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Philippines-listed DigiPlus forecasts 370% rise in Q1 revenue
Philippine holding firm DigiPlus Interactive Corp, which invested in gaming and leisure businesses including digital bingo and digital sportsbook operations, posted a 370.2% increase in first-quarter shareholder net income to 1.99 billion PHP (US$34.7 million) from 424.4 million PHP a year earlier. In the three months to March 31, DigiPlus' consolidated revenue (mostly from "retail games") rose 226.3% to 13.63 billion PHP from just under 4.18 billion PHP in the first quarter of 2023. "This is primarily due to higher bingo and electronic game sales in the retail, casino and real estate sector
TransAct Q1 Revenue Declines, Game Revenue Declines
TransAct Technologies Inc., a supplier of slot machine printers, casino player management software and food safety management technology, reported first-quarter net sales of just $10.7 million, down 52.0% from a year earlier. Judging sequentially, sales were down 19.4%. The company said in Tuesday's announcement that the drop in revenue was "mainly a result of anticipated market dynamics and normalization of demand." Revenue from the casino and gaming division was nearly $5.7 million in the three months to March 31, down 64.0% from a year ago. However, revenue from the gaming division was up
S. Korea's casino op GKL falls 51 pct in Q1 profit
South Korea's foreign-only casino operator Grand Korea Leisure Inc. (GKL) posted a net profit of 8.46 billion won ($7.16 million) in the first quarter, down 51.3 percent from 17.35 billion won a year earlier. GKL's first-quarter sales fell 10.5% year-on-year, it said in a filing with the Korea Exchange on Thursday. In the three months to March 31, such sales reached nearly 109.2 billion won, compared to 112.9 billion won in the same period in 2018. The company did not provide information on why there was a big difference between a relatively small year-over-year drop in revenue in the first
Marina Bay Sands Debuts VIP Play at Tower 2 Sept
Singapore's Marina Bay Sands Casino Resort will feature VIP games "through September" on Tower 2's 53rd and 54th floors, a resort spokesperson confirmed to GGRAsia. The complex is operated by a unit of Las Vegas Sands Corporation, which is also the parent company of Macau operator Sands China Ltd. The person explained: "Marina Bay Sands expects to have a gaming business on the 53rd and 54th floors of Hotel Tower 2 by September 2024. "The ultra-luxury gaming space will satisfy VIP customers." A spokesperson added: "With the introduction of tower games containing relevant casino safety devic
CGA Hosts Player Health and Well-Being Symposium
Just as the Alcohol and Gaming Commission of Ontario penalized PointsBet Canada for breaching provincial responsible gambling standards, the Canadian Gaming Association made an important announcement. CGA revealed that it will be hosting a player health and wellbeing symposium. The event will take place on December 5-6, 2023, in Toronto, Ontario. The CGA is a national trade association that represents numerous leading online and land-based operators, and providers in Canada’s gambling, sports betting, eSports, and lottery sectors. Its objective is to lobby for the advancement of a regulated,
Vietnam bets on easing gaming laws
Vietnam's finance ministry has reportedly completed a draft decree allowing Vietnamese people to gamble at casinos at home. The government also plans to lower regulatory barriers to allow casino operators to do business in the country to attract more foreign investors. According to the draft record, casinos are open to Vietnamese people over the age of 21, who must meet certain backgrounds and financial standards to be defined by the government at a later date, the online edition of Tannien newspaper reported. Vietnamese Prime Minister Nguyen Tandong is responsible for selecting casinos that
Some Tenders For Barcelona Casino
Spanish authorities have received "multiple" bids for six casino licenses offered at BCN World, a large entertainment complex planned for Barcelona. The deadline to offer a bid was July 25. At least three international gaming operators have submitted bids, including Hong Kong-listed Melco International Development Ltd, Hard Rock Cafe International Inc and Caesars Entertainment Corp, Spanish news agency EFE reported. Spanish authorities said "multiple bids" had been offered to EFE. The sources did not disclose the number of bids submitted or the names of the bidders. According to media repor
New York Sire Steak Series Starts This Week
This week will be a particularly interesting week for horse racing fans in New York as the New York Sire Stakes series kicks off this week. The series officially kicks off on Monday, May 16, 2022 at the iconic Yonkers Raceway, with a thrilling 12-race card for the 3-year-old staggering Phillies on its first day. The first event starts exactly at 6:55 p.m. The New York Sire Stakes is one of Empire State's most famous harness racing programs that promote the breeding, purchase and racing of standard breed horses in the state of New York. The Series is managed by the agricultural and New York St
Studio City at Melco Crown
The budget for Studio City Casino Resort in Kotai rose 15% to $2.3 billion from $300 million, majority shareholder Melco Crown Entertainment Ltd. said in a statement. These figures include construction and expenditure costs, design, and consultant costs. The announcement was made in a filing with the U.S. Securities and Exchange Commission on Tuesday. Melco Crown did not provide a reason for the budget increase. Studio City is the latest casino resort under development in Kotai with an upgraded construction budget. Hong Kong-listed MGM China Holdings Ltd increased its budget for the Kotai p
S. Korea's Paradise Co. casino sales jump 50 pct in April
Casino sales at Paradise, South Korea's foreign-only casino operator, rose 49.5 percent in April from a year earlier, according to a Thursday report to the Korea Exchange. It earned about 57.13 billion won ($48.5 million) in revenue compared to about 38.21 billion won in April last year. Last month, table sales rose 50.8% year-on-year to 53.53 billion won from 35.49 billion won a year earlier. Machine sales in April this year rose 32.5% year-on-year to about 3.61 billion won from 2.72 billion won a year earlier. The company's monthly update does not provide a comment on why sales fluctuate
