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New Silk Road Jeju Casino's First Half Gross Profit Up 19 Pct
Hong Kong-listed New Silk Road Culture Ltd, which operates a foreign-only casino business in South Korea and hopes to develop its own casino resort, posted a loss of HK$17.6 million ($2.2 million) in the first half of 2019 from continuous operations. That compares with a loss of HK$14.6 million a year earlier. During the reporting period, the group's main sources of revenue were casino operations through its existing Mega Luck casino operations (pictured) at the Jeju KAL Hotel in Jeju Island, South Korea, and sales and distribution of wine and Chinese alcoholic beverages, Baiju. New Si
UNESCO alarmed by Nagakov plan near Angkor Wat
The United Nations Educational, Scientific and Cultural Organization (UNESCO) has voiced concern over casino investor Naga Corp Ltd's proposal to build a $350 million non-gaming resort near Encore Wat, a UNESCO World Heritage Site in Siem Reap, Cambodia. The Hong Kong-listed company operates the Nagaworld casino complex in Cambodia's capital Phnom Penh. It has an exclusive license to operate casinos there and around the city. "We are closely following plans for 75 hectares of amusement parks under discussion near Cambodia's World Heritage Site Angkor," UNESCO said in a statement on We
Donaco Confirms $10M Capital Through Qualification Offe
Australian-listed casino operator Donaco International said it had successfully completed a share exercise it flagged earlier this month, raising A$14.4 million at its current exchange rate before the cost. Proceeds from the exercise, known as the rights offer, will be "used to meet upcoming repayment requirements" under a debt facility with Mega International Commercial Bank Co. Ltd., also known as Mega Bank. Some of the funds used will be used as "working capital" separately in connection with Poipet's Star Vegas resort and club on the Thai-Cambodian border, two casino complexes run
Manterra Group Signs Casino Agreement in Primorsky Krai, Russia
A company called Manterra Group agreed on Thursday to invest 14 billion rubles ($192 million) in a casino resort in the integrated entertainment zone (IEZ) of Primorsky Krai near Vladivostok, far east Russia, according to a press release on the website of the Primorsky Krai Development Corporation. Mantera announced that it plans to complete the plan within four years of the start of the work, which is scheduled for 2022. Hong Kong-listed casino group Nagakov resumed work on building a casino resort in Primorye after completing a deal with a Russian contractor in August, according to a
Singapore launches new gambling regulator watchdog
About five months after ratifying the new regulatory legislation, the Singaporean government reportedly launched a new gambling regulator watchdog to directly replace its former casino regulator body. According to a report by GGRAsia, the official appearance of the new watchdog comes after the former British enclave approved a new gambling control law on March 11, which took effect earlier this month to establish a single agency responsible for regulating all forms of gambling. The sources also explained that the law introduced stricter penalties for those found to carry out or encourage ille
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