One of the leading casino operators in Japan, the Okura Holdings Limited has just recently released its profit warning following releasing news that the company expects a massive comparable decline of around 83% in its earnings before taxation for a period of eleven months until the end of May. According to one related post released by Inside Asian Gaming, this Hong Kong-listed company used one of its official fillings to share more details about the expected comparable decline in its earnings.

The biggest reason behind issuing its profit warning is to advise all o sots investors to remain cautious when dealing with the company’s shares during these rough times caused by the ongoing coronavirus pandemic. The company’s officials also released that Okura Holdings Limited generated around $9.2 million in earnings for the previous financial period. However, while the latest profit warning raises fears that it may struggle greatly to reach $2 million which is a massive drop when compared to $9.2 in profits for the previous financial period.

Okura Holdings Limited Responsible for Seventeen Pachinko Halls

Okura Holdings Limited is one of the major pachinko halls and casino operators in Japan. As of the 16^th of April 2018, Okura Holdings Limited is responsible for seventeen pachinko halls which are located across different locations in Japan. The company particularly focuses on the Kyushu region where many of its pachinko halls are located. Either way, customers at its pachinko halls get to play both pachislot and pachinko games which are among the most popular entertainment forms in Japan.

The company opened its very first gaming venue in Nagasaki back in 1968 which means Okura Holdings Limited is among those long-standing gambling operators in Japan. Nagasaki is also home to the company’s main office. Back in 2003, the company has expanded into the thriving Kanto region following its major success in the Kyushu region.

Almost ten years later in 2012 Okura Holdings Limited opened its gaming facility in the Kansai region and one in the Chugoku region back in 2016. All in all, Okura Holdings Limited has gone a long way from its Monaco Hall that opened in 1968 as today it is one of the major nationwide pachinko hall operators with seventeen pachinko halls.

Considerable Decline Post-Coronavirus Pandemic

Okura Holdings Limited surely raised many eyebrows after deciding to keep its seventeen pachinko halls across the nation open ever after the Japanese government decided to put the nation into a state of emergency due to the ongoing coronavirus pandemic. The vast majority of such venues temporarily shutter form the 7^th of April while Okura Holdings Limited decided to suspend its business operations at facilities in Tokyo and Yokohama several days later before shuttering all of its seventeen properties across the nation.

In its latest profit filling, the company’s officials stated that their predicted declines in the company’s yearly earnings are generally attributable to a massive decline in the company’s revenues caused by lockdowns and other measures that came with the coronavirus outbreak. The company also stated that it expects to record impairment losses on its equipment, plant, property, and other assets for a period of twelve months until the end of this month.

At the moment, the company is still working on assessing the exact amount of its expected impairment losses while it also works on its post-coronavirus plan and how to get back in the game after all coronavirus-related measures are lifted by the nation’s government.

According to several local news outlets including Inside Asian Gaming, law enforcement officials in eastern parts of China have arrested several members of a known criminal gang due to many claims that they had been in fact responsible for operating illegal gaming syndicates. According to many claims, these illegal gaming syndicates have helped local residents to engage in gambling activities in casino venues in Macau.

According to one report released by Inside Asian Gaming, the criminal group operating an illegal gambling syndicate mainly operated from Jiangsu Province. It is also believed that the criminal gang encompassed eighteen members including their leader known to the public by his nickname Shi.

The same news outlet also reported several days ago that the unlawful, illegal organization and its members are also suspected of having offered local residents with chips and accounts they later used to engage in gambling activities at one of the thirty-nine Macau gaming venues. Several other local news outlets shared that this illegal organization from Jiangsu Province had netted around $184 in thirteen years from 2007 solely from commissions on those aforementioned advances.

Involvement in the Online Casino Gaming Industry

Situated around eight hundred miles from the former Portuguese enclave Macau, Jiangsu Province is home to over eighty million residents. The province is also one of the nation’s leading technology and finance centers. The criminal organization which mainly operated from Jiangsu Province is also suspected of offering local residents to wager real-money at its unlawful club via the telephone and Internet.

The leader of the criminal organization known by his nickname Shi was arrested back in May of 2018 or the first time. At the time, law enforcement officials referred to his unlawful business as a mega offshore gambling organization that according to the latest financial research had earned around $4.7 million at least in several years. The self-appointed and defined leader and head of this illicit investment firm was sentenced to sixteen years in prison. He was also forced to pay a fine of $17.4 million.

