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MGM Resorts International Looking to Open New Venues in The Asian Market

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MGM Resorts International is an American hospitality and entertainment corporation that operates resorts in Las Vegas, New Jersey, Maryland, Massachusetts, and Mississippi. Their resorts include The MGM Grand, Bellagio, Park MGM, and Mandalay Bay.

MGM Resorts’ History

The history of the corporation can be traced back to 1969, when airline and casino magnate Kirk Kerkorian purchased a majority share in the Metro-Goldwyn-Mayer (MGM) picture studio. This event is considered to be the beginning of the company.

Grand Name Company, the precursor to what is now known as MGM Resorts International, was established in 1986 by Kirk Kerkorian as a wholly owned subsidiary of Tracinda Corporation. It was rebranded as MGM Grand, Inc. in 1987. After purchasing Mirage Resorts in the year 2000, the corporation changed its name to MGM Mirage.

Despite the fact that the majority of the company’s resorts are already in operation in the United States, the corporation has expressed a strong desire to expand into Asia, with China, Japan, and Singapore being its primary areas of focus.

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MGM Resorts in Singapore

The establishment of a venue in Malaysia might be considered a significant milestone for MGM Resorts International. It has been confirmed by Bloomberg that the firm has already spoken with the Malaysian Lim family about the possibility of either taking over their Genting Singapore business or investing in the company. A consensus has not yet been not reached, but it seems probable that MGM will continue its pursuit of the firm in the future.

Singapore’s city state has just two casino operators, Genting being one of them. Sentosa, an island off Singapore’s southern coast, is home to the Resorts World Sentosa complex. According to a recent review by www.casinosnavi.com, the resort has more than 550 gaming tables and 2,400 slot machines, and other electronic games. Theme parks, aquariums, water parks, restaurants, and shopping round out the list of things to do at Universal Studios Singapore.

In addition, Genting Singapore was one of the few businesses owned by the Genting group that remained profitable throughout most of the COVID-19 pandemic. In the first quarter of 2022, Genting Singapore reported a 13 percent year-on-year increase in revenues to $225 million and a 17 percent increase in net profit to $29 million.

It’s clear that a potential MGM takeover of the Genting Singapore presence would further strengthen the US casino giant in the Asian market. Not only that they would take over a profitable business with lots of potential for expansion, but they will penetrate another market that’s not accessible to them at the moment. Should an agreement be reached, MGM will become a major player in the Asian market after adding Singapore to their portfolio.

MGM Resorts in Japan

MGM Resorts International also intends to construct a resort in Osaka, Japan, with a price tag of ten billion dollars. The city and prefecture of Osaka have decided to work with MGM, which has formed a partnership with the Japanese financial services giant ORIX. This will allow MGM to operate an integrated resort in the area.

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Since Las Vegas Sands Corp., Wynn Resorts Ltd., and other Asian gambling businesses withdrew from developments in Osaka, only the MGM-Orix joint venture submitted a bid to the region’s RFP process for establishing a casino.

This is MGM’s first foray into the Japanese casinos business, and they hope it will be just the beginning. In a statement, MGM Resorts CEO and President Bill Hornbuckle said that “We couldn’t be more excited for the opportunity to help enhance and grow Osaka’s reputation as a world-class destination and gateway for the world to the wonders and rich history of Japan.” 

MGM Resorts in China

MGM Macau and MGM Cotai are the two locations in China where the MGM brand is active. The MGM Macau was the first business that the corporation had in China, the second one being the MGM Cotai casino resort which officially opened its doors on February 13th, 2018.

1,390 rooms and suites make up the Cotai hotel. There is a 2,000-seat MGM Theater in the hotel as well. More than 2,000 different plant species are housed at Nature’s Art, the world’s biggest art garden. Among those species are many that had been thought to be extinct.

Moreover, the opening of MGM Shanghai looks to be part of MGM’s strategy to increase its presence in the country. A hotel management agreement with Shanghai West Bund Development has been signed by Diaoyutai MGM Hospitality, a 2007 joint venture between MGM Resorts International and Diaoyutai State Guesthouse. This agreement will see Diaoyutai MGM Hospitality open its first MGM-branded hotel in Shanghai.

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MGM Shanghai West Bund will include 161 guest rooms and 58 suites, as well as a range of food and beverage, entertainment, and other services, according to information supplied to the press. The hotel will provide a variety of Las Vegas-inspired entertainment activities, such as live performances by prominent artists and art exhibits, in an effort to attract wealthy tourists and residents alike.

Mr. Bill Hornbuckle, CEO and President of MGM Resorts, stated, “We’re honored that the MGM brand and our China joint venture, Diaoyutai MGM Hospitality, were selected by West Bund Group to operate this premium property in such an iconic zone.”

