September 30, 2018 |
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September 29, 2018 |
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September 29, 2018 |
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For months, representatives of the gaming industry have marveled at how sports leagues, particularly the National Basketball Association, have made such great strides toward accepting sports wagering as mainstream entertainment.
September 28, 2018 |
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September 28, 2018 |
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Today a new record online jackpot was smashed when a lucky punter hit the Microgaming Mega Moolah Mega Jackpot for a gigantic $18,915,721 cash prize.
September 28, 2018 |
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The developer of the C2 casino, an interim facility in the southern Cypriot city of Limassol, says more than 175,000 people have visited the establishment since it opened on June 28, the Cyprus Mail newspaper reports.
C2 – a temporary outlet ahead of the main development, albeit the first licensed casino in Cyprus – was created by Hong Kong-listed Melco International Development Ltd, the parent company of Macau casino operator Melco Resorts and Entertainment Ltd.
The planned permanent resort – currently under construction – had a ground breaking ceremony on June 8 and is slated to carry the name City of Dreams Mediterranean when it opens, an event likely to be in 2021.
The online edition of the Cyprus Mail mentioned that the C2 Rewards Club loyalty programme had enrolled more than 13,000 members since the establishment opened.
The report quoted City of Dreams Mediterranean and Cyprus Casinos property president Craig Ballantyne as saying C2 had exceeded expectations in its first three months in business. Melco International leads Casino Resorts Cyprus Ltd, the consortium that runs C2.
Mr Ballantyne said C2 had become a “must-see destination for locals and tourists alike”.
“The three months of operation of C2 were successful and the results exceeded our expectations,” he added.
C2 has 600 square metres (6,458 sq feet) of floor space, of which 1,300 square metres is taken up by the gaming area. The gaming portion has 33 gaming tables and 258 slot machines, a VIP gaming area, a restaurant and two bars, the firm has previously stated.
The property is being developed by Melco International and a consortium of partners that controls 25 percent, including Cyprus Phasouri (Zakaki) Ltd, a Cyprus-based conglomerate. The City of Dreams Mediterranean will be the biggest casino resort in Europe.
Melco International said last week that it expected to open three satellite gaming facilities in Cyprus this year as permitted under its licence. They will be in Nicosia, Larnaca and Paphos. A fourth, at Ayia Napa, is due to launch next year.
September 28, 2018 |
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Two major entertainment brands began work Thursday on changing the face of live performance — and the Las Vegas skyline — with a ceremonial groundbreaking for the 18,000-seat MSG Sphere at The Venetian.
September 27, 2018 |
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PokerStars is previewing a virtual reality version of its online poker software in expectation of a commercial release in the future.
September 27, 2018 |
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Internet betting group Stride Gaming has set aside £4 million to pay a fine that it expects to be handed down by the UK Gambling Commission.
September 27, 2018 |
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September 27, 2018 |
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Japanese gaming tycoon Kazuo Okada (pictured) has asked the Philippine Stock Exchange to conduct what his side terms a “thorough” investigation into Philippine-listed Asiabest Group International Inc, for what he calls misleading disclosures about its proposed takeover by Hong Kong company Tiger Resort Asia Ltd.
Representatives for Mr Okada issued a written statement on Thursday, which reiterated an earlier request for the bourse to investigate the deal.
Mr Okada also released a letter from his lawyers to the stock exchange, dated September 21, telling it that supposedly comprehensive corporate disclosures by Asiabest should be considered “suspect and outright evasive” because they failed to mention Mr Okada’s pending intra-corporate suit against Tiger Resort Asia, a part of his effort to regain his interest in that company.
Philippine lawyers for Mr Okada said that were Asiabest to mention his complaint in its disclosures it would have an effect on the trading or market value of Asiabest securities. The attorneys added that pending cases should be included in stock exchange disclosures to warn the public about the possibility that the proposed agreement between Asiabest and Tiger Resort Asia could be nullified.
“Considering that the very validity of the transaction between Tiger Asia and Asiabest Group may be questioned, if not annulled, the pending case should have been disclosed especially in Asiabest Group’s ‘Comprehensive corporate disclosure on backdoor listing,’ and ‘Change in control issuer disclosure,’ both dated 20 September 2018,” Mr Okada’s lawyers wrote.
