Category: Casino Industry News

Macau Casinos Will Start Mandatory Covid-19 Tests From July 15th

Macau Casinos Will Start Mandatory Covid-19 Tests From July 15th

All Macau casino workers and visitors will be required to undergo Covid-19 testing to enter the casino. This was the headline news we got from the latest statement coming from the Gaming Inspection and Coordination Bureau. If you live in the city or plan on visiting Macau in the near future, this page will help you find out the latest information and safety requirements in the city’s casinos.

The DICJ Statement

The Gaming Inspection and Coordination Bureau, also known as DICJ, issued new requirements and guides in the statement they made on Monday, July 13th. From Wednesday, July 15th, all people who wish to enter Macau’s casinos will have to test negative for the Coronavirus. Anyone who intends to work or play in any of the city’s casinos will have to present a health-declaration statement and a valid nucleic acid test. Additionally, every person will have their body temperature measured before entering the casino.

The DICJ also urged casino operators to implement more rigorous inspection methods to ensure that all epidemic prevention methods are as efficient as they can be. They again appealed to venues to follow the recommended guidelines for fresh air circulation and ensure optimal indoor air quality to minimize the spread of airborne particles. While this page is focused on the gaming side of these measures, all of the latest requirements also apply to all people who wish to enter any non-gaming area in Macau as well.

Aside from all of this new information, there is some good news regarding travel to and from Macau. On the same day of the previous announcements, the DICJ also announced that they would be removing the ban for people who had been in Hubei in the last 14 days prior to coming to the city. This ban has prior been in place for almost six months. In the same line, the 14-day quarantine requirement for people traveling to and from the Guangdong province has been lifted.

The Availability of Covid-19 Tests

Although most countries around the world are struggling with obtaining Covid-19 tests, Macau’s Health Bureau assures all citizens and tourists that there are enough tests for everyone. The government’s current testing capacity is 16,000 tests per day. These nucleic acid tests are fast-acting and provide you with results on the spot. So, while it may take you a few minutes more to enter the casino, if you plan on gaming in Macau, the enclave welcomes you.

RGB Experiences Huge Revenue Increase but Still Suffers a Weak 1Q

RGB Experiences Huge Revenue Increase but Still Suffers a Weak 1Q

RGB International Bhd has been one of the most stable casino equipment makers on the market. The company has experienced steady growth over the past few years, in a trend that has continued into this year as well. In the first quarter of 2020, RGB has experienced a 48.4 percent increase in revenue. But, despite this, the first quarter of this year has had a significant financial impact on the company, as it noted a profit drop of 46.4 judged on the year-to-year comparison. Continue reading to find out more.

RGB in Detailed Numbers

Leading up to March 31st, the company’s revenue was MYR77.4 million, compared to the MYR52.2 million they recorded over the same period last year. The most significant profit boost came in the form of a dramatic increase in products sold compared to the same quarter of the previous year. That said, RGB also experienced a massive spike in the cost of sales, totaling over 90 percent compared to 2019. Before taxation, interest, depreciation, and other fees and expenses, the company recorded earnings of MYR18.6 million. This equals to a 23 percent rise from the same period the year before.

Going by these numbers, it’s clear to see that even though RGB experienced a substantial increase in revenue, their total profits have been less than impressive. The extra expenses and losses have mostly come from the group’s technical support and management division. This part of their company recorded an increase in revenue of close to 11 percent, but with a total loss of MYR2.1 million. This s significantly worse compared to 2019, during which this department netted a profit of nearly MYR6 million.

Company representatives stated that this loss came as the impact of the Covid-19 crisis, which had a significant effect on every gaming establishment all over the globe. Moreover, they also went on record saying that the financial impact of the crisis could play a vital role in the entire RGB group. In line with this, the company has been implementing various cost control measures to lessen the financial strain and extra expenses caused by the crisis.

During June’s tax filling, RGB has said that a certain number of its providers operating in the Asia-Pacific region have begun working again, after temporarily suspending all operations over the previous several months.  Namely, most of the RGB-powered casinos stopped business entirely around mid-March, when various countries started introducing more stringent lockdown and quarantine regulations.

