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Genting and Galaxy pull out of Osaka IR race ASIA & OCEANIA


Both Genting Singapore and Galaxy Entertainment have pulled out of the race to acquire a casino IR licence in Osaka, leaving MGM Resorts the lone runner


Las Vegas Sands, Melco Resorts & Entertainment and Wynn Resorts have all previously left the Osaka race to focus on potential projects in Yokohama instead.


JAPAN OPERATIONS


CAMBODIA – NOVOMATIC, through its distributor in Cambodia Indo Pacific Gaming (IPG), has brought its Enchanted Fortunes Linked Jackpot to multiple locations around Cambodia. With large signage that creates a big impression on the casino floors, the linked progressive jackpot has been introduced on the latest Panthera Curve 1.43 cabinet that features a 43ins. curve screen. Game titles include the Fortunes series such as Asian Fortunes, Voodoo Fortunes, as well as leading games Book of Ra Mystic Fortunes and Goddess Rising.


Loren Stout, VP of Operations and Sales IPG, said: “Our customers and partners are very pleased with the new NOVOMATIC installations thus far. Comments are positive, and we are continually impressed with the performance of the machines.”


Sonya Nikolova, VP Sales Asia & Africa, added: “The new game concepts and latest range of slot machines introduced to the markets in South-East Asia have been designed with the aim to respond to customer demand, but also to prove the strategic approach of NOVOMATIC to strengthen the brand recognition and customer satisfaction in the region. The efforts of our partners in supporting our mission are highly appreciated.”


SINGAPORE – As it gears up for the 10th anniversary of Resorts World Sentosa in March 2020, Genting Singapore confirmed a nine per cent year-on-year decline in revenue to SG$607.2m (US$438m) for the three months to December 31 2019, with a 13 per cent drop in casino revenue at Resorts World Sentosa, blamed on a higher entry levy introduced in April 2019.


Its fourth quarter results included an 18 per cent fall in mass market revenues to SG$322m (US$232m) with VIP fairing better coming in at a similar level as 2018 at SG$277m (US$200m). The Group described its financial performance as 'stable' with profit for the quarter at $155.9m, an increase of four per cent compared to the corresponding period last year. As it looks to begin its $4.5bn mega expansion of the resort to be called RWS 2.0, it warned of the effects of the Coronavirus outbreak on its quarter.


Design and planning for RWS 2.0 is 'well under way.' Once A Pirate, an immersive dining and performance concept on the adventures of Asian pirates, is on track to open in late 2020. Construction of the rest of the project continues in March, while the Maritime Experiential Museum will be completely renovated to be the new extension of the S.E.A. Aquarium. Leading the transformative journey to enliven the southern corridor of Singapore, RWS 2.0 will be a major catalyst for urban rejuvenation, spurring a new wave of tourism growth for the next decade.


P32 NEWSWIRE / INTERACTIVE / MARKET DATA


Both Genting Singapore and Galaxy Entertainment have pulled out of the race to secure a casino IR licence in Osaka, leaving MGM Resorts and its local partner Orix in sole position if the Osaka Prefectural Government is awarded a licence. Las Vegas Sands, Melco Resorts & Entertainment and Wynn Resorts have all previously left the Osaka race to focus on potential projects in Yokohama instead.


Galaxy and its partner Monte-Carlo Société des Bains de Mer had recently completed a comprehensive Request for Concept (RFC) submission and business feasibility study in Osaka before opting to withdraw.


Galaxy Vice Chairman Francis Lui said: “We have greatly appreciated being able to play an active role in the RFC stage and enjoyed the in- depth discussion this afforded us – in particular, being given the opportunity to listen, learn and share our vision for how this new industry could benefit the city of Osaka, the business community, its citizens and the wider economy of Japan. However, after deep reflection, we decided at this time that our focus should be on other potential locations in Japan, including among others, Yokohama.


Ladbrokes receives NSW's largest ever fine for illegal advertising


Australia


In the biggest ever fine of its kind in New South Wales, Ladbrokes and Neds have been convicted and ordered to pay a total of $207,500 for offering illegal gambling inducements to NSW residents. Under current NSW law, wagering operators found guilty of promoting inducements to gamble and face fines of up to $110,000 per offence and company directors can be criminally prosecuted.


Following an investigation by Liquor & Gaming NSW, Ladbrokes, which owns Neds, was fined in Downing Centre Local Court for each of four Ladbrokes and two Neds advertisements they ran


“We informed the Osaka City Integrated Resort Promotion Bureau of this decision well ahead of the 14 February deadline for application to participate in the RFP and the City were understanding and appreciative of the efforts we made in assisting them with the process to date. We remain fully committed to Japan, to assist the Government to achieve their tourism and economic goals and we believe GEG’s healthy balance sheet and track record in developing and operating the world’s most successful IR, combined with SBM’s 150-year track record in creating the world’s first IR destination at Monte-Carlo, can make that a reality. We wish Osaka well as it continues on its path and we look forward to continuing in our bid for a license in Japan.”


Genting Singapore said: “After careful consideration of the opinions of many shareholders, we regret that we will not continue our participation in the Osaka IR Project. Tis is a tough decision for us, and it’s unfortunate after the many exchanges we have had with everyone in Osaka. In the future, Genting Singapore will focus on participating in the Yokohama IR request for concept (RFC), which is currently underway.”


across Channel 7, Instagram and Facebook in 2018. Te advertisements offered bonus bets for a smaller deposit, such as a deal to “Deposit $50, get $250 in bonus bets.” Tese bonus bets only applied to people who opened new betting accounts.


Liquor & Gaming NSW A/Director of Compliance, Dimitri Argeres, said the clear inducements to gamble and open a betting account were accessible to all users on social media. “Inducements are known to increase the risk of gambling harm and these advertisements reached a broad segment of the population,” Mr Argeres said. “In NSW such advertisements are restricted to registered betting account holders. Tis record fine should serve as a reminder that betting operators have an obligation to ensure their gambling advertising complies with NSW laws.”


China


Te Coronavirus is likely to wipe off 95 per cent of February's GGR in Macau with a strong likelihood that the 15-day closure might not end the uncertainty for operators. Sanford Bernstein analysts Vitaly Umansky, Eunice Lee and Kelsey Zhu, said: “Forecasts for the near term are largely guesses at this time, with the biggest variables being when casinos reopen, and even more importantly, when travel restrictions from China will be lifted. We estimate February to be down over 95 per cent, assuming the casinos stay closed for the rest of the month. China has put in travel restrictions across much of the country and many businesses remain closed or reduced working hours. A growing number of countries have been implementing travel restrictions on entrants coming from China and airlines are significantly reducing scheduled flights.


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