In his latest legal action, Mr Okada says he owns 34.41 percent of Tiger Resort Asia and a subsidiary, Tiger Resort Leisure and Entertainment Inc, which runs the Okada Manila casino resort.
Mr Okada asserts he was not consulted about the agreement for Tiger Resort Asia to buy two-thirds of Asiabest. The deal would see 200 million shares sold to Tiger Resort Asia, worth PHP646.6 million (US$11.9 million), in a transaction due to go through on November 12.
If permitted by the regulators, the deal would allow Tiger Resort Asia, which is controlled by Universal Entertainment Corp of Japan, to float in the Philippines equity in the operator of the Okada Manila resort.
In June last year, Mr Okada was removed from the board of Universal Entertainment and removed as chairman of Tiger Resort, Leisure and Entertainment. He was subsequently removed from Okada Holdings Ltd, a private company in Hong Kong and is taking legal action in Hong Kong to regain control of that organisation which in turn controls more than two-thirds of the stock of Universal Entertainment.
September 26, 2018 |
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Counter drones, security robots and gun detection technology were just of few of the items on exhibit at the five-day show dedicated to physical and cybersecurity. GSX, which attracts more than 20,000 industry professionals, ends Thursday.
September 26, 2018 |
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The gaming industry may get a better perception of how the National Football League feels about regulated sports betting Thursday when a House subcommittee conducts a hearing on whether the federal government should be involved in its oversight.
September 26, 2018 |
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September 26, 2018 |
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Just three resort property labor agreements remain unsigned after the Culinary union on Tuesday reported that it had reached a tentative deal with the Margaritaville casino at the Flamingo.
September 25, 2018 |
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September 25, 2018 |
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This month the Oregon Lottery launched a mobile betting app that will allow for players to participate in online lottery services, with the option for mobile sportsbetting in the future.
September 25, 2018 |
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Swedish casino game developer Yggdrasil Gaming has announced that they've released their newest video slot 'Wolf Hunters', which sees players tracking down werewolves for large cash bounties.
September 25, 2018 |
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September 24, 2018 |
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Swedish casino game developer NetEnt has announced that they've released their newest slot machine, Double Stacks, which brings a classic style game to player screens.
September 24, 2018 |
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AGS, the nation’s second-largest manufacturer of Class II slot machines used primarily in tribal jurisdictions, on Monday announced a three-year marketing partnership with the National Hockey League team.
September 24, 2018 |
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The Macau-produced casino industry trade exhibition and conference known as MGS Entertainment Show, has adopted a new name in Chinese for this year’s edition. In that language it is being referred to by a name that translates as the “2018 Macau Leisure Technology Show”.
The annual MGS event, first held in 2013, was originally known as the “Macao Gaming Show,” and was initially presented as a localised alternative to Global Gaming Expo Asia, a trade event usually held annually in May by Reed Exhibitions and the American Gaming Association, a casino industry trade body.
The renaming exercise for this year’s MGS marks its transition to a “more technology focused” trade show, said Jay Chun, chairman of its primary promoter the Macau Gaming Equipment Manufacturers Association (MGEMA).
Mr Chun, who is also the chairman of Hong Kong-listed gaming equipment and casino services firm Paradise Entertainment Ltd, made the remarks to media during a Monday press conference. It was called to preview MGS Entertainment Show 2018 – as it will be known in English – which is due to be held from November 13 to 15 at the Venetian Macao’s Cotai Expo.
The trade show is being jointly organised this year with China’s state-owned enterprises Nam Kwong Culture and Creativity Industry Co Ltd, and China National Machinery Industry International Co Ltd.
“Macau’s policy has been about diversifying,” said Mr Chun, referring to the local economy, which has been dependent on casino business. China’s central government has been encouraging change in that regard.
“We’re not only providing [a display] of gaming equipment to casinos, but also the show will feature non-gaming products, which have been increasingly sought after from many integrated resorts,” Mr Chun said during the press briefing. He added that e-Sports was an example of these non-gaming offerings.