No Dividend Payout For 2019

Aside from being a successful casino equipment maker, RGB is also very active in the sales and marketing branches of the casino industry. As such, it regularly pays out dividends at the end of every year. However, during the circumstances surrounding the Covid-19 pandemic, the Malaysian-based company has made a precedent announcing earlier this year that they won’t be paying out dividends for 2019.

According to company representatives, RGB is positioning itself to be ready for the upturn. Still, it’s clear to see that the economic uncertainties surrounding the current situation have made a significant impact on the company’s decision-making.

Las Vegas Strip Revenue Down 9.25 in October This Year

Las Vegas Strip Revenue Down 9.25 in October This Year

With October well behind us, Nevada’s casino industry has announced its numbers for usually one of the busiest months of the year. However, the numbers this year around have been less than impressive. More precisely, the Las Vegas Strip has recorded a gross gaming revenue decline of almost 10 percent. Continue reading to find out more.

Las Vegas Casinos Gross Revenue Across the Board

This percentage seems even bigger when put in real money numbers. Compared to October 2018, Strip casinos raked in approximately $55 million less in the same month this year. In 2019, their gross gaming revenue was $538.5 million, compared to $593 million last year. To dig in a bit deeper and look at the statistics by each popular game, blackjack remained the highest-grossing game for Las Vegas Strip casinos, bringing in $92.2 million in October. Roulette and baccarat also suffered loses of around 30 percent compared to last year’s numbers for the same month. The only popular game that recorded a gross gaming revenue gain was penny slots, with a 5.8 percent gain.

With that being said, not all Las Vegas numbers were bad in October. Downtown Las Vegas recorded a 7 percent increase in revenue, totaling close to $5 million in profit. Moreover, South Tahoe posted the best numbers out of everyone, with a boost of over 14 percent, and over $2 million more compared to the same month last year.

Overall, despite this significant drop, the Strip has suffered in October this year, there are very few reasons for worry. The entire State of Nevada recorded gross gaming revenue of over $1 billion for a second straight month. For reminders, September was an all-time best month of September for this gambler-friendly state, as the overall revenue for the month was $952.4 million.

Las Vegas vs. NJ Numbers

New Jersey and Nevada are two of the biggest gambling locations in the US and ones that maintain a healthy position well in front of any other market. The two states usually go neck in neck in terms of profit, with Nevada often coming on top. Despite poor number Las Vegas casinos have recorded in the month of October, they still managed to edge out NJ oddsmakers. During the same period, Nevada sportsbooks recorded winnings of $47.88 million, while NJ sports betting shops recorded wins of $46.39 million.

Casinos Are Helping Macau To Meet 5-Year Plan Goals

Casinos Are Helping Macau To Meet 5-Year Plan Goals

The gaming industry of Macau has successfully maintained a “healthy“ development for the period of 2016-2018, according to the so-called “mid-term review” conducted by the local government last Wednesday. It was considered quite a progress when Macau’s first five-year development plan is considered. The central government of China has had many five-year plans intended for the mainland economy ever since the foundation of the Communist Party of China in 1949, but this was something completely new for the governmental system of Macau.

The before-mentioned phrase “healthy development” is typically used by the officials of the Macau government when they think of their casino sector, sometimes in the meaning of the pace of the expansion in Macau’s GGR ( Gross Gaming Revenue).

Five-Year Development plan of Macau was officially announced in September of 2016, and it had a couple of economical and social aspirations for this city. Several targets were completed when the first year of the development plan came to an end. This five-year plan is intended from 2016 to 2020. Limits or targets for casino gross gaming revenue weren’t set. Although the plan did mention a few aspirations regarding the local gaming sector.

Those aspirations were that the gaming sector should probably: strengthen gaming regulations and policies; expand the proportion of the revenue which is non-gaming in comparison to the whole revenue that they generate; they should definitely concentrate on the quality of jobs as well as the employment chances available to the ID holders of Macau at the nearby casino resorts.

As it is written in the mid-term review of the five-year-old Macau plan, the non-gaming revenue of NGR accounted for in the year 2018 is precisely 9.97% of the whole revenue, which was generated by the casino operators of Macau. In the previous year, it was 10.36% of the entire revenue, while in 2016, it was 10.7% of the total revenue.

The figures have definitely exceeded the expectations of the Macau government, as it was stated in the mid-term review. The grand five-year plan has noted that the NGR or the non-gaming revenue accounting for a minimum of 9% of the entire revenue generated by the casino resorts by the revenue of 2020.

