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GGRAsia – Fitch downgrades Universal Ent on liquidity risks

GGRAsia – Fitch downgrades Universal Ent on liquidity risks
ggrasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ggrasia.com Daily Mail and Mail on Sunday newspapers.

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GGRAsia – Philippines 1Q casino GGR up 19pct sequentially: Pagcor

The Philippine casino sector produced PHP25.74 billion (US$536.2 million) in gross gaming revenue (GGR) in the first quarter this year, according to data released earlier this week by that country’s gaming regulator. The figure excludes revenue from bingo operations and from electronic game parlours.
The GGR tally for the three months to March 31 was down 43.9 percent in year-on-year terms, showed the Philippine Amusement and Gaming Corp (Pagcor), an operator of public-sector casinos as well as the regulator and licensor of private-sector venues. The overall GGR figure however was up by 19.0 percent in quarterly terms.
Commercial casinos linked to Entertainment City, a special development zone for gaming resorts in the capital Manila, produced just below PHP21.12 billion in GGR in the January to March period, down 37.7 percent compared with the prior-year period, but a sequential increase of 25.0 percent. ....

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GGRAsia – Pagcor boss says 3 Manila IRs start online play: report

The head of the Philippine casino regulator reportedly said in an online forum that three integrated resorts (IRs) in Manila had “started” online play for table games and slots.
The comments of Andrea Domingo (pictured in a file photo), the boss of the Philippine Amusement and Gaming Corp (Pagcor), reported by the Philippine Star newspaper, didn’t clarify if those games were purely digital or whether live streaming of live-dealer table games was involved, or whether such play was available only to domestic players or to overseas ones.
But it did directly quote her as saying Solaire Resort and Casino, run by Bloomberry Resorts Corp; Resorts World Manila, run by Travellers International Hotel Group Ltd; and Okada Manila, run by a unit of Japan’s Universal Entertainment Corp, were all running “online table games and slot machines”. ....

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GGRAsia – More guest rooms top priority for Okada Manila: parent

Japanese gaming conglomerate Universal Entertainment Corp says adding guest rooms at its Okada Manila casino resort in the Philippine capital is its “highest priority” for that venue. That is according to the English version of Universal Entertainment’s annual report for 2020, made available on the company’s website on Wednesday.
“Currently, adding… guest rooms is the highest priority of Okada Manila,” the document stated.
It also said there were plans for “expansion of the gaming area, including the addition of a casino exclusively for VIP guests,” and for “opening more restaurants, and enlarging the shopping mall in order to attract an even larger number of guests”. ....

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GGRAsia – Okada Manila authorised by Pagcor to provide online gaming

Universal Entertainment’s subsidiary Tiger Resort, Leisure and Entertainment Inc operates the Okada Manila casino resort (pictured).
Universal Entertainment said in a filing on Monday to Jasdaq that Tiger Resort had received on 19 April a letter from the Philippine Amusement and Gaming Corp (Pagcor) approving the firm to enter into online gaming. Universal attached the regulator’s letter to its filing.
“The system is scheduled to go into operation after clearing various conditions, such as confirmation of compliance with casino regulations and test simulations, including proper collection of casino licence fees and anti-money laundering [regulations],” said Universal Entertainment.
The company added that Okada Manila was “the first among the four integrated resorts comprising Entertainment City in Metro Manila” to receive such authorisation. ....

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