“For the existing exhibitors, they welcome our change… their feedback has been positive and supportive,” Mr Chun remarked regarding responses he said the organisers had collected on the rebranding in Chinese of the trade show.
The non-gaming aspect of the event will include the three-day conference “Sina Global Digital and Entertainment Future Summit 2018”, an event that is to be held under partnership with China’s tech firm Sina Corp. The topics of the summit cover e-Sports, blockchain technology, so-called augmented reality – also known as AR – and virtual reality – known as VR – as well as intellectual properties of games.
The new partnership with the state-owned firms is for three years, according to Mr Chun. He added that both companies are specialists in organising exhibitions and conferences.
The 2018 event has so far had confirmations from more than 120 exhibitors according to information provided by MGEMA.
As in previous years there will be conference sessions. The major topics of MGS Summit 2018 include a review of the Macau gaming concessions, the business opportunities for so-called integrated resorts in Japan, and gaming equipment makers’ views on the Asian markets.
Paulo Martins Chan, the director of Macau’s casino regulator, the Gaming Inspection and Coordination Bureau, is scheduled to speak on a panel at the conference. The topic will be Macau’s public concessions for gaming and the session will be moderated by local legislator and scholar Davis Fong Ka Chio.
“For that session, we are also inviting some Macau lawmakers and consultants. It will be about their opinions and review [on Macau gaming industry] in the past 20 years, the related law and what needs to be modified,” Mr Chun said.
September 24, 2018 |
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Ainsworth Game Technology Ltd has announced its chief executive Danny Gladstone (pictured) will relinquish the post after June 30 next year.
The Australian maker of slot machines told the Australian Securities Exchange on Monday that Mr Gladstone would remain in the role until the company found a replacement, before transferring into another job with the company. The move will allow Ainsworth Game to retain Mr Gladstone’s experience and expertise concerning the industry.
The announcement quoted Ainsworth Game chairman Graeme Campbell as saying Mr Gladstone had driven the international growth of the company and its revenue. “Ainsworth is much stronger for Danny’s contribution,” Mr Campbell said. “We are delighted he will continue to assist us in the future.”
Ainsworth Game reported last month net profit of AUD31.9 million (US$23.3 million) in its financial year ended June 30. The result was 15.8 percent less than the previous year, on revenue of about AUD265.6 million. The company said sales were higher in its financial second half than in its financial first half.
The recent performance of Ainsworth Game helped its new owner, Novomatic AG of Austria, increase its earnings before interest, tax, depreciation and amortisation in the first half of this year to EUR318 million (US$370.9 million), 12.6 percent more than a year earlier.
September 23, 2018 |
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The Macau government expects to receive about 600 applications from casinos to have smoking lounges approved under a new set of technical standards, said the head of the city’s Health Bureau, Lei Chin Ion.
Mr Lei added that just 16 of Macau’s 39 casinos in operation had so far submitted applications to have smoking lounges approved in line with the new rules.
The 16 gaming venues that had filed paperwork on the matter had made an aggregate of 233 requests for approval of smoking lounges, Mr Lei told reporters over the weekend.
Among the 233 requests, 10 smoking lounges in two gaming venues have been approved by the city’s authorities.
The first smoking lounge application approval was announced in April. It was submitted by casino hotel Ponte 16, a joint venture between casino operator SJM Holdings Ltd and Success Universe Group Ltd.
Studio City, operated by Melco Resorts and Entertainment Ltd, was the second of two Macau casino resorts to have been granted approval for new-style smoking lounges in the local market, the Health Bureau said in August.
All Macau gaming venues wanting to continue to offer on-site smoking to patrons must apply to the local authorities to operate the new, higher-standard lounges, said to have better air extraction equipment than is mandated under the current regulatory regime. From January 1, 2019, only authorised, enhanced, lounges will be permitted in the local market.
Macau’s gaming operators have to submit by September 28 any applications for new smoking lounges, in order for such requests to have a chance of being approved before the city’s new regime on smoking is enforced in casinos on January 1, Mr Lei said.
