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DO SON CASINO DEEPER INTO DEBT
Poor performance of Do Son Casino in Vietnam could spark a rethink of Vietnam’s socialist-orientated market Vietnam - Casino operations
Haiphong’s Do Son casino has generated profits for nearly a decade, but in 2008 started incurring consistent losses totalling VND169bn (US$8m) by 2012. The news was released at a recent meeting on reviewing the five-year implementation of the Resolution of the 10th Vietnamese Central Party Committee meeting on continuing to ‘perfect a socialist-oriented market-based economy.’
PHILIPPINES – DOLPHIN SECURES SOLAIRE ORDER Entertainment Gaming Asia’s Dolphin subsidiary has secured a major reorder to supply its gaming chips and plaques to Bloomberry Resorts’ Solaire Resort and Casino in the Philippines. Dolphin was the supplier of gaming chips for Solaire’s Phase 1, which opened in March 2013, and has now been selected to supply both gaming chips and plaques for its Phase 1A expansion, which is expected to open in the third quarter of 2014. The order is valued at US$700,000 in revenue, which the company expects to record in the third quarter of 2014.
Solaire, a premier integrated resort, is the first property to open in the Entertainment City casino and tourist complex in Manila Bay, Philippines. Solaire’s Phase 1 features approxi- mately 200,000 square feet of gaming space, approximate- ly 500 hotel rooms and suites, restaurants, entertainment amenities and conference facilities. Phase 1A will include a new 300-suite hotel tower, an expanded gaming floor, addi- tional restaurants and a retail promenade.
Panos Makridis, Senior Vice President Gaming Products of Dolphin Products, said: “We believe this reorder, which includes both gaming chips and plaques with a range of Dolphin’s high-level security features, further strengthens our relationship with this prominent customer and demon- strates their acknowledgment of the superior quality of Dolphin’s chips and plaques and their value for the money.”
AUSTRALIA – EGT APPOINTS NEW ASIA DISTRIBUTOR Euro Games Technology (EGT) has signed a distribution agreement with Indo Pacific Gaming (IPG) who will handle the areas of India, the Philippines, Myanmar, Cambodia, Laos, Vietnam and Malaysia. With 12 years of experience, EGT is known as one of the fastest growing companies on the gam- ing market. EGT manufactures gaming equipment and offers a dedicated service to its customers. Currently, the wide range of EGT products are operated in more than 65 coun- tries in Europe, Asia, South America and Africa.
IPG has been in business since 1989. The leading Asian gaming company is a multi-product distributor and operator in the Australasian and emerging markets. Through excep- tional customer service and superior technical support, IndoPacific gaming is a well-trusted and respected gaming equipment supplier and gaming operator to International casinos and cruise ship operators.
Stanislav Stanev, EGT Sales and Marketing Director, said: “We are confident that our partnership in Asia will provide exclusive service for EGT customers in Asia by offering our ever expanding line of products as well as effective and prompt support. IPG is a company with traditions in the gam- ing industry and I believe that our agreement will soon result in excellent outcomes.”
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The report states that Do Son casino, licensed in 1992 as Vietnam’s pilot casino model, has slipped into hardship. The casino achieved profitability in 1998, which lasted until 2007, but in 2008 it start- ed seeing losses that amounted to $8m as of 2012. The casino has paid an average of VND23.5bn ($1.1m) in taxes each year. As of 2013, it employed 417 workers, 394 of whom were Vietnamese and the rest foreigners.
Despite its poor performance in recent years, the casino’s employees still enjoy quite a high rate of pay. Vietnamese managers earn an average of $800 per month while the foreign managers take home around $2,300. Haiphong management authorities have said that since the casino was opened, it has helped drive tourist numbers.
Do Son beach and Cat Ba are Haiphong’s tourism centres and have seen hundreds of millions of dollars go toward making them tourist hubs of national significance.
According to a National Assembly Finance and Budget Commission report released in February, Ho Tram casino - a major gambling venue in the country in southern Ba Ria-Vung Tau province – reported revenues of $5.5m with 35,877 visitors in just seven months of operation. In that time, Ho Tram has already paid more than $2.8m to the state budget.
The Ministry of Finance's figures show that the five trial casinos, based in Haiphong, Lao Cai, Danang and Quang Ninh, have posted total rev- enue of VND930bn ($44m).
NextGen to supply slots to Gala Coral via deal with Betdigital
AUSTRALIA Betdigital has been chosen by NextGen Gaming, the Sydney, Australia based slots studio of NYX Gaming Group, to launch its Foxin’ Wins and 300 Shields online slots titles exclusively to Gala Coral’s licensed betting offices and bingo clubs.
Foxin’ Wins is NextGen’s finest online slot of the year to date – five reels of comic capers set in the mansion house of an aristo- cratic fox and follows his efforts to catch a mischievous lep- rechaun. Along with the warrior- themed 300 Shields, where play- ers battle against the Spartans in Ancient Greece, it will be avail- able exclusively on B2 and B3 gaming machines in over 1,800 Coral betting shops and 137 Gala Bingo premises. Foxin’ Wins is due to launch across all channels with Coral in the next couple of months and adds to their multi- channel gaming portfolio, sup- ported by Coral’s ‘Connect’ single wallet across land-based and all interactive channels.
Content and systems developer Betdigital is integrating leading gaming supplier NextGen’s popu- lar online games via SystemX. Betdigital’s proprietary platform allows for ultra-quick integrations of just 12 weeks, up to five-times faster than alternative systems.
“Partnering with NextGen to inte- grate Foxin’ Wins and 300 Shields with Gala Coral highlights just how quickly we can work with operators and third parties to get games from one channel live in another environment,” said Heath Samples, Betdigital CEO. “Having been incredibly popular online, I am sure the titles will now be top performers with Coral and Gala Bingo.”,
“We are delighted to be working with Betdigital to launch our games into UK land based premis- es,” said David Johnson, NYX Gaming. “Betdigital’s land-based integration capabilities will add significant value to our proven, premium, repeat-play online slots content.”
Mongolia The Mongolia government is to propose new laws that would allow professional horse racing and legalise sports-betting in a move to attract Chinese punters looking for sports-betting activities during the Hong Kong horse racing closed season. The Mongolian government plans to approach the Hong Kong Jockey Club to utilise its horses and jockeys during the closed season, staging their own horse race meetings. The Hong Kong season commences in September and runs until mid-July. The proposals from the Mongolian Government would take advantage of the two month break to stage race meeting and facilitate sports-betting on races to help generate tax income. Government officials have stated that the legislation is would follow the same rules and regulations as the Hong Kong Jockey Club.
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