, which posted a net loss of $21.8 million for the first half of 2015, is looking forward to better results for the first...

Published August 22, 2016