Chinese Authorities Intensifying Efforts to Fight Illegal iGaming Activities

Since August of 2019, law enforcement authorities in China have significantly intensified their efforts to fight illicit online casino gaming activities within its borders. One of the major goals is to combat cross-border illegal online casino gambling alongside combating underground payment platforms and banks which support such activities by allowing Chinese residents to fund illegal casino games.

This official revelation came shortly after the Chinese embassy located in the Philippines asked authorities in the country to wipe out firms and network operators which provide any kind of support for unlawful iGaming venues. The official statement reads that the government of China attaches importance to fighting cross-border casino gaming and gambling activities.

The last year, the Chinese Ministry of Public Security has taken a series of actions that are aimed at combating and preventing cross-border unlawful gambling while more operations will be taken this year. China will also focus on cracking some bigger cases related to criminal organizations that offer illicit overseas online gaming activities to its residents.

The fact is that many Chinese residents engage in illegal gambling after being lured by criminal organizations such as the one which was busted several days ago. Either way, intensified efforts to combat such activities will result in fewer telecom frauds and gambling crimes.

One of the leading investment banks in Asia has warned the Marina Bay Sands venue in Singapore that its recently-launched investigation may cost the facility a massive share of the VIP casino gambling market. The investigation was launched in order to determine whether the iconic gambling-friendly venue may have breached some of the mandatory anti-money laundering efforts and procedures.

According to one report released by Inside Asian Gaming, the investment bank which launched its investigation on Marina Bay Sands is Maybank Investment Bank Berhad based in Malaysia. The latest reports on the matter suggest that the inquiry started by the US Department of Justice into potentially breached anti-money laundering protocols at Marina Bay Sands may prompt many VIP high-rollers to start spending their money at the venue’s biggest competitor, the Resorts World Sentosa facility which is located nearby.

Marina Bay Sands Opened in 2010

The Marina Bay Sands facility owned and operated by Las Vegas Sands opened its doors to the public on the 27^th of April in 2010. The official opening took place on the 23^rd of June that same year while the grand opening ceremony took place on the 17^th of February 2011. Located in Downtown Core, Singapore, Marina Bay Sands is one of the most expensive, most luxurious integrated resorts of this kind in the world.

With a total value of over 5 Billion USD and a massive complex with more than two thousand rooms and a huge casino floor with over a thousand slot machines and hundreds of tables, Marina Bay Sands is one of the largest and most valuable casino properties in the world.

The Marina Bay Sands resort also features two Crystal Pavilions, a massive infinity swimming pool, and many signature attractions including the Sands SkyPark, The Shoppes at Marina Bay Sands, The Sands Expo and Convention, Bay Flora, Marina Bay Club, Marina Bay Sands Art Path, Art Science Museum, and Wonder Full among others.

Federal Investigation and Money Laundering Facilitation

Details about the federal investigation emerged via a report released by the Bloomberg news outlet. The report was released after a former compliance chef for Marina Bay Sands was requested by a grand jury to hand over all documentation related to possible money laundering facilitation and possible breaching of money-laundering protocols and financial controls.

The iconic Marina Bay Sands facility has held over fifty percent of the entire VIP casino gaming market in the country since 2018. Last year, the venue has enjoyed an even bigger fifty-seven percent share. Nonetheless, its VIP gaming business is at great risk following the federal investigation into possible breaches of its money-laundering protocols and practices.

Samuel Yin Shao Yang working for Maybank Investment Bank Berhad told several local news outlets that the venue’s VIP business has already been significantly damaged ten years ago after a similar investigation was conducted by officials in the USA. This investigation in particular was launched after Sands China Limited’s former Chief Executive Officer Steven Jacobs a lawsuit against the company. At the time, the property’s high-roller share of the high-roller market in Singapore went down to around thirty-three percent.

As reported recently by several local news outlets, one of the most renowned Macau-based casino operators, the MGM China Holdings Limited company has announced some of its future plans following the recent mandatory shutdown of its casino venues due to the ongoing coronavirus pandemic. As reported, MGM China Holdings Limited has been granted a brand-new credit facility which the company will use to help its business operations survive the negative financial impact of the coronavirus pandemic-related shutdown.

