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Okada Manila Reaches Record High Casino Revenues and Profits in November

Universal Entertainment released financial figures showing that casino revenues at Okada Manila reached a record-high 2.9 billion pisos (US$55.1 million) in November, combined with a record-high EBITDA of almost 528 million pisos (US$10 million) during the same period.

Philippine Court Orders PAGCOR to Issue Casino License

The Philippine Court of Appeals has upheld a lower court ruling ordering the Philippine Amusement and Gaming Corporation (PAGCOR) to issue a license for Waterfront Philippines to operate an IR in Manila’s Entertainment City.

Philippines Sees GGR of US$3.6 Billion by Year End

Philippine Amusement and Gaming Corporation (PAGCOR) chair Andrea Domingo says she expects GGR to reach 192 billion pisos (US$3.6 billion) by the end of 2018, fast approaching the level of Singapore, the second-biggest market in Asia after Macau.

Okada Ousted on Suspicion, Not Evidence, Says Son

Tomohiro Okada, the son of casino mogul Kazuo Okada, has admitted that he had played a part in the removal of his father from their family-owned company based on suspicion of impropriety, rather than any concrete evidence.

Universal Entertainment Releases Monthly Results for Casino Resort Business

Apparently as part of its policy of enhanced information disclosure as promised in a statement to the JASDAQ securities exchange last month, Universal Entertainment has publicly released a monthly report on its casino business—in other words, regarding Okada Manila in the Philippines.

Galaxy Says Project a “Good Fit” for New Boracay

Galaxy Entertainment told the South China Morning Post in an email that it believes its planned project for an IR would be a “good fit” for the new Boracay.

Jay Walker to Deliver Keynote at ASEAN Gaming Summit 2019

One of America’s best-known business inventors and entrepreneurs, Jay Walker, has confirmed his participation as a keynote speaker to the ASEAN Gaming Summit 2019.

Duterte Wants Crackdown on Online Gambling

Philippines President Rodrigo Duterte said that he wants to suppress online gambling, which has become a magnet for kidnapping and extortion.

Playtech Gains Monopoly Status in the Philippines

UK-listed gaming supplier Playtech has become the monopoly provider of Random Number Generator (RNG) casino games in Philippines, after gaining PAGCOR’s first and only Gaming Software Provider certification, Calvin Ayre reports.

City of Dreams Manila Opens VR Gaming Facility

Melco Resorts & Entertainment has opened Southeast Asia’s first Bandai Namco Virtual Reality gaming facility at its City of Dreams Manila IR in the Philippines.

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Fitch Asia Markets

Fitch Pegs Japan IR Revenues at US$6 Billion

Fitch Ratings has estimated that the first round of IR construction in Japan will create revenues in the US$6 billion range, much smaller than, for example, the Morgan Stanley report of April 11 which foresaw a US$15 billion Japanese IR market developing by 2025.

Casino Entry Fee Remains Point of Contention

Japan’s proposed anti-addiction measures are viewed as generally “well-balanced,” though a lowering of the casino entry fee should be considered, said experts at the Japan Gaming Congress on Friday.

Hong Kong Jockey Club Warns about Illegal Betting

Illegal gambling is growing twice as fast as wagering and about US$140 billion is laundered annually though illegal markets, local media reports.

Laguna Lăng Cô Receives Casino License, Expects 2022 Opening

The Laguna Lăng Cô integrated resort is expected to open its new casino in 2022, after receiving the country’s first casino license in ten years.

Shares in South Korea’s Casino Operators Rally Ahead of Summit

Shares in South Korea’s casino operators rallied on Tuesday ahead of a summit between US President Donald Trump and North Korea’s Kim Jong-Un on hopes for greater cross border cooperation, including a potential casino project.