State backing for casino merger courts controversy
(Sri Lanka).- Two planned gaming resorts in Sri Lanka are expected to link up with existing casinos in the city and will require no new licenses to be issued, the investment promotion ministry has said. Australian Crown group and Sri Lanka's John Keells Holdings are to build two 'integrated resorts' with luxury hotels complete with, dining, shopping, conference, entertainment and gaming facilities.
Kazuo Okada has denied any wrongdoing in the Philippines
(Japan).- A Tokyo court has dismissed a defamation lawsuit filed by Japanese billionaire Kazuo Okada against U.S. casino operator Wynn Resorts and some of its top executives, saying the case should not be handled by a Japanese tribunal.
Hollywood Roosevelt Macau
(Macau).-A hotel under construction next to the Macau Jockey Club could have a casino, according to the company that will manage the hotel. The 373-room, USD 256.4 million Hollywood Roosevelt Macau hotel will have 5,000 square metres of its 28,000 square metres of floor space reserved for gaming.
Sands continues to employ permanent residents as dealers
(Macau).- Sands China will “follow the rules directly” and continue to employ permanent residents as dealers. Las Vegas Sands president Michael Leven made the comments during a quarterly earnings call, Business Daily reported.
Revenue rose by 32 percent
(Macau).- Casino and resort company Las Vegas Sands has posted a better-than-expected profit for the third quarter of 2013 thanks to continued growth in Asia. The company, controlled by billionaire Sheldon Adelson, recorded a profit rise to 82 cents per share, excluding some items, in comparison with the average of 77 cents per share forecast by analysts.
29 percent more than a year ago
(Macau).- Table-only gross gaming revenue reached USD 3.11 billion by Sunday, and could reach USD 4.38 billion – 29 percent more than a year ago and a new record – by the end of the month, Sterne Agee says.
India environmental watchdog threatens casino polluters with criminal proceedings
(India).- Last week, the Goa State Pollution Control Board (GSPCB) instructed offshore casino managements to take necessary precautionary and preventive measures to ensure that observations made during the GSPCB’s recent inspections are complied with, within a period of 15 days. The inspection report indicates that casinos have failed to comply with the condition stipulated in the consent to operate under water and air acts.
Earnings soar 79 percent
(Macau).- Las Vegas Sands said its financial performance for the third quarter easily surpassed that of last year thanks to increased earnings from the company’s casino holdings in Macau. The casino operator, which runs The Venetian and Palazzo on the Strip, said its net profits increased 79.2 percent to USD 626.7 million for the quarter ending Sept. 30. The company earnings per share increased 81 percent, in line with a predictions by analysts polled by Thomson Financial Network. Las Vegas Sands grew revenues 31.7 percent to USD 3.57 billion.
The number of new tables allowed to grow by 3 per cent a year
(Macau).- The government has no plans to relax its cap on live gaming tables, the Gaming Inspection and Coordination Bureau says. Standard Chartered Bank said this week that the gaming table cap could be relaxed on Cotai. The bank did not cite the source of its information.
It will be located at Beira Lake in the center of the capital Colombo
(Sri Lanka).- Crown, Australian largest gambling company, said a casino resort it’s in talks over co-developing in Sri Lanka will cost about us$ 400 million. The five-star resort will have about 450 hotel rooms and suites at Beira Lake in the center of the capital Colombo, the Melbourne-based company said in a regulatory statement today.