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EGA TO SELL DREAMWORLD CASINO
Entertainment Gaming Asia is to sell its Dreamworld Casino in Pailin, Cambodia, to a local Cambodian company Cambodia - Operations
Entertainment Gaming Asia is to sell its Dreamworld Casino in Pailin, Cambodia, to a local Cambodian company. It will also terminate all previous agreements with its partner in the opera- tions, who is a relative of the Purchaser. Dreamworld Pailin, a regional casino, opened in May 2012 and was constructed on land owned by the Partner in the Pailin Province of Northwestern Cambodia next to the Thailand border.
CHINA – MGS’ INFLUENTIAL EXHIBITOR LINE-UP Organisers of November’s Macao Gaming Show (MGS) have unveiled an exhibitor list which comprises many of the biggest and most influential organisations active in the inter- national gaming community.
Taking place across 18-20 November, 2014 at the Venetian Macao, MGS will feature a raft of heavyweight international gaming companies, including IGT Asia Macau, Aristocrat (Macau), Aruze Gaming Macau, Ainsworth Game Technology, TCS John Huxley, LT Game, BMM Testlabs, Astro Corp, Future Logic, Angle Playing Cards, Inspired Gaming Group, JCM Global, Matsui Asia, and MEI Group. As of July 1 95 per cent of last year’s exhibitors have re-booked with companies new to MGS being offered stand options for the 2014 event.
Marina Wong, (pictured) General Manager and Event Director at MGS said: “Our objective was to build on the success achieved in 2013 and the response from the international gaming community has been very positive. 2014 is on course to be a bigger event featuring returning companies as well as those which will be new to MGS. The proportion of returning exhibitors is a very accurate measure of success and I’m delighted to have some very important companies on the floor plan. The MGS slogan ‘By Asia for the World’ could not be more appropriate.”
AUSTRALIA – ARISTOCRAT DEAL ENHANCES OASIS Aristocrat has entered into an exclusive licensing and devel- opment agreement with casino loyalty solution developer House Advantage.
Under the agreement, Aristocrat will be the exclusive licensee and sales distributor for House Advantage’s gaming product suite in the North American market.
Aristocrat will embed House Advantage software into Aristocrat’s Oasis 360 casino management system. Aristocrat will also act as first level of support for the HALo suite of products, bringing world-class service to the soft- ware suite. Additionally, Aristocrat and House Advantage will work jointly to develop new casino promotional software and loyalty solutions.
“Leading casinos across North America are successfully using House Advantage’s elite software, which provides casi- nos of all sizes with a scalable, competitive, unique, innova- tive solution for building patron loyalty. This agreement reflects our commitment to bringing best-in-breed software solutions to our loyal Oasis 360 clients, and we are thrilled to bring these solutions to our company, to our existing Oasis 360 customers and to other customers across North America,” said Aristocrat Chief Product Officer Rich Schneider.
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While operating losses for Dreamworld Pailin have narrowed in recent months, due to an inabil- ity to secure a long-term third-party table game operator, a low level of natural player traffic and the political unrest in Thailand, Entertainment Gaming Asia has been exploring strategic alterna- tives for the property. After careful evaluation of all options, on June 20, 2014 the Company entered into an agreement to sell 100 per cent of the issued shares of DWP to the Purchaser.
The sale includes all assets of DWP with the exception of all electronic gaming machines, cer- tain surveillance equipment and other assets excluded in the agreement and prohibits any use of the Dreamworld brand name by the Purchaser. Total consideration paid to the Company by the Purchaser will be $500,000, of which $100,000
was paid at the time of entering the agreement and the balance is to be paid in 16 $25,000 month- ly instalments commencing within one month of the signed agreement. The parties expect to com- plete the sale transaction subject to the purchas- er’s receipt of certain government approvals, which is expected within the next few months.
In connection with the sale of the issued capital shares of DWP, on June 20, 2014 the company and the partner entered into an agreement to termi- nate the previous agreements with the Partner and all future obligations there under including future lease payments owed by the company. As previously reported, the Company recorded an impairment charge of approximately $2.5m as of December 31, 2013 related to Dreamworld Pailin. The impairment charge represented the entire capital expenditure incurred for the property as of December 31, 2013 with the exception of those assets that the Company believes could be rede- ployed to other existing properties.
Crown Resorts to pay A$94m for Sydney casino license
AUSTRALIA The state of New South Wales has awarded James Packer’s Crown Resorts a license for its six-star luxury integrated resort project in Sydney, its second casino in the city. Crown will need to pay A$100m (US$94m) for the 99- year license, which also sets out a series of other terms and condi- tions, including minimum tax rev- enue levels for the state govern- ment.
No poker machines will be allowed on the premises and gam- ing will be subject to minimum bets. Only members and guests will be allowed to gamble, not the general public, the company said in an ASX filing.
Smoking will be permitted in the facility, providing air quality equipment is installed.
The license provides for Crown to pay a minimum of $1 billion in
gaming taxes over the first 15 years of operation of the Crown Sydney resort. It also states that in the first three years, the revenue from the company’s combined operations in the city must be at least three times that of The Star casino in the year prior to opening the new resort.
Crown Resorts CEO Rowen Craigie said the license award was an important milestone for the proj- ect. “Crown Sydney will help bring international and domestic tourists to Sydney, create over 1,200 jobs and generate significant economic benefits for New South Wales,” he said.
Saipan Saipan’s CNMI Lottery Commission has granted a conditional license to develop a $2bn integrated casino resort on Saipan to Best Sunshine International, a subsidiary of Hong Kong- listed Imperial Pacific International. The approval is conditional upon the commission and Hong Kong-based Best Sunshine’s clarification of the casino development agreement. Representatives of Best Sunshine must now meet and discuss with officials of the Lottery Commission in order to finalise the terms and conditions for the award of the casino licence. The commission’s two U.S.- based consultants that investigated and reviewed the applications—The Innovation Group of Companies and B2G Global Strategies—recommended Best Sunshine for license consideration over Marianas Stars.
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