Your Daily Asia Gaming eBrief: Aruze America files for Chapter 11 bankruptcy

Friday 3rd of February 2023

Good morning. Aruze Gaming America has announced that it is filing for Chapter 11 bankruptcy in a bid to undergo a financial restructuring. Despite the announcement, the group claims it has "no reflection on the health of Aruze" and that it plans to continue to operate normally. Meanwhile, Konami's gaming arm saw a strong first three quarters, ending December 31st, with profit up 54 percent and revenue topping $216 million. And Hong Kong is launching "the world's biggest welcome ever", offering 500,000 free airline tickets to travelers in a bid to try and seize back part of its crown lost to Singapore during the pandemic.

What you need to know

Aruze America has filed for Chapter 11 bankruptcy in a bid to undergo financial restructuring. The company claims it will continue to operate normally and "emerge stronger".
Konami's gaming arm records a 54 percent increase in profit for three quarters ended December 31st, with revenue of over $216 million.
Hong Kong launches "world's biggest welcome ever", giving out 500,000 free airline tickets in bid to bring back visitors and the business community.

On the radar

Paradise Co sees 168 percent yearly increase in Jan. casino revenue.
PAGCOR Chairman confident in continued revenue growth in coming years.
Simon Westbury appointed as CEO of Digitain’s Sport Generate.
Australian Retirement Trust boosts investment in The Star to 5.65 percent.
IGT confident after receiving first-ever ‘BB+’ issuer rating from Fitch.

AGB Intelligence

BANKRUPTCY

Aruze America files for Chapter 11 bankruptcy

Aruze America has filed for Chapter 11 bankruptcy in a bid to undergo a financial restructuring. Despite the announcement, the company claims that it will continue to operate normally and that the filing 'has no reflection on the health of Aruze'. The news comes after the company's US branch president also departed.