The Macau government is weighing in on the death of casino billionaire Sheldon Adelson at the age of 87. Sheldon Adelson is seen ...
China showing its commitment to stamping out cross-border gambling
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 ...
No restructuring plans for MGM China Holdings Limited
Asian casino operator MGM China Holdings Limited has reportedly responded to an earlier recommendation from one of its minority investors by announcing that it has no plans to begin restructuring its business. According to a report from Inside Asian Gaming, Hong Kong-headquartered Snow Lake Capital currently holds a 7.5% stake in MGM China Holdings ...
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MGM Resorts International urged to sell portion of MGM China Limited stake
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 ...
MGM Acknowledges Anxious Activist Investor, But Imminent China Stake Reduction Unlikely
MGM Resorts International (NYSE:MGM) confirms it received a letter from Snow Lake Capital Ltd. founder Sean Ma, but the gaming company isn’t rushing to trim its stake in MGM China Holdings (OTC:MCHVF) per the investor’s suggestion. ...
Snow Lake Capital Presses MGM to Sell 20 Percent of China Business
Sean Ma’s Snow Lake Capital Ltd. is urging MGM Resorts International (NYSE:MGM) to sell 20 percent of the Macau business. They suggest the stake go to a “leading” Chinese consumer internet or travel and leisure company to unlock shareholder value. The corporation is the largest institutional investor in MGM China Holdings (OTC:MCHVF). ...
China Testing State-Backed Cryptocurrency with Digital Cash Lotteries
China is using lotteries to test its new digital currency, DCEP (Digital Currency Electronic Payment). According to a notice from the government of Shenzhen, the city is preparing this week to conduct its second lottery to pay out prizes exclusively in the new currency, following a successful debut draw last October. ...
China to Levy Prison Sentences on Those Who Organize Gambling Trips
China has officially amended its Criminal Law to allow courts to issue prison sentences on people who are found guilty of organizing trips abroad with the intent to gamble. ...
China getting tough on foreign casino solicitation
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
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,” ...
Former Crown Resorts Employee Jenny Jiang Sues Over 2016 China Jailing
A former Crown Resorts admin assistant arrested and jailed in Shanghai in 2016 on suspicion of “gambling crimes” is suing her former paymaster. ...
Sands China Limited inks shared services agreement extension
In Macau and the Sands China Limited subsidiary of casino operator Las Vegas Sands Corporation has reportedly renewed the shared services agreement it holds with its giant American parent. According to a report from Inside Asian Gaming, the fresh arrangement is due to see Las Vegas Sands Corporation continue to provide its subordinate with ...
China Bans TripAdvisor App in Suspected Move Against Cross-Border Gambling
TripAdvisor was one of 105 apps blocked in China this week. The company was banned for “spreading obscene, pornographic, violent, bloody and other illegal information, and providing illegal services such as fraud, gambling and prostitution.” ...
MGM China Holdings Limited records third-quarter deficit
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 ...
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China looks set to get tough on foreign casino solicitation
In China and proposed federal legislation that would make it a crime for individuals or entities to encourage mainland citizens to gamble overseas reportedly includes a provision that could see guilty parties sentenced to a prison term of between five and ten years. According to a report from Inside Asian Gaming, the stiff punishment ...
China considering new penalties against foreign casino solicitation
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
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
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
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
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 ...
Sands China Limited records second-quarter earnings deficit
The Sands China Limited subordinate of American casino operator Las Vegas Sands Corporation has reportedly announced that its aggregated net income for the three months to the end of June plummeted by over 200% year-on-year to a deficit of $549 million. According to a report from Inside Asian Gaming, the Hong Kong-listed firm used ...
September expectations for Sands China Limited’s new The Londoner Macao
In Macau and the boss for local casino operator Sands China Limited has reportedly announced that the first stage of his firm’s $2 billion project to transform its giant Sands Cotai Central development into the new-look The Londoner Macao is expected to be finished by the end of September. According to a report from ...
MGM China Holdings Limited secures enlarged credit facility
Macau casino operator MGM China Holdings Limited has reportedly announced that it has been granted a new revolving credit facility that it will utilize to help its business survive the recent slowdown caused by the ongoing coronavirus pandemic. According to reports from Inside Asian Gaming and GGRAsia, the Hong Kong-listed firm used an official ...
Dividend decisiveness for MGM China Holdings Limited
Macau casino operator MGM China Holdings Limited has reportedly announced that its board has recommended spending just over $40.69 million so as to pay investors a final dividend on its 2019 financial performance. According to a report from GGRAsia, the Hong Kong-listed firm revealed that the award, which would represent around 16.3% of its ...
MGM China Holdings Limited suffering from coronavirus fears
The price of shares in Asian casino operator MGM China Holdings Limited reportedly fell to its lowest level in just over four years on Tuesday due to investor anxieties over the ongoing outbreak of a coronavirus strain that has so far killed over 4,750 people around the world. According to a report from Inside ...
