Asia

Derivative asset declines & XE impacts see Genting Singapore hit the red

Exchange rate impacts combined with a decline in derivative asset values have swung Getting Singapore into the red, as the Asian gambling operator declared combined losses of SGD $16.9 million (£7.7 million) for its Q2 2015 performance (period ending 30 June). Ahead of its performance update, Genting governance had issued a profit warning to the Singapore stock exchange. Genting would …

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Packer steps down as Chairman of Crown Resorts

Following numerous quarters of consecutive performance declines, billionaire James Packer has confirmed that he will step down as Crown Resorts Executive Chairman. As majority shareholder in the business, Packer will be transferred to a senior executive placement within the casino operator’s governance. Packer will further maintain his Co-Chairman position of subsidiary Melco Crown Entertainment Asia. Packer will be replaced as …

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Qatar Racing and Equestrian Club sponsors Phoenix Sprint at Curragh

The Qatar Racing and Equestrian Club has signed a deal with the Curragh racecourse to sponsor the Group 3 Phoenix Sprint on Sunday, 9 August, 2015. The race is run over 6 furlongs. Nasser Al Kaabi, General Manager of QREC, commented: “We are very pleased to have secured the sponsorship of the Group 3 Phoenix Sprint at The Curragh on 9 August which …

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Bango Ray Anderson selected to represent UK commerce on PM’s “Asia Trade Mission”

Mobile payments provider Bango Plc CEO Ray Anderson has been selected as a delegate to represent UK commerce and business in Prime Minister David Cameron;’s “Asia Trade Mission”. The commercial trip to visit heads of state of Asia, will focus on promoting the UK’s fast growing financial technology sector. Unlike similar visits in the past, Mr Cameron’s party will have …

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Echo bid beats Packer’s Crown Resort for Brisbane casino project

Queensland State has awarded its Brisbane casino resort project to leisure and gambling operator Echo Entertainment Group Ltd. Following a tender process, the Queensland government awarded the Echo bid over the casino proposal submitted by James Packer’s Crown Resorts. Echo will build a AUS $2 billion (£1 billion) casino on Brisbane’s river front, the investment will be by a consortium …

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GBI Racing – British & Irish racing attracts record betting turnover overseas

GBI Racing, which broadcasts British and Irish racing to betting shops and online operators in more than 40 countries, has reported a record performance for the first half of 2015. Preliminary results for the six months up to June 30, 2015 showed an operating profit of £6.5m, up £0.6m up on the same period in 2014. Factors behind the uplift include:  …

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IPL match fixing suspensions rock Indian cricket

Indian Premier League (IPL) cricket has been rocked, following the decision of an appointed panel to suspend the Chennai Super Kings and Rajasthan Royals on corruption charges relating to illegal betting and match fixing. The cricket teams which form part of an eight team league have been suspended for a period of two years. The three man appointed panel further …

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Openbet to work with Singapore Pools

Singapore’s PAP government one of the strictest purveyors of anti online gambling/betting laws in the world, could open its market to legalised sports betting by allowing the Singapore Pools and Singapore Turf Club to seek exemption of its Remote Gambling Act (RGA). The Singapore Ministry of Home Affairs has confirmed that the governance of both state owned gambling enterprises have …

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Regulus strengthens consultancy with appointment of Jay & Scott

Gambling strategic consultancy Regulus Partners has announced that it has strengthened its advisory team by appointing industry executives Patrick Jay and William Scott. The appointments will bolster Regulus industry specific capabilities which include corporate development, supply side strategy and due diligence. Patrick Jay was most recently Head of Trading at the Hong Kong Jockey Club, managing operations in Hong Kong, …

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188BET appoints Karl Riley as Marketing Director as operator eyes new market expansion

188BET has confirmed the appointment of former Gala Coral and BetVictor Marketing Director Karl Riley as its new Head of Marketing for UK, Europe and Latin American regions. Riley will be charged with leading 188BET marketing initiatives in new territories as the operator looks to expand its presence and coverage beyond its core Asian betting markets. Riley will be based out …

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