Sands China revenue falls; Marina Bay Sands soars
Las Vegas Sands (LVS) has seen starkly different financial results reported by its Macau and Singapore operations.
Once LVS' breadwinner, Sands China (Macau) revenue has plummeted from $855m in Q2 2021 to $374m this quarter, a decrease of 56% year-on-year.
Although significant, this is understandable given the backdrop of Macau’s ceaseless lockdown measures and travel ban policies.
Hong Kong gambling syndicate bust leads to 48 arrests
Hong Kong police carried out a series of raids across the city on 21 July 2022, to cut down on a triad-controlled syndicate that has allegedly generated HK$33m (US$4.2m) from illegal gambling activity over the past two years.
According to the South China Morning Post, authorities seized HK$13m in crime proceeds, including HK$2m in cash, two sports cars and 10 luxury watches; during busts in the Yau Ma Tei, Mong Kok, Sham Shui Po and Yuen Long districts.
Resorts World Manila rebrands as Newport World Resorts
Resorts World Manila, the Philippines’ first integrated resort, will now be known as Newport World Resorts following an announcement made on 20 July 2022.
A statement from the company read: “Newport World Resorts is reinventing the brand to bring together its integrated resorts and the best of its community within the Newport City complex.
“The name change reflects a shift in perspective for the brand to present itself as the most innovative, dynamic and comprehensive casino, hotel and entertainment complex.”
Steve Wynn asks US federal court to dismiss DOJ civil lawsuit
Founder of Wynn Resorts, Steve Wynn, has asked a US federal court to discard a lawsuit brought against him by the Department of Justice (DOJ).
Earlier this year, the DOJ sought an order for Wynn to register under the Foreign Agents Registration Act (FARA).
However, Wynn claimed: “I [was acting] in the interests of the United States by bringing [opportunities] to President Trump, not as an agent of a Chinese official of government.”
Jordan Matthews: Wynn “in touch” with ex-Chinese Government Minister
Speaking exclusively to Gambling Insider earlier this week, Jordan Matthews, lead counsel in the Racketeer Influenced and Corrupt Organisations (RICO) case against Steve Wynn, said the following...
Matthews: On or around October 20, 2020, Elliott Broidy, a former RNC Deputy Finance Chair, pleaded guilty to violating FARA in connection with his alleged efforts to influence the prior Administration, to extradite Guo Wengui, and to have the DOJ drop its prosecution of certain parties tied to the 1MDB scandal.
During this process, Broidy allegedly contacted Steve Wynn due to Wynn’s relationship with Donald Trump, and considering Wynn’s prior position as the Chairman of the Republican Finance Committee. It was during this exchange that Wynn was allegedly in touch with Sun Lijun, the then-Vice Minister of the People's Republic of China Ministry of Public Security.
The DOJ’s complaint against Steve Wynn alleges that he lobbied people in the Trump Administration, including then-President Trump, on at least three separate occasions.
For more on our exclusive interview with Matthews, click here.
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