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MGM Resorts International Announces Extension Of Macau Gaming Sub-Concession To June 2022

George Miller

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MGM Resorts International Announces Extension Of Macau Gaming Sub-Concession To June 2022
Photo Source: vietnamgaming.vn
Reading Time: 2 minutes

 

MGM Resorts International announced  that on March 14, 2019, MGM Grand Paradise Limited, a wholly owned subsidiary of MGM China Holdings Limited, an indirect majority-owned subsidiary of MGM Resorts, and Sociedade de Jogos de Macau, S.A. (“SJMSA”) entered into a Sub-Concession Extension Contract (the “Extension Agreement”), pursuant to which the gaming sub-concession of MGM Grand Paradise, which is due to expire on March 31, 2020, would be extended to June 26, 2022, which coincides with the expiration date of all the other concessionaires and sub-concessionaires.

“We are grateful for the support of the Macau government to have authorized and extended our sub-concession to now align with the rest of the market,” said Jim Murren, Chairman and Chief Executive Officer of MGM Resorts and Chairperson of MGM China. “We continue to believe in the long-term success of Macau. As the region continues to grow into an international leisure and tourism destination, MGM China remains committed to supporting this vision through our one-of-a-kind experiences in art, entertainment, and diverse food and beverage programming, as well as our stunning Mansion villas at MGM Cotai, which open later this month.”

In connection with the extension, MGM Grand Paradise will pay the government of Macau MOP200 million (equivalent to approximately HK$194.17 million or US$24.73 million) upon signing of the Extension Agreement as contract premium for such extension.

In addition, on March 14, 2019, MGM Grand Paradise also executed the MGM SJM Agreement with SJMSA, pursuant to which MGM Grand Paradise shall pay SJMSA an amount of MOP20 million (equivalent to approximately HK$19.42 million or US$2.47 million) in connection of the extension of the sub-concession.

 

About MGM Resorts International:

MGM Resorts International (NYSE: MGM) is an S&P 500® global entertainment company with national and international locations featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings. MGM Resorts creates immersive, iconic experiences through its suite of Las Vegas-inspired brands. The MGM Resorts portfolio encompasses 29 unique hotel and destination gaming offerings including some of the most recognizable resort brands in the industry. Expanding throughout the U.S. and around the world, the company acquired the operations of Empire City Casino in New York in 2019, and in 2018, opened MGM Springfield in Massachusetts, MGM COTAI in Macau, and the first Bellagio-branded hotel in Shanghai. The over 82,000 global employees of MGM Resorts are proud of their company for being recognized as one of FORTUNE® Magazine’s World’s Most Admired Companies®. For more information visit us at www.mgmresorts.com.

 

About MGM China Holdings Limited:

MGM China (SEHK: 2282) is a leading developer, owner and operator of gaming and lodging resorts in the Greater China region. We are the holding company of MGM Grand Paradise, SA which holds one of the six gaming concessions/sub-concessions to run casino games in Macau. MGM Grand Paradise, SA owns and operates MGM MACAU, the award-winning premium integrated resort located on the Macau Peninsula and MGM COTAI, a contemporary luxury integrated resort in Cotai, which opened in early 2018 and more than doubles our presence in Macau. MGM China is majority owned by MGM Resorts International.

 

Source: MGM Resorts International

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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9stacks Launches Pokerface With Gopal Datt: India’s First Poker Chat Show

George Miller

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9stacks Launches Pokerface With Gopal Datt: India's First Poker Chat Show
Reading Time: 2 minutes

 

Pokerface with Gopal Datt is a first-of-its-kind poker chat show which celebrates the lives and stories of poker players. This first episode can be watched on the 9stacks YouTube Channel here. Episode 2 of the series was released on Friday, 17th May 2019, on the 9stacks YouTube channel. The episode that has Datt interview poker heavyweight Deepak Bothraand TVF Bachelors fame Badri Chavan, can be watched here.

The twist is that each episode features one actor/celebrity and one poker player, and gets both to spill the beans about their journey to fame and fortune. In a fun way, this draws parallels between the featured celebrities and poker players and celebrates the achievements of both guests.

The first episode of the show, hosted by Gopal Datt (the Internet’s very own funny man), features Amol Parashar, of TVF Tripling fame, and one of India’s top poker players Nishant Sharma. Last year Nishant won the highest ever prize money by an Indian poker player at the World Series of Poker Main Event in Las Vegas.

Nishant, along with fellow poker pro Vivek Rughani, was part of the 9stacks Team India at the World Series of Poker and they became the first two Indians to enter the top 100 in the prestigious WSOP Main Event. Read the article here.