According to reports released by GGRAsia and Inside Asian Gaming, MGM China Holdings Limited used one of his latest official press releases to share more details about its new credit facility. As revealed, the credit provision which the company has agreed with its lenders is worth over $301 million. Nonetheless, this value may go over $503 million under specific conditions if necessary, to help the company stay afloat and to help its business survive.

Details About MGM China Holdings Limited

The MGM China Holdings Limited firm is one of the most prominent hospitality companies in Asia. In fact, the company is one of the leading operators, owners, and developers of lodging and gaming resorts in China. Moreover, MGM China Holdings Limited is also the holding firm of MGM Grand Paradise which is one of the six operators that has been granted the necessary rights to own and operate casino gambling venues in the Asian capital city of gambling, Macau.

When it comes to the MGM Grand Paradise firm, it owns and manages one of the most iconic casino facilities in Macau, MGM Macau. The venue is the award-winning fully integrated casino gaming resort situated on the Macau Peninsula. The company also owns and operates MGM Cotai that is a fully integrated, luxury resort located in Cotai which opened its doors back in 2018.

The company’s MGM Macau offers around six hundred hotel rooms alongside many other luxury amenities including five-star hotel suits, the MGM Art Space as well as, conference and meeting areas, fine dining restaurants, and one of the biggest casino floors in Macau. MGM Cotai is no less impressive packed with one thousand and four hundred luxury hotel suites and rooms, a high-end spa, meeting space, food and beverage outlets, and much more for the ultimate gaming and entertainment experience.

Disappointing First-Quarter Revenues

Due to the ongoing coronavirus pandemic and related negative and even devastating financial impacts, the MGM China Holdings Limited company saw aggregated gross net revenues for its MGM Cotai and MGM Macau venues drop by around 63% on a yearly basis to reach around $270.91 million in the first four months of 2020. At the same time, the company’s associated earnings before amortization, depreciation, taxes, and interest hit a massive deficit of around $12.9 million.

One of the major reasons behind such disappointing first-quarter net revenues related to travel restrictions which were put in place by the government of Macau following mandatory casino lockdowns issued back in March. Travel restrictions alongside mandatory lockdowns have caused MGM Cotai and MGM Macau’s occupancy rate to drop to around 36%. Consequently, the company in charge burned around $1.5 million every single day.

Majority owned by the MGM Resorts International company which is an American casino operator, the MGM China Holdings Limited company also shared that it will probably access its new credit facility provision as soon as it provides the necessary evidence that all of its $1.25 billion senior credit facility has been exhausted. According to the company’s officials, its latest cash provision is also subject to fluctuating annual interest rates as grounded on the HIBOR or the Hong Kong Interbank Offered Rate alongside a 2.75% margin according to the company’s leverage ratio.

As reported several days ago, one of the local Macau-based casino operators the SJM Holdings Limited company has announced that it is moving around one thousand employees from its flagship venue Casino Grand Lisboa so that they work on the company’s another iconic property Grand Lisboa Palace which will open its doors soon.

According to one report released by Inside Asian Gaming, this company which was founded by Stanley Ho fifty-eight years go made the revelation about moving some of its workforces from Casino Grand Lisboa as part of its official filling. This filling also concerned the company’s financial results for the previous four months of 2020 alongside details about the company’s coming venue which is almost completed. As revealed, the Grand Lisboa Palace venue will start welcoming its very first guests in the second half of 2020.

Details About SJM Holdings Limited

As mentioned at the beginning, SJM Holdings Limited Company was founded back in 1962. Since its inception, the company was involved in the casino and gambling industry. Historically, SJM Holdings Limited has also held a monopoly on the gambling industry in Macau as the sole licensee for gambling-friendly venues in the former Portuguese enclave. Back in 2020, the government of this Chinese area started issuing more casino licenses and the company’s monopoly over the industry was broken.

However, of the forty-three operating casinos in the former Portuguese enclave, SJM Holdings Limited operates and owns twenty-two of them. These venues operated and owned by the company are spread across the region while its latest luxurious venue packed with some two thousand rooms will open its doors soon after six years of construction and other work.

