Asia Gaming Weekly News Bulletin – ISSUE 1 Week of 10 February 2025
Star Entertainment Group has rejected several offers from foreign investors seeking to acquire a significant asset from the troubled casino operator.
(2) Thailand open to China’s input on casino regulations: Paetongtarn
Prime Minister Paetongtarn Shinawatra announced that Thailand’s entertainment complex will focus on family-friendly attractions, with less than 10% casino involvement, to generate tax revenue and jobs.
(3) Macau Intensifies Efforts Against a High-Tech Illegal Gambling Syndicate
Macau authorities are intensifying efforts to dismantle an illegal gambling network using advanced technologies to bypass regulations and generate significant profits.
(4) Figures emerge after CNY as analysts expect casino kam pek paradise to rank among macau’s top gaming venues in 2025
Kam Pek Paradise is projected to be Macau’s third-best venue in 2025, with a daily GGR of US$14,811, driven by new technologies and strong demand.
(Photo Credit: John Gass/ NCA)
Star Entertainment Group has rejected multiple offers to sell its stake in the Brisbane Queen’s Wharf complex, a move that could have alleviated its severe financial troubles. The casino operator is facing low cash levels and declining revenue, recently selling its Sydney casino’s events space for $40 million less than its previously claimed value.
Despite receiving several proposals from Hong Kong investors interested in acquiring its 50% stake in Queen’s Wharf, Star concluded that none provided sufficient value and continues discussions to explore potential negotiations. The company, which partnered with Chow Tai Fook Enterprises and Far East Consortium in a $2.6 billion development deal in 2015, has seen costs soar by about $1 billion, causing its share price to plummet from over $4 to around 13 cents.
Star’s financial struggles were highlighted earlier this year when it reported a significant revenue drop and limited cash reserves, leading to a need for external funding. The company is currently seeking to raise $150 million in subordinated debt and has called on state governments for gaming tax relief, with mixed responses from officials.
News Source: https://www.skynews.com.au/business/finance/star-entertainment-group-knocks-back-several-bids-for-stake-in-brisbane-queens-wharf-precinct-from-hong-kong-investors/news-story/1d54ed92f16656374b1f2791c930ad73
(2) Thailand open to China’s input on casino regulations: Paetongtarn
(Photo Credit: Asia News Network/The Nation)
Prime Minister Paetongtarn Shinawatra held a press conference to discuss her recent meeting with Chinese President Xi Jinping, focusing on Thailand’s entertainment complex policy. She clarified that the complex would not be primarily casino-focused, with the casino component making up less than 10% of the project, which aims to be a family-friendly destination with various leisure facilities.
Paetongtarn highlighted the existence of illegal gambling in Thailand, arguing that a regulated entertainment complex could generate tax revenue for education and national development. She framed the project as a strategy to attract international tourists, boost local economies, and create jobs.
Additionally, she noted President Xi’s insights on the risks associated with casinos, emphasising Thailand’s willingness to learn from China’s experiences in balancing tourism growth with social impacts.
News Source: https://www.phnompenhpost.com/international/thailand-open-to-china-s-input-on-casino-regulations-paetongtarn
(3) Macau Intensifies Efforts Against a High-Tech Illegal Gambling Syndicate
(Photo Credit: Inside bitcoins)
Macau authorities are intensifying efforts to dismantle an illegal gambling network that uses advanced communication technologies, such as mobile devices and live-streaming, to bypass traditional oversight. Investigators suspect the syndicate is connected to a mainland Chinese criminal organisation and has conducted multiple gambling events, with substantial on-table and off-table bets indicating significant profitability.
On 5 February 2025, a coordinated raid led to the arrest of three mainland Chinese nationals in a VIP room, including a high-ranking member of the syndicate. Authorities seized advanced equipment, casino chips, and cash, but the suspects have refused to cooperate, complicating the investigation. The use of live-streaming has allowed the group to generate illegal profits while evading regulations.
Macau continues to face challenges from illicit gambling activities, which threaten the integrity of its gaming industry and are often linked to broader criminal activities. The region has implemented enhanced surveillance measures and is cooperating with mainland Chinese law enforcement to combat these networks. As the world’s gambling capital, Macau is committed to maintaining a secure and transparent environment, investing in modern technologies to monitor and disrupt illegal operations.
News Source:https://insidebitcoins.com/news/macau-intensifies-efforts-against-a-high-tech-illegal-gambling-syndicate
(4) Figures emerge after CNY as analysts expect casino kam pek paradise to rank among macau’s top gaming venues in 2025
(Photo Credit: Kampek Paradise Casino)
Casino Kam Pek Paradise is expected to rank as one of Macau’s top gaming venues in 2025, projected to be third in table yield with an estimated daily gross gaming revenue (GGR) per table of around US$14,811, following Wynn Macau Ltd. and MGM China Holdings Ltd. This strong performance is attributed to the widespread use of LT Game’s live multi-game (LMG) terminals, which total nearly 1,000 units in its 200,000-square-foot casino.
Paradise Entertainment, the casino operator, has enhanced its gaming technology offerings by launching the AI-powered “Black Coral” LMG platform and the new electronic gaming machine (EGM) called “Super Bull,” aimed at the Macau and Southeast Asian markets.
Market trends suggest that Macau’s overall gaming revenue for February 2025 may reach MOP19 billion (US$2.34 billion), boosted by demand during the Chinese New Year. Despite a 3.5% decline in visitor arrivals compared to CNY 2024, analysts anticipate that premium mass play and the adoption of electronic table games (ETG) will help maintain Kam Pek Paradise’s high table yield in 2025.
News Source: https://www.mundovideo.com.co/en/asia/figures-emerge-after-cny-as-analysts-expect-casino-kam-pek-paradise-to-rank-among-macaus-top-gaming-venues-in-2025/
