eGaming
AGS announces agreement with PokerStars Play
PlayAGS, Inc. recently announced that it entered an agreement to provide AGS’s Social White-Label Casino to PokerStars Play.
Thursday, August 23, 2018
Paradise Entertainment revenue up 15.2% in H1 2018
Casino – CalvinAyre.com
Paradise Entertainment revenue up 15.2% in H1 2018
Paradise Entertainment Limited posted a revenue of HK$563.9 million ($71.8 million) for the first half of 2018, up 15.2% from the same period last year.
The Hong Kong-based casino and gaming systems provider, in its press release, highlighted the performance of its electronic gaming equipment and systems, which saw revenue of HK$54.7 million ($7 million), up 102.6% from January to June 2017. The company said its strong sales here was “mainly driven by the Group’s deployment of a total of 217 live multigame terminals and other accessories like X-Stadium at MGM Cotai upon its opening on 13 February 2018.”
Revenue from casinos under the group’s management was up 10.1%, to HK$509.2 million ($64.9 million), while adjusted earnings before interest, depreciation, and amortization stood at HK$59.7 million ($7.6 million), up from HK$0.9 million ($115,000) in the same period last year.
Net profit was at HK$26.3 million ($3.4 million), after a net loss of HK$35.3 million ($4.5 million) in the first half of 2017, according to the company.
Chairman Jay Chun said, “Our efforts have begun to bear fruit and contributed to solid results despite the challenging and competitive operating environment in Macau.”
Chun noted that existing Dealer-Operated Electronic Table Games (DETG) were required by the Macau Gaming Inspection and Coordination Bureau to be updated before the end of 2019, “which has accelerated the upgrading and replacement cycles of all the deployed DETG machines of the Group in Macau.”
Paradise announced earlier this month that it had licensed electronic gaming table products developer Interblock for the rights to non-exclusive intellectual property of non-live multi-gaming machines in Macau, which the company sees helping them in their distribution of products in the special administrative region as well as markets overseas.
The company had earlier expressed interest in acquiring a casino license when these are made available in the coming years. It already operates the Kam Pek Paradise Casino through the license of SJM Holdings, and the Waldo Casino in partnership with Galaxy Entertainment.
The post Paradise Entertainment revenue up 15.2% in H1 2018 appeared first on CalvinAyre.com.
Wednesday, August 22, 2018
MGM Cotai to open junket rooms next month
Casino – CalvinAyre.com
MGM Cotai to open junket rooms next month
MGM Cotai is preparing to open VIP gambling rooms this September with the help of external junket partners. The casino resort, which is promoted by MGM China Holdings Ltd., anticipates five junket operators establishing their gaming business between then and the first half of next year, according to the company’s CEO, Grant Bowie.
Speaking to the media this past Wednesday, Bowie said, “In total we have facilities for five [junket] operators. We’re looking for two [to be launched] in September and probably another two in October and a fifth will open early next year.” He later added, “We’re now finishing off the construction of the [junket] rooms… now what we are working through is all the licensing process with the government. We’re very happy that the [junket room] construction is nearly completed, and the licensing process is being finalized.”
According to reports earlier this year, investment analysts have predicted that the first junkets will be provided by Tak Chun Group, Guangdong Group, David Group, Suncity Group and Meg-Star International. Meg-Star said at the time, “Due to the overall economy improvement and new [casino resort] projects entering into the market, Meg-Star maintains a positive view on the development of the Macau VIP market in 2018. We believe other [junket promoter] companies will also actively adjust their development strategy, depending on the development of the market, to maintain a healthy growth in coming years.”
When MGM Cotai launched earlier this year, the $3.5-billion resort was allocated 100 new-to-market live-deal tables in accordance with the city’s cap. An additional 25 new-to-market tables are positioned to be added at the beginning of next year and another 77 were approved to be moved from MGM Macau to the MGM Cotai.
Soon after the VIP rooms open, the resort will launch its “President’s Club.” MGM China has called it “an ultimate exclusive gaming area” targeting the company’s premium-mass customers, which bet in high multiples using cash instead of credit.
Bowie’s comments came during a talk with the media previewing MGM China’s International ion Dance Championship 2018. The event is scheduled for November of this year at MGM Cotai, whose theater can hold 2,000 attendees and offers ten different seating arrangements. MGM China has publicized it as “Asia’s first dynamic theater.”
