Tag: casino

New Melco Cyprus Casino in Limassol Underperforms

Melco has opened a new casino in Limassol Cyprus
July 10, 2018

The new Melco Cyprus Casino in Limassol has welcomed over 7000 visitors since it opened it doors on June 28, but the operator has been expecting much more footfall. Competition from casinos in Northern Cyprus seems to be the cause of the problem, as well as local gambling laws. Competition from Up North This is the first casino in Southern Cyprus, and it is facing competition from over two dozen casinos in the north. Casinos in the Turkish Republic of Northern Cyprus adhere to vastly different gaming regulations, and many of them provide players with free alcohol and tobacco. Another… Read More

Trends in Casino Entertainment

Macau Casino
July 3, 2018

Buying buses for mass-market gamblers is one way casinos are trying to attract more players, especially in Macau. However, when it comes to entertainment there is a whole string of different options, some of which are more successful than others. Valley Forge is offering wedding packages. Andrew Klebanow was interviewed recently and discussed what some of the land-based casinos are doing to maintain their competitive edge. Online gaming portals can take a huge chunk of revenue from brick and mortar facilities. In the past, players needed to drive to casinos, sometimes for miles to have fun. With online venues it… Read More

Paradise Company Casino Better Revenue for May

Paradise Company Casino Better Revenue for May
June 9, 2018

The news was bleak for some casinos regarding May gaming revenue, but Paradise Company reported their revenue bounced back after lower numbers in the first quarter. Paradise Company is the foreigner-only casino operator in South Korea. In recent months, the company has not reported earnings, but losses. However, its recent report to the Korean Stock Exchange shows the company is back. Paradise Company has a new record for their success in May. The casino revenue was $48.5 million for May 2018, which was up from May of 2017. Last year they only made $38.63 million. The details show Paradise made… Read More

Success Universe Group Increases Gambling Stake

Success Universe Group Increases Gambling Stake
June 2, 2018

With casinos raking it in, there is no reason why others wouldn’t want to join in the earnings. One investor is increasing his stake in Success Universe Group. In a Hong Kong Stock Exchange filing, Success Universe Group announced that Sonny Yeung Hoi Sing, the chairman, and executive director, increased his stake in the company. He will increase his shares from 52.10 percent to 71.52 percent. The new investment rose 19.42 percent. Yeung is buying the shares through Silver Rich Macau. The purchase of shares provides him control over 3.52 billion SUG shares. The announcement is linked to a deal… Read More