VIP Outpaces Mass as NagaWorld ASIA & OCEANIA A spectacular 2017 saw NagaWorld, located in the Cambodian capital city of
Phnom Penh, continue to achieve impressive GGR growth of 85 per cent with VIP gaming surging past mass as the main source of income
VIP now accounts for with 65 per cent of the resort’s GGR compared to just 42 per cent last year. Net profit for the year increased by 39 per cent to US$255.2m.
CAMBODIA OPERATOR NEWS
JAPAN – Sources close to Japan’s ruling Liberal Democratic party have said that the government will propose launching tenders for casino licences to six Japanese cities.
The move comes as Prime Minister Shinzo Abe looks to reignite his economic revival programme. Bidders had expected just two Integrated Resort tenders in the big cities, but six licences would mean at least some regional casinos, which could spark big name casino groups intensify their lobbying for their potential projects. A source said: “The biggest haggle is going to be over the number of licences. The LDP is going to come in very aggressively with a proposal for either five or six licences. In the end, I think they will walk away very happy if that is bargained down to three.”
A wider licence plan would more likely see development opportunities in Nagasaki, Tomakomai, a small port city on the northern island of Hokkaido, and Fukuoka, as well as the larger metropolises of Osaka, Yokohama and Tokyo. Caesars Entertainment has already presented its blueprint to build an Integrated Resort in Tomakomai, a small port city in northern Japan, Hokkaido and Osaka.
JAPAN – One of Japan’s political parties, Komeito, the junior coalition partner to the ruling Liberal Democratic Party, wants to set a minimum ¥8,000 (US$75) entry fee for Japanese residents to enter the country’s casinos. The amount is four times higher than the ¥2,000 fee put forward by the LDP and is more in line with the amount charged in Singapore. In a report being prepared by Komeito detailing its recommendations for the IR Implementation Bill, the party has also said that it backs the government’s suggestions to limit the resort’s total footprint to 15,000sq.m, also the same as Singapore, and the gaming floor to three per cent of this floor space.
Komeito wants to limit the number of licenses to two or three while the government wants five/six.
JAPAN –Wynn Resorts has paid a US$2bn settlement fee to Universal Entertainment and Aruze USA to end all litigation between the two companies.
The settlement is related to the Wynn’s board of directors forcing then board member and boss of Universal Kazuo Okada, pictured, to relinquish US$2.8bn of shares in the company in 2012. Then Wynn Resorts CEO Steve Wynn said Okada had jeopardised Wynn’s gaming license by alleging he offered improper hospitality at Wynn properties and gifts to Philippine gaming officials.
P28 NEWSWIRE / INTERACTIVE /MARKET DATA
NagaCorp has revealed that its latest positive results are attributable to robust business volume growth across all segments, especially from the VIP segment where rollings increased by 142 per cent. It currently operates 384 gaming tables and 2,250 EGMs.
Timothy Patrick McNally Chairman of NagaCorp, said: “Our growth and positive results were attributed to a combination of solid business strategy and acumen, operational and execution efficiency, and an increasingly vibrant tourism market in a politically stable country, leading to an increase in business volume across all segments of the gaming business. Today we operate the largest integrated leisure and gaming entertainment destination in the Mekong Region.”
In the Mass Market segment, Public Floor Tables buy-ins and electronic gaming machines bills- in increased by 28 per cent and 21 per cent, respectively. “Tis business volume growth is
GLI is first test lab to issue IP blocking certificates for PAGCOR
Philippines
Gaming Laboratories Asia- Pacific (APAC) operations, led by GLI Australia, has become the first independent accredited gaming test laboratory to successfully complete and issue IP Blocking Certificates for Philippine Offshore Gaming Operator (POGO) Licensees, pursuant to Philippine Amusement and Gaming Corp (PAGCOR)’s existing POGO Rules and Regulations.
GLI’s testing and resultant
certificates were undertaken in accordance with a Memorandum issued by PAGCOR to all POGO Licensees, requiring them to ensure that their IP address(es) used for offshore gaming operation were not accessible within the jurisdiction of the Philippines, on or before March 15, 2018.
attributable to the improved headcount at NagaWorld as a result of visitation and tourism growth into Cambodia, particularly from China, which recorded 46 per cent growth in 2017,” Mr. McNally explained. “Te Golden Edge Rewards Club loyalty program continues to enable the Group to understand its players’ profile, create targeted marketing promotions and rollout player development initiatives to increase the frequency of visitation and gaming spend. Te Group’s VIP Market comprises players brought in by junkets, who are either under a commission or incentive program, and direct players without an intermediary.”
Te VIP Market continued to register robust growth, as a result of increasing market confidence in NagaWorld as an integrated gaming and entertainment destination, resulting in a 142 per cent increase in rollings to US$21.1bn with a win rate of three per cent. Tis has translated into a 177 per cent increase in VIP Market revenue to US$625.3m during the year.
GLI’s Vice President of
iGaming Salim Adatia said, “We are honored to be the first PAGCOR-accredited gaming laboratory to test and certify various IP blocking protocols and solutions for POGO Licensees. We knew the importance PAGCOR placed on this mandate and how paramount IP blocking integrity is to this jurisdiction, which now hosts the largest number of online gaming operators in the APAC region.”
“Trough our Adelaide,
Sydney, and Macau test facilities, we are delighted to provide PAGCOR POGO license holders with the highest quality and most effective IP blocking testing services in the industry,” added GLI Asia’s General Manager of Client Services, Marina Wong.
GLI is authorised to provide independent testing and professional services to the Philippines, all Australian states and territories, New Zealand, Macau, Singapore and other APAC jurisdictions.
Australia
Australian billionaire James Packer has left his position on the board of casino operator Crown Resorts with the company citing mental health issues. Crown said its biggest shareholder was leaving the board for ‘personal reasons’ just eight months after rejoining it following a two-year absence to pursue overseas interests in 2015. Crown Resorts Executive Chairman John Alexander, said: “We have appreciated James’ contribution to the board and respect his decision to step down from his role as a director at this time.” Mr. Packer’s Consolidated Press Holdings stated: “Mr Packer is suffering from mental health issues. At this time he intends to step back from all commitments.” At the start of March Mr Packer offloaded 8,240,933 of his Crown Resorts shares for AU$105.7m although he still owns over 300m shares and owns about 47 per cent of Crown. Mr Packer, son of Kerry Packer, is Australia's eighth- richest person with an estimated wealth of A$4bn.
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