Tag Archives China

China showing its commitment to stamping out cross-border gambling

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Police in China reportedly arrested over 75,000 people last year as they busted up more than 3,500 illicit cross-border gambling cases alongside some 2,260 that had involved forbidden iGaming platforms. According to a report from Inside Asian Gaming, these figures were contained in a recent update from the giant nation’s Public Security Ministry as ...

MGM Resorts International urged to sell portion of MGM China Limited stake

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In Macau and a prominent investor in local casino operator MGM China Limited has reportedly urged the enterprise’s majority shareholder, MGM Resorts International, to sell up to 20% of its own stake to one of a number of Chinese enterprises. According to a report from Inside Asian Gaming, Hong Kong-headquartered alternative investments firm Snow ...

China getting tough on foreign casino solicitation

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In China and the standing committee of the National People’s Congress has reportedly approved new legislation that is to bring in tough penalties for anyone found guilty of facilitating overseas gambling. According to a report from GGRAsia citing an earlier story from the state-run Xinhua news agency, this third and final endorsement means that ...

Sands China Ltd set to open first phase of British-themed The Londoner Macao

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Macau integrated resort developer and operator Sands China Ltd (HKEx: 1928), has confirmed the launch of the first part of the phased opening of The Londoner Macao, its US$2 billion reimagining of the Sands Cotai Central. Announced via press release on Tuesday, the company said an official ceremony will be held in “early February,” ...

MGM China Holdings Limited records third-quarter deficit

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The MGM China Holdings Limited subsidiary of American casino operator MGM Resorts International has reportedly released its third-quarter financial results showing that net revenues tumbled by 93.7% year-on-year to just over $46.83 million. According to a report from Inside Asian Gaming, the drop meant that the firm’s adjusted earnings before interest, tax, depreciation and ...

China considering new penalties against foreign casino solicitation

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In China and federal legislators are reportedly considering a number of measures that would bring in stiffer penalties for any firms or individuals found guilty of soliciting citizens into gambling overseas. According to a story from Inside Asian Gaming citing an earlier report from the state-run China News Service, the amendments to the country’s ...

PokerStars announces iGaming exit from China, Macau and Taiwan

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As part of an ongoing effort to improve its compliance standards, giant online casino and sportsbetting operator Flutter Entertainment has reportedly announced the exit of its PokerStars iGaming brand from China, Macau and Taiwan. According to a Monday report from CalvinAyre.com, the London-listed firm declared that the move is part of a company-wide campaign ...

China creates new cross-border gambling tourist destination blacklist system affecting southeast Asian nations

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The Ministry of Culture and Tourism in China has created a blacklist of destinations for overseas tourists that they feel are disrupting the outbound tourism of the nation. Such destinations are opening casinos that target individuals from mainland China. A statement issued this week revealed that the new system was created in conjunction with ...

China to begin issuing Macau travel visas from August 26

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Government officials in mainland China have reportedly announced that they are to once again begin allowing residents of Guangdong Province to visit Macau utilizing Individual Visit Scheme (IVS) and group travel visas from August 26. According to a report from Inside Asian Gaming, China’s National Immigration Administration additionally revealed that both of these facilities ...

MGM China Holdings Limited details dire second-quarter financials

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The MGM China Holdings Limited subsidiary of American casino operator MGM Resorts International has reportedly released its second-quarter financial results showing that its net revenues tumbled by 95% year-on-year to just $33.2 million. According to a report from Inside Asian Gaming, business at the operator’s two venues in Macau has been severely damaged by ...