Genting Malaysia narrows loss in 1Q, records revenue of US$494 million

Genting Malaysia narrows loss in 1Q, records revenue of US$494 million

International casino operator Genting Malaysia Bhd recorded total first-quarter revenue of just above MYR2.28 billion (US$493.7 million), up 32.7 percent from the prior-year period. Judged sequentially, group-wide revenue was down 6.2 percent, according to a Thursday filing to Bursa Malaysia. The group reported first-quarter adjusted earnings before interest, taxation, depreciation, and amortisation (EBITDA) of MYR592.9 […]

Read More
Aristocrat's H1 Financials Shine as They Benefit from Aggressive Expansion

Aristocrat’s H1 Financials Shine as They Benefit from Aggressive Expansion

Global gaming solution provider Aristocrat Leisure has reported positive financial results for the first half (H1). The company’s focus on diversifying its portfolio through strategic acquisitions is already paying dividends, ensuring fiscal stability despite macroeconomic pressures. North American operations performed exceedingly well, justifying further investments in the region. Revenue Growth Retains Its Momentum Aristocrat’s H1 […]

Read More
Wizard Games Hires Benedict McDonagh as Managing Director

Wizard Games Hires Benedict McDonagh as Managing Director

NeoGames subsidiary and slot studio Wizard Games has appointed Benedict McDonagh as Managing Director as it looks to “make a major splash in regulated markets around the world”.  Bringing over 18 years of igaming experience to the role, McDonagh will use his industry knowledge as part of the company’s management team, headed by Adrian Bailey, […]

Read More
Newport World Resorts' GGR increases by 36% YoY in 1Q

Newport World Resorts’ GGR increases by 36% YoY in 1Q

The owner and operator of Philippine casino and leisure complex Newport World Resorts (pictured), in the capital Manila, said first-quarter overall revenues rose 62.9 percent year-on-year, to PHP7.90 billion (US$140.9 million). First-quarter gross gaming revenues increased by 36.2 percent during the period, to just above PHP8.89 billion, according to a Tuesday filing. Net profit for […]

Read More
Stakelogic Secures Swedish License through Glitnor Group Partnership

Stakelogic Secures Swedish License through Glitnor Group Partnership

Upon receiving a Swedish supplier licence, Stakelogic has formed a content partnership with another operator in the nation, supplying games to Glitnor Group’s online casino brands.  Through the collaboration, Stakelogic will supply its catalogue of both classic and video slots to Glitnor’s Lucky Casino and Happy Casino brands in the Scandinavian nation.  “Glitnor is a […]

Read More
Is Kambi Group Plc Next in Line for a Possible Acquisition?

Is Kambi Group Plc Next in Line for a Possible Acquisition?

The Swedish provider of technology for the gaming industry might be next in line for a takeover, according to the freshest Eilers & Krejcik Gaming (EKG) research included in their most recent EKG Line report.  Kambi Group Not Idly Waiting for a Potential Suitor  According to EKG, Kambi’s repayment of the $8.3 million Kindred Group […]

Read More
Citigroup survey: Sands leads premium mass segment in Macau

Citigroup survey: Sands leads premium mass segment in Macau

Sands China Ltd is estimated currently to be market leader, by share of total wager, in Macau’s ‘premium mass’ gambling segment, according to a Sunday note from Citigroup Global Markets Inc. “Sands China dethroned Galaxy [Entertainment Group Ltd] to become premium mass leader with an approximately 24-percent market share in total wager observed,” wrote analysts […]

Read More
Miami land deal boosts credit rating for GEN Bhd, says Moody's

Miami land deal boosts credit rating for GEN Bhd, says Moody’s

Casino investor Genting Malaysia Bhd’s proposed disposal of several land plots in Miami, Florida in the United States, can boost the consolidated liquidity of its parent, Genting Bhd, says Moody’s Investors Service Inc. The ratings house adds that post transaction, Genting Bhd’s cash holdings on a pro forma basis are expected to be MYR27.3 billion […]

Read More
LET engages in discussions with a nearby financial institution for a project in Manila.

LET engages in discussions with a nearby financial institution for a project in Manila.

Hong Kong-listed LET Group Holdings Ltd, an investor in a number of Asia-Pacific region casino projects, says it is seeking financing to complete the development of a casino hotel at the Westside City project in Manila, the Philippine capital. That is according to a message from the firm’s chairman, Andrew Lo Kai Bong, included in […]

Read More
Buzz Group Forays into iGaming with a New Casino Brand

Buzz Group Forays into iGaming with a New Casino Brand

Buzz Group, the group behind Buzz Bingo, has forayed into the world of online casino gaming with a new brand. The company just launched Buzz Casino, its first iGaming subsidiary. The newly-launched site will complement Buzz Group’s existing bingo business. As announced, the new iGaming platform has been developed by Playtech, Buzz Group’s existing iGaming […]

Read More