He justified the September 28 deadline on the basis of how long it would take to inspect and approve the smoking lounges with enhanced technical standards, as such approval involved a total of three government departments: the Health Bureau, the Fire Services Bureau and the Land, Public Works and Transport Bureau.
Mr Lei added that the Health Bureau could not ensure applications for new smoking lounges filed after the September 28 deadline would be approved by January 1, 2019.
Macau’s Legislative Assembly passed on July 14, 2017 a revised bill on smoking that bans tableside tobacco use in VIP rooms – the only places in the Macau that were still allowing smoking at the gaming table. Although the new rules came into force on January 1, 2018, tableside smoking at VIP rooms will in effect be permitted until January 1, 2019, as casinos have been given a year’s grace period to set up smoking lounges for VIP players.
Under the revised law, all smoking lounges in casinos – including the existing ones set up on mass floors since the ban on free-for-all casino smoking – will also have to conform to enhanced technical standards.
September 23, 2018 |
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September 23, 2018 |
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Credit Suisse expects U.S. sports betting net revenues to surge to $4.5 billion by 2023 and continue climbing as legalization spreads. UK-based William Hill is in a very strong position to capitalize on the widening market.
September 23, 2018 |
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September 22, 2018 |
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September 22, 2018 |
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A bid to add sexual harassment prevention guidelines to state gaming regulations is shaping up to be a debate over whether existing federal harassment rules already provide enough oversight for the industry.
September 21, 2018 |
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Internet betting giant GVC Holdings has announced that they've managed to integrate the full slate of CR Games into their betting sites, coming months after GVC purchased Ladbrokes Coral.
September 21, 2018 |
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Police in the city of Cixi, in the mainland Chinese province of Zhejiang, have recently broken up a gambling ring that took bets through a website set up overseas, Chinese-language media from the mainland reported on Thursday.
The reports said the suspects were alleged to have earned illegal profits of CNY50 million (US$7.3 million) through accepting players’ bets on “online baccarat” games.
Since September 1, the police have caught 21 suspects believed to be involved in the alleged Internet gambling ring. This was the second such crackdown in Cixi this year, after the police detained 50 people in late March suspected of being involved in the same case of illegal gambling.
The latest media reports said the illegal online betting case was still being investigated. But the reports did not clarify whether the gambling website was related to casino proxy gambling. The latter refers to where a gambler not physically present in a casino designates a trusted individual as his or her proxy, which is allowed in some regulated gambling markets.
A Thursday report published by Chinese-language Legal Daily cited the police as stating that two alleged ringleaders were suspected to have a connection with a “baccarat gambling website” in the Philippines.
Last month, police in the province of Jiangsu disrupted an international gambling ring that took bets through a website set up in the Philippines. At the time, state-run news agency Xinhua said 50 suspects were arrested either in Shanghai, in the eastern Chinese province of Zhejiang, or in the southern provinces of Fujian and Guangdong, and that another six suspects were arrested elsewhere on the mainland after returning from the Philippines and surrendering to officials.
September 21, 2018 |
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Bill Hornbuckle, an MGM executive and one of the nine members of the Las Vegas Stadium Authority board, on Thursday said his company fears that its customers would be “choked out” by people wanting to park close to the stadium on event days.
September 21, 2018 |
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The state of New Hampshire took their lottery services online this week, becoming the sixth state in the union to offer online lottery games to their residents.
September 20, 2018 |
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Hong Kong-listed casino developer Melco International Development Ltd says three of its so-called “satellite casinos” in Cyprus are scheduled to commence operations in respectively Nicosia, Larnaca and Paphos later this year. Another satellite casino in Ayia Napa – a coastal town that is part of the Famagusta district – is scheduled to open for business “in the spring of 2019”, the firm said in its interim report filed on Wednesday.
In late July, Melco International announced that a Cyprus-based consortium headed by the firm was to open soon a satellite casino in the terminal building of Larnaka International Airport, near the port city of Larnaka on the south coast of Cyprus.
The gaming venue at Larnaka airport will operate approximately 50 gaming machines, according to the July announcement.
