May 14, 2021
Japanese gaming conglomerate Sega Sammy Holdings Incorporated has reportedly released its financial results for the twelve months to the end of March showing that its net profit had declined by 90.7% year-on-year to approximately $11.6 million.
According to a report from Inside Asian Gaming, the year-end figures included a fall of 24.2% year-on-year in net sales to about $2.54 billion alongside a drop of 76.3% in associated operating income to slightly above $59.8 million. The source detailed that these financials come a little over six months after the Tokyo-listed firm inked a deal to offload an 85.1% stake in its land-based arcades operating arm to local entity Global Entertainment Network for Dreams and Aspirations (GENDA).
May 13, 2021
In Australia and The Star Entertainment Group Limited has reportedly followed rival casino operator Crown Resorts Limited in agreeing to stop the use of junket firms in order to attract high-value foreign players to its New South Wales property.
According to a report from Inside Asian Gaming, the move from the Brisbane-headquartered company comes a little over four months after Crown Resorts Limited was refused a gaming license for its new Crown Sydney development owing to concerns that it may have been complicit in a slew of money laundering offenses tied to its own utilization of such junkets. The source detailed that this licensing decision from the New South Wales Independent Liquor and Gaming Authority could be revisited before the end of the year so long as the operator has implemented a number of recommendations earlier laid out by an independent investigation chaired by former New South Wales Supreme Court Judge Patricia Bergin.
May 5, 2021
In Macau and local casino operator SJM Holdings Limited has reportedly announced that it expects to ‘soft launch’ its new Grand Lisboa Palace property before the end of June in advance of conducting a full third-quarter premiere.
According to a report from Inside Asian Gaming, the Hong Kong-listed firm began work on the $5 billion Cotai Strip development in February of 2014 and hopes that the finished facility will provide stern competition to a host of nearby rivals including the $3.2 billion Studio City Macau venue from Melco Resorts and Entertainment Limited. The source detailed that the gambling-friendly Grand Lisboa Palace is set to debut offering around 300 hotel rooms before this complement is later expanded via the opening of a pair of in-house boutique hotels to 1,892.
May 4, 2021
In the Philippines and the giant Resorts World Manila and Solaire Resort and Casino properties have reportedly followed their neighboring Okada Manila venue in being officially licensed to offer online gaming to domestic punters.
According to a report from Inside Asian Gaming, the authorizations under the Philippine Inland Gaming Operator (PIGO) scheme were revealed by the Chairman and Chief Executive Officer for the nation’s Philippine Amusement and Gaming Corporation (PAGCor) regulator, Andrea Domingo. The source detailed that such licenses are to give the venues the ability to offer a wide range of iGaming entertainment including video slots and live-dealer games to afficionados in the Philippines that have first registered.
April 30, 2021
In New Zealand and casino operator SkyCity Entertainment Group Limited is reportedly hoping to raise up to $90 million via the launch of a new bond offer so as to boost its liquidity in the wake of the coronavirus pandemic.
According to a report from Inside Asian Gaming, the Wellington and Sydney-listed company is responsible for New Zealand’s SkyCity Auckland, SkyCity Hamilton and SkyCity Queenstown properties and recently spent in the region of $243 million to renovate its SkyCity Adelaide venue in Australia. The source detailed that the bond scheme also contains an up to $36 million over-subscription option and has been launched after the company was last spring forced to completely shutter its trio of domestic operations for just over seven weeks owing to concerns associated with coronavirus.