Friday, September 30, 2022


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Summit Ascent issues profit warning as Suncity moves toward control


Summit Ascent Holdings issued a profit warning and Q1 financial results on Tuesday, in coordination with a Suncity Group circular confirming their int

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MGM reports US$1 billion in operating losses for Q2


MGM Resorts International has reported a combined US$1 billion for the quarter ending on June 30 on the back of a 91 percent fall in net revenues.

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Scientific Games reports US$198 million net loss for Q2


Gaming industry supplier Scientific Games reported on Thursday its financial results for the quarter ending June 30, noting that the firm suffered a U

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Sands China reports US$549 million net loss for Q2


Las Vegas Sands reported its financial results for the quarter ending June 30 and, as expected, they were grim, including a net loss of US$549 million

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Macau casino operators face US$1 billion loss in Q2: Bloomberg


The six Macau concessionaires are likely to post collective EBITDA losses in the range of US$1 billion for the quarter ending June 30, according to a

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Start-time errors lead to biggest sports book loss in Vegas


Incorrectly entered start times on Korean and Chinese baseball matches lead to a quarter of a million in winning wagers at MGM Resorts over the weekend, in what may be the biggest loss ever in Las Vegas on games that have already started, according to...

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Macau Jockey Club loses US$188 million in 2019


The Macau Horse Racing Company, operator of the Macau Jockey Club, has reported MOP1.5 billion (US$188 million) in losses for the year 2019. The en

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Tourism, racing businesses announce job cuts


Major hotel chain Millennium and Copthorne Hotels is shedding 70 percent of its 1,300 staff as it expects two years before tourist numbers recover suf

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APE cancels lease agreements due to non-payment


Asia Pioneer Entertainment said it was cancelling lease agreements to casinos in Cambodia and the Philippines due to non-payment of rent and said it will write off about HK$26 million ($3.4 million)  in the first half as a result.

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Casino stocks jump on hopes for stimulus


Casino shares in the U.S. surged on Thursday on the expectation the U.S. government will provide assistance to the sector as part of its economic stimulus efforts.

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Imperial Pacific announces temporary casino closure


Imperial Pacific International, which operates the only casino on the island of Saipan, has reportedly announced the temporary shutdown of its property from 12 a.m. on Tuesday. 

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Victorian government rakes in A$1.6 billion from gambling losses


Victorians gambled away A$5.8 billion ($4.09 billion) during the past financial year while the state government received A$1.6 billion in taxes from g

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Crown Resorts’ main floor gaming revenue up 10 percent


Revenue from Crown Resorts' main floor gaming operations in Australia rose 10 percent from July to October 18, while non-gaming revenue grew by one pe

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Is Macau news as bad as it seems? Analysts assess latest headlines


Analysts are seeking to assess the implications of the latest run of bad news out of Macau, with Morgan Stanley remaining cautious, but concluding tha

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Landing International's revenue and losses grow in 15H1


Landing International, which is developing a casino resort on South Korea’s Jeju Island, saw its revenue increase 14.2 percent, while also seeing it

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500. com announced that its 15Q2 net revenues were nil, compared with RMB98.8 million ($15.9 million) in 15Q1, and RMB156.1 million in 14Q2. The compa

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Melco Crown Philippines posts big losses for 2014


Melco Crown Philippines, a subsidiary of Hong Kong-based Melco Crown Entertainment, posted net losses of P6.30 billion ($141 million), an increase of

C Y Foundation to miss gaming machine target and warn of further losses


Hong Kong-listed C Y Foundation Ltd warned investors it will not hit its target number of gaming machines in operation and that losses for the year en

AGTech losses for 2014 more than double


Lottery company AGTech reported total revenue of HK$211.1 million ($27.2 million) for 2014, up slightly on the year before, while losses for the year

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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