Galaxy Entertainment ready to move forward with Galaxy Macau expansion

Galaxy Entertainment signs a construction contract to get Phase 4 of the Galaxy Macau moving forward.

Okada Manila SPAC IPO a smart investor move, according to analyst

Okada Manila SPAC IPO a smart investor move, according to analyst

Malta contemplates issuing a fifth casino license

Malta contemplates issuing a fifth casino license

Nevada allows casinos to raise capacity to 35%

Nevada allows casinos to raise capacity to 35%

LATEST Casino ARTICLES

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Ethical questions at IPI lead lawyer to exit as chair held in contempt

By Erik Gibbs

23 February 2021

A lawyer representing Imperial Pacific steps down over possible “ethical violations”.

Businessman preparing

Richmond, VA, casino proposals begin to arrive ahead of public vote

By Erik Gibbs

23 February 2021

Several casino operators are hoping they can impress the local community enough with their plans for a new casino in the city.

Macau city

Macau recovery gains momentum as GGR up, travel restrictions down

By Erik Gibbs

23 February 2021

The final days of the CNY holiday week showed improvement for Macau’s casinos, with more to come as quarantines lifted.

brazil-tourism-minister-integrated-resorts-casinos

Brazil gov’t preparing land-based casino authorization proposal

By Steven Stradbrooke

21 May 2020

Connecticut’s tribal gaming operators will partially reopen their venues on June 1, much to the chagrin of the state’s governor. On Wednesday, the Mashantucket Pequot Tribal Nation and the Mohegan Tribe announced that they would “begin the reopening of portions” of their reservations, which include (respectively) the Foxwoods Resort Casino and Mohegan Sun, which were shut on March 17 to minimize spread of the COVID-19 coronavirus. https://calvinayre.com/tag/foxwoods-resort-casino/ https://calvinayre.com/tag/mohegan-sun/ The tribes say they collaborated on new safety protocols and operating procedures to minimize risks to both casino guests and staff, including protective equipment, physical distancing and mandatory masks for guests. Neither property will open its buffets, concert venues or poker rooms, while tenant restaurants will be open on a take-out only basis. The casinos also “will be catering to Connecticut and Rhode Island residents only.” No out-of-state buses will be “accepted” and “no out-of-state marketing to New York or Massachusetts will take place at either property,” although one suspects the odd VIP gambler from those states might just find a way through these roadblocks. The tribes might be in agreement but Gov. Ned Lamont called the decision to reopen an “incredible risk,” both for staff and guests, particularly “older people … with pre-existing conditions.” Lamont further claimed that “it’s risky for the region because you have a lot of employees that go back out into the region.” Mohegan Tribe chairman James Gessner responded to Lamont’s concerns by noting the tribes’ commitment to deter most out-of-state customers and their public statements about urging older customers to “take specific precautions and to stay home if they are part of an at-risk group.” Mashantucket Pequot chairman Rodney Butler told the Associated Press that state officials were welcome to tour the casinos and, if they can find “something that we’re doing in operations that we can do for the better, we’re certainly open to those conversation.” https://www.usnews.com/news/best-states/connecticut/articles/2020-05-21/tribes-open-to-suggestions-but-still-plan-to-reopen-casinos Whatever Lamont’s concerns, he’s effectively powerless to stop the federally recognized tribes from doing as they please on their sovereign territory – although he noted Thursday that the state controls their liquor licenses. And the tribes have their own concerns, given that the casinos are the primary economic engines of their peoples. MGE SEEKS $100M That economic urgency was underscored this week following reports that Mohegan Gaming & Entertainment (MGE) had missed a self-imposed deadline of May 11 to raise $100m. The company is looking to ensure its liquidity position as well as fund its expansion projects, including the Hellinikon integrated resort project in Greece. https://calvinayre.com/tag/mohegan-gaming-entertainment/ https://calvinayre.com/tag/hellinikon/ Bloomberg reported that MGE had offered to pay 14% interest for a new loan maturing in October 2021 but would-be lenders were spooked by a variety of factors, including around $400m of MGE debt that comes due in 2021 and questions over whether claims could be made on MGE assets on tribal land should the company default. https://finance.yahoo.com/news/mohegan-sun-tribal-owners-pushback-113044525.html The news will likely be used by US tribal gaming operator Hard Rock International (HRI), which still hasn’t gotten over the fact that MGE was chosen to build Hellinikon over HRI. https://calvinayre.com/2020/05/07/casino/greek-court-rejects-hard-rock-appeal-hellinikon-casino-license/

