Lottery supplier MelcoLot Ltd posted a net loss of HK$37.4 million (US$4.8 million) in the three months ended September 30, compared with HK$9.9 million a year earlier. The company, which is listed on the Hong Kong Stock Exchange’s Growth Enterprise Market, said in a filing on Thursday that it posted quarterly revenue of HK$11.8 million,
Casino Resort City of Dreams Manila (pictured in artist rendering) will open in December, said Lawrence Ho Yau Lung, co-chairman and chief executive of Melco Crown Entertainment. The initiative is a partnership between Melco Crown and Premium Leisure Corp, owned by the family of Philippine billionaire Henry Shi. The property’s grand opening is scheduled for
Japanese politicians continue to send mixed signals about the prospect of legislation legalizing casino principles in Japan being passed this parliamentary session. On Wednesday, GGRAsia was told by a person with direct knowledge of the matter that a cross-party lobby of Japanese lawmakers would make the “best effort” to ensure the passage of the revitalization
Kazuo Okada’s Universal Entertainment said in a filing to Jasdaq on Friday that it would continue to release the results of its arms length report, which it commissioned “a total of US$30 million in 2010 expenditure.” It noted that a criminal investigation into the matter is ongoing. Based on the results of the report, Universal
Personal income taxes on income from casino winnings are likely to be abolished in Vietnam, according to local media outlet VietnamNet, citing reports from Vietnam’s parliament. However, the loss to U.S. tax authorities, estimated at US$9.52 million per year, is likely offset by a five percentage point increase in special excise taxes applied to gambling.