Anutin Charnvirakul, Prime Minister of Thailand, has formally told Xi Jinping, President of China, that Thailand will not legalise casinos or use gambling as an economic stimulus tool. The assurance came during a bilateral meeting at the APEC Economic Leaders' Meeting, and signals a clear shift in Thailand’s policy on entertainment-resort development.
South Korea’s foreigner-only casino operator Paradise Co Ltd has revealed that its scheduled purchase of the 501-room West Tower of the Grand Hyatt Incheon hotel, adjacent to the integrated resort Paradise City, will be postponed from 31 October to 19 December. The building price remains set at KRW 210 billion (approx. US$151 million) for the tower alone, while the land remains owned by the Incheon International Airport Corporation.
Genting Malaysia’s U.S. expansion plans took a bold turn as its subsidiary Resorts World New York City (RWNYC) announced a commitment to contribute US$2.5 billion to the Metropolitan Transportation Authority (MTA) during its first four years of operation under a full commercial licence — a figure that exceeds the MTA’s prior budget of US$1.8 billion from all three downstate casino licences combined.
Australia’s Star Entertainment Group has reported signs of stabilisation in its September-quarter performance, though it remains loss-making. The group posted revenue of around A$284 million (US$186 million) for the three months to 30 September 2025 — up roughly 5 percent from the prior quarter but still 19 percent below the same period last year.
MGM has announced it has entered into a yen-denominated credit facility equivalent to US$300 million, provided by Sumitomo Mitsui Banking Corporation, to support its development of the integrated resort (IR) on Yumeshima Island in Osaka. The facility carries an interest rate of about 2.5%, matures in October 2030, and includes an option to expand to around US$450 million.
Author: Janice Chew • Sunday, 02/11/2025