The Melco International-led consortium – called Integrated Casino Resorts Cyprus Ltd (ICR Cyprus) – received in June 2017 a 30-year casino licence from the Republic of Cyprus government. The initial single licence also allows the holder to build four satellite casinos.
ICR Cyprus launched on June 28 a temporary casino called C2 in the southern city of Limassol, in Cyprus, to cater to players until the City of Dreams Mediterranean casino resort (pictured in a rendering) is complete. The temporary casino is to remain open until 2021, when construction of City of Dreams Mediterranean – also located in Limassol – is forecast to be finished.
In its interim report, Melco International said the gaming venue at its temporary casino has 1,300 square metres (13,993 sq feet), featuring 33 gaming tables and 258 slot machines. The company said additionally that the venue welcomed “over 34,000 individual guests” during the first three weeks of operation, and that “more than 6,000 visitors” had registered as members of the C2 Rewards Club loyalty programme.
September 20, 2018 |
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Caesars Entertainment Corporation recently announced that it’s taking mobile sports bets in New Jersey via The Caesars Casino & Sports app.
September 20, 2018 |
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Casino game developer Play'n GO released their newest video slot 'Iron Girl', which brings with it an anime style, complete with giant mech.
September 20, 2018 |
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The move comes as companies and cities across the country begin to phase out single-use plastic straws; MGM Resorts International announced its own “Straw Reduction Initiative” in May.
September 19, 2018 |
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Internet gaming group ComeOn has announced the launch of their newest betting site Blitzino, which is set to target the German betting market.
September 19, 2018 |
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William Hill US has signed a partnership with the Vegas Golden Knights in the first deal between a sports book operator and a National Hockey League team.
September 19, 2018 |
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The gaming regulator in the Philippines has announced all licensed casino employees are now on that country’s national register of restricted gamblers, making it easier to prevent casino employees from gambling.
The Philippine Amusement and Gaming Corporation (Pagcor) made the announcement in a circular dated September 6 and said the change would be effective from September 10.
The Pagcor memorandum reminds all casino operators that the rules prohibit their employees from gambling in any gaming establishment in the country. An employee of a Philippine casino must hold a licence to work in the gaming industry.
The memorandum says the names of licensed employees, as well as other information about them, will be kept in a database that lists people banned from gambling in gaming establishments, the National Database of Restricted Persons. The database is accessible online, so casino operators can identify and refuse admittance to any gaming industry employees wishing to gamble.
Pagcor runs its own casinos as well as regulating gaming. It often releases circulars to remind operators of their obligations, such as threatening closure of premises if people under the age of 21 are found to be gambling there.
September 19, 2018 |
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Swedish betting group NetEnt is diversifying its business interests as they announced that they're launching an affiliate business, which will see the company earning commissions from casinos that the group promotes.
September 18, 2018 |
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September 18, 2018 |
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The Macau government has yet to consider whether to make it compulsory for local casinos to suspend operations when Typhoon Signal No.8 or above is hoisted by the local weather bureau. So said on Monday the city’s Secretary for Security, Wong Sio Chak (pictured), during a briefing on the work carried out by the local authorities in preparation for, and response to, the impact of Typhoon Mangkhut.
The precautionary closure of all casinos from late Saturday until Monday morning due to the passage of Typhoon Mangkhut followed an agreement between the Macau government and the city’s six casino operators. The blanket suspension of casino operations was unprecedented in Macau.
The World Meteorological Organisation has described Mangkhut as the strongest tropical cyclone anywhere in the world so far this year.
Mr Wong said the citywide suspension of gaming operations and the closure of mainland-Macao boundary crossings significantly lowered the traffic load during the most intense period of the powerful storm, ensuring the safety of the general public, of visitors to Macau and of casino employees.
He added that the government was yet to consider whether to make it a rule for casinos to suspend operations when Typhoon Signal No.8 or above is hoisted. Mr Wong noted that currently there were no regulations on this matter.
The blanket suspension of operations in the city’s casinos during Typhoon Mangkhut was “a good example” showing casino operators and the government share the common goal of ensuring the safety of gaming workers, Mr Wong added.
