Wire ASIA & OCEANIA
Blackstone Completes Crown Takeover
MACAU- A COVID outbreak in Macau has seen analyst Sanford C. Bernstein drop its June forecast for GGR which is now expected to be 91 per cent less than June 2019 with average daily revenue (ADR) down 31 per cent on May 2022.
Prior to the outbreak which is now believed to have affected 36 people including one casino executive, June daily revenue was being pitched at 11 per cent up from May’s daily GGR of US$13m.
ASIA – Pronet Gaming is to turn its attention to emerging markets in Asia following success that has allowed it to expedite its plans ahead of schedule. The full turnkey platform specialist has expanded rapidly in the last 18 months after providing a range of operators with sportsbook and casino platform solutions, as well as a range of retail options, in a variety of jurisdictions around the world.
This growth has funded a massive investment in IT and new offices which has allowed it to perfect it’s offering for markets in Asia, where its services will allow brands to offer localised products to their customers and a genuine point of difference among competitors. The supplier will also embark on a recruitment campaign to bolster its ranks in one of the region’s most important gaming hubs, across all disciplines including sales, marketing, account management and IT Support and Development
Pronet Gaming CEO Alex Leese said: “An Asian market entry was always in the plan and required a real focus on ensuring that we had the right product to compete. I’m obviously really pleased that we are now able to do that sooner rather than later.
“The tremendous commercial success we have enjoyed is not only testament to the hard work of the team and the universal appeal of our offering, but it bodes well for new customers looking for an affordable, yet tailored solution. “Needless to say, we will have to expand our team with Asian market specialists in the coming months to ensure we offer a truly localised service, but I’m confident we will have a compelling proposition moving forward.”
AUSTRALIA – Aruze Gaming Australia has appointed Mitsuhiro Miyazaki as senior vice president of Product Management for its Asia Pacific regions, including Australia, New Zealand.
As SVP of Product Management Mitsuhiro will oversee Aruze’s product planning and roadmaps for the region. Mr. Miyazaki will help develop and implement strategies for the company products within R&D, compliance, and sales as well as help drive the organisation along with other senior management.
P22 WIRE / PULSE / INSIGHT / REPORTS
Blackstone has announced that real estate funds and private equity funds managed by Blackstone have completed the acquisition of Crown Resorts.
In what is the largest transaction to date for the firm in Asia Pacific, Blackstone has announced that real estate funds and private equity funds managed by Blackstone have completed the acquisition of Crown Resorts. Te transaction comprises three premium resort and casino properties in Melbourne, Perth and Sydney. Blackstone will work with the management team at Crown and its employees, as well as representatives from the United Workers Union and other unions, to transform these properties into world-class entertainment destinations and continue Crown’s transformation to operate at the highest standards of compliance, governance, and integrity.
As one of Australia’s largest entertainment groups, Crown makes a major contribution to the Australian economy. Crown’s core businesses include two of Australia’s leading integrated resorts, Crown Melbourne and Crown Perth, as well as Sydney’s latest premium hotel resort and dining precinct at Crown Sydney.
Alan Miyasaki, Head of Real Estate Acquisitions Asia, Blackstone, said: “We first invested in Crown two years ago, seeing the tremendous underlying potential of the company and its
people. We look forward to working with the teams at Crown and applying our experience in owning and operating marquee hospitality brands with the highest levels of ethics and integrity to create something unique for employees, local communities, and visitors.”
Chris Tynan, Head of Real Estate Australia, Blackstone, said: “Tis is a great opportunity that plays to Blackstone’s strengths – investing significant capital and resources to rebuild Crown into an iconic destination for travel and leisure. Blackstone has built a strong Australian presence over the last 12 years. We look forward to supporting the local economy, creating jobs, and attracting visitors to Crown’s exceptional properties.”
Steve McCann, Crown Resort’s Chief Executive Officer, said: “Today, Crown emerges as part of the Blackstone family, which is the start of a new era for this great company and its 20,000 team members. Over recent times, Crown has undergone immense transformation, and we know under Blackstone’s ownership, we will realise our vision to deliver world-class entertainment experiences and a safe and responsible gaming environment.”
Northern Marianas Imperial Palace to reopen in November
Imperial Pacific International (IPI) has confirmed it is looking to reopen its Imperial Palace Saipan casino in November this year.
Te troubled venue, which has been closed since March 2019 due to the pandemic, had its licence revoked in August 2020 after it failed to pay annual licence fees. However, it has now reported that it is close to reaching an agreement with the Commonwealth Casino Commission said it was ‘in the process of finalizing the settlement terms through a settlement agreement’ with the hope of the November reopening.
Te operator said: “Te agreement is expected to be signed by the end of June 2022 and IPI is actively
planning, under CCC’s guidance, for reopening by November 2022. “Once the travel restrictions in Saipan are lifted, the casino in Imperial Palace Saipan shall resume operations and be opened to public. We expect the successional opening of villas and hotel rooms of Imperial Palace Saipan, subject to the lifting of the global travel restrictions, will enhance our capacity to welcome visitors to Saipan.”
It also claims to have engaged ‘major global construction companies, consulting firms, design and engineering firms as well as local sub-contractors’ to finalise construction work on the Saipan casino. Losses for the year came in at HK$1.07bn coming down from HK$7.39bn last year.
China
Macau six casino licence holders have now signed extensions to their contracts until December 31 2022 with the Macau government at a cost of MOP$47m.
Galaxy Entertainment, Melco Resorts & Entertainment, MGM China, Sands China, SJM Resorts and Wynn Macau have all signed extensions which the government said were needed because the process of bidding for new gaming licenses could not be completed before the licences ran out on June 26.
Melco Resorts Macau confirmed it would pay the Macau government MOP47m (equivalent to approximately US$5.8m) upon signing of the Extension Agreement as premium for such extension.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140 |
Page 141 |
Page 142 |
Page 143 |
Page 144 |
Page 145 |
Page 146 |
Page 147 |
Page 148 |
Page 149 |
Page 150 |
Page 151 |
Page 152 |
Page 153 |
Page 154
