Gambling Clear News
Fitch Ratings has altered its outlook on SJM Holdings from “negative” to “stable”, expecting the company to turn free cash flow (FCF) positive in 2024. The positive FCF should help SJM to expand, while also “driving a reduction in debt balance”. Fitch is projecting SJM to reach HK$6.6bn (£664.5m/€770.9m/US$845.3m) in EBITDA by 2026. The agency
Macau reported another strong month for its gambling sector as monthly gross income reached MOP$18.6bn (£1.8bn/€2.1bn/$2.3bn) in December, a 433% increase year-on-year. While gross gambling income in December was also 15.7% higher in Macau than the MOP$16bn recorded in November, it fell short of the MOP$19.5bn accumulated in October. December was no doubt another strong
Massachusetts’ gaming revenue dropped during November despite seeing its monthly sports betting handle record smashed. More interestingly however, was Penn Interactive’s surge in wagers. Casino takings were pretty much flat compared to the previous month according to figures released by the Massachusetts Gaming Commission. However, a good month for punters saw sports betting accrual win
The Singapore Gambling Regulatory Authority (GRA) has fined Resorts World Sentosa (RWS) a total of S$2.3m (£1.3m/€1.6m/US$1.7m) for failing to perform customer due diligence checks. The GRA said Resorts World Sentosa breached several Singapore laws by not carrying out the required checks. These include the Casino Control Act 2006 and the Casino Control (Prevention of Money
Gambling revenue in the Macau market rocketed by 435.0% year-on-year to MOP$16.04bn (£1.56bn/€1.83bn/US$2.00bn) in November, the fourth highest monthly total so far in 2023. The figure was some way ahead of MOP$3.00bn in November of last year but 17.7% behind $19.50bn in October 2023. However, October’s total was the highest monthly amount in Macau since before
MGM Resorts International has unveiled its vision to transform its Empire City Casino in New York into a full-scale commercial casino. Located in the Yonkers region of New York, the Empire City Casino currently operates as a video lottery racino. The MGM venue offers slots and various table games, as well as harness racing betting
The Mohegan tribe has announced that its new Mohegan Inspire Entertainment Resort in South Korea will host a soft opening on 30 November. Mohegan said the soft launch next week will allow visitors to access certain facilities ahead of the resort’s full launch. Several other opening phases will follow before Incheon-based Mohegan Inspire becomes fully
Australian gaming machine supplier Ainsworth Game Technology has commenced a strategic review amid widespread reports that it is seeking a buyer. New South Wales-headquartered Ainsworth confirmed it has appointed Macquarie Capital as its financial advisor to undertake a review of all potential opportunities available. No expressions of interest have been received from suitors, the ASX-listed
Gambling revenue in Macau totalled MOP19.50bn (£1.99bn/€2.29bn/$2.42bn) in October, the highest monthly amount since before the pandemic. The total is up 400.2% from MOP3.90bn in Macau in October of 2022 and 30.5% ahead of MOP14.94bn in September this year. The figure is also the highest monthly total so far this calendar year. Perhaps more importantly, it
LRGC Gaming Investors, an affiliate of Cordish Companies, has secured approval to become a gaming operator in Louisiana, clearing the way for the group to open a new land-based casino in the state. Approval from the Louisiana Gaming Control Board means Cordish can now offer gambling in the state’s regulated market. This is in line
