Wire ASIA & OCEANIA
The Star Receives Second AU$100m fine
CHINA – Macau’s six casino licence holders have officially signed up for their 10-year licence renewals with the government. The Chief Executive of Macau, Ho Iat Seng, signed documents for the Macau government with executives from MGM Grand Paradise, Galaxy Casino, Venetian Macau, Melco Resorts, Wynn Resorts and SJM Resorts.
The new licences will come into effect at the start of 2023, with all six licence holders to maintain capital reserves of MOP$5bn, a huge increase from MOP$200m previously. The six operators have committed to a combined investment of MOP$118.8bn (US$14.9bn), with MOP$108.7bn (US$13.6bn) aimed at non-gaming projects and MOP$10.1bn (US$1.26bn) to gaming projects.
JAPAN- Osaka Governor Hirofumi Yoshimura’s believes that MGM’s casino in partnership with ORIX will be viable even without the influx of Chinese players, once seen as the most important tourist player for Japan’s casino ambitions. He said to Bloomberg: “We had a huge volume of inbound Chinese tourists in mind when the project was still in its early stages. However, it still remains an extremely popular destination from tourists from all over Asia, including Korea, from Taiwan and from all over Southeast Asia.
Meanwhile, Japan’s Ministry of Land, Infrastructure, Transport and Tourism has confirmed it is improbable that the government will be able to sign off on Japan’s two future casinos in Osaka and Nagasaki by the end of 2022.
PHILIPPINES – Jade Entertainment and Gaming Technologies has launched its new sportsbook offering for retail and remote gaming –
jadesportsbet.com – in time for the new season of the NBA. The goal of the partnership between the two companies is to provide the’ fastest, most efficient, and most enjoyable gaming experience’ for players on all devices.
“We are thrilled to bring you the all-new Jade Sportsbook, which carries the largest and the most diversified collection of sports betting offers. We are excited about the new platform that our patrons will surely enjoy,” said Jade’s CEO & Founder, Joe Pisano. “We’re glad that the number of companies using our services is increasing, and the geographical boundaries are expanding, reaching the Philippines.”
MACAU- Sands China has outlined both a broad financial commitment to Macau over the next decade, as well as highlighting some key areas of investment. The company has pledged to spend MOP 30bn (US$3.75bn) through 2032 on both capital and operating projects, including MOP 27.8bn (US$ 3.5bn) in non-gaming projects that will also appeal to international visitors.
P18 WIRE / PULSE / INSIGHT / REPORTS
Star Entertainment has received its second AU$100m fine in as many months as part of a raft of disciplinary actions.
Following the findings of Queensland’s Gotterson Review and the Attorney-General’s determination of unsuitability, Australia’s Star Entertainment has received its second AU$100m fine in as many months.
Attorney-General and Minister for Justice Shannon Fentiman said Te Star’s and other interested parties’ responses to the show cause notices issued last month have been taken into consideration when determining appropriate disciplinary action.
“Queensland casinos must operate with integrity – and it is clear that there have been major failings by the Star group and its entities,” the Minister said. “Like many Queenslanders, I was appalled at the extent of the actions of Te Star in welcoming excluded persons to their casinos and the exorbitant incentives on offer for questionable gamblers.
Te Attorney said that following Governor in Council approval, Te Star will be fined $100m to be paid over 12 months.
It will need to appoint an experienced China SJM dealt crushing 37 per cent tables reduction
Macau operator SJM Resorts was the biggest loser in the reallocation of table games and slots by the Macau government losing 743 gaming tables or 37 per cent of its previous total.
SJM has been given 1,250 gaming tables and 1,700 electronic gaming machines under the new concession period commencing on 1 January 2023, down from 1,993 tables previously.
Te government had warned that the number of tables and slots would fall to 6,000 and 12,000 respectively meaning a 13 per cent reduction in table games and a three per cent reduction in slots.
As the only licence holder to receive an increase in its gaming products, MGM China was undoubtedly the biggest winner
with an extra198 tables an increase of 36 per cent. Galaxy Entertainment Group saw its table quota slashed by seven per cent and was issued with 1,000 gaming tables and 1,700 slots down from1,079 tables.
Sands China saw its table numbers fall by 0.3 per cent as it lost just five tables in its reallocation of 1,680 gaming tables and 3,700 slots.
Wynn Resorts was issued 570 gaming tables and 1,100 electronic gaming machines, meaning its total number of table games fell by 100 from 670 or 15 per cent
Melco Resorts was given 750 gaming tables and 2,100 electronic gaming machines, meaning a 21 per cent fall in its table quota which fell from 946 tables by 196.
independent special manager to monitor Te Star’s operations in Queensland, with the cost to be recouped from the relevant casino.
Te licenses of Treasury Brisbane and Te Star Gold Coast’s will be suspended for a period of 90 days, the commencement of which is deferred until December 1 2023.
“Te reason these significant penalties could be applied is due to recent reforms to the Act which passed in the Queensland Parliament in October,” the Attorney said. “And I can assure Queenslanders that Te Star will be sent the bill for the cost of the special manager’s work.”
Te Attorney-General also said that that the deferred commencement date of the licence suspensions will give Te Star an opportunity to remediate its management and operations and get back to a position of suitability.
“Should Te Star make satisfactory progress towards rectifying these issues, the special manager and I may determine to postpone or rescind the suspension of licences. Mr Nicholas Weeks will be appointed as the special manager.
China
Macau’s casinos have been asked to set up foreigner only gaming zones on their gaming floors by the Macau’s Executive Council with special gaming chips to keep a better check on gaming revenue produced by foreign players.
Te zones will be given a tax break of five per cent for help drive demand for their use from January 1 2023. Foreign players in Macau are classed as any not from Macau, mainland China, Hong Kong or Taiwan.
JP Morgan analyst DS Kim warned: “Foreigners probably drove less than 10 per cent of mass GGR before COVID, not many of them will likely want to restrict themselves to ‘foreigner- only zones’as gamblers typically prefer to move between different tables to find the ‘pattern’ and ‘luck’ they favour.
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