In a decisive move, the Hong Kong Stock Exchange (HKEX) will formally delist LET Group Holdings Ltd and its subsidiary Summit Ascent Holdings Ltd, operator of Russia’s Tigre de Cristal casino resort. The delisting will take effect on September 1, 2025, with the last day of trading set for August 29.
India’s Finance Ministry is pushing forward a sweeping reform of the Goods and Services Tax (GST) system. Designed to simplify the current five-tier framework into just two main slabs—5% (for essentials) and 18% (for most goods)—the plan also proposes adding a punitive 40% tax slab for “sin and luxury” items, including tobacco, alcohol, luxury cars, and gambling.
Hong Kong-listed Success Universe Group Ltd has rolled out a substantial financial support package for Ponte 16, the integrated casino-resort in Macau operated by its associate Pier 16 – Property Development Ltd. Under a newly amended and restated facility agreement, the company is backing the operation with up to HKD 839 million (US $106.9 million) in combined financial assistance.
The recent Senate hearing in the Philippines has seen a unified show of support from licensed online gambling operators. Their message was clear: the real threat isn’t regulated entities, but rather the unchecked spread of illegal, unlicensed platforms.
In a decisive move to strengthen its financial footing in the United States, Genting Malaysia has unveiled a strategic restructuring plan designed to eliminate the debt burden of its wholly owned subsidiary, Empire Resorts. The company intends to launch a sale-and-lease-back arrangement involving key non-gaming assets of Resorts World Catskills (RWC) and associated developments in upstate New York. The deal marks a pivotal shift in the company’s strategic priorities and regional positioning.
Author: Janice Chew • Wednesday, 20/08/2025
