CR85-p78&79-Business 4&5:SJC-Casino Review 24/10/09 19:10 Page 1
internationalcasinoreview
AC revenues still sliding
Gaming revenues from Atlantic City’s 11 casinos fell in
Business
September by 5.8 per cent compared to a year
previously, the NJCCC has reported. GGR totalled
$335.4m (E227m). In August, gaming revenues had
fallen more than 16 per cent over the previous year, so
there is some improvement. Four casinos saw revenues
NEWS grow in September. The nine-month period has seen
revenues down by 14.2 per cent.
Indian casino development
Trebled
gets private equity boost
gaming
revenues
Along with China, India’s economy is
shorten
booming, even despite the global downturn.
Unlike China it does not have a highly Paradise
developed gaming industry with only one
small land-based casino in the whole country.
losses
With additional investment in the country’s
well-placed and somewhat larger second
heavenmustwait
casino, could this be the start of more? PARADISE ENTERTAINMENT
backingin no further details are avail- year, is scheduled to open term contract. The total invest- level of a state and is gov- Paradise
THUNDERBIRD RESORTS able on quid pro quo for the before the end of this year in ment is estimated to be in the erned directly from Delhi. Entertainment, the
cash injection, nor has further Daman, one of only three juris- region of Rs3.75bn (E55m). Daman, the larger of the two Macau-based casino
The company building a new comment been obtained dictions in which casinos are The casino will operate districts is adjacent to Maha- and gaming
Thunderbird Fiesta casino in from the company managing legal. It will be only the second with the area’s first licence rastra state, the capital of which operator - and
the Indian union territory of the PE investment, Paracor land-based casino to open in issued under the terms of the is Mumbai. It is a two-hour drive biopharmaceutical
Daman & Diu, Daman Hospi- Capital Advisors. India, following the opening of 1976 Gambling Act of Goa, from Mumbai, which with a manufacturer - has
tality Pvt Ltd (DHPL), has The casino resort, which one in the Royal Plaza Hotel in Daman & Diu. It will offer population of more than 19m reported an increase
received an investment of was announced in March last Gangtok in the union territory about 500 slot machines in people is the world’s fifth of 53 per cent in
Rs350m (E5.1m) from a private of Sikkim in the Himalayas addition to table games. largest city. Daman also borders revenues to
equity company, Madison India earlier this year. Former Portuguese Gujarat state, whose popula- HK$140.3m (E12.1m)
Real Estate Fund, local analysts The luxury resort will be colonies, the two districts tion has the highest average in the six months to
have reported. located in a 40,000sq m area that make up the union terri- GDP per capita in India. The the end of June,
Although the transaction that includes a five-star hotel tory, Daman and Diu, face district also has its own airport. helping it to shorten
has been confirmed by the with 200 rooms, an event each other across the wide The new casino will therefore its loss for the period
co-owner of the development centre, restaurants and bars, Gulf of Cambey on the Indian be within a five-hour drive for by almost 30 per cent
and 50 per cent owner of which will all be operated by Ocean. As a political unit, the 50m people and within a three- to HK$37.7m (E3.2m).
DHPL, Thunderbird Resorts, Thunderbird under a long- territory exists below the hour flight for 1bn people. The company is still
labouring under very
high operating costs,
which rose in the half
PokerTek
by 37 per cent to
HK$105.9 (E9.1m) or
Security in Casino
partner takes
more than three-
quarters of turnover.
Revenues from
on a share
casino operations
more than trebled in
the first half, rising
from HK$24.4m
(E2.1m) to HK$87.5m
(E7.6m) compared to
a year earlier.
However, the division
still reported a loss of
HK$12m (E1m), even
though that was
around half the loss
in H1/2008.
In its statement, the
company said: “The
first half of 2009 was
inthepot a period of progress
POKERTEK INC for our gaming
business. With the
Mega Fortris (M) Sdn Bhd is a
The manufacturer of electronic automated poker tables expansion of our
manufacturer and trader of a complete
PokerTek has acquired a major new investor, ICP Elec- Casino Kam Pek
range of security items ranging
tronics, a Taiwanese firm that supplies engineering and Paradise, the easing
design services for PokerPro product and manufactures up of the credit
from card vaults, to plastic seals and
the Heads Up Challenge game for the company. crunch and the
various tamper evident bags for all
ICP has made two separate investments into PokerTek, improvement of
applications in the casinos’ operation.
firstly in August, in which it bought 565,000 shares of market sentiment, we
We supply to most casinos in the world for sealing of playing cards, slot machines
common stock at $0.85 - a total of $480,250 (E325,000) - saw a significant
and also cash. Please contact us for a consultation and we will be glad to discuss
then again in October, in which it added another 120,000 growth in gaming
with you.
shares at $0.90 - or $108,000 (E73,000). ICP is now the revenues and
largest single investor in the company holding about 15 improvement in
per cent of the stock. operating margins for
“We are pleased to see ICP top off their stake in Pok- both the mass market
erTek,” said Mark Roberson acting CEO and CFO of the table and gaming
company. “We have worked closely with ICP for several operation and
years and they continue to be a valuable partner…These electronic terminals
two transactions serve to further solidify our relationship.” operation.”
In its half year results, which it reported a couple of The biopharm-
months ago, the company was battling against the down- aceutical side of
turn with product sales struggling to reach last year’s the business now
Mega Fortris (Malaysia) Sdn Bhd, 6-12, Jalan Angklung 33/20, Shah Alam Technology Park, levels. Revenues for the period were down 48 per cent to accounts for 37 per
Malaysia Tel: +603 5122 6118; Mobile: +6012 7388 918 Fax: +603 5121 7118
$3.6m (E2.4m), however, the company’s cost reduction cent of turnover
Email:
olivia.lee@megafortris.com www.megafortris.com
programme allowed it to shorten its net losses by 15 per compared to 73 per
cent to $3.4m (E2.3m). cent in 2008.
78 November 2009 • businessnews
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