The company’s most iconic venue is surely its Grand Lisboa facility that opened back in February of 2007. The venue’s casino floor is packed with around one thousand slot machines and around eight hundred gaming tables. The hotel area is packed with four hundred and thirty suites and rooms. It is worth mentioning that the venue’s casino floor was the very first in the area to offer Texas Hold’em poker games as well as the very first to offer Craps.

Grand Lisboa Palace to Opening Its Doors Soon

When it comes to the company’s latest project which started in February of 2014, the Grand Lisboa Palace venue will compete with several luxurious properties located nearby including the Studio City Macau venue worth $3.2 billion which is owned and operated by the Melco Resorts and Entertainment Limited company.

The company responsible for Grand Lisboa Palace explained that its $5 billion-worth property will feature an exclusive trio of hotels that are branded under the Palazzo Versace, Grand Lisboa Palace, and Karl Lagerfeld names. The venue will also feature several conference facilities as well as a massive 290,000 square feet casino floor alongside a number of restaurants and shops.

Reported by Inside Asian Gaming, the SJM Holdings Limited company used one of its latest financial updates to share more details about relocating some of its workers to work on its Grand Lisboa Palace venue. In this particular updated report, the company’s official explained that this move will reduce the company’s costs at the thirteen-year-old Grand Lisboa venue. The same report also explains that the company has already invested around $4.2 on its new Cotai Strip developmental project while the remained will be spent once the venue opens its doors officially.

As revealed several days ago by the government responsible for Nagasaki Prefecture in Japan, the prefecture’s officials are still intent on launching the RFP or request for the proposal stage of its already devised plan which revolves around securing one of coming Japanese trio of fully integrated casino resort licenses. This came to many as a surprise considering the ravaging coronavirus crisis which was especially prominent in Asia in the past two months.

According to recent reports by Inside Asian Gaming and GGRAsia, this revelation by the government for Nagasaki Prefecture means that this Japanese jurisdiction of over 1.3 million residents has not made any alterations or changes to its original plan and schedule despite the ongoing coronavirus pandemic. The nation’s plan to launch the request for proposal stage for its fully integrated casino resort plan licensing has not been affected by a Prime Minister’s decision to place all seven affected Japanese communities into emergency lockdowns for at least one month.

The Month-Long Lockdowns of Seven Communities

Even though Nagasaki Prefecture and its 1.3 million residents have not been included in those emergency lockdowns of seven Japanese communities affected by the coronavirus crisis, the decision made it significantly more difficult for Nagasaki Prefecture’s officials to travel across the country and to hold business meetings with operating partners and other interested clients. On the other hand, several big Japanese cities were included in the nation’s coronavirus-related emergency lockdowns and these include Hyogo, Kanagawa, Fukuoka, Saitama, Osaka, Chiba, and Tokyo.

As reported by GGRAsia, Nagasaki Prefecture is hoping to be given all necessary official permissions and licenses to construct and operate a Las Vegas-style gambling-friendly resort. According to the prefecture’s already devised plans, this fully integrated casino resort is planned for a seventy-acre parcel which is located near Huis Ten Bosch theme park near the city of Sasebo.

Nagasaki Prefecture launched its RFC or initial request for the concept of its fully integrated casino resort plan back in September. At the moment, the officials for Nagasaki Prefecture anticipate finally moving onto the following, a more formal request for proposal or RFP stage in the following months before the summer starts.

Nagasaki Prefecture Releasing an Updated Basic Concept Plan

As Nagasaki Prefecture’s officials wait for the next steps and as they prepare, they have released an updated variant of its fully integrated casino resort basic concept plan. The updated version of the plan was released a couple of days ago and this version more clearly lays out what the prefecture expects from interested foreign casino operators which are interested in constructing and potentially running the proposed fully integrated casino resort for Nagasaki Prefecture.

This revised basic concept plan features seventy-three pages and it pronounces that such a gambling-friendly development could bring a massive economic ripple effect for the whole community worth around $3.85 billion. The seventy-three-page document also pronounces that such a gambling facility could lead to great new working opportunities and full-time jobs for over 360,000 local residents.

