Hong Kong-listed International Entertainment Corp (IEC) recorded a substantial loss of HK$282.1 million (roughly US$36.3 million) in fiscal year 2025, largely driven by cost pressures and a one-time write-off tied to the redevelopment of its New Coast Hotel in Manila. Despite that, the company saw total revenues rise steeply to HK$566.2 million (≈ US$72.8 million) — a year-on-year growth of about 146 % — as it assumed full operational control of casino operations from PAGCOR under its provisional license.
Vietnam’s Ministry of Finance is considering a major revision to its sports betting regulations. Under the current rules, bettors are restricted to VND 1 million (roughly US$38) per betting category (e.g. match winner, score, cards) on international football matches. The draft decree envisions replacing these multiple category limits with a single VND 10 million (≈ US$380) cap per person per day for all bets combined.
South Korea is bracing for a potential wave of Chinese tourists following Beijing’s decision to allow visa-free group travel to South Korea starting October 2025. The new policy comes amid efforts to revive outbound tourism and thaw relations that had been strained since the THAAD missile defense dispute in 2017. Industry watchers believe this could significantly boost visitor arrivals, particularly for casinos and duty-free businesses, which have long depended on Chinese spending.
The 33-hour shutdown of all Macau casinos during Super Typhoon Ragasa is expected to shave around 5% off September’s gross gaming revenue (GGR), according to analysts from CLSA and IGamiX. CLSA’s Jeffrey Kiang estimated the closure cost operators MOP880 million (US$109.9 million) in lost revenue, based on average daily GGR prior to the storm.
The Queensland Government has deferred suspending The Star Gold Coast’s casino license by 12 months, now set for review in September 2026. Acting on recommendations from Special Manager Nicholas Weeks, officials cited “steady progress” in the operator’s remediation plan, though warned that improvements have been slower than expected due to financial pressures. Acting Attorney-General Jarrod Bleijie stressed that while the government is giving Star more time, it retains the right to act immediately if obligations are not met.
Author: Janice Chew • Monday, 29/09/2025
