Casino and resorts operator Bloomberry will ‘probably’ start construction of its newest casino, which will be built on the coast just outside of Manila. However, this will only happen after it completes its Solaire North in Vertis development.
The director for investor relations, Jonas Isaac, revealed Bloomberry’s plan by saying: “We’ll probably start major construction works after we open Solaire North next year, but that does not preclude us from doing surveys, studies, master planning, getting an environmental compliance certificate and prime ourselves for major work to be done after Solaire North.”
SJM Holdings Vice-Chairman Ambrose So sells stock
The Vice-Chairman and CEO of SJM Holdings, Ambrose So Shu Fai, has sold HK$86.99m (US$11.1m) in SJM stocks so far in August, which totalled around 30 million shares, reducing his position to 2.79% from 3.31%.
Meanwhile, SJM chairman Daisy Ho Chiu Fung simultaneously spent HK$27.78m on improving her stake from 0.13% to 0.30%. Whether she bought the stocks from Mr Ambrose remains unclear.
Macau sees 99% drop in footfall
As a result of the 12-day lockdown in Macau in July, and the strict zero-Covid policy in China, the region's footfall dropped by 99% last month; while the first seven months of the year has seen overall footfall drop by 26.3% compared to 2021.
Overall, the news from Macau has seen many casinos and resorts post severe losses in Q2 reports from the embattled Chinese gambling hub as a result of the restrictions.
Macau resumes promotion on Chinese mainland
Macau’s Government Tourism Office (MGTO) will resume its promotion as a travel destination on the Chinese mainland, in a campaign that will run until the end of 2022.
The push is being run with the aim of getting more Chinese nationals to Macau, as the Chinese mainland is the only part of the world that has a quarantine-free agreement with the gambling province.
We’ll probably start major construction works after we open Solaire North next year but that does not preclude us from doing surveys, studies, master planning, getting an environmental compliance certificate and prime ourselves for major work to be done after Solaire NorthJonas Isaac
Meanwhile, further stories from this week included...
New Gambling Regulatory Authority inaugurated in Singapore
The new body is led by Teo Chun Ching, the first chief executive in the body’s history, who addressed the evolution of modern gambling, saying at the ceremony: “There are more and more variants of gaming, gambling and games of chance, such as those involving cryptocurrencies or using crypto technology.”
Thai Police catch She Zhijiang, after decade on the run
Zhijiang will soon be sent to China to face the charges, according to Thailand’s deputy police spokesperson, who said: “He is a suspect that the Chinese authority wants... the extradition process to China is currently ongoing.
Zhijiang is suspected to be the Chairman of Yatai holdings, which recently developed a $15bn casino complex in Myanmar. Zhijiang is the holder of a Cambodian passport and was detained as the subject of an international warrant, along with an Interpol red notice.