The Macau government proposed in June that the city’s top official could order the ad-hoc closure of casinos in case of an emergency or disaster. The measure would allow a serving Macau chief executive to order the suspension or cancellation of casino operations if a venue was either in a part of the city deemed unsafe; or if members of the public might otherwise be put at risk were operations to continue.
The proposal was part of an overhaul of Macau’s civil protection system, following last year’s Typhoon Hato. It was included in a document put to public consultation.
Typhoon Hato struck the city on August 23, 2017 with wind speeds of 200 kilometres per hour (124 mph), leading to 10 deaths in the city and widespread damage to infrastructure that disrupted the city’s tourism industry for more than a week afterwards.
Some casino worker groups have been calling for some years for the city’s casino employees to be exempted from work when Typhoon Signal No.8 or above is hoisted. Many public service workers are excused workplace attendance in those circumstances.
Some of Macau’s most outspoken labour groups have praised the blanket suspension of operations in the city’s casinos during Typhoon Mangkhut.
Macau’s gaming law requires casinos to be opened daily. But it allows operators to suspend operations in “exceptional” situations, upon government approval. Such approval can be waived in the face of a disaster, serious accident or situations that pose a risk to public safety; in those cases, operators should inform the government of the suspension as soon as possible.
September 18, 2018 |
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Live dealer casino specialist Evolution Gaming has announced that they've inked a deal with Les Ambassadeurs Club, which will see Evolution working a studio within the location.
September 18, 2018 |
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Several months after its casino building closed, the Lucky Dragon’s hotel tower could soon be shuttered too.
September 17, 2018 |
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September 17, 2018 |
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Macau’s main casino properties were all back to business as of Monday morning, following the end of a government-ordered blanket closure of the city’s gaming sector due to a “super typhoon” called Typhoon Mangkhut.
Casinos had been allowed by the Macau government to resume operations on Monday, from 8am onwards, after Typhoon Mangkhut – the world’s most powerful storm so far this year – struck the city over the weekend.
Casino operations had been paused at 11pm on Saturday, according to a government release that day.
On Monday morning, GGRAsia visited the city’s main casino properties, and all had already resumed operations. Visited casinos included: Galaxy Macau in Cotai and StarWorld Hotel in downtown peninsula, both run by Galaxy Entertainment Group Ltd; Venetian Macao, Sands Cotai Central and Parisian Macao in Cotai, and Sands Macao on the peninsula – all run by Sands China Ltd; Cotai properties City of Dreams Macau and Studio City, promoted by Melco Resorts and Entertainment Ltd; MGM Macau in the peninsula and MGM Cotai, run by MGM China Holdings Ltd; Wynn Macau in the peninsula and Wynn Cotai, operated by Wynn Macau Ltd; and Grand Lisboa and Hotel Lisboa in the peninsula, promoted by SJM Holdings Ltd.
In an emailed reply to GGRAsia, a spokesperson from Wynn Macau Ltd confirmed that the firm’s two casinos had both resumed operations at 8am on Monday.
Both MGM Macau and MGM Cotai had also resumed “normal operations” on Monday, a MGM China representative told GGRAsia.
All Melco Resorts properties – including City of Dreams, Studio City and Altira – had also “resumed normal operations” on Monday, a company spokesperson said.
Buddy Lam, senior vice president of public relations for Galaxy Entertainment, told GGRAsia the firm “started resuming gaming operations gradually at our properties from 8am today [Monday], and under close coordination with the relevant authorities.” He added: “It went very smoothly.”
GGRAsia also contacted SJM Holdings and Sands China regarding resumption of their respective casino operations following the landfall of Typhoon Mangkhut, but we had received no reply by the time this story went online. We also asked each casino operator about damages caused by the storm on their respective casino properties; only MGM China, Melco Resorts and Galaxy Entertainment provided feedback on the matter.
“We are making assessment on some damages but none of which will affect our operations,” the MGM China representative stated.
“Our teams were fully prepared to deal with the effects of Typhoon Mangkhut…Our properties recorded minimal external damages, and repairs are expected to be completed within the next few days for minimal disruption,” the Melco Resorts spokesperson told GGRAsia in an emailed statement.
