City of Dreams Leaving LRWC Causes Massive Losses

City of Dreams
May 19, 2018

After the City of Dreams Manila pulled out from the Leisure and Resorts World Corp. or LRWC for short, the total income for the groups’ 1st quarter has plummeted by 69.7% this year. After the financial statements from the firm were released a startling picture has been portrayed, the value of net income for the first quarter of the year previously stood at PHP272.1 million or US$5.46 million but it is now only standing at PHP82.4 million or US$1.57 million. The Causes of the Loss The company did point out that if not for several unfortunate and uncontrollable acts the… Read More

Travellers International Hotel Low Net Profit

Travellers International Hotel Low Net Profit
May 15, 2018

Travellers may want to refocus their position on mass market or middle-class patrons after their net profits are lower than expected. China sees great gains with middle-class gamblers, but there is also the issue of less space at one of Travellers locations. They are unable to support as many gamblers. Net profit information shows a third drop in profits. The gross gaming revenue has taken a toll on the hotel-casino operator. Travellers is a Philippine-based operator, with several partnerships, including Resorts World Manila, and a joint venture with Genting Hong Kong. They also share profits with the Philippines Alliance Global… Read More

Illinois’ Video Gambling Is Raking It In, but Casinos Aren’t Seeing a Dime

Illinois’ Video Gambling Is Raking It In
May 12, 2018

Video gambling is spinning out of control at the moment and the state of Illinois, as well as, the local government departments have benefitted immensely from the exponential increase in popularity of online gambling and games. However, not all of the parties in Illinois have gotten in on the action, casinos in cities such as Aurora where casinos used to have vast revenues are starting to face harder times. Are Casinos Dying Relics? All around Chicago, it seems that the formerly vast quantities of gambling revenue and therefore the taxation upon that revenue has dwindled; the culprit has been deemed… Read More

China’s Middle Class Will Shape Asia’s Casino Industry

China’s Middle Class Will Shape Asia’s Casino Industry
May 8, 2018

China applies a heavy hand to their gambling industry, including limiting what is available and where. In a recent study, it was stated China’s middle class would start to shape the casino industry in Asia. It is an industry that was once full of VIP players and is now changing. Last month the news about leaving behind VIPs showed the swing toward middle-class gamblers. Tourism statistics are also being studied to determine if what is being seen in China and Asia is what is truly happening. According to outbound trips from China, there has been exponential growth. The scale of… Read More