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Suncity Group to acquire casinos in Asia

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Suncity Group Holdings Ltd., a Hong Kong-based investment holding company is planning to expand its business further in Asia. It plans to diversify its business that would take it from being the biggest gaming promoter to becoming a “pure gaming” by 2020.

The company is actively looking for acquiring casinos in other Asian countries such as South Korea, the Philippines, and Myanmar. It is looking for casinos in Russia as well.

The company is also looking for ways on how to inject its present business model into its future casino ventures, according to Suncity Executive Director Andrew Lo Kai Bong.

In its 2017 annual report, Suncity presented ongoing projects such as property developments in Shenzhen, part of China’s Guangdong province, and in Anhui province. Suncity also announced plans for another property development in Liaoning province.

Suncity reiterated its commitment to manage a casino resort at Van Don in Vietnam on behalf of third-party investors. But Suncity announced late last month that it had deferred the completion of its acquisition of a 34 per cent share in the Hoiana project.

Suncity originally planned to close the HK$600-million (US$76.8-million) Hoiana deal last May 31st but moved the payment deadline to July 31.

Lo attributed the delay to procedures that needed to be completed regarding Hoiana’s phase one land plot.

“It is a vast piece of land of 163 hectares [403 acres], which takes time for the process of obtaining the land certificates for it. But now this process is soon to be over,” Lo said, according to the news outlet.

In 2015, Suncity entered into a co-operation with Chow Tai Fook Group subsidiary Golden Yield Enterprise (GYE) and Vietnam-based Vinacapital to develop the $4 billion integrated resort project in the central province of Quang Nam.

Hoiana’s first phase will include a 445-room hotel, 220 residential apartments operated by Hong Kong’s New World Hotels, a luxury Rosewood resort offering 75 villas and 25 residences, a golf course and a casino.

Gaming analysts noted that Suncity’s transition from an agency to principal model made sense, especially in light of strong VIP trends in Macau and regionally. The only downside that gaming analysts saw was that its transition brought with it risks to Macau, where other casino operators may not wish to employ a junket operated by a direct rival.

Source: CalvinAyre.com

Source: European Gaming Media and Events

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MGM Ends the Talks to Buy Encore Boston Harbor Casino Resort

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MGM has ended the talks with Wynn Resort to buy the Encore Boston Harbor Casino. The nearly finished property and Wynn Resorts as a whole were roped in a scandal of massive proportions that stemmed from multiple sexual misconduct allegations leveled against the casino operator’s ex-boss and founder Steve Wynn.

MGM said in a statement that they “have noted the anxiety raised by various stakeholders regarding a transaction” and that they think “the best course of action is to discontinue discussions” concerning the opportunity to buy Encore Boston Harbor. The statement further read that the company wishes to have “a positive impact on communities in which we operate.”

Wynn Resorts said in a statement that it has agreed to cease discussions with MGM “after careful consideration.” The company added that it is committed to opening and running the 671-room hotel and casino resort located along the Mystic River in Everett.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: MGM Ends the Talks to Buy Encore Boston Harbor Casino Resort

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Genting Completes the Refurbishment of Luton Casino

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The Genting Group has completed the £750,000 refurbishment works on the Luton Casino. The refurbishment work has been done to make the gaming experience better for visitors. As such, the company worked on remodeling and adding new amenities to the venue including additional facilities at the bar and lounge areas.

Refurbishment includes the increase in gaming space to host additional gaming machines. The number of slot machines at the property has also increased from 28 to 40. New electronic terminals have also been installed.

“We are all incredibly proud to unveil our brand-new refurbishment. We are confident that the changes will offer our valued customers an improved gaming experience, and we are particularly excited about the new poker offering. Customers looking to socialize and meet up with friends at the casino can also enjoy the newly refurbished bar and lounge areas,” James Harvey, general manager at Genting Casino Luton said.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Genting Completes the Refurbishment of Luton Casino

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BetMakers Signs Deal with Betgenius

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Global Betting Services, the wholly-owned subsidiary of BetMakers Holdings Limited, has entered into an agreement with Betgenius Limited, the global wagering technology company, for the distribution of its complete racing solution.

Betgenius provides services to over 150 licensed bookmakers in regulated markets around the world with its premium sportsbook management solutions, which includes live data and outsourced trading for pre-match and in-play betting.

The Agreement provides Betgenius customers with access to rich horse racing data via eventlife cycle information, BetMakers’ proprietary fixed pricing and enhanced data packages for around 250,000 races per year includes content from the UK and Ireland, Asia, Australasia, and North and South America.

“Betgenius is a world-wide leader in providing B2B solutions to wagering operators for their sports offering. We are delighted they have chosen BetMakers for their racing solution to offer their clients. This deal allows us to accelerate our racing product and pricing into a range of wagering operators globally and we believe it gives Betgenius clients the best horse racing product in the market, to sit alongside their already established sports services,” CEO of BetMakers, Todd Buckingham said.

“We are always striving to give our partners simple access to high quality content that will drive their turnover and margin, and this deal with BetMakers does exactly that,” Matt Stephenson, Global Partnerships Director at Betgenius said.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: BetMakers Signs Deal with Betgenius

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