G3Newswire ASIA & OCEANIA GAMING NEWS
WWW.G3NEWSWIRE.COM
IMPERIAL PACIFIC TO FLOAT SHARES
Imperial is to launch 510m new shares on the HKSE to raise funds for a HKD774m casino project on the island of Saipan
Saipan - New projects
Imperial Pacific, an investor in a Macau junket operator, is to launch 510m new shares on the Hong Kong stock exchange to raise funds for a HKD774m (US$99.8m) casino project on the Pacific island of Saipan.
MACAU – APEX MULTI-TAKING AT MGS EXHIBITION APEX exhibited at the Macao Gaming Show (MGS) took place between in November at the Venetian Macao. Together with local partner Laxino Systems Limited, the APEX team enjoyed a positive show. The APEX Player Station (APS) was warmly greeted by visitors to the stand. This electronic multi- player offers roulette and three additional table games: Bacarrat, Sic-Bo and the APEX game Quikke,r which is a unique card-based game.
“We have done our homework and will continue to do it. We have studied player requirements. We have not just taken our European offer and exhibited it, which explains why the APS is already certified for the Macau market. Together with Laxino, we will be investing in ensuring that our product range is ideal to meet local needs and requirements”, explained Mr. Max Pessnegger, CEO of APEX gaming.
The strategy of introducing APEX gaming to the South East Asian market is following clear steps. The first step has been successfully completed – the certification of the APS with four table games. The next step will to be to include slots games especially targeted to player needs here. The third step is then to offer the updated slots solutions – namely the Pinnacle 24” upright and Pinnacle SL 27” slant top.
“We have set our strategy and are looking for long-term suc- cess in SE Asia. There are opportunities for companies who offer the best gaming entertainment solutions. Having such a strong partner in Laxino ensures that we attain continual market feedback to safeguard we are creating the right solu- tions. We do not expect immediate success. We know and understand that it will take time to establish ourselves. We believe we have the right solutions and look forward to sup- porting our customers there,” concluded Mr. Pessnegger.
CAMBODIA - EGA REPORTS LOSSES FROM SLOTS Entertainment Gaming Asia (EGA)—which leases slot machines and once operated the Dreamworld casino in Pailin province—is continuing to incur hefty losses, with its third- quarter gaming revenue down 9 percent year-on-year as a result of lower player numbers at Phnom Penh’s NagaWorld casino, according to the company.
In a filing to the U.S. stock exchange Nasdaq on Thursday, EGA reported revenue of $4 million between the start of July and end of September, down from $4.3 million during the same period last year.
EGA, a subsidiary of Macau gaming giant Melco International Development, attributed the decline primarily to renovations of NagaWorld’s casino floor, which disrupted the use of slot machines.
“The decrease in gaming operations revenue for the third quarter of 2014 was largely due to a decline in revenue from NagaWorld,” EGA CEO Clarence Chung said in the filing.
4 4
The company stated: “The maximum gross pro- ceeds and the maximum net proceeds from the placing will be
approximately HKD791m and HKD774m respec- tively. The board considers that the placing repre- sents a good opportunity to broaden the share- holder base and capital base of the company and to raise certain required capital of the group.”
Imperial Pacific, a financial contributor to the Hengsheng Group, confirmed it had been issued with a 25-year casino licence by the government of the Commonwealth of the Northern Mariana
Islands back in August. The development would be the first large scale integrated resort on Saipan. The move follows a growing trend for junket operators to move into full operations due to a lessening of margins paid from VIP play to the junket operators.
Imperial Pacific added that the 25-year Saipan licence had an option for renewal for a further 15 years and would include the construction of 2,004 hotel rooms and 17,000sq. m. of gaming floor. The licence fee for the first year is US$15m although this will changed every five years to account for changes in inflation. The company confirmed that the Saipan authorities would allow it to bring in outside investors to a maximum of 49 per cent of the issued share capital of the company.
Singapore The fight for VIP customers is heating up in Singapore where the dwindling stream of Chinese high-rollers has seen Resorts World Sentosa and Marina Bay Sands intensify their VIP efforts. Genting Singapore third quarter profit was down by 43 per cent whilst Las Vegas Sands’ most recent quarterly results saw its revenue down by 8.7 per cent. Analysts believe the same austerity crackdown in China that is affecting Macau’s casino sector is also now the norm in Singapore with the Chinese government investigating large cash outflows amid a crackdown on corruption. As a result VIP spend has been dramatically affected. Marina Bay Sands said its VIP betting volume had dropped by 34 per cent.
Silver Heritage to reopen Shangri-La as Millionaire’s Club
NEPAL The Nepalese government is poised to approve Hong Kong- based Silver Heritage Limited to operate a casino at the Shangri- La Hotel & Resort in the capital of Kathmandu.
Silver Heritage, who will oper- ate the property alongside a Nepal-based company, will invest over NPR1bn (US$10m) in rebranding the Shangri-La casi- no as the Millionaire’s Club and Casino. It also runs casinos across the Asia Pacific, in India, Vietnam and the Philippines. It is preparing to ‘ open its doors during the first quarter of 2015.’
Millionaire’s Club and Casino will house 22 tables and 40 electronic gaming machines. The casino will be primarily aimed at providing expanded gaming opportunities for cus- tomers from the growing Indian
and Chinese markets, and will also service the growing expa- triate community living in Nepal.
Silver Heritage‘s Chief Executive Mike Bolsover said: “We are confident the Kathmandu opportunity and our development of other resorts in Nepal represent a huge opportunity given Nepal’s proximity to both India and China’s massive and growing middle class consumer, and Nepal’s cultural affinity with its southern neighbour.”
Tim Shepherd, Silver Heritage’s Chief Operating Officer, added: “We believe the work we are undertaking in Nepal will help the Nepali government achieve their goals by encouraging inbound tourism, particularly from India and China, and stim- ulating the local and national
economy through our planned phased investment of more than US$100m in developing a chain of 5-star resort facilities across Nepal.”
Tulasi Gautam, Director General of the Department of Tourism, said: “The company has met all the requirements. After a joint- venture company is registered, we will forward the company’s proposal to the Tourism Ministry for its final approval.”
Star Management, a Malaysian company, had operated the Casino Shangri-La for the last four years but was forced to shut due to labour unrest.
Silver Heritage also revealed plans to develop a hotel and conference resort called Tiger Palace in the city of Bhairahawa, 265km west of Kathmandu.
The 5-star hotel resort will house 300 rooms. It is expected to open in 2016. Silver Heritage plans to open two more resorts in Nepal before the end of 2018.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92