ChinaRealNews

Taiwan passes bill to legalise gambling outer islands

2009-01-13 Taibei
 
Taiwan's Legislative Yuan has passed a bill to legalise gambling on its outlying islands, joining a growing number of Asian markets taking a similar route to boost tourism and speed up economic development. The move paves the way for the economically depressed Penghu archipelago in the Taiwan Strait, and possibly even Quemoy and Matsu near Fujian , to press ahead with planning for casino resorts. Passage of the bill yesterday, despite strong protests from religious groups and opposition legislators, could give the Penghu Islands a chance to compete eventually with other East Asian gambling hot spots such as Macao and South Korea, and upcoming casinos in Singapore.

Macao's casino revenue slides

 2008-10-21 Macao

Macao's casino revenue dropped for a second straight quarter, as China's government tightened visa restrictions for its citizens traveling to the city. Gambling revenue fell 10 percent to US$3.2 billion in the third quarter, according to Macao's Gaming Inspection and Coordination Bureau. Analysts said that restrictions on visa approvals for mainland travelers to the tiny enclave have been smothering Macao’s major source of revenue, and it started before the financial crisis intensified.

Problems found with Hong Kong Jockey Club’s EPS transfer service

2008-09-16 Hong Kong
 
Following complaints about failed Octopus EPS add-value transactions last year, citizens recently found similar problems with the EPS transfer service provided by the Hong Kong Jockey Club. An industry expert said that the EPS system may have defects and risks remain with transactions to be processed through the system. Octopus has already ceased its EPS add-value service, and the Hong Kong Jockey Club promised to launch an investigation into the issue.
 

Leong Iok Wa urges Macao government to implement identity measures in casinos forcibly

2008-08-08 Macao
 
Legislator Leong Iok Wa urged the Macao SAR government to force rather than just advise six gaming enterprises in Macao to implement identity measures among all the operators. According to her inquiry, the authority should have a powerful response mechanism to solve the problem when receiving complaints from citizens. In addition, responsible organizations should check mechanisms for operators actively and inspect related casinos periodically.

Gaming revenue fell 6.9% in July due to tightening policy

2008-08-07 Macao
 
Gaming revenue in Macao fell 6.9 percent in July from a month ago to MOP9.26 billion, probably affected by the tightening policy on the individual travel program. Credit Suisse degraded its rating for Galaxy Entertainment to “underperform”, with a target price of HK$3.10, while gave an “outperform” rating for Melco International, with a target price of HK$6.90.
 

Macao legislator urges to prohibit expatriate workers from being employed by gaming companies for non-technical positions

2008-08-05 Macao
 
Macao Legislative Assembly member Ng Kuok Cheong recently urged to prohibit expatriate workers from being employed by gaming companies for non-technical positions, in a move to protect the interests of local workers. According to Ng, local people fail to benefit from the economic boom bolstered by Macao’s gaming sector, as a large number of expatriate workers are employed by casino operators and related hotels.
 

Galaxy Entertainment Group share price up slightly

2008-08-05 Macao
 
Shun Tak Holdings, which holds a stake in Sociedade de Jogos de Macau, yesterday saw its stock price drop 3.226%, as Goldman Sachs said in a report that Shun Tak is expected to record a decline of 66% in profit for the first half of this year. Despite the depressed market, share prices of Sociedade de Jogos de Macau and Galaxy Entertainment Group yesterday increased by 0.714% and 0.610% respectively.
 

Macao’s gaming revenue steeply drops in July

2008-08-05 Macao
 
Data show Macao’s gaming revenue in July sharply fell from June. Three casino operators including Galaxy Entertainment and Wynn, for example, recorded a decline in revenue during the period. Sociedade de Jogos de Macau and Sands together accounted for a half of the total gaming revenue, while Galaxy Entertainment made up less than 10 per cent of the total. 

Analyst: controversial Cotai Jet ticket service is proper

2008-08-05 Macao
 
Cotai Jet was recently criticized for causing an unfair competition among gaming companies by distributing complimentary tickets. The firm said in a statement that the tickets were sold to different companies. In addition, the Venetian Macao said it purchased tickets from Cotai Jet and Turbojet to be used as prizes or gifts. An analyst said the controversial service is the same as casinos' shuttle bus services and there is nothing improper. 
 

SJM should take initiative to compete in gaming industry

2008-08-05 Macao
 
Sociedade de Jogos de Macau (SJM) finally went public on July 16 after overcoming several difficulties. When SJM was preparing to go public in 2006, the price for its shares was estimated to be MOP 15 per share, while shareholders purchased its shares at MOP 3.08 per share this year. To compete in such a terrible environment for gaming operators, SJM should take initiative to control more usable resources.