Suntrust Resort Holdings Inc. completed a US$56 million cash subscription for 400 million common shares—equivalent to a 40% ownership—in Westside Bayshore Holding Corp. (WBHC). The move is part of a broader strategic alliance with Travellers International Hotel Group Inc., Westside City Inc., and Entertainment City Resorts Corp., aimed at expediting the completion of the “now-expanded” Westside integrated resort at Entertainment City in Parañaque, Metro Manila.
In the first seven months of 2025, the Philippines' licensed online gaming sector generated ₱69 billion in license fees, with ₱41 billion from electronic games (e‑games) and ₱28 billion from offerings like e‑bingo and bingo grantees. According to PAGCOR Chairman and CEO Alejandro Tengco, these revenues have become crucial for funding social initiatives such as education, healthcare, and community development, underscoring the sector’s status as a leading “nation‑building” revenue source.
Grand Korea Leisure (GKL) reported a 15% year-on-year decline in casino sales for August 2025, with revenue falling to KRW 35.08 billion (approximately US $25.4 million). This pullback signals a softer-than-expected summer season and may reflect shifting travel patterns or increased regional competition.
Macau Legend has suffered a severe financial setback, posting a net loss of HK$1.42 billion (US$182 million) in the first half of 2025—nearly twelve times higher than the same period last year. The sharp decline was driven primarily by a HK$1.29 billion impairment linked to the impending closure of its Legend Palace satellite casino, a result of Macau’s continuing regulatory overhaul of the satellite casino sector.
iGP, a full-service iGaming technology and solutions provider, has unveiled its new product: iGaming Lottery, a digital secondary lottery and raffle platform aimed at bolstering operator growth and diversification. The platform offers over 70 global draw-based games—such as Powerball, Mega Millions, EuroMillions, SuperEnalotto, and the UK National Lottery—without requiring players to purchase official tickets. Supporting both fiat and cryptocurrency, it features fully insured payouts up to €100 million, along with raffles, instant wins, seasonal events, and branded custom draws.
Author: Janice Chew • Friday, 05/09/2025