As for Galaxy Entertainment’s properties, “no significant damage and most importantly, no serious injuries have been reported,” stated senior vice president Mr Lam in an email to GGRAsia.
Ground checks by GGRAsia detected some minor damages in some of the city’s casino resorts, including a few broken windows in the Encore tower of Wynn Macau in the peninsula, and in Studio City in Cotai. There were also some fallen trees around Galaxy Macau in Cotai (pictured).
GGRAsia approached the city’s casino regulator, the Gaming Inspection and Coordination Bureau, for comment on whether all gaming venues in Macau had already resumed operations following the end of the government-ordered blanket closure. We did not receive any reply by the time this story went online.
September 17, 2018 |
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This week gambling group EOSBet had their Ethereum "DApp" hacked for 40,000 EOS cryptocoins ($200,000 USD) when hackers exploiting vulnerabilities in the app's smart contracts.
September 17, 2018 |
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Paradise Segasammy Co Ltd, the operator of the Paradise City casino resort in the South Korean city of Incheon, expects the second phase of the scheme to attract 4.8 million visitors to the development within a year, Yonhap reported.
The South Korean news agency added that the firm’s sales target for the new facilities next year is KRW500 billion (about US$445 million).
The first phase of Paradise City (pictured), comprising the casino, a hotel and a convention centre, opened in April last year.
In its first year the casino-resort attracted 1.2 million visitors.
No South Koreans are admitted to the casino.
The second phase, which opens this week, comprises a second hotel, a spa, a club and a shopping arcade.
The South Korean news agency quoted Paradise Segasammy chief executive Park Pyung-yong as saying: “We will emphasise the entertainment aspect through our second-phase opening, becoming a key tourism landmark of South Korea.”
The comments were made in a press conference at the resort on Thursday.
Yonhap reported Paradise Segasammy was making efforts to attract visitors from countries other than China, in view of signs that fewer Chinese than before are visiting South Korea.
Government data quoted by Yonhap indicate that the number of visitors to foreigners-only casinos in South Korea fell for the third year in a row last year because of a Sino-Korean political dispute. The 16 casinos reserved exclusively for foreigners, attracted 2.22 million visitors last year, 6.2 percent fewer than the year before.
The number of Chinese tourists visiting South Korea rose to 410,337 in July, 45.9 percent more than a year earlier. But the amount of growth was due to the low base figure last year, and the total in July this year was well below the tally of 917,519 in July 2016.
Yonhap quoted Paradise Co Ltd executive Park Jong-hoon as saying: “We don’t think the number of Chinese visitors will increase quickly in the near future. Yet we expect the upcoming opening will vitalise our marketing and attract more VIPs.”
South Korean resort operator Paradise Co and Japanese maker of slot machines Sega Sammy Holdings Inc started the KRW1.5 trillion casino resort project in 2011 and formed their Paradise Segasammy joint venture the following year.
September 16, 2018 |
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September 16, 2018 |
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Saturday’s seemingly unprecedented blanket closure of Macau casinos due to a “super typhoon” called Typhoon Mangkhut, as well as associated disruption to public transport, probably shaved at least 500 basis points off the annual growth rate of September’s gross gaming revenue (GGR).
So said a note issued on Sunday evening by analyst Grant Govertsen, of brokerage Union Gaming Securities Asia Ltd.
“Given that the blanket casino closure happened on an all-important weekend day, which typically generates significantly higher GGR than a weekday, we expect that somewhere between MOP1.1 billion [US$136.2 million] and MOP1.5 billion in GGR will be lost,” wrote Macau-based Mr Govertsen.
Referring to the fact that the whole of what should have been Sunday casino operations was lost to Typhoon Mangkhut, the analyst stated: “We estimate this could impair September’s GGR growth rate by 500 to 700 basis points.”
When this story went online, the timing for resumption of gaming operations had not been announced.
Union Gaming said that following the major typhoon it was lowering its September GGR growth forecast to somewhere in the range of 7.7 percent to 9.3 percent, from 14.7 percent previously.
