Asia News - Page 15

The Okada Group will move continue with its plan to build a casino complex in Manila.

Crown Resorts planned resort will not be opposed by the Sri Lankan government if an existing casino licence is utilized.

A Japanese civil servant wants his gambling losses treated as a tax deductible business expense.

New system allows people to self-exclude from non-casino gambling venues as well as the two large casinos.

Macau’s Gaming Inspection and Coordination Bureau said Friday casinos collected $3.9 billion in gaming revenue during April, a 10.6 percent increase over April 2013.

More than half of Las Vegas Sands’ quarterly revenue — $2.02 billion — came from its Macau resorts.

Chairman Sheldon Adelson said there is no reason to believe the market — China’s only legal gambling jurisdiction — will slow down any time soon.

Macau’s gaming market grew revenue 13.1 percent during March with $4.4 billion collected in gaming revenue, according to figures released Tuesday by the Gaming Inspection and Coordination Bureau.

It makes sense that the region — the only location in China with casinos — is creating more gaming industry billionaires than Las Vegas.

CEO Keith Smith used a fourth-quarter conference call Wednesday to express Boyd Gaming’s interest in the potential Japanese casino market.

Rolling Chip Turnover for February 2014 at the company’s VIP rooms in Macau was US$1.73 billion, up 34% year-over-year, compared to February 2013.

Casinos in Macau collected $4.8 billion from gamblers attracted to the market for the Chinese New Year celebration in February.

February 2014 was a record month for Macau, with an astonishing 40 percent rise in revenue.

The state Supreme Court ruled Thursday that the Las Vegas Sands, headed by Sheldon Adelson, does not have to give confidential company information to Steven Jacobs, the fired former president of Sands Macau because the matter already was decided in district court.

Adelson says Las Vegas Sands are ready to invest in casino in Japan.

Both markets were far behind Macau, the world’s largest gaming destination, which produced a record $45.2 billion in gaming revenues last year.

The Macau casino market ended 11 straight months of double-digit gaming revenue increases in January and recorded its lowest single-month growth rate since October 2012.

“The numbers as usual speak for themselves,” Steve Wynn, chairman and CEO of Wynn Resorts, told analysts in a conference call.

Buoyed by a 28 percent increase in revenue from its Macau subsidiary during the fourth quarter, the casino operator grew profits by 32.8 percent companywide for the three-month period ended Dec. 31.

Analysts and gaming leaders consider it a foregone conclusion that Japan, after years of toying with legalizing casinos, will finally approve a gaming bill this spring.