Another goal of that plan is to boost casino operators’ acquirements of local services and products as a proportion of their entire spend on outsourced supplies. In the year of 2016, those local supplies were about 58% of that spend; in 2017, the supplies were %62.69 of that spend, and in 2018, they were 65.04%, according to the mid-term review.

In the five-year Macau plan, there was also an objective of reducing to 76% by the year 2020, the proportion of gaming workers in Macau without having higher education as opposed to 80% in 2015. That goal was almost a reality in 2016 when somewhere around 77.8% of the gaming workers in Macau were without higher education. In 2018, it stood at 75.9%. 

Betfred Fined £322k After Customer Deposits £210k of Stolen Money

Betfred Fined £322k After Customer Deposits £210k of Stolen Money

Betfred, an online bookmaker, has agreed to pay £322,000 or approximately $400,000 to settle the allegations.  It has granted a fraudster who has already been convicted for that felony to deposit £210,000 or $261,000 of stolen money on their online platform. That particular customer had lost approximately £140,000 or $216,000 to Betfred when it was gambling for twelve straight days.

An investigation was led by the well-known regulatory company, UKGC, or the UK Gambling Commission, and they have concluded that Betfred has managed to break the anti-money laundering rules when they’ve failed to check the exact source of the funds of the fraudster.

“The management of this particular customer regarding the AML has raised significant worries concerning the effectiveness of the procedures and policies that this online bookmaker had in place, and also it handling of risks in relation to the licensing objectives,” by the words of UKGC. “Ever since this incident, Betfred has made many improvements to its anti-money laundering procedures to prevent these failings from reoccurring.”

The regulator has noted that the Betfred operator made a request twice for SOF, which stands for the source of funds, in the duration of 12 days in November 2017, but still allowed the fraudster to gamble and make a huge six-figure sum loss, even though the reply never came.

The UK Gambling Commission didn’t find the fraudster’s identity, which was quite unfortunate. Although a search in the UK may have found one candidate who fits the entire scenario. This September, Joyce Baker, who was a financial manager at Light Corporation situated in Berkhamsted, Hertfordshire, was sentenced for five years and ten months for fraud when she embezzled over £2,000,000 from her ex-employer at this corporation.

Caesars Entertainment Corp Is Selling Rio For Less Money Than The Valuation From 2017

Caesars Entertainment Corp Is Selling Rio For Less Money Than The Valuation From 2017

Caesars Entertainment will soon sell the Las Vegas Rio for $516 million to a principal in New York called Imperial Companies, which is a real estate investment firm. That selling price for the Rio Casino and Hotel is quite lower than the initial valuation from 2017, which was between $636 and $836 million. That valuation for Caesars was conducted by Moelis & Co. The sale of the Rio Hotel and Casino was a matter of time because it wasn’t a part of the upgrades that Caesars made.

Big chances are that the transaction is going to happen in the fourth quarter of 2019, according to the word of investors from the Deutsche Bank. For the deal to happen, it has to be approved by regulators. This Friday, Imperial has put a substantial amount of money- $5 million in an escrow amount as the first payment for the Las Vegas Rio. The terms are these; the Caesers is going to operate the venue for a minimum of 2 years, and it will also pay $45 million in rent per year. Imperial has an option to pay Caesars Entertainment Corp $7 million in order to make an extension of the lease for one extra year. After, Caesars has an option to either provide types of services or manage the property to Imperial as the venue makes the new-owner transition.

Since the year 2005, the World Series of Poker has taken place at the well-known Rio. That event will have a new location in the Caesars Forum conference center. The worth of that conference center is $375 million, and it has 550 square feet. It will open in the year 2020.

Major news is that the Caesars will likely be bought by Eldorado Resorts Inc, based in Reno, for a whopping $17.3 billion. CEO of Eldorado, Thomas Reeg made a statement that one or even two out of nine Caesars properties are going to be sold, and foreshadowed the sale of Rio. The Ceo of Caesars, Tony Rodio said that with that deal, Caesars will focus its resources towards the newly renovated Strip properties and make some big money out of them. Rodio also said that it’s a great thing that they’ve held the right to be the hosts of the Caesars Rewards Customers and the World Series Of Poker.

Their official homepage: https://www.caesars.com/corporate

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