MGM Resorts Japan has committed to covering Osaka’s infrastructure expenses in lengthening its subway system to Yumeshima Island. The US-based casino company’s subsidiary is spearheading the group’s integrated resort (IR) development efforts in the East Asia country, MGM Japan and its IR partner Orix Corporation have pledged JPY20.25 billion (US$175 million) to extend the Osaka […]
China continues to proclaim that individuals and groups involved in the illegal facilitation of cross-border gambling will be targeted in 2022 and the years ahead. Gambling is mostly illegal everywhere in China other than in Macau, one of two Special Administrative Regions (SARs) in the People’s Republic. The two exceptions are China’s state-run lotteries — […]
Sands China — the Macau arm of Las Vegas Sands (NYSE:LVS) — may resume paying dividends in 2024. But the payout returning prior to that is unlikely. That’s the sentiment of Bernstein analyst Vitaly Umansky, and it arrives a day after Standard & Poor’s (S&P) cut its credit rating on LVS and Sands China, sending […]
Standard & Poor’s (S&P) stripped Las Vegas Sands (NYSE:LVS) of its investment-grade credit rating, citing a slow recovery in Macau this year. The ratings agency lowered its grades on LVS and the operator’s Sands China unit to “BB+,”or one notch into junk territory, from “BBB-.” S&P maintains a negative outlook on the gaming company’s debt […]
Hong Kong police have arrested a popular influencer for gambling online and promoting an online sportsbook. She faces up to seven years in jail and a fine but is currently out on bail. If you’re a popular social media influencer with a significant following, it’s probably not a good idea to upload posts while you […]
For years, Osaka has been pursuing an integrated resort (IR). But as costs continue to soar and with the host city now expecting to be on the hook for approximately $1.37 billion, much opposition is arising. Osaka city councilmembers who align with the Liberal Democratic Party (LDP) proposed holding a citywide ballot referendum to gauge […]
Despite a return to business following COVID-19, two casinos in Nepal still haven’t caught up on outstanding royalties. Both are being shut down by the government. A collection of casinos in Nepal have racked up a bill worth around $16.5 million in unpaid royalties, according to the Kathmandu Post. Some have already closed their doors […]
Wakayama has provided a new update on its plans to bring an integrated resort (IR) to the Japanese prefecture. It has confirmed the involvement of Caesars Entertainment and is now ready for more public input. Earlier this week, leaders in Wakayama received an update on how the prefecture’s IR concept could develop. Clairvest Group will […]
Star Entertainment says a review of its employee compensation structure has determined inadequacies for some workers. As a result, the publicly traded Australian casino group will pay approximately AU$13 million (US$9.27 million) in back wages, interest, and retirement fund contributions. Star Entertainment is the second-largest casino operator in Australia, behind Crown Resorts. The Star Sydney, […]
Imperial Pacific International (IPI) has lost another CEO. The casino operator behind the Imperial Palace in Saipan is parting ways with Ray Yumul following his resignation. Ray Yumul recently dug his own grave. The Commonwealth of Northern Mariana Islands (CNMI) has been reviewing IPI’s activity and discussing its ability to hold a casino license. The […]
There are still a lot of unanswered questions regarding Japan’s integrated resort (IR) industry. Tokyo is taking a step toward possible involvement, while Osaka’s exploding cost estimate is raising more flags. Tokyo has always received a lot of support as an ideal candidate to host an IR in Japan. The city already receives significant international […]
Police in Hong Kong raided an illegal gambling operation on Wednesday night. It ended in the worst way for two individuals who fell 10 stories while trying to escape. Hong Kong police descended on an industrial building in Kwun Tong, Hong Kong Wednesday night, according to reports from The South China Morning Post. Police were […]
