Melco to Advise New Silkroad Korea on Jeju ASIA & OCEANIA
CHINA – The Macao Gaming Show will be delivering the Chinese Government's message of economic diversity over the next three years, launching its statement of intent with a new name for the 2016 exhibition which will be held at the Venetian Macau November 15-17.
The MGS expo, the fastest growing exhibition on the international industry calendar, will now be named the MGS Entertainment Show. The new direction has been endorsed by the show's Government partners, and will serve as a platform to help power the SAR and central Government's programme to expand the range of exhibitors and products from the gaming and non-gaming sides of the industry.
Jay Chun, chairman of the MGEMA and one of the key business figures driving Macau's diversity vision, commented: "Our economy - both here in Macau and throughout Asia - is about opportunity. And as the city and region opens up to economic expansion, the show must provide the platform for this. Our casinos go hand in hand with entertainment. They go hand in hand with new technology, new delivery platforms, new innovations - everything that makes a destination work. That's why diversity on the showfloor must reflect diversity in our economy."
PHILIPPINES – The Philippine sector is facing a fight to allow smoking on their gaming floors. Operators are appealing to president-elect Rodrigo Duterte to allow their companies to be exempt from a smoking and liquor ban in all public places.
Kingson Sian, President and CEO of Travellers International Hotel Group Inc. (TIHGI), who owns Resorts World Manila said that operators will unite to discuss the issue next month.
“Hopefully the consultations will support what we’re saying but at the end of the day we’re a law abiding association and we will abide by the law,” he advised.
The Philippine sector is due to see a raft of new openings with Kazuo Okada’s Tiger Resort set to open this year.
In the first quarter of 2016, Bloomberry, Melco Crown and Resorts World reported GGR of P18.1bn, marking an improvement of 6.4 per cent year-on- year. However only Melco Crown’s City of Dreams reported an increase in GGR.
Bloomberry Chairman Enrique Razon meanwhile believes that there is still an opportunity to increase the number of international players at its casino to boost revenues further and prevent future projects from cannibalising the sector. He explained that President-elect Rodrigo Duterte was introducing a more diplomatic attitude towards China than his predecessor Benigno Aquino. He is expected to hold talks with Beijing regarding territorial disputes in the South China Sea which are bad for business.
Chinese customers account for around 40 per cent of the VIP revenues at Solaire. Mr. Razon believes that the relationship between the countries could thaw further allowing more Chinese players to visit.
P24 NEWSWIRE / INTERACTIVE /
247.COM
Melco International’s Korea subsidiary enters deal with New Silkroad Korea, to provide consultancy services for its casino project on Jeju Island, South Korea.
Melco International agrees consultancy deal with New Silkroad Korea to enhance the Jeju integrated entertainment and leisure resort
SOUTH KOREA CASINO OPERATIONS
Melco Gaming Assets Management (Korea) Limited, a wholly-owned subsidiary of Melco International, has entered into a strategic cooperation arrangement with New Silkroad Korea Development, a wholly-owned subsidiary of New Silkroad on the provision of consultancy services for its casino project on Jeju Island, South Korea.
Melco is to provide consultancy services to New Silkroad with regard to building, equipping and fitting-out of New Silkroad’s new casino on Jeju Island, as well as preparation and organisation of the casino’s marketing activities. Te services also include the provision of intellectual property and know-how.
SU Bo, Chairman and Executive Director of New Silkroad, said: “Te strategic partnership with Melco will enable New Silkroad to benefit from the extensive experience and expertise of the respected international gaming brand, through its participation in the design and early-stage development of our mega-casino. We expect the casino to be a true world-class player with the highest standards in operations and internal controls, enabling us to grow and enhance our core competitiveness while we diversify our
NYX Gaming Group completes OpenBet purchase
Australia
NYX Gaming Group has completed the £270m acquisition of OpenBet financed through a combination of new senior secured credit facilities; convertible preference shares in a new wholly-owned subsidiary called NYX Digital Gaming, private placement of new unsecured convertible debentures, which have converted into Special Warrants and a bought deal private placement offering of subscription receipts.
By combining two of the world’s most established and proven B2B betting and gaming suppliers, NYX is uniquely positioned to provide customers with exciting
business into overseas tourism real estate industry, thereby broadening our income sources and creating value to our shareholders. We look forward to a long term partnership with Melco as we grow into a larger and more sustainable company.”
Clarence Chung, Executive Director of Melco, added: “We are delighted for Melco to participate in this exciting project in South Korea with New Silkroad. Leveraging our strong experience and proven track record of creating and operating world-class integrated entertainment and leisure resorts across different geographies such as Macau, Manila and Russia, Melco can bring professional concepts and practices to New Silkroad’s project and enhance Jeju’s tourism appeal on a global stage.”
New Silkroad has officially entered South Korea’s gaming and entertainment business through the acquisition of Development Golden Beach last December. Upon completion of the latest acquisition, New Silkroad will hold a 72 per cent equity stake in Golden Beach, which was awarded the Gaming Licence No. 8, one of the eight gaming licences on Jeju Island and operates a casino there.
player-driven solutions across all verticals and channels – through best-of-breed content, proven technology and a full suite of industry-leading products and services.
NYX now has a combined workforce of 1100 staff based in 14 countries across Europe, North America, Asia, New Zealand and Australia.
“Tis is an exciting day for NYX Gaming as we look to the next phase of the company’s growth. We now turn our focus to planning and executing the strategy to leverage the collective strengths and benefits of scale that the combined business brings to our customers and shareholders,” commented Matt Davey, Chief Executive Officer, of the company.
“Te acquisition reinforces our position as the leading provider of regulated B2B digital gaming solutions.”
Singapore
Resorts World Sentosa in Singapore is making 400 casino employees redundant as it looks to become more efficient against falling revenues due to the slowdown in Chinese gamblers. Genting Singapore, which runs Resorts World Sentosa, reported an 83 per cent year-on-year decline in net profit to S$10.m in the first quarter up to March. As a result the operator is letting go 150 croupiers, 200 supervisors and 25 pit managers go. Te casino employs some 1,400 croupiers, 700 supervisors and 130 pit managers although away from gaming its employs another 9,500 people. Te casino stated: “In anticipation that the business situation is unlikely to improve anytime soon, we have made a very difficult decision to reduce manpower. It is necessary for RWS to review the headcount in its gaming business so that it can achieve the right size to meet its business needs,” said RWS.
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