Asia round-up: The silence of Macau, the Bloomberry coast and SJM shares switch hands

Home » Asia round-up: The silence of Macau, the Bloomberry coast and SJM shares switch hands

Bloomberry planning coastal venue outside of Manila Casino and resorts operator Bloomberry plans to begin construction on its newest casino, which will be built on the coast just outside of Manila. However, this will only happen after it completes its Solaire North development in Vertis.
Bloomberry’s plan was revealed by Jonas Isaac, director of investor relations: “We’ll probably start major construction works after we open Solaire North next year, but that doesn’t preclude us from doing surveys, studies, master planning, getting an environmental compliance certificate, and priming ourselves for major work to be done after Solaire North.”

Ambrose So, Vice Chairman of SJM Holdings, sells stock.

Ambrose So Shu Fai, Vice-Chairman and CEO of SJM Holdings, has sold HK$86.99m (US$11.1m) in SJM stocks so far in August, totaling around 30 million shares, reducing his position to 2.79% from 3.31%.

Meanwhile, SJM chairman Daisy Ho Chiu Fung spent HK$27.78 million to increase her stake from 0.13% to 0.30%. It’s unclear whether she bought the stocks from Mr Ambrose.

Footfall in Macau has dropped by 99%.

Footfall in the region dropped by 99% last month as a result of the 12-day lockdown in Macau in July and China’s strict zero-Covid policy, while overall footfall dropped by 26.3% in the first seven months of the year compared to 2021.

As a result of the restrictions, many casinos and resorts in Macau’s embattled Chinese gambling hub reported significant losses in Q2 reports.

Macau’s promotion on the Chinese mainland has resumed.

The Government Tourism Office (MGTO) of Macau will resume its promotion of the city as a tourist destination on the Chinese mainland in a campaign that will last until the end of 2022.

The campaign aims to attract more Chinese nationals to Macau, as the Chinese mainland is the only part of the world with a quarantine-free agreement with the gambling province.

We will most likely begin major construction work after the opening of Solaire North next year, but that does not preclude us from conducting surveys, studies, master planning, obtaining an environmental compliance certificate, and preparing for major work after the opening of Solaire North.

Jonathan Isaac

Meanwhile, this week’s other stories included…

Singapore has a new Gambling Regulatory Authority.

Singapore’s inaugural Gambling Regulatory Authority (GRA) has replaced the Casino Regulatory Authority as the country’s new gambling regulator, while also taking on new responsibilities.

Teo Chun Ching, the new body’s first chief executive, addressed the evolution of modern gambling at the ceremony, saying: “There are more and more variants of gaming, gambling, and games of chance, such as those involving cryptocurrencies or using crypto technology.”

She Zhijiang is apprehended by Thai police after a decade on the run.

Thai police apprehended She Zhijiang, who was suspected of running illegal online gambling operations.

According to Thailand’s deputy police spokesperson, Zhijiang will be sent to China to face the charges soon. “He is a suspect that the Chinese authority wants… the extradition process to China is currently underway.”

Zhijiang is suspected of being the Chairman of Yatai Holdings, a company that recently built a $15 billion casino complex in Myanmar. Zhijiang is a Cambodian citizen who was detained as the subject of an international warrant and an Interpol red notice.

Have you missed a major gambling industry story in Asia? Don’t worry, we’ve got you covered with our Asia round-up.

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