Connecticut governor calls casino reopening plans “incredible risk”

By Steven Stradbrooke

21 May 2020

kangwon-land-south-korea-casino-gaming-tables

Kangwon Land casino to get more tables, longer hours after lengthy shutdown

By Peter Amsel

20 May 2020

Brazils-casino-prospects-may-have-just-gotten-a-boost

Brazil’s casino prospects may have just gotten a boost

By Erik Gibbs

20 May 2020

macau-health-officials-deny-rumor-that-borders-are-set-to-reopen

Macau reportedly COVID-19-free and things are going to be different

By Erik Gibbs

20 May 2020

las-vegas-sands-is-the-top-us-casino-operator-says-fortune-magazine

Las Vegas Sands is the top US casino operator, says Fortune magazine

By Erik Gibbs

20 May 2020

India’s largest casino operator Delta Corp saw its revenue and profit slide in the final quarter of its fiscal year but the company is confident it can ride out the pandemic shutdown. https://calvinayre.com/tag/delta-corp/ On Monday, Delta Corp issued its report covering the three months ending March 31, the fourth quarter of its fiscal year. Revenue fell 10% year-on-year to Rs1.91b (US$25.3m), while pre-tax profits fell by more than one-half to Rs433m and after-tax profits fell 49% to Rs290.4m. Delta’s mainstay land-based casino operations in the states of Goa and Sikkim were forced to close in mid-March, which helped push the quarter’s gaming revenue down nearly one-fifth to Rs1.6b, while non-gaming hospitality revenue fell 24% to Rs179m. The company’s online ‘skill gaming’ operations fared better, rising nearly 22% to Rs453m. https://calvinayre.com/2020/03/18/casino/delta-corp-shares-tumble-goa-sikkim-casino-closures/ The figures weren’t much better on the full-year front, as revenue slipped 2.7% to Rs8.07b, pre-tax profit slid 18.6% to Rs2.56b and after-tax profit dipped 5.6% to Rs1.85b. The company’s shares lost 4.5% by the close of Monday’s trading. Delta has yet to learn when its Goa and Sikkim operations might resume, as Goa authorities announced Monday that it had seen a surge in imported COVID-19 cases since it relaxed some restrictions on inter-state movement. The state’s Chief Minister said Monday that it wouldn’t consider welcoming out-of-state tourists until at least May 31, and Goa’s residents aren’t allowed in the state’s casinos. All Goa casino operators, at least, the floating kind, did catch a break of sorts last month when the state issued yet another six-month extension of shipboard casinos’ right to operate on the Mandovi river. https://calvinayre.com/2020/04/23/casino/goa-casinos-six-month-stay-execution/ However long it takes to resume its Goa and Sikkim operations, Delta management said it was confident that it will be able to survive the enforced downtime, stressing its debt-free status and sufficient liquidity on hand to “honor its liabilities and obligations, as and when due.”

Delta Corp’s online gambling growth can’t offset casino closures

By Peter Amsel

19 May 2020

star-entertainment-confirms-massive-loan-to-complete-queens-wharf

Star Entertainment confirms massive loan to complete Queens Wharf

By Erik Gibbs

18 May 2020

silver-heritage-on-the-edge-of-bankruptcy-as-it-enters-administration

Silver Heritage on the edge of bankruptcy as it enters administration

By Erik Gibbs

18 May 2020

adrian-ho-to-lead-macaus-dicj-as-of-june-10

Adrian Ho to lead Macau’s DICJ as of June 10

By Erik Gibbs

18 May 2020

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