News

Melco Resorts Finance Limited Granted Waivers on Covenants within US$1.92 billion revolving Credit Facility due to Pandemic

Submitted by admin on Mon, 30/11/2020 - 14:39

Melco Resorts Finance Limited, the wholly-owned subsidiary of Melco Resorts & Entertainment that operates Macau integrated resorts City of Dreams and Altira Macau, says its lenders have agreed to waive certain financial condition covenants surrounding credit facilities secured earlier this year.

The waivers relate specifically to a HK$14.85 billion (US$1.92 billion) revolving credit facility secured from a syndicate of banks on 29 April aimed at providing extra liquidity to navigate the COVID-19 pandemic.

Fast Recovery in Asia Pacific Region Predicted by Fitch

Submitted by admin on Fri, 27/11/2020 - 12:37

Availability of vaccine against Covid-19 would “allow destination markets like Singapore and Las Vegas to begin recovering more in earnest in second half 2021,” said Fitch Ratings in its Wednesday paper.

Ainsworth reports US$11mln loss for 6 months to Dec 31

Submitted by admin on Fri, 27/11/2020 - 12:22

Australia-based slot machine maker Ainsworth Game Technology reported year-on-year declines in both sales and profitability in the six month period ending December 31.

Total revenues stood at A$107.3 million, which was a 9 percent decline. Losses after taxes were -A$3.8 million, compared to a profit of A$12.1 million the previous year.

Philippine Casino Sector third quarter up 602.6 percent from the preceding three months

Submitted by admin on Thu, 26/11/2020 - 17:34

The data was published by the Philippine Amusement and Gaming Corp (Pagcor), an operator of public-sector casinos as well as regulator and licensor of commercial-sector venues.

Las Vegas tourism for October climbs by 50 percent.

Submitted by admin on Thu, 26/11/2020 - 01:15

In statistics released Tuesday by the Las Vegas Convention and Visitors Authority, visitor volume is just over 50 percent of what it was a year ago. October 2020 visitors totaled 1,856,900, compared to October 2019's 3,668,100 visitors.

URUGUAY OPERATORS TRUST IN ZITRO

Submitted by admin on Wed, 25/11/2020 - 14:38

The global video slot phenomenon, Link King, continues to charm players around the world. The latest casino to add the trendy progressive multigame to its entertainment offering is the Santa Cristina Hotel & Casino in Uruguay.

Rank completes migration of Bella Casino brand onto proprietary tech platform

Submitted by admin on Wed, 25/11/2020 - 11:26

RANK have announced the successful migration of the first of its gaming brands onto its proprietary technology platform.

IGT and Maverick Gaming to Deliver Retail and Mobile Sports Betting with Launch of Play Maverick Sports in Colorado

Submitted by admin on Tue, 24/11/2020 - 22:18

LONDON, Nov. 23, 2020 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that its leading PlaySports platform will power world-class retail sports betting at Maverick Gaming's three Colorado-based casinos as well as interactive sports betting throughout Colorado via Play Maverick Sports.

Atlantic City’s nine casino operators reported gross operating profit down $89M for 3rd Qtr YoY

Submitted by admin on Tue, 24/11/2020 - 22:16

Net revenue was down 32 percent to $629.3 million — a decrease of $300 million. Profits were down $89 million from the same quarter in 2019.

UK Betting and Gaming Council urges Government for full and safe reopening of Casinos

Submitted by admin on Tue, 24/11/2020 - 22:00

BGC Cheif Executive Michael Dugher said: “Casinos are best-in-class amongst the hospitality sector when it comes to anti-Covid measures. There is no evidence that they contribute to the spread of the virus.