Furthermore, the revised document also reveals that the planned fully integrated casino resort for Nagasaki Prefecture could open its doors to the public in 2025 and in the meantime provide around 840,000 temporary construction jobs. The updated version of the basic concept plan for the planned gambling-friendly venue also reveals that the entire project would cost around $3.2 and $4.2 billion with yearly customer numbers reaching 9.3 million.

The second-largest city in Japan according to its population, Yokohama is fully set to host a grandeur event that will take place later this week. This event has been carefully designed to give all interested parties all of the necessary information which they could need to help the city secure one of a trio of Japanese coming fully integrated casino resort licenses.

According to one report released by Inside Asian Gaming, this is the very first Japan IR Expo and it is scheduled to kick off in just several days from the luxurious, 287,960 square feet Pacifico Yokohama center. As reported, the event will feature a massive assortment of seminars and exhibitions available to everyone who is looking forward to entering the growing Japanese casino gaming and entertainment market.

The Two-Day Extravaganza by the Integrated Resort Yokohama Promotion Council

As reported by the Inside Asian Gaming news outlet, the two-day event is organized by the nation’s Integrated Resort Yokohama Promotion Council alongside a local trade who specialist, the Innovent Incorporated company. The event’s organizers expect to welcome around 10,000 guests that will be offered an impressive catalog of product display and networking opportunities.

Commenting on the news, Innovent Incorporated officials shared their thoughts in one of the company’s official statements. The statement reads that the impressive immersion of the nation’s fully integrated resort market is becoming a reality which leads to a significantly higher demand for different trade fairs in the entire nation’s business community. The company’s officials also said that they will be holding this expo in Yokohama with all of the services and products included which are essential to achieving a luxurious integrated resort and additional accommodations under one roof.

Representatives of Numerous Casino Operators Due to Attend the Event

It was also reported that representatives from many international casino operators including the biggest brands such as Wynn Resorts Limited, Genting Malaysia Berhad and Las Vegas Sands Corporation are also due to attend the Yokohama IR Expo event alongside several local technology brands such as Mitsubishi Electric Corporation, Fujitsu Limited, and Panasonic Corporation.

Even though the majority of gambling activities are illegal in the country, the collation of Shinzo Abe as the government Prime Minister will see this nation of around 126 million citizens become home to a trio of Las Vegas-styled fully integrated casino resorts. This legislation was passed back in July of 2018 and it allows a trio of fully integrated casino resorts to feature hotels, comprehensive gaming floors as well as several exhibition facilities.

This process is expected to be completed by the end of 2020 and the city of Yokohama is hoping to be selected and win the right to construct and operate such a venue which is planned for a one hundred and sixty-acre parcel of land located very near to Yamashita Park.

Nonetheless, the city of Yokohama which is the most populous Japan municipality is facing serious competition from several other communities which are also interested in bringing fully integrated casino resorts into their communities including Sasebo and Osaka. As reported, Sasebo and Osaka are also looking forward to the upcoming Yokohama IR Expo as the communities’ officials want to provide some additional insights into their plans and potentially engender bigger international and local backing to boost their efforts.

The city of Osaka has recently reacted to serious bribery allegations which involve a China-based 500.com lottery company. As reported Osaka is passing a new set of protocols that will cover all interactions happening between representatives of interested gaming operators and local officials.

According to reports by Inside Asian Gaming and several other local news outlets, these new guidelines or principles have been adopted by the Osaka Prefecture and they strictly forbid all government employees from meeting on their own with casino operators and gaming operators representatives without revealing the specific details of such meetings online.

Needless to say, these actions were driven by the ongoing bribery allegations which revolve around the 500.com lottery company and the Deputy Minister for the Ministry of Tourism, Transport, Infrastructure, and Land Tsukasa Akimoto. It was also revealed that several other Japanese officials are under suspicion.

Osaka Currently Sits in the Leader Position

It was also reported by Inside Asian Gaming that the city of Osaka currently sits in the leader position in the ongoing race which will secure a trio of Japanese casino resort licenses. The city of Osaka, as well as several other cities and prefectures in Japan, hope to be given such permissions so that they can bring envisioned, fully integrated casino resorts into their communities.

The city’s envisioned gambling venue is planned for a 121-acre plot of land located on Yumeshima Island. This project that including bringing a Las Vegas-style casino would also require the entire community of around twenty million citizens to choose an international casino partner. This contest, in particular, is now between three global brands including Galaxy Entertainment Group Limited, Genting Malaysia Berhad and MGM Resorts International.

