Your Daily Asia Gaming eBrief: New refinancing move approved by PH Resorts

Good Morning. And again….Emerald Bay. Much to be talked about as the group secured its re-financing, totaling $128 million, with intentions to finalize the Cebu-based project even as its talks with investors continue. In Entertainment City, City of Dreams Manila saw a massive first half-year, with gaming profit up 44 percent. Meanwhile, PAGCOR has announced that it garnered some $54 million in profit during 1H23, as domestic gaming booms and international travelers return.

What you need to know

• Board of directors of PH Resorts approves proposal to increase capital by $128 million to finish flagship IR in Cebu.
• City of Dreams Manila shines within the first half-year, with a 44 percent increase in gaming profit during the period.
• PAGCOR records some $54 million in profit for the first half-year, up 37 percent, as the nation continues its post-COVID rise.

On the radar

• Premium Leisure Corp sees 49 percent increase in net income in 2Q23.
• Summit Ascent providing $246 million to PH-based Suntrust.
• Osaka casino project already attracting foreign investors to invest.
• Cambodian casino mogul sees former partners deny affiliation.
• Macau got 349k package tourists in 1H23, still at 8.5 percent of 2019 levels.
• Steve Wynn pays $10 million fine to settle misconduct allegations.
• MGM Resorts appoints former Aristocrat strategy head to CSO role.

AGB Intelligence

PHILIPPINES

PH Resorts approves $128 million refinancing move

Industry Updates

• Wazdan starts the hunt for the Grand Jackpot with Mighty Wild: Panther.
• Videoslots now features 10,000 games on Its online casino.
• Sands ranks in the top 1 percent for ESG.

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