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G3Newswire ASIA & OCEANIA GAMING NEWS WWW.G3NEWSWIRE.COM MOHEGAN SUN LOOKING TO INSPIRE


Mohegan Sun has confirmed the name of its resort casino to open at Incheon International Airport in South Korea South Korea - New Projects


PHILIPPINES – STOCKS CRASH DUE TO CRACKDOWNS Macau hasn’t been the only place hit by China’s crackdown on corruption and austerity with operators in Manila’s Entertainment City losing market value.


Melco Crown and Bloomberry Resorts have both been pum- melled with JPMorgan Chase & Co. predicting that profits will fall across the Philippines by 56 per cent in 2016. Shares in Bloomberry, the operating force behind Solaire, have dipped by 27 per cent in 2015, whilst Melco Crown Philippines’s shares fell by 56 per cent. The more established Resorts World Manila, owned by Travellers International and Genting has suffered, falling by 35 per cent.


Noel Reyes, Chief Investment Officer at Security Bank, said in his analyst notes: “The chain reaction from Macau hit every- one. Expectations VIP players will come in large numbers didn’t happen. The stocks have fallen quite significantly but not everyone is rushing back in, and there’s no clear light at the end of the tunnel.”


Chinese visitation levels to the Philippines, the country’s fourth largest tourist sector, dropped by 33 per cent to 93,043 in the first quarter of 2015.


Revenues have been hit hard. Bloomberry made a first-quar- ter loss of 533m pesos (US$11.8m) due to the funding of Solaire’s expansion. Melco’s City of Dreams, which opened in December, reported a 3.09bn peso loss whilst Resorts World saw profit increase by 1.6 per cent to 1.74bn pesos.


Richard Laneda, an analyst at COL Financial Group, noted: “The first-quarter results raised the question; can there be aggressive growth without the numbers coming from China? The growth in earnings didn’t match the pace most wanted to see. The market isn’t overreacting, there’s genuine uncer- tainty.”


However, it’s not all doom and gloom. Marc Reyes-Lao, an analyst at BPI Securities Corp. in Manila believes investors have ‘overreacted.’ “It’s partially because of negative senti- ment towards the industry brought about by China’s cam- paign against corruption,” he said.


Bloomberg believes that profits across the three main casino resorts will increase by 47 per cent reaching 13.61bn pesos in 2016 and 15.59bn pesos in 2017. Analysts at Sanford Bernstein team added: “In the near-term, the Philippines may also have some favourable regulatory environment which allows proxy betting, Internet interactive gambling, and low tax rate that enables casinos to offer competitive junket commissions. However, we do not expect such regulatory arbitrage for the purpose of luring Chinese VIP players to persist over the long-run.”


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Mohegan Sun has confirmed that the name of its resort casino to open at Incheon International Airport in South Korea will be Inspire. It will house a 20,000 sq. m. casino with 250 tables and 1,500 slot machines.


The Mohegan Tribal Gaming Authority, operator of Mohegan Sun, Mohegan Sun Pocono and Resorts Casino Hotel, and Incheon International Airport Corporation have now finalised the concept agreement and unveiled new details of its pro- posed partnership to develop, build and operate a first-of-its-kind gateway entertainment district adjacent to the airport on the IBC-2 site in Incheon, South Korea.


The full name for the proposed resort will be the Inspire Integrated Resort, and will create an epi- center for Korea’s growing entertainment, tourism and hospitality industry. The project will lead a paradigm change from shopping-centered tourism to culture and entertainment-based tourism, will connect with the airport’s transit tour program, and will create synergy with the “Paradise City”


development located on IBC-1 site adjacent to the airport. Upon its completion, the visionary inte- grated resort will create the only “Airport City” development and will firmly establish Incheon International Airport as among the most unique destinations in the world while providing signifi- cant benefits to South Korea’s economy.


Bobby Soper, President of MTGA, said: “We are pleased to progress to the next stage of our pro- posed partnership with IIAC by finalising a con- ceptual agreement on Inspire, a visionary, first of- its-kind resort that represents the next major evo- lution in the global hospitality, tourism and gam- ing industries. We are excited to extend the unique Mohegan Sun brand with the support and collabo- ration of IIAC as we work to develop a must-visit destination. We also look forward to playing a meaningful role in contributing to Korea’s dynam- ic economy.”


President and CEO of Incheon International Airport Corporation, Park Wan-su, said: “We believe that when combined with our existing services and amenities, Inspire will not only cement Incheon Airport’s position as the best air- port in the world, but also as a top leisure destina- tion in Asia. We look forward to benefiting from MTGA’s expertise and collaborating with our existing partners and 40,000 employees to exe- cute on this vision.


Melco’s Golden Reel Ferris nears completion at Studio City


MACAU Melco Crown Entertainment has unveiled the epic movie-inspired Golden Reel Ferris wheel as the iconic centerpiece attraction of the company’s soon to open US$3.2bn Studio City complex in Macau.


Towering at 130 meters in Cotai, the Golden Reel is majestically located at the center-point between the resort’s twin “Art Deco meets Gotham City” hotel towers, and will offer visitors a thrilling ride experience unique to Studio City.


Like the best-paced movie scripts, the next big “reveal” for guests is the Industrial Revolution themed loading plat- form, 23 floors above the ground floor. There are 17 “Steampunk”-


themed cabins, each comfortably accommodating up to 10 people on the 15+ minute, jaw-dropping journey around the uniquely- shaped figure-8 track. The “never-been-done-before” attraction was designed and engi- neered by a world-class team lead by Liechtenstein-based Intamin Amusement Rides Int. Corp., world-renowned for highly-inno- vative amusement rides.


Lawrence Ho, Co-Chairman and Chief Executive Officer of Melco Crown Entertainment, said: “World-class entertainment expe- riences are the key feature of our leisure destination offerings at Studio City. The Golden Reel is a ‘world’s first’ technological inno- vation that reinvents the gondola- ride and Ferris wheel experience for our visitors.”


Australia Ladbrokes Australia has premiered the world’s first multi-million dollar ‘Mega Margin’ pools for mobile, on Australian Rugby League (AFL) and National Rugby League (NRL) games with Partial Cash Out, powered by Colossus Bets. Paul Cherry, COO of Ladbrokes Australia said: “Mega Margin pools will enable our players to shoot for a million dollar Pick 6 prize weekly on both AFL and NRL. These products feature Partial Cash Out, whereby players can take some money and run, between legs on their live tickets. Our mobile-led platform is suited to a bet with ‘on-the-go’ Cash Out decisions and life-changing jackpots for our players and Mega Margin is a great innovation for us.”


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