EBITDA rose 277% year-on-year to PHP 3.9bn, while net profit was PHP 1.8bn, reversing from net loss of PHP 1.2bn for the prior-year quarter. Cash and cash equivalents as of 30 June 2022 rose to PHP 36.8bn.
The company’s subsidiaries own and operate Solaire Resort & Casino, and Jeju Sun Hotel & Casino.
Total gross gaming revenue at Solaire was PHP 13.1bn, a 131% increase from the second quarter of 2021, with eased Covid-19 restrictions throughout the quarter furthering the recovery of gaming revenues.
Solaire’s VIP, mass table and EGM gross gaming revenues in the period amounted to PHP 4.4bn, PHP 4.1bn and PHP 4.6bn respectively. The figures represented year-on-year increases of 281%, 45% and 175% respectively. Bloomberry noted that growth across all segments was driven by higher gaming volumes.
Casino at Crown Sydney opens its doors
Crown Resorts has officially opened the casino at its AU$2.2bn (US$1.6bn) Crown Sydney development, over 18 months after the launch of non-gaming operations.
Crown Barangaroo now expects its VIP gaming facility to be fully operational by October 2022, when the Mahogany floor will open its doors. The main gaming floor, the Crystal Room, has now been opened.
The ACMA said 13 online casinos, that illegally offered their services to Australians, were found to have used the Proxous Advanced Solutions’ Realtime Gaming (RTG) branded software products
The gaming operation at Barangaroo has 160 tables, as well as 66 electronic tables across the Crystal Room, and 30 private salons on the Mahogany floor. There are no poker machines at the VIP-only facility, where a minimum bet of AU$20 applies.
Membership is free and is available to customers who sign up for the Crown Rewards programme. Existing Black and Platinum Crown Rewards members and their guests will gain initial access to the Crystal Room, followed by Gold Crown Rewards members at a later date.
Hong Kong to relax quarantine requirement to “3+4” days
The Hong Kong Government will relax its quarantine requirement for overseas arrivals, and Taiwan travellers, to “3+4” days from 12 August 2022.
The new quarantine system means tourists must spend three days quarantined at a designated hotel and four days at home or a holiday destination.
Hong Kong will operate a red and yellow code system; red indicates a person has Covid-19, yellow that a person is quarantined, while a blue code indicates that a person is no longer subject to any restrictions.
Hong Kong’s position is vastly different from Macau, which has adopted mainland China’s zero-Covid policy.
Although operations in Macau have returned to full capacity, the region is still on high alert after its most recent Covid-induced lockdown.
The relaxation of Hong Kong’s travel restrictions is a positive for Macau, though. The Hong Kong region has typically been the biggest source of Macau’s customer base, so only a relaxation of Macau’s own travel restrictions stands in the way of Hong Kong customers repopulating the gaming region.
ACMA issues formal warning to supplier Proxous
Australia’s Communications and Media Authority (ACMA) has officially warned supplier Proxous Advanced Solutions in a first for the regulator.
The ACMA said 13 online casinos that illegally offered their services to Australians were found to have used the supplier’s Realtime Gaming (RTG) branded software products.
According to the watchdog, Proxous knowingly sub-licensed these to said casinos, in breach of Australia’s 2001 Interactive Gambling Act.
Prior ACMA investigations discovered that each operator in question had illegally offered services to Australian customers.
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