Three months after James Packer and his Hong Kong joint venture partner Lawrence Ho agreed to spend USD 900 million (AUD 1.2 billion) buying a Macau casino licence, it is now valued at USD 1.36 billion. The valuation, done by Hong Kong firm American Appraisal, was released to the Hong Kong Stock Exchange this week as Mr Ho's company Melco moved to raise AUD 200 million to help fund its Macau casino ventures.
The Spanish manufacturer and operator Recreativos Franco-RF has reached an agreement with main shareholders of CODERE company regarding its leaving the latter. They have been working on this agreement for the last 8 months. Main shareholders of Codere operator are still the Martinez Sanpedro family, who will now control 80% of the share capital; its president is still José Antonio Martínez Sanpedro.
The company behind a new lottery game set up as a rival to the National Lottery is seeking new financial backing after disappointing sales. Chariot admitted that sales from its online game, launched last month, had not met expectations and that it would have to revise its business plan. Shares in Chariot - which floated this year - fell 65% on the news. The "Monday" game was designed to raise GBP 150m for charity a year but has so far raised just GBP 520,000.
Station Casinos stock wasn't the industry's best performer over the past year. But that didn't stop executives at the company's annual shareholder meeting last week from touting other things that matter. The company's profit margin (43 percent last year) is better than any of the major casino companies and its return on investment (24 percent) is also higher than the competition, bosses reminded the crowd.
Culture Secretary Tessa Jowell is being urged to overturn the decision to reject every bid for a regional casino in the West Midlands. The Government-appointed Casino Advisory Panel last week turned down all three applications for a so-called super-casino in the region. But Coventry North West MP Geoffrey Robinson (Lab) has arranged a meeting with Tessa Jowell MP, Secretary of State for Culture, Media and Sport, in a last-ditch attempt to save the region's bids.
Brierley Hill regeneration chiefs are still hopeful plans to bring a large gambling complex to town will get the go-ahead despite losing their bid to build Britain's first super casino. BHRP (Brierley Hill Regeneration Partnership) bosses had hoped to win the right to build a Las Vegas-style betting haven at Merry Hill to help create thousands of jobs and breathe new life into the borough.
Wednesday is the last day for smokers to light up at Canadian casinos, then business could light up on this side of the U.S.-Canada border. That's what The Seneca Nation of Indians is hoping for when a smoking ban goes into effect at Canadian gaming establishments June 1st.
Niagara Falls - A strike by over 350 security staff at Casino Niagara and Niagara Fallsview is set for 12:01 a.m. Friday, June 2, and could seriously impact on the safety of patrons says the Ontario Public Service Employees Union. "We have been trying to settle this contract for months," said Jodi Hutton, President of OPSEU Local 278. "So far, it appears that the employer isn't interested in avoiding a labour dispute."
Hong Kong (Reuters) - Mid-sized property developer K.Wah International is talking with investors including Harrah's Entertainment Inc. about selling some or all of a stake in Macau casino operator Galaxy Entertainment, a senior executive said. Market speculation that K.Wah is shopping for buyers for part or all of its 18.7 percent stake in Galaxy has sent the gaming firm's shares soaring nearly 30 percent in the last week to its highest level in over a year.
The regional government of the Valencia Community, in particular the Regional Treasury, has decided to adjudicate the casino of the city of Castellón (province of Castellón de La Plana) to the Orenes-Franco group. According to a government spokesman, the decision in favour of Orenes-Franco Group project was based -among other reasons- on the personal and financial guarantees, the quality of the premises, technology to be applied and to their management development plan. The new "Gran Casino Puerto Azahar de Castellón" will represent an investment of 19.3 mill. EUR and will generate 255 direct jobs, in addition to indirect and resulting jobs, a total of 545 new employees.
Austrian Gaming Industries GmbH (AGI), the wholly owned subsidiary of Novomatic Group of Companies, congratulates Casino Lisboa on its grand opening and says thank you for the large order of machines. When the new Casino Lisboa opened its doors on April 19th 2006 at Lisbon Nations Park, it presented a fascinating combination of entertainment, leisure and culture to its guests.
Finally, the government of the Valencia Community has approved the new bingo Regulations for this region, that counts on 75 bingo halls and annual sales of 40 million bingo cards. The most important news are the electronic and simultaneous bingo modes, as well as the prima prize, which will be set by the hall manager, and will go from EUR 100.- to EUR 1,200.-, in EUR 100 multiples.- The installation of machines specifically meant for bingo halls will be a reality once the next regional Regulations of Gaming Machines are approved, probably after the summer.
