ASIA & OCEANIA
CAMBODIA – NagaCorp, which owns NagaWorld in the Mekong Region of Cambodia, saw its GGR increase by 26 per cent to US$480.6m in 2015 with profits up by 27 per cent. Mass Market Revenue increased by 33 per cent to US$257.7m whilst VIP Revenue increased by 19 per cent to US$222.9m.
The company’s results were boosted by an increase in Chinese visitation to Cambodia which was up 24 per cent year-on-year to 0.6m visitors during the first 11 months of 2015.
NagaCorp stated: “The continued downturn in Macau’s gaming sector offers opportunities for the group to further penetrate the regional gaming market for both the VIP and Mass Markets. Taking advantage of NagaWorld’s low-cost structure, the group is able to offer better commercial terms to junket operators and agents.
“Several North Asian junkets seeking to diversify their operations to other parts of Asia signed up with the Group during the year. NagaWorld’s junket incentive program, aimed at promoting NagaWorld to a wider range of regional operators and players, continues to be successful, with a 27 per cent increase in VIP rollings during the year. For 2016, the group has revised its overseas junket incentives in order to improve its margins, as it captures a larger share of the Asian VIP gaming market.”
PHILIPPINES – The Philippines Securities and Exchange Commission wants casinos to fall under the jurisdiction of the Anti-Money Laundering Act (AMLA) to give investigative authorities greater powers. The call comes after at least half the money stolen in an US$81m cyber crime ended up in two of the country’s casinos. Unconfirmed reports suggest that $26m was found to have moved through Solaire Resort and Casino with another $20m being laundered in Easter Hawaii Casino and Resort in the Cagayan province. The deposits were made between February 5 and 9. A casino in Sri Lanka is also thought to have been used.
SEC Chairwoman Teresita Herbosa said: “We need to strengthen the law. It’s a global effort to eradicate money laundering. We have to catch up with people doing that activity.”
The heist involved hackers using a malware device on the Bangladesh Bank’s computer network. The Federal Reserve Bank of New York received a series of withdrawal requests from the Bangladesh Bank. It approved the first transaction, amounting to $81m with the money then being deposited via the Society for Worldwide Interbank Financial Telecommunications (SWIFT) into foreign bank accounts, and then laundered through the casinos.
The fraud was only detected when a spelling mistake on the word ‘foundation’ held up the payment. Further payments of between $749m to $769m were scheduled to go out the same way. Cristino Naguiat, Chairman of PAGCOR (Philippine Amusement and Gaming Corp) has been asked to attend hearings of the Senate of the Philippines along with a series of executives from individual casino groups.
P24 NEWSWIRE / INTERACTIVE /
247.COM
Casinos could generate tax of US$2.8bn for Thai economy
Tailand
Te introduction of casinos in Tailand could generated yearly tax revenues of over US$2.8bn to the country, according to research carried out by Rangsit University’s College of Social Innovation. Te study showed that a foreigner-only casino sector would reach gaming tax of TH$100bn far quicker than Singapore which took three years.
Mohegan Sun Unlocks Gateway to Korea Te Mohegan Tribal Gaming Authority (MTGA) operator of Mohegan Sun have
been awarded a license from the Korean Government to develop and build a first- of-its-kind integrated resort at Incheon International Airport in Korea
Mohegan Tribal Gaming Authority along with the Korean chemical company KCC Corp. will develop a $5bn casino at the Seoul- Incheon International Airport
SOUTH KOREA NEW LICENCES
Te Mohegan Tribal Gaming Authority (MTGA) operator of Mohegan Sun properties throughout the United States, along with partners KCC Corporation and Incheon International Airport Corp (IIAC) have been awarded a license from the Korean Government to develop and build a first-of-its-kind integrated resort at Incheon International Airport in Korea.
Te US$5bn project will include a 20,000 square meter casino with 250 tables and 1,500 slot machines and a Paramount Studios Temed Indoor-Outdoor amusement park. It will be first and only destination resort in the world with an adjacent private air terminal operate. It will also be the largest entertainment arena in South Korea with capacity for up to 15,000 people. Other features include 33,000 square meter Eco Adventure Park featuring the latest in indoor rock climbing, zip lining, an indoor rainforest, and an archaeology experience, a Korean cosmetics and beauty hub and 20,000 square meters of retail brands in the world and over 20 food and beverage concepts.
Bobby Soper, President of MTGA, said: “We are pleased with the Korean Government’s decision to award us the opportunity to help fulfill their vision of driving economic development by growing tourism, creating jobs, and showcasing Korean culture via the integrated resort.”
KCC Chairman Chung Mong-Jin added: “KCC is thrilled that its partnership with the Mohegan Tribal Gaming Authority has been awarded the opportunity to develop this exciting and transformative integrated resort which will be instrumental in bringing new generations of tourists to Incheon.”
Chung Il-young, CEO of the Incheon International Airport Corporation noted, “We deeply appreciate the careful review that the Korean Government has conducted on this bold new initiative for tourism in Korea. Its selection of the Inspire project at IBC-II is wonderful news for the Incheon region and will serve as a catalyst for growth in the airport development zone for years to come.”
Mohegan Sun’s multi-phase development project named Project Inspire will also include three-tower luxury hotel complex with 1,350 five star and six star guest rooms.
Mohegan Sun is joined by Miura Holdings Asia, a multi-purpose investment vehicle focused on gaming, hotel and food & beverage activities in the United States & Asia, as part of the development team. Consummation of the conceptual agreement and development of the project is subject to certain governmental and regulatory approvals.
Tailand and Brunei are two of the biggest Asian countries without legal casinos. Countries neighbouring Tailand are home to at least 120 legal casinos with the vast majority being in Cambodia and Laos.
Te study was led by Sungsidh Piriyarangsan, the Dean of Rangsit University’s College of Social Innovation. He gave his conclusion during a press conference. He claims a survey of 2,500 Tai residents found widespread support for casinos, particularly among middle-income earners.
Te study also claimed that legalising casinos would increase Tailand’s international tourism by up to 50 per cent. Whether anyone is listening is the question?
Vietnam
Reports out of Hong Kong claim that Hard Rock International and Banyan Tree are planning to build a casino resort in central Vietnam. Te Ming Pao newspaper, published in Hong Kong, quotes Hard Rock Vice President for Asian business development Daniel Cheng. He said the partnership was considering a US$100m investment in Vietnam to open a casino with up to 80 gaming tables and 500 slots. Te report said that Hard Rock was also looking at investment opportunities in Japan, South Korea, Cambodia and the Philippines. Vietnam has been considering allowing locals to gamble in its casinos to make its potential more attractive to foreign investment.
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