Deutsche Bank Securities Inc shaved a whopping 11 percentage points off its September GGR growth estimate in a Sunday note, bringing it down to 3 percent year-on-year from 14 percent.
“Given the loss of Saturday night/Sunday and what are likely to be disruptions over the course of the next several days, depending on damage and ease of travel in the coming days… Accordingly, our September GGR forecast has been reduced to +3 percent from +14 percent,” wrote analysts Carlo Santarelli and Danny Valoy.
Deutsche Bank also gave some colour on what it understood were the the circumstances of Saturday night’s blanket closure of Macau casinos.
Messrs Santarelli and Valoy stated: “We understand that the concessionaires were notified by the DICJ [Macau's gaming regulator] only shortly before the 11pm closure. We believe the limited notification window is important, as it likely means those who came by ferry were unable to leave by boat, while the window to leave before the 1am border gate closings was also limited. Accordingly, we believe the hotels remained largely full Saturday night through Sunday, though gaming areas were not functional.”
Union Gaming’s Mr Govertsen noted that taking the third quarter as a whole, Typhoon Mangkhut was “likely to have up to a 200 bps impact on the growth rate, and we now estimate 12 percent growth instead of 14 percent”.
The analyst further stated, referring to another huge storm called Typhoon Hato in August 2017: “For the second time in just over one year, Macau has taken a virtually direct hit from a super/severe typhoon. Fortunately, it appears that the city has come out the other side in much better shape after Mangkhut relative to last year’s Hato.”
The Macau government said in a Sunday evening press release that 20,000 households were without power at that stage, due to flooded power transformer stations in some low-lying areas.
Macau’s Chief Executive, Fernando Chui Sai On, urged officials at a meeting on Sunday afternoon of the city’s Civil Protection Operations Centre to ensure the local electricity utility restored power supply as quickly as possible.
In August, the government said work had been stepped up to strengthen the stability of the power supply during adverse weather, including attempts to flood proof certain parts of the electricity grid infrastructure.
September 16, 2018 |
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September 15, 2018 |
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The gaming industry has come a long way since Nevada blazed a trail more than a decade ago for gambling with real money over the internet.
September 15, 2018 |
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The Macau authorities announced late on Saturday the blanket suspension of operations in the city’s casinos ahead of Typhoon Mangkhut, a storm expected to reach category 10. Casino operations were paused from 11pm on Saturday, according to a release.
It is understood to be the first time in the modern era of public gaming concessions that the city’s casinos were told by the local authorities to suspend their operations.
A government release stated that Macau’s Civil Protection Operations Centre would advise later when the city’s casino operators might resume their respective gaming businesses.
The government said the city-wide suspension of gaming operations aimed to protect the safety of casino employees, visitors, and the city’s residents.
The World Meteorological Organisation has described Mangkhut as the strongest tropical cyclone anywhere in the world so far this year.
Last year during the category 10 Typhoon Hato, the Macau casino industry’s pause was by default – on a venue-by-venue basis – across the local industry, depending on the level of damage each venue experienced, and its respective access to off-grid sources of power and water.
Saturday’s pause in city-wide casino operations was ordered by Macau’s Chief Executive Fernando Chui Sai On, ahead of Signal No. 8 likely to be hoisted at 2am on Sunday. The city’s border crossings to and from mainland China were to be closed at 1am on Sunday. Ferry services to and from Macau were suspended at 10pm on Saturday.
Saturday’s city-wide suspension of gaming followed debate within the government about the need to have a mechanism for decision-making related to exceptional weather.
Another press release issued earlier on Saturday by the local government indicated there were currently no specific provisions within the legal framework for the city’s casinos allowing for blanket closure of casinos.
A meeting on Wednesday involving several government departments – including the Gaming Inspection and Coordination Bureau – indicated that the government would consider the safety of people inside casino resorts before deciding on a citywide suspension of casino business in the event of “typhoon or adverse weather”.
The government said that Macau casino resorts provided from Saturday – without charge – an aggregate of 2,770 parking spaces for private vehicles, in order to fulfil public demand for safe parking during the typhoon period.
Several of the 10 deaths that occurred during Typhoon Hato in August last year happened in underground car park areas.
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