The post MGM Cotai to open junket rooms next month appeared first on CalvinAyre.com.
US casino ops vie for Greece’s lone integrated resort license
Casino – CalvinAyre.com
US casino ops vie for Greece’s lone integrated resort license
Five casino operators — four of them American — are reportedly frontrunners to win the right to build Greece’s only integrated resort casino.
Earlier this month, the Hellenic Gaming Commission (HGC) opened its consultation on the terms of the sole casino license at the proposed €8b integrated resort at Athens’ former Hellinikon airport. The consultation’s initial phase is set to run until September 10.
On Wednesday, local media outlet Ekathimerini reported that five major operators – Caesars Entertainment, Hard Rock International, Las Vegas Sands, Melco Resorts & Entertainment and Mohegan Gaming & Entertainment – had scheduled meetings with the HGC to discuss the project further.
Both Hard Rock and Melco (the latter via its Melco International Development offshoot) are already involved in mega-resort projects in Spain and Cyprus, respectively, leading Ekathimerini to suggest they may eventually balk at the Hellinikon project’s expected €1b commitment, thereby boosting the likelihood that one of the other three US firms will seal the deal.
Assuming it lives up to its original billing, the Hellinikon resort would be the largest in Europe, featuring a smorgasbord of hotels, theme parks, convention & exhibition space and numerous other amenities. By comparison, HRI’s Spanish project carries a mere €2b price tag.
Moving forward on long-delayed but potentially economy-jumpstarting projects like Hellinikon was a precondition for Greece receiving the final portion of its eight-year €289b financial bailout by the European Union, the International Monetary Fund and the European Central Bank.
Once complete, the Hellinikon resort is projected to boost Greece’s GDP by 2.4% by drawing an additional 1m international tourists per year, as well as the creation of thousands of new jobs. The latter benefit would be extremely welcome in a country with 20% unemployment, and youth unemployment twice that figure.
The post US casino ops vie for Greece’s lone integrated resort license appeared first on CalvinAyre.com.
WPT500 Los Angeles Days 1G and 1H End with Alexander Beleson and Aram Bedrosian Leading
Casino News Daily
WPT500 Los Angeles Days 1G and 1H End with Alexander Beleson and Aram Bedrosian Leading
Day 1G drew 144 entrants. It kicked off at 11:30 am at the host venue and continued all the way through Level 21. Only seven players made it through the end. They will be led by Alexander Beleson into Day 2, which is set to be played on Sunday, August 26. Beleson accumulated a stack of 1.114 million to put into his bag at the end of the day. The player is thus ranking second in the temporary leaderboard of all starting flights played so far.
He is only topped by Peter Hengsakul, the Day 1A chip leader whose stack of 1.151 million is yet to be bested. Hengsakul is looking to improve his third-place finish from the previous WPT500 Los Angeles, so it is no surprise that he fought fiercely throughout his starting flight.
How Day 1H Unfolded
Aram Bedrosian ended the day as the chip leader with 728,000 chips in his bag and a massive advantage over the other survivor, Serj Markarian. The latter player collected 212,000 at the end of the Day 1H starting flight.
As mentioned above, the $570 buy-in WPT500 Los Angeles tournament has attracted a field of 955 entries to far. And that original field has been cut to just 48 hopefuls who will advance into Day 2 on Sunday.
Eight more starting flights are to be played as part of the event’s schedule with the last two of these slated for Saturday, August 25. Each of the next four days, today included, will feature two starting flights, one beginning at 11:30 am local time, the other at 5 pm local time. The second flight of the day would be of turbo format for heated live poker action.
The previous WPT500 Los Angeles event took place in May 2017. The Gardens Casino in Hawaiian Gardens played host to the tournament back then. There were 3,266 entrants to register to create a prize pool of $1.633 million. The top 263 players received a share of the money and it was Dong Le who emerged as the victor to claim the title and the first-place prize of $224,500. As mentioned above, the overall chip leader in the ongoing WPT500 Los Angeles, Peter Hengsakul, finished third in last year’s edition of the tournament to collect $100,000 in prize money.
The post WPT500 Los Angeles Days 1G and 1H End with Alexander Beleson and Aram Bedrosian Leading appeared first on Casino News Daily.
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