Crown secured the capital injection from its shareholders this week
(Macau).- James Packer’s private company, Consolidated Press Holdings, has taken up a third of a us$ 300 million equity placement in casinos operator Crown, as the company strengthens its balance sheet to help weather the gambling downturn in the US, Macau and Australia.
District Judge Michelle Leavitt denied two motions in the case
(Hong Kong).- A Las Vegas Sands Corp. lawyer said the company would appeal a 58.6 million US dollar award won by a Hong Kong businessman for help securing a gambling contract.
Currently, Goa is the only home to legalized casinos in the country
(India).- Goa is as far as a Gujarati gambler can get. But, gaming by the Arabian Sea in Daman could bring the dice closer with leading US-based gaming, entertainment and hospitality chain Thunderbird Resorts and Daman Hospitality Pvt Ltd joining hands to set up a us$ 753,906 resort with a casino as its centre-piece.
At China’s 5th Annual International Conference on Gaming Industry and Public Welfare
(China).- PacificNet Inc announced that its director Guojing Su, a renowned lottery industry expert in China, delivered a speech on China’;s Welfare and Sports Lottery Industry at the 5th International Conference and Forum on Gaming Industry and Public Welfare 2008.
The measures become effective this month
(Macau).- Melco Crown Entertainment, the Macau casino venture backed by billionaire James Packer and gambling magnate Stanley Ho’s son, will offer staff unpaid leave as a recession and travel restrictions damp betting in the city.
It booked casino revenues of us$ 1.1 billion last month
(Macau).- Macau’;s casino revenues in November rose 2.6% year-on-year to hit us$ 966 million, snapping a decline for the second consecutive month since September, the South China Morning Post reported citing unofficial data.
At the MPI campus in Macau
(Macau).- A significant milestone in the development of the gaming industry in Macau took place this week with the signing ceremony for the exclusive agreement between Macao Polytechnic Industry and BMM Compliance for the establishment of the MPI-BMM Testing Centre for gaming devices.
The firm has us$ 769 million in cash and is not committing to a date for the opening
(Macau).- Galaxy Entertainment Group, which has delayed the opening of a new casino in Macau amid a harsh market for gaming firms, offered to buy back us$ 350 million worth of bonds at a steep discount to their face value. Macau out-earns the Las Vegas Strip as the world’s biggest gaming market.
Information was revealed to the House by Deputy Finance Minister
(Sri Lanka).- Government revenue collection from the casino clubs in terms of Betting and Gaming Levy has seen a rapid increase from us$ 509,380 in 2003 to us$ 2,5 million in 2006 according to information provided to Parliament last week.
Lab is first ever in region
(Macau).- Gaming Laboratories International has reached another milestone in the company’s storied history, opening the first-ever fully operational independent testing and interoperability center in the region. The new 278 sqm facility is located in the China Civil Plaza in Macau.