Asia round-up: The Star revenue down, New Zealand’s gambling problems? Cambodia & more

Home » Asia round-up: The Star revenue down, New Zealand’s gambling problems? Cambodia & more

Winners of the Global Gaming Awards Asia 2022 have been announced.
The winners of the inaugural Global Gaming Awards Asia were announced earlier today in a virtual event.
Read on to find out what happened…

Revenue for the Star Entertainment Group in FY2022 is down 2%.

The Star Entertainment Group reported revenue of AU$1.53 billion (US$1.05 billion) for the fiscal year ended 30 June 2022, a 2% decrease from the previous year.

The operator reported EBITDA of AU$237 million, a 45% decrease year on year, and a net loss of AU$32 million.

The Star Sydney represented AU$781 million in total revenue, a 6% decrease from the previous year, with earnings significantly impacted by the property’s 102-day closure due to the Covid-19 pandemic. The venue’s EBITDA fell by 60% to AU$82 million.

With the property closed for 11 days, revenue at The Star Gold Coast increased 11% year on year to AU$424 million. EBITDA fell 20% to AU$90 million.

According to an AUT study, one out of every 400 problem gamblers seeks help.

According to a new global study from Auckland University of Technology, only one in every 400 adults seeks help for gambling problems (AUT).

The study, co-authored by Dr. Simone Rodda, Associate Professor of Psychology and Neuroscience at AUT, is the first to estimate how common it is for problem gamblers to seek help.

According to the study, 5.8% of the world’s adult population has a gambling problem, but only 0.2% has sought help. Meanwhile, one in every five people with severe gambling problems sought help, compared to one in every 25 people with moderate risk gambling.

Rodda stated that more needs to be done to help resolve the issue in Aotearoa, New Zealand’s Maori name.

“Our research shows that the majority of people with gambling problems will never seek treatment.” The rates of help-seeking in Aotearoa are comparable to global estimates, implying that we can do much more to ensure that gamblers receive assistance when they require it.” Associate Professor of Psychology and Neuroscience at AUT, Dr. Simone Rodda

In Cambodia, a Chinese casino manager was arrested for engaging in forced labor practices.

The Chinese manager of a Cambodian casino has been arrested and charged with forced labor.

It was previously reported that 42 Vietnamese nationalities fled the casino after being subjected to treatment akin to modern slavery.

General Keo Vannthan, the Immigration Department’s spokesperson, told local media that a team was sent to the Golden Phoenix Entertainment Casino in Kandal Province’s Koh Thom District and detained the manager for questioning. The identity of the manager has yet to be revealed.

For the time being, Kazuo will remain in Okada Manila.

After the Philippines Supreme Court declined to overturn the status quo order ante (SQOA) issued to Okada several months ago, Kazuo Okada is now set to stay at the Okada Manila resort.

The SQOA stated that Tiger Resort, Leisure and Entertainment Inc (TRLEI), the casino’s operator, must return to its previous state prior to Okada’s removal from the Board in 2017.

Okada was removed from the TRLEI Board after being accused of fraud and embezzlement. However, after TRLEI-owned Tiger Resorts Asia (TRAL) refused to reinstate Okada, Okada stormed the casino and took it back by force this spring.

Since then, Okada has retained control of the casino, with TRAL and its parent company, Universal Entertainment Corp, attempting to wrest control from the Japanese billionaire.

Analysts predict a slow recovery in the Macau gaming sector until 2023.

According to an analyst at investment bank Jeffries Group, the Macau gaming industry may not see stable financial results until 2023.

The sector has suffered significant losses as a result of an increase in Covid-19 cases, which has resulted in the government imposing strict travel restrictions and ordering businesses to close.

The consequences have been far-reaching, with unemployment reaching levels not seen since 2009.

Pansy Ho will be the MD of MGM China’s subsidiary.

MGM China Holdings has announced plans to invest MOP$4.8 billion (US$594 million) in a subsidiary to qualify for a new Macau casino license.

The move will work to ensure that the subsidiary, MGM Grand Paradise, meets the requirement that licence-holding companies have at least MOP$5 billion in capital.

If the tender is successful, Pansy Ho will continue to lead MGM Grand Paradise for at least another ten years, earning $8 million per year and receiving 730,000 Class B shares.

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

Leave a Reply

Your email address will not be published.