May 21, 2021
In Macau and the company behind the luxury The 13 hotel has reportedly issued a profit warning after informally revealing that it expects to record an around $122.3 million deficit for the twelve months to the end of March.
According to a report from Inside Asian Gaming, the move from Hong Kong-listed South Shore Holdings Limited came only a few hours after it requested that trading in its shares be suspended pending the official release of its latest annual financial results. The source detailed that the firm’s expected shortfall would uncomfortably join the $131.3 million loss it racked up for the preceding twelve-month period.
May 20, 2021
In the Philippines and the operator behind the Resorts World Manila property has reportedly released its first-quarter financial results showing a net deficit of about $23 million owing to the impacts of the coronavirus pandemic.
According to a report from Inside Asian Gaming, the revelation from Travellers International Hotel Group Incorporated comes after the firm’s Alliance Global Group Incorporated and Genting Hong Kong Limited parents de-listed the entity from the Manila bourse in October of 2019. The source also detailed that the company’s financials have been released as all casinos in the Philippines’ largest city remain closed due to a strict quarantine that was brought in from March 29.
May 19, 2021
In Macau and local businesswoman Angela Leong On-Kei (pictured) has reportedly become the sole owner of the 283-room L’Arc Macau venue after purchasing its Power Link Fortune Limited and City Honour Developments Limited parents.
According to a report from Inside Asian Gaming, Leong is the fourth consort of late Asian casino magnate Stanley Ho Hung-Sun and also serves as the Co-Chairman and Executive Director for local gaming giant SJM Holdings Limited. The source detailed that the 60-year-old entrepreneur completed the transaction for an undisclosed amount on Monday to moreover take control over the gambling-friendly property’s L’Arc Entertainment operating entity.
May 17, 2021
In Australia and the Chairman for Aquis Entertainment Limited has reportedly told investors that his firm continues to be interested in redeveloping its Casino Canberra property via a proposed makeover that could run to as much as $256 million.
According to a report from Inside Asian Gaming, the revelation came from Tony Fung Wing-Cheung during a conference call with investors to discuss his company’s latest annual financial results. The source detailed that the Sydney-listed enterprise is now planning to reengage with the Labour-led government for the Australian Capital Territory in hopes of ultimately being given permission to refresh the 26-year-old property.