Melco Resorts expecting some “loss-making days” in its Macau casinos, flags six-month recovery period

Inside Asian Gaming

2020-02-26Melco Resorts & Entertainment has warned that it could experience some loss-making days at its Macau properties while the Coronavirus continues to depress visitation, despite re-opening its casino floors at City of Dreams and Studio City, as wel…… [Read More]

Sands China names Grant Chum new COO, Wilfred Wong to retain role of President

Inside Asian Gaming

2020-02-26Sands China Ltd has signaled a changing of the guard within its executive leadership team after appointing Chief of Staff Grant Chum to the role of Chief Operating Officer, taking over from Dr Wilfred Wong. While Dr Wong will retain the role of Pre…… [Read More]

Suncity signs 45-year lease agreement for Westside City Resorts World hotel and casino development in Manila

Inside Asian Gaming

2020-02-26Suncity Group has announced that its recently acquired, 51%-owned Philippines subsidiary SunTrust Home Developers Inc has signed a 45-year lease agreement with Travellers International Hotel Group Inc and Westside for the development and operation o…… [Read More]

Lower machine unit sales, Canada systems launches, spark Scientific Games Q4 loss

Matthew Crowley, CDC Gaming Reports

2020-02-26A chain reaction sent Scientific Games Corp.’s financial arrows down in the fourth quarter. Fewer systems launches in Canada and lower machine unit sales meant less overall business, prompting a loss that reversed year-earlier income and misses of W…… [Read More]

SEC filing: Murren to receive almost $32 million to depart MGM Resorts

Howard Stutz, CDC Gaming Reports

2020-02-26Departing MGM Resorts International Chairman and CEO Jim Murren will collect $31.9 million in salary, bonuses, stock, severance and monthly consulting fees through the end of 2021, according to a securities filing Friday. Murren, 58, who announced …… [Read More]

MGM Growth officials tout joint-venture deal; fourth quarter revenue, cash flow miss forecasts

Matthew Crowley, CDC Gaming Reports

2020-02-26You can forgive MGM Growth Properties shareholders if they felt a little whiplash Friday. Late in the day, there may have been uplift. The Las Vegas-based real estate investment trust announced the closing of a joint venture to acquire the real est…… [Read More]

MGM Resorts now last man standing in Osaka after rivals withdraw from selection process

Inside Asian Gaming

2020-02-20MGM Resorts appears to be the last man standing to develop an integrated resort in Osaka after the Osaka Prefectural Government announced on Friday that the US casino operator and its local partner Orix were the only consortium to apply to submit a …… [Read More]

Macau’s mass-closure over as 29 casinos, most junkets resume operations

Inside Asian Gaming

2020-02-20A total of 29 of Macau’s 39 operational casinos re-opened as the clock struck midnight on Thursday, bringing to an end the city-wide 15-day closure of all gaming operations. As confirmed by the Macau government at a press conference on Wednesday af…… [Read More]

Control Board: Nevada casinos collect $2 billion in net income in fiscal 2019, reversing a net loss

Howard Stutz, CDC Gaming Reports

2020-02-20Nevada largest casinos collected $2.055 billion in net income during the 2019 fiscal year, reversing a net loss of more than $1.168 billion in the previous year, according to a report released Friday by the states’ Gaming Control Board. The Gaming …… [Read More]

Reduced Q4 results and lowered projections disappoint MGM Resorts investors

Howard Stutz, CDC Gaming Reports

2020-02-20MGM Resorts International frustrated investors Wednesday with lower-than-expected fourth quarter results and then compounded the matter by lowering its targeted financial projections for 2020. To make up for the disappointment, the company raised i…… [Read More]