G3Newswire ASIA & OCEANIA GAMING NEWS
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QUEENSLAND’S $1BN STAR EARNER
CAMBODIA – GLORYWIN BUYS CHATEAU DE BAVET Glorywin Entertainment Group, one of Asia’s premier casino operators and junket service providers has bought Chateau de Bavet, a luxury casino in Cambodia.
The boutique hotel and casino, located on National Road in the border town of Bavet, operates with 183 slot machines.
With the massive revenues brought in by the gaming indus- try throughout the region, this recent development has the company poised for substantial growth.
The number of casinos in Cambodia has almost doubled since last year with a total of $2bn brought in by the coun- try’s gaming industry for 2014. Tourism to the region has grown tremendously, driving the increase in the average mass-market wager size.
Major US investment firms maintain a positive outlook on the Asian gaming sector as well as a Big Four accounting firm stating “Asia Pacific will be the fastest-growing region for casino gaming spending over the coming five years.” Foreign investment is coming onto the scene as well, with a listed company in Australia paying close to $400 million for anoth- er luxury casino in Cambodia.
Glorywin Entertainment has extensive experience promoting casinos in Asia, as well as implementing fraud and risk con- trol procedures, payment processing and compliance proto- cols. In addition to their recent land-based casino acquisition, the company operates their business through the introduc- tion of sub-junkets and the provision of information technol- ogy infrastructure to casinos and receives an agreed per- centage of total bets as revenue, seeing over $1 billion in total bets placed for 2014.
Glorywin’s stock currently trades on the OTC Venture Marketplace at $2.00 per share under the ticker symbol GWIN. The company expects to see significant growth in both their online and land-based casino operations with Company Chairman Mr. Wenwei Wu stating, “We continue to strive further in the gaming industry to be in the best position possible to provide results for our consumers, partners and shareholders. With our own regulated land based casino, we shall achieve maximum flexibility in arranging our IT systems to provide a superb online gaming experience to our gamers.”
Glorywin provides junket services to 25 sub-junkets. The company provides technical support and record keeping of sub-junkets to their online casino operators and promotes their online casino websites through their list of sub-junkets, including VIP room junket promotion directly to consumers and existing land-based casino consumers which include individuals within legal gambling age in their respective terri- tories across the world.
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Australian operator Crown Melbourne is adding a brand new luxury six-star hotel tower to its Melbourne casino precinct Australia- Operations
Australia’s Star Entertainment Group will pay the Queensland government $272m in exchange for the right to develop the Queen’s Wharf casino and resort, which will generate over $1bn of state tax over 10 years. Premier Annastacia Palaszczuk and Star Chairman John O’Neill have now signed the final contract for the A$3bn casino resort on the Brisbane waterfront.
When the new integrated resort in Brisbane opens in 2022 it will be known as The Star, Brisbane. Following Star Entertainment’s name change from Echo Entertainment, Jupiters Hotel & Casino will rebrand as The Star, Gold Coast, whilst Treasury Casino & Hotel will become Treasury by The Star.
The first instalment for The Star Brisbane of $272m has now been paid to the Queensland Government.
Premier Annastacia Palaszczuk said: “Another guaranteed $880m will follow from casino taxes over the first 10 years of Destination Brisbane Queensland’s operations from 2022. It’s a large amount of money, it’s a significant sum of money and in total it is more than $1bn. It does mean there is a huge injection of cash that is going
directly to pay down debt on our state budget. We would expect to see more than one million tourists coming to south-east Queensland over the coming years. The project will create 2,000 construction jobs and 8,000 operational jobs but we will see overall some 10,000 jobs over the coming year.”
The deal includes a 25-year casino exclusivity period for 60km from the Brisbane CBD for the casino’s 2,500 pokie machines. It has also been granted unlimited gaming tables, including ‘elec- tronic’ gaming tables. The Star, formerly Echo Entertainment Group, has partnered with Hong Kong based Far East Consortium and Chow Tai Fook in the formation of the Destination Brisbane Consortium.
Star Chairman John O’Neill said: “While the gov- ernment drives a hard bargain, we’re delighted with the outcome. It will be quintessentially Brisbane, it will be quintessentially Queensland and will reverberate right around the world.”
Mr O’Neill added that the aim was to attract an additional 1.4m international tourists each year to Queensland, bringing an estimated spend of $1.69bn. China’s emerging middle class would be a key demographic for the development. The first phase of the build will get underway in 2017 with the old state government buildings being demol- ished. The development will include five new hotels and an integrated resort including a casino, a link across the Brisbane River to South Bank and a new live theatre, with a $1.3m business centre.
GLI Australia licensed to test online gaming for Isle of Man
AUSTRALIA Gaming Laboratories International was recently awarded accreditation as an approved online gaming testing facility by the Isle of Man Gambling Supervision Commission. This opportunity extends GLI’s global coverage, allowing the company to better service its customers not only within the region, but also from around the globe. It also demon- strates GLI’s commitment to investing in the gaming industry; as technologies become more advanced and complex, GLI is
dedicated to providing profes- sional service to its customers quickly and more cost effective- ly.
GLI Australia’s Chief Operating Officer APAC Espee de Robillard said, “With GLI’s customers look- ing more and more toward ‘port- ing’ games from land-based gam- ing machines (EGMs) to iGaming, we need to be ready. Being accredited, licensed and aligned with other GLI locations better equips GLI’s customers in their drive toward greater global cov- erage. What is important is that
GLI continues to invest in the gaming industry as technologies become more advanced and com- plex, and at the same time, cus- tomers are looking for a commit- ted professional service provider wanting to go the extra mile.”
GLI has been operating in Australia for more than 20 years and serves regulatory clients and supplier customers throughout Australia, New Zealand and the Western Pacific. GLI’s three Australia-based labs – located in Adelaide, Melbourne and Sydney – are collectively known as GLI Australia. Recently, the labs in Australia welcomed the addition of multitude of new staff mem- bers due to the ever-increasing demand of existing and new cus- tomers.
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