Jimei Intl further delays deal with Macau Junkett

The target date for Jimmy International Entertainment Group Ltd to sign an agreement to participate in the VIP game promotion business in Macau has been postponed by another six months.

A so-called Variable Interest Group (VIE) contract with Carlos Jose Rock, Macao resident and sole shareholder and sole director of the Macau game promoter New International Club Ltd, is due to be finalized by the end of 2016, Hong Kong-listed company Jimmy Entertainment said in a file on Tuesday.

Jimei International Entertainment is a Hong Kong-listed portion of the business profits of veteran Macau junket investor Jack Lam In Lok.

The Macau Corporation's New International Club is one of the licensed VIP game promoters in Macau, according to published information from the Macau Bureau of Game Inspection and Coordination, also known as DICJ.

A document submitted by Jimmy International Entertainment on Tuesday marks the fifth extension of the deadline for a VIE agreement with the New International Club.

According to the Jimi Group's website, Lam is already involved in junk operations at three Macau casino hotels, including Win Macau, Grand Lisboa and City of Dreams, through a private company called the Jimi Group. The group also operates Jimei Casino next to the Grand Rafa Hotel on the Macau Peninsula under the SJM Holdings game license.

Jimei International has strengthened its presence in Australia by signing a junket deal with Australian-listed The Star Entertainment Group Ltd to promote "at least" six game tables within The Star Casino in Sydney, according to a 2015 annual report by Junket investors.

In February 2015, jimei international signed a similar deal with star entertainment's Australian market rival, Crown Resorts Ltd, to promote about 8-10 gaming tables at the Crown Pers casino in Western Australia.

In May 2015, jimei international entered into a partnership with nagaCorp Ltd to promote more than seven game tables within naga world casino, located in the Cambodian capital phnom Penh. 안전 슬롯사이트

CLSA Forecasts Turning Point For Philippine Gaming Sector

Philippine casino gross gaming revenue (GGR) continues to grow in the three months to March 31, up 7% year over year, brokerage CLSA Ltd said.

"March's GGR (1% year-over-year, -6% quarter-over-quarter) held up well despite Easter lull hampering year-over-year comparisons," Marcus Liu, an analyst, said in a note this week. Easter, a time when punters traditionally avoid the game table, was down in March this year compared with April 2015.

"Despite the adverse seasonality, 2016's GGR was still 7% year-over-year, achieving an annual target of 8% growth," Rui said, adding, "We expect April's GGR to increase by about 40% year-over-year as a result of early Easter results."

Accumulated casino GGR, which includes venues managed by the state-run Philippine Amuse and Gaming Corporation (Pagcor) and those run by private sector operators, reached 130 billion PHP ($2.77 billion) in 2015, up 17% from 2014, Pagcor's president, Kristino Naguiat, said in January.

CLSA said City of Dreams Manila casino resort operator Melco Crown (Philippines) Resorts Corporation expects to report the strongest first quarter earnings among major casino operators in the Philippines.

The City of Dreams Manila Project has three private sector competitors that meet international standards in the Manila market. Resort World Manila, which opened in August 2009 and is managed by Travelers International Hotels Group, Solaire Resort and Casino, developed and operated by Bloomberry Resort, which opened in March 2013, and Manila Bay Resort, operated by Universal Entertainment, which is scheduled to open by the end of 2016.

"Melco Crown Philippines will have the strongest results since the opening of City of Dreams Manila," said Ryu of CLSA.

The brokerage said it expects the casino operator to report sequentially interest, tax, depreciation and amortization (EBITDA) full-property revenue of $26 million, up 56% quarter-on-quarter, on the back of 22% GGR growth.

Bloomberg Resorts also likely to see a rise in first-quarter earnings. "Because bad loans have been resolved in Solaire, provisioning will be much lower in 2016 and we will get much better returns. In the first quarter of 2016, we expect 1.5 billion PHP of EBITDA," a CLSA analyst said. 슬롯사이트

Enrique Razon, chairman of Bloomberg Resorts, said in a recent comment that the company's outlook is "much better this year" and that there are "no more bad accounts, no bad debts."

Bloomberg Resorts reported a net loss of 3.36 billion PHP in 2015 on April 15. Provisions for suspicious accounts nearly tripled to 2.57 billion PHPs last year, compared with 679.66 million PHPs in 2014.

"Travelers International would have been the worst performer among Filipino game service providers in the first quarter of 2016, with GGR down 20% year-on-year, or -11% quarter-on-quarter," Liu said.

Resorts World Manila continues to lose market share to Entertainment City's casino resorts, CLSA added. However, the brokerage expects Travelers International's margin to hold better "as the Junket revenue sharing contract declines."

Junket promotional allowances weigh on the 2015 numbers, Travelers International said in its annual results filed in March.

Hollywood Casino Columbus might

That’s after announcing this week a $100 million expansion of the property that will bring a 200-room hotel and new amenities to the destination.

Hollywood Columbus opened in 2012, about four years after Ohio voters authorized casino gambling through a state constitutional referendum. The gaming ballot measure allowed land-based casinos with slots and table games in the state’s four largest cities: Cleveland, Cincinnati, Columbus, and Toledo.

Penn Entertainment, at the time Penn National Gaming, was one of the gaming operators that gained licensure to run a brick-and-mortar casino in the Buckeye State. Penn opened Hollywood Casino Columbus on Oct. 8, 2012.

The casino is owned by Gaming and Leisure Properties, Inc., which is Penn Entertainment’s publicly traded real estate investment trust. Penn Entertainment leases Hollywood Columbus’ casino operations from GLPI.

$100M Expansion
Penn Entertainment and GLPI have floated the idea of adding a hotel to Hollywood Casino Columbus for many years. But the companies only this week reached a contract with the Columbus Building and Construction Trades Council, which provides coordination, representation, and support to the work of the council’s 19 affiliated unions in the Columbus region.

GLPI will bankroll the majority of the $100 million project that will result in a 150,000-square-foot hotel spread across seven floors. The hotel will be built adjacent to the current casino and provide overnight guests with easy access to their rooms.

The hotel will additionally feature food and beverage options, conference space for small meetings and events, a fitness center, and an outdoor terrace.

We are thrilled to introduce new amenities and a fabulous place for our players to stay. This will enable us to offer a full conference and banquet package, attracting both existing clients and new businesses to central Ohio and the [Columbus] West Side with our conference and meeting space abilities,” said Rick Skinner, vice president and general manager of Hollywood Casino Columbus.

Construction is slated to begin this fall. Casino reps didn’t specify a time line for completion.

Integrated Resorts
Once complete, Hollywood Casino Columbus will be billed as the first integrated resort casino in Ohio.

The state’s three other full-scale casinos, Hard Rock Casino Cincinnati, Jack Cleveland Casino, and Hollywood Casino Toledo, don’t currently offer on-site hotels. They have instead partnered with nearby hotels to provide their guests and rewards members with accommodations.

Hollywood Columbus is the largest gaming floor of the four brick-and-mortar casinos. The casino offers more than 1,900 slots, 65 live dealer table games, and a 34-table poker room. 슬롯사이트

The property began taking in-person sports bets in January through self-service kiosks, and added a 13,000-square-foot Barstool Sportsbook in January. Jan. 1, 2023, marked the launch of retail and online sports betting in Ohio. Through May, oddsmakers statewide have won more than $507 million off bettors.