My blogs
Philippines-listed DigiPlus forecasts 370% rise in Q1 revenue
Philippine holding firm DigiPlus Interactive Corp, which invested in gaming and leisure businesses including digital bingo and digital sportsbook operations, posted a 370.2% increase in first-quarter shareholder net income to 1.99 billion PHP (US$34.7 million) from 424.4 million PHP a year earlier. In the three months to March 31, DigiPlus' consolidated revenue (mostly from "retail games") rose 226.3% to 13.63 billion PHP from just under 4.18 billion PHP in the first quarter of 2023. "This is primarily due to higher bingo and electronic game sales in the retail, casino and real estate sector
TransAct Q1 Revenue Declines, Game Revenue Declines
TransAct Technologies Inc., a supplier of slot machine printers, casino player management software and food safety management technology, reported first-quarter net sales of just $10.7 million, down 52.0% from a year earlier. Judging sequentially, sales were down 19.4%. The company said in Tuesday's announcement that the drop in revenue was "mainly a result of anticipated market dynamics and normalization of demand." Revenue from the casino and gaming division was nearly $5.7 million in the three months to March 31, down 64.0% from a year ago. However, revenue from the gaming division was up
S. Korea's casino op GKL falls 51 pct in Q1 profit
South Korea's foreign-only casino operator Grand Korea Leisure Inc. (GKL) posted a net profit of 8.46 billion won ($7.16 million) in the first quarter, down 51.3 percent from 17.35 billion won a year earlier. GKL's first-quarter sales fell 10.5% year-on-year, it said in a filing with the Korea Exchange on Thursday. In the three months to March 31, such sales reached nearly 109.2 billion won, compared to 112.9 billion won in the same period in 2018. The company did not provide information on why there was a big difference between a relatively small year-over-year drop in revenue in the first
Marina Bay Sands Debuts VIP Play at Tower 2 Sept
Singapore's Marina Bay Sands Casino Resort will feature VIP games "through September" on Tower 2's 53rd and 54th floors, a resort spokesperson confirmed to GGRAsia. The complex is operated by a unit of Las Vegas Sands Corporation, which is also the parent company of Macau operator Sands China Ltd. The person explained: "Marina Bay Sands expects to have a gaming business on the 53rd and 54th floors of Hotel Tower 2 by September 2024. "The ultra-luxury gaming space will satisfy VIP customers." A spokesperson added: "With the introduction of tower games containing relevant casino safety devic
CGA Hosts Player Health and Well-Being Symposium
Just as the Alcohol and Gaming Commission of Ontario penalized PointsBet Canada for breaching provincial responsible gambling standards, the Canadian Gaming Association made an important announcement. CGA revealed that it will be hosting a player health and wellbeing symposium. The event will take place on December 5-6, 2023, in Toronto, Ontario. The CGA is a national trade association that represents numerous leading online and land-based operators, and providers in Canada’s gambling, sports betting, eSports, and lottery sectors. Its objective is to lobby for the advancement of a regulated,
Vietnam bets on easing gaming laws
Vietnam's finance ministry has reportedly completed a draft decree allowing Vietnamese people to gamble at casinos at home. The government also plans to lower regulatory barriers to allow casino operators to do business in the country to attract more foreign investors. According to the draft record, casinos are open to Vietnamese people over the age of 21, who must meet certain backgrounds and financial standards to be defined by the government at a later date, the online edition of Tannien newspaper reported. Vietnamese Prime Minister Nguyen Tandong is responsible for selecting casinos that
Some Tenders For Barcelona Casino
Spanish authorities have received "multiple" bids for six casino licenses offered at BCN World, a large entertainment complex planned for Barcelona. The deadline to offer a bid was July 25. At least three international gaming operators have submitted bids, including Hong Kong-listed Melco International Development Ltd, Hard Rock Cafe International Inc and Caesars Entertainment Corp, Spanish news agency EFE reported. Spanish authorities said "multiple bids" had been offered to EFE. The sources did not disclose the number of bids submitted or the names of the bidders. According to media repor
New York Sire Steak Series Starts This Week
This week will be a particularly interesting week for horse racing fans in New York as the New York Sire Stakes series kicks off this week. The series officially kicks off on Monday, May 16, 2022 at the iconic Yonkers Raceway, with a thrilling 12-race card for the 3-year-old staggering Phillies on its first day. The first event starts exactly at 6:55 p.m. The New York Sire Stakes is one of Empire State's most famous harness racing programs that promote the breeding, purchase and racing of standard breed horses in the state of New York. The Series is managed by the agricultural and New York St
Studio City at Melco Crown
The budget for Studio City Casino Resort in Kotai rose 15% to $2.3 billion from $300 million, majority shareholder Melco Crown Entertainment Ltd. said in a statement. These figures include construction and expenditure costs, design, and consultant costs. The announcement was made in a filing with the U.S. Securities and Exchange Commission on Tuesday. Melco Crown did not provide a reason for the budget increase. Studio City is the latest casino resort under development in Kotai with an upgraded construction budget. Hong Kong-listed MGM China Holdings Ltd increased its budget for the Kotai p
S. Korea's Paradise Co. casino sales jump 50 pct in April
Casino sales at Paradise, South Korea's foreign-only casino operator, rose 49.5 percent in April from a year earlier, according to a Thursday report to the Korea Exchange. It earned about 57.13 billion won ($48.5 million) in revenue compared to about 38.21 billion won in April last year. Last month, table sales rose 50.8% year-on-year to 53.53 billion won from 35.49 billion won a year earlier. Machine sales in April this year rose 32.5% year-on-year to about 3.61 billion won from 2.72 billion won a year earlier. The company's monthly update does not provide a comment on why sales fluctuate
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