Philippines Bureau of Internal Revenue relaxes taxation on POGOs

BIR has reduced some tax requirements for POGOs to be able to resume their operations POGOs operations have been suspended since March, following the memorandum issued by the Philippine Amusement and Gaming Corporation (PAGCOR), to suspend all land-based and online casino gaming operations as a response to the government’s call to prevent the spread of…

Macau Golden Group to permanently shutter 3 VIP clubs

Due to the impact of COVID-19, Macau Golden group has decided to lose some of its weight to remain competitive

Melco Resorts requests another extension on Studio City phase 2

Melco called for a fund raising to help complete Phase 2 of its development, and is expected to raise between US$450 million and US$500 million Melco Resorts & Entertainment reveals that it cannot meet the deadline completion of Phase 2 of the integrated resort development in Macau – Studio City – on May 31, 2022. 

Macau’s casinos expected to post a loss of $1 billion by the end of the year

Daily operating expenses for the six major casinos operating in Macau has been reduced by 21 percent year-on-year There are six licensed casino operators in Macao including Sands China, SJM Holdings, Wynn Macau, Galaxy Entertainment Group, MGM China Holdings and Melco Crown Entertainment.

500.com might face New York Stock Exchange suspension over failure to submit 2019 annual report

NYSE has been asking for the report since 31st December 2019 China’s largest lottery website 500.com (HQ in Shenzhen, Guangdong Province) is facing crisis of NYSE suspension due to failure to submit the 2019 annual report as of December 31, 2019.

Philippine gaming company LRWC records revenue drop in 1Q

Leisure and Resorts World Corp (LRWC) has reported a decline of P108 million (US$2.17 million) for the first quarter of the year compared to the same period last year The decline was reported following the suspension of all casino operations in the country in response to the government’s call to prevent the spread of the…

Japanese government mulls decision to postpone IR bidding period

Japan Government deliberates revisions on Japan’s IR bidding period for local governments Kazuyoshi Akaba, Land, Infrastructure, Transport and Tourism Minister, has confirmed at a press conference held on 30 June, that the federal government is reconsidering a decision made on the postponement of the IR bidding period for local governments to apply for an IR…

Fresh cases of COVID-19 halts Kangwon Land reopening

Kangwon Land has postponed plans to reopen its doors after spike in Covid cases South Korea – Kangwon Land, the only casino in the country that allows locals to gamble, has once again pushed back their reopening date to 13 July. 

Booongo announces partnership with Flow Gaming to expand in Asia

Company’s slots portfolio made available through platform provider Slots developer Booongo has strengthened its position in Asia after securing a new partnership with platform provider Booongo announces partership Flow Gaming to expand in Asia.

Macau’s gross gambling income hits record low in June 2020

Macau’s overall gross gaming income in June was only MOP $716 million (US$ 89.7 million) Ho Iat Seng, claimed that the industry will contribute greatly to the island especially after being badly hit by the COVID-19 pandemic.