User blogs

Philippine conglomerate Alliance Global Group Inc says it has agreed to acquire the stake of now-defunct Genting Hong Kong Ltd in the operator of Newport World Resorts (pictured), a Philippine casino and leisure complex in the capital Manila.The property is owned and managed by Travellers International Hotel Group Inc. Prior to the deal now announced, Alliance Global already had a 60-percent stake in Travellers International, according to its latest quarterly report.Alliance Global said in a filing on Tuesday to the Philippine S... more

The casino licence for The Star Sydney property (pictured) will remain suspended, with its operator hit with a AUD15-million (US$10.1 million) fine for ongoing compliance problems and a fresh review within the first quarter next year. That is according to an announcement on Thursday by Philip Crawford, chief commissioner of the New South Wales Independent Casino Commission, a regulatory authority in that Australian state. He said a fresh assessment would be made by March 31. Mr Crawford was speaking at a media conference, as report... more

Australian casino operator The Star Entertainment Group Ltd says it is working with “various” financial advisers to review its financial and liquidity position, as well to finalise its annual results for the financial year ended June 30. The casino firm, which remains under scrutiny from regulators over corporate cultural and governance issues, said in a Wednesday filing that it is “holding discussions with various stakeholders in relation to its liquidity position in light of adverse trading and other conditions”. “The company con... more