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Cotai to make a huge impact with the gross gambling revenue expected to achieve record-breaking figures in 2019

Athira A

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Photo credits: macaogamingshow.com
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The gross gaming revenue in Cotai registered a growth from 45.5 percent of Macau’s total in 2014 to 61.4 percent at the end of 2017’s fourth quarter.

With the flourishing of gambling in Macau, has highly influenced the growth of the Cotai district. During the fourth quarter of 2017, GGR in Macau was mainly pushed by Cotai’s figures, which amounted to 61.4 percent of the total rake.

The major contribution from  Cotai meant a 15.9 percent improvement from the first quarter of 2014 when it reached 45.5 percent. It was also matched with an 11.3-point escalation in all four- and five-star hotel rooms’ percentage contributed by Cotai during that time, hiking from 47 to 58.3 percent.

Information was revealed by Melco resorts through an investor presentation which also reports that Cotai’s share of Macau mass-market GGR rose to 64.2 percent by the end of 2017 from 51.3 percent in Q1 of 2014.

Melco operates two venues in Cotai: City of Dreams Macau – which will add a fifth hotel tower with space for premium mass gambling tables – and Studio City, the facility that has offered VIP gambling since 2016.

According to Bloomberg, gross gambling revenue is anticipated to achieve record-breaking figures in 2019 and jump by 14 percent during next year. After what Melco’s report revealed, expect Cotai to make a huge impact in the upcoming growth.

 

Athira is a self-described “logophile” – a lover of words. She loves updating her vocabulary and playing around with words, to frame a sensible world of letters. Letters come alive when they become words and when words become sentences. And that’s her job, to put them together in a meaningful way without loosing its essence. She has written content for websites, articles and poems for an international magazine, and press releases as well. She also loves writing on social media. She holds a Masters degree in bio-technology, but she has always been interested in the organic farming of words. Besides writing content for our daily news feed, she is also working as staff writer/editor with Impressions Content Management, based in Kerala, India, which offers writing and editing services to clients around the world.

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Asia

Hokkaido’s prospects to win Japanese IR bid in doubt

Niji Ng

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Hokkaido’s prospects to win Japanese IR bid in doubt
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Harumi Takahashi, the governor of Hokkaido Prefecture in Japan, has announced that she will not be contesting for a fifth term next spring. Her departure would land a serious blow to prospects the prefecture becoming an IR destination.

Her departure means that there will be a new governor in Sapporo next spring. Most likely it will be a contest between a conservative ruling party-backed candidate and a united opposition candidate, though no one has yet declared.

Pro-IR forces are thus losing the power of incumbency in a prefecture in which opposition parties have historically performed better in elections than they do at the national level.

Next spring, the unified local elections will include both the gubernatorial race and the assembly elections. Conservative forces will likely need to win both contests for the IR plans to go forward.

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Asia

Operator Donaco to conduct a strategic review

Niji Ng

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Operator Donaco to conduct a strategic review
Photo Source: asgam.com
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Donaco International, which operates of Star Vegas Resort and Club and other locations in Vietnam and Cambodia, is planning to conduct a strategic review of its activities, as its present share price is not in sync with its assets.

In a statement issued last week, Donaco said that it is considering various ways to eliminate or restructure its bank debt and free cash flow to conduct capital management initiatives. The total debt owing is US$39.9m, secured against the assets of the Star Vegas business, not its Aristo business.

It said that discussions are under way with “several parties” who have put forward proposals to unlock the value of the company’s assets and provide value to shareholders. It is expected that the strategic review will be issued in around three months.

The Star Vegas Resort and Club is a casino in Poipet, Cambodia, on the border with Thailand and was established in 1999. It is the largest of the Poipet casino hotels with more than 100 tables and 1400 slots. The Aristo International Hotel is a casino in northern Vietnam, close to the Chinese border, and was established in 2002. It is now a five-star casino resort with 400 rooms.

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Asia

Illegal gambling ring collected in Singapore collected $20m in 9 years

Niji Ng

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Illegal gambling ring collected in Singapore collected $20m in 9 years
Image Source: robsimple.wordpress.com
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An ongoing court case in Singapore revealed that an illegal gambling syndicate had collected between $9.7 million and $20.2 million from its customers in a span of nine years starting from 2007.

Lim Teng Kok, one among the operators, pleaded guilty to three offences under the new Organised Crime Act, which was passed in Parliament in 2015 and took effect in June 2016.

Lim, 68, also admitted to two other charges involving illegal gambling activities.

There were allegedly more than 30 persons involved in illegal remote gambling services. All of them were arrested.

DPP Teo told District Judge Ng Peng Hong: “The accused would get a commission of 10 per cent of the total bets collected from his own punters. If the accused’s punters struck lottery, he would receive an additional 5 per cent of the winning amount.”

She added that Lim later had 80 punters placing illegal bets with him. Over time, he became a “master agent” and recruited a pool of about 15 agents under him. These agents would then collect illegal bets from punters.

The court heard that Lim earned more than $200,000 in commission between 2007 and 2015 in total.

DPP Teo urged Judge Ng to sentence him to five years and four months’ jail with a fine of $288,000. She said the court should send a strong message to deter others from committing similar offences.

Defence lawyer Steven Lam pleaded for his client to be handed a jail sentence of between three years and eight months and four years, with a $200,000 fine. He said Lim committed the offences due to dire financial circumstances and had to raise funds to treat his daughter’s kidney failure.

Lim was offered bail of $15,000 and is expected to be sentenced on Jan 15 next year.

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