In the episode, Nishant speaks candidly about achieving his poker dreams and how he became a ‘Hero’ for other players in the industry. Many players now come to him for advice on their gameplay and some even ask him for selfies. His ‘Bina Darre’ playing style has won many hearts.

Nishant is accompanied by the celebrated actor Amol Parashar, who is also an avid poker player himself. An IIT Delhi alumnus, Amol was always into acting and was very interested in theatre. Amol recalled how his poker skills helped him sniff out a bluff early in his career: “Once I was offered a film with big casts like Mr. Amitabh Bachhan, Naseeruddin ShahSharman Joshi. Since I was new in the industry, I was asked to attend the workshop for the same where I was asked to pay Rs. 15,000 as room rent. I couldnt help but smell a bluff there. I mean, after all, if they were such a big film company, they surely wouldn’t ask me to pay Rs. 15,000 to book a room to rehearse in, right?”

Many more revelations came in the rapid fire segment of the show where the answers were ‘rapid and full of fire’. Unlike Koffee with Karan, the guests here got a lot of love instead of hampers!

 

Source: 9stacks

 

About 9stacks:

9stacks is India’s fastest growing online poker platform which provides a fun gaming experience with its easy-to-use interface, fastest withdrawals, attractive promotions and leaderboard prizes.

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Interblock Renews its ETG Lease Deal with PAGCOR for an additional 3 Years

George Miller

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Interblock Renews its ETG Lease Deal with PAGCOR for an additional 3 Years
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Luxury gaming manufacturer and electronic table game (ETG) market leader Interblock® announced the renewal of its ETG lease deal with the Philippine Amusement and Gaming Corporation (PAGCOR) for another 3 years via its long term partnership with Indepth Insights Inc. (Indepth).

Interblock together with its local agent, Indepth, inked the very first ETG revenue-share lease deal with PAGCOR in June of 2015 at 12 PAGCOR operated casinos for a period of 3 years. As part of the deal Interblock supplied, installed and maintained 192 G5 Diamond play stations with fully automated Roulette and video Baccarat Stadiums. At the end of December 2018 the total number of seats had increased to 204 G5 Diamond play stations spanning across 14 PAGCOR operated casinos throughout major cities in the Philippines.

Interblock’s President of Asia Pacific, Michael Hu, said: “The revenue generated from our first installations had increased strongly from month to month through our continuous performance appraisals. It is with great honor that through our partnership with Indepth and PAGCOR and their continued support of our ETG products we have been able to extend the lease agreement for another 3 years, through January of 2019. This is a win-win partnership combination.”

 

About Interblock

Interblock® is a worldwide leading developer and supplier of luxury electronic table gaming products. Its multi-player gaming devices set industry standards and provide the ultimate in luxury interactive entertainment experiences. The Interblock brand is globally recognized for diamond quality gaming solutions and technical support in more than 200 jurisdictions. Interblock’s exclusive collection of fully and semi-automated electronic gaming tables and video gaming solutions provide casinos, arcades and gambling halls with superior product performance and their guests with an unforgettable gaming experience.

 

 About PAGCOR:

The Philippine Amusement and Gaming Corporation (PAGCOR) is a 100% government owned and controlled corporation under the Office of the President of the Republic of the Philippines through the Presidential Decree 1067-A.  This was in response for the Philippines Government to put a stop to the growing proliferation of illegal casino operations in various parts of the country.  The law creating PAGCOR was later amended and consolidated under PD 1869 otherwise known as the PAGCOR Charter.  In June 2007, Republic Act No. 9487 was passed by the Philippines Congress, extending the corporate life by 25 years, renewable for another 25 years.  Currently, PAGCOR operates 9 casino branches and 31 satellite casinos in major cities across the country’s three major islands.  For more information, visit http://www.pagcor.ph.

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MGM Resorts and Orix announces formal bid for Osaka IR

Niji Narayan

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MGM Resorts and Orix Announces formal bid for Osaka IR
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MGM Resorts International, the US casino operator, is going to develop an IR in Osaka with the local partner Orix.

Osaka prefecture and city is aiming to open an IR in 2024, with the public offering for submission of a concept starts on 24 April. Participant registration will remain open until 24 May with the formal offering for bidders to take place in the Fall. The winning bid is expected to be announced in Spring.

“We are hoping to see many Kansai corporations participate in our business effort, regardless of their size, in order to express the local flavor,” Ed Bowers, CEO of MGM Resorts Japan said.

He describes Orix as “an excellent company deeply rooted in Kansai. Their passion really stood out in their research and study of an IR.”

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