Asia

WA Hospitality forays into Cambodia’s casino sector

Published

2 years ago

February 27, 2019

Niji Narayan

Cambodia Braces for 2020 Budget Hit After Ban on Online Gambling

Photo Source: voanews.com

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Malaysian hotel operator WA Hospitality has announced the plans to enter Cambodia’s casino and hospitality market through a partnership with Won Majestic, a well-known real estate developer in Cambodia.

Both the companies have signed a memorandum of understanding for the purpose.

The property is being developed. It will feature will feature a five-star hotel, 270 apartment units, 313 grade A offices, retail spaces, a 2,500-square-meter casino, food and beverage outlets offering a wide variety of food—from Chinese to Western cuisine, and a sky bar overlooking the city of Sihanoukville. With its 28 stories, the resort’s building will soar 120 meters above ground.

WA Hospitality was established in 2015 as a subsidiary of UK travel and hospitality group World Avenues. Its agreement to operate the Sihanoukville resort represents the first international contract won by WA Hospitality.

Commenting on their entry into Cambodia’s hospitality market, WA Hospitality Executive Director Ally Bhoonee said that Won Majestic will not be the “typical casino hotel” and that their concept for the property involves offering “entertainment and excellent personalised service.” The executive went on to say that they expect 80 per cent hotel occupancy during the resort’s first year of operation and that they will be targeting upmarket free independent travellers from China and Southeast Asia.

Asia

Donaco Reopens DNA Star Vegas

Published

20 hours ago

September 28, 2020

Niji Narayan

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Donaco International has reopened DNA Star Vegas with limited operations on September 25.

Donaco does not expect any material additional expenses to be incurred following the limited reopening of the casino as the border with Thailand, where most of the casino’s patrons have traditionally originated, remains closed.

The company will continue to maintain its tight cost control strategy, while operations remain at limited operating capacity – and management will maintain the discretion to tailor up or down the pace of operations to local conditions.

Asia

Macau Lawmaker Jose Maria Pereira Coutinho Calls for Legalisation of Online Gambling

Published

1 day ago

September 28, 2020

Niji Narayan

Macau Lawmaker Jose Maria Pereira Coutinho Calls for Legalisation of Online Gambling

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Macau lawmaker Jose Maria Pereira Coutinho has urged the enclave government to legalise online gambling in order to help overcome the economic challenges brought about by the COVID-19 pandemic.

“Macau should introduce interactive gaming. The Macau SAR government should establish official standards and regulations on interactive gaming, and develop interactive gaming software together, in order to increase revenue from gaming tax and to further develop gaming industries,” Coutinho said.

Gross gaming revenue in Macau is down 81.6% January through August, casino win totalling roughly $4.5 billion. The six licensed casino operators in the Chinese Special Administrative Region won approximately $24.8 billion during the same eight months in 2019.

Taxes from casino gambling account for nearly 90% of Macau’s government revenue. With the money plummeting due to the coronavirus, and the enclave largely isolating itself from the rest of the world, including the mainland, Coutinho believes taking casinos online is a viable remedy.

Asia

IEC Secures Casino Licence in Manila

Published

5 days ago

September 24, 2020

Niji Narayan

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Hong Kong-based International Entertainment Corporation (IEC) has obtained a provisional licence to operate a casino in Manila.

In June the firm, which operates New World Manila Bay Hotel and Casino through its subsidiary Marina Square Properties (MSPI), said it planned to redevelop an unnamed existing hotel to create a new integrated resort (IR) in the capital.

In a filing on Friday, it confirmed it has received a letter from the Philippine Amusement and Gaming Corp (PAGCOR) conditionally approving the issuance of a provisional licence.

The firm said: “MSPI and PAGCOR will further negotiate for the terms of the provisional licence agreement to be entered into between PAGCOR and MSPI in relation to the grant of the provisional licence.

“As and when there is further development in relation to the provisional licence agreement, the company will comply with all relevant requirements, and where necessary, make further announcements in accordance with the Listing Rules as and when appropriate.”