Osaka Officials Prohibited from Holding Meetings with Casino Operator Representatives

Nonetheless, due to those ongoing bribery allegations, officials for the city of Osaka as well as its surrounding prefecture are currently prohibited from having meetings with casino operator representatives from the three companies as well as from other similar firms without firstly posting the purpose and date of the meeting on the nation’s government website.

The city’s jurisdictions explained that this new collection of principles or rules have been adopted in order to make sure that the entire selection process is conducted fairly at all times. It was also explained that the new set of principles does not cover short interfaces between casino operator representatives and local officials such as brief interactions and greetings.

As reported by all major local and foreign news outlets, the 500.com company located in Shenzhen was thrown into the public spotlight in December after a prominent Japanese politician Tsukasa Akimoto was arrested. The legislator was indicted on charges that he accepted around $65,370 from the Chinese company so that he smooths the company’s path towards being granted a license to construct and operate envisioned casino resort in either Okinawa or Hokkaido.

Commenting on the news about the new set of principles regarding meetings between local officials and representatives of casino operators, the city’s mayor Ichiro Matsui said that the major proponent of the new principles is to aid the city. Meanwhile, the prefecture’s Governor Hirofumi Yoshimura shared similar statements adding that the ongoing bribery allegations and scandal concerning Tsukasa Akimoto is not the fault of massive efforts to bring casino resorts to Japan, but it was caused by local politicians’ greed.

As reported by several big news outlets, Cambodian authorities have announced that the nation’s estate of prominent land-based casino gaming facilities has been abiding by the latest legislation which after being implemented brought a total ban or prohibition on the online gambling provision. According to several reports by Inside Asian Gaming, the country’s Prime Minister Mr. Sen alongside the administration ratified this measure back in August last year.

This measure was implemented shortly and it saw the country of over fifteen million people cease renewing as well as issuing online gambling licenses. This legislation in particular also intended to satisfy protests from Chinese officials regarding public security and crime by prohibiting online casino venues and similar facilities from offering casino gaming services online after a deadline which was set for the 1^st of January.

Gambling in Cambodia             

When it comes to gambling in the country, it is officially illegal under its Law on Suppression of Gambling from 1996 that outlawed all sorts of unauthorized gambling as well as provided a variety of penalties that range includes monetary fines and even prison sentences. However, the country’s General Department of Prisons and its government do not list unauthorized gambling as one of the twenty-eight offenses which are currently punishable by prison sentencing.

The prohibition on such activities in the country also extends to all kinds of online casino gambling and it only applies to the country’s citizens. As estimated in October of 2015, Cambodia is home to seventy-five casinos which today cater to foreign customers. These venues as estimated provided around $29 million in revenues in the nine months of 2015 which go to the country’s government.

Citizens of the country are allowed to participate in gambling activities only through government-sponsored casino gaming which is offered at five national lotteries. The citizens were permitted to play slot machines situated in the Cambodian casinos, while today slot machines are completely banned in the country due to complaints of problem gambling and gambling debts.

One Hundred and Eighteen Fully Licensed Land-Based Casinos

As reported by Inside Asian Gaming, the Cambodian Finance Ministry’s Deputy Director-General Ros Phearun recently revealed that the latest inception on the industry had determined that around ninety-one local online casino operators had shut down their virtual doors permanently since the beginning of the year. He also revealed that the nation now has one hundred and eighteen active land-based casinos.

Furthermore, the official also explained that the government will continue to monitor all land-based casinos in the country to make sure that these facilities do not restart their online operations sometime in the future once the media focus vanishes. Before the implementation of the latest online casino gambling ban, the country had hosted one hundred and forty-one land-based gambling venues.

Around seventy of these were situated in Sihanoukville Province. It was also revealed by one of the provincial officials, Yov Khemara that around twenty-two land-based casino venues were now shut down while a further of thirty-three had just suspended their operations temporarily. Commenting on the news, Ros Phearun said that all sorts of arcade gambling operations in the country ceased after the implemented ban. He also added that several casinos that ceased their online gambling operations decided to remain operating for one or two months just to see if they can make profits while Phearun’s opinion is that more casinos will shut down their doors in the time to come.