Final Thoughts

Already with a strong presence in the major Asian markets, MGM could strengthen its presence through a potential takeover in Singapore. Even though an agreement is far from being reached, the initial talks bring a lot of promise for the region.

It’s certainly an interesting development for the resort industry in Asia and only time will tell if the negotiations will come to a positive result. In the meantime, tourists can rest assured that the resort era is far from coming to an end.

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PAGCOR WARNS PUBLIC AGAINST US-BASED ILLEGAL GAMING WEBSITE

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The Philippine Amusement and Gaming Corporation (PAGCOR) reiterates its call to the public – both local and foreign nationals – to be extra vigilant when engaging in online gaming activities as illegal online gaming sites continue to proliferate.

The renewed call from the country’s gaming regulator came on the heels of news reports that a certain website — www.starspangled200.org – which was printed on close to 800,000 registered vehicle plates in Maryland, USA to promote the state’s history, was used by fraudsters as a link to an illegal gambling website allegedly operating in the Philippines.

According to PAGCOR Chairman and CEO Alejandro Tengco, the URL www.starspangled200.org printed on these Maryland plates which redirects to https://www.globeinternational.info/  has been used as an illegal gambling platform that not only violates players’ rights but also places the Philippines in a bad light.

“PAGCOR has nothing to do with the said websites, as well as the gaming activities happening therein. As the country’s gaming regulator, PAGCOR does not condone illegal online gambling. Engaging or betting on illegal gambling activities is not only a criminal act; it also takes away from the government billions of pesos in revenues which can be used to fund priority programs that will benefit a greater number of Filipinos. Hence, we have been continuously working with various government and law enforcement agencies to ensure that our gaming policies are in place and the online gaming platforms that we regulate are safe and credible,” he said.

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“We have referred this matter to our Security and Monitoring Cluster for investigation. The website was also referred to the appropriate government agency for immediate action.” Tengco added.

Tengco strongly calls for gaming aficionados to only take part in its licensed online-based gaming platforms for a truly enjoyable and safe gaming experience.

The list of registered and legitimate websites can be found through this link: https://www.pagcor.ph/regulatory/index.php.

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UltraPlay Expands Reach in Latin American and Southeast Asian Markets with Solisbet and Betador Deals

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UltraPlay Expands Reach in Latin American and Southeast Asian Markets with Solisbet and Betador Deals

 

UltraPlay, a leading iGaming software provider and part of ODDS Group, recently announced two new partnerships with Solisbet and Betador. The move is set to strengthen their position in the Latin American and Southeast Asian markets, demonstrating their commitment to expanding their global reach.

Mario Ovcharov, CEO of UltraPlay, expressed his excitement about the partnership, saying, “The deal extends the company’s reach to new markets by onboarding new partners that will benefit from [our] bespoke and industry-proven white label solution.”

In addition to the two new partnerships, UltraPlay has also signed agreements with two new clients, launching their sports and eSports iFrame service with Global Odds and 8Storm. This will enable UltraPlay to expand its offerings and provide a more diverse range of products to its customers.

Moreover, UltraPlay has also introduced two new providers, Felix Gaming and Turbo Games, to its already extensive portfolio of games. Operators will now have access to popular games such as Crash X, Dice Twice, RollZone, and It’s a Joker, among many others.

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“We’re always very happy to welcome new partners as they help us improve and expand our products and services. UltraPlay is continuously growing,” Ovcharov concluded. With these new partnerships and product offerings, UltraPlay is well-positioned to continue to expand its market share in the iGaming industry, providing exceptional services to its clients across the globe.

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Newly-Built PAGCOR-Funded Evacuation Facilities in Cagayan Province Inaugurated

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Three municipalities in the province of Cagayan became the latest beneficiaries of the Philippine Amusement and Gaming Corporation’s (PAGCOR) Multi-Purpose Evacuation Center (MPEC) project after the state-run gaming agency inaugurated the newly-constructed facilities on March 10 and 11, 2023.

The PAGCOR-funded basketball-court type multi-purpose facilities worth P12.7 million each were formally unveiled in the towns of Amulong, Solana and Penablanca.

In the municipality of Solana, the evacuation facility built in the flood-prone barangay Malalam-Malacabibi was already used as a temporary shelter last October after the gates of Magat Dam were opened to release water following the onslaught of Tropical Storm Paeng.

According to Solana Municipal Mayor Jennalyn Carag, despite being partially completed, the PAGCOR-funded evacuation facility already provided safe refuge to 80 families from low-lying communities in their town.

“When Tropical Storm Paeng hit us, the water level in Magat Dam rose. There are barangays in our town that have been isolated, such as barangay Dasun, Bauan and Malalam-Malacabibi. Even when this evacuation center was just being built, it has already given us a lot of help,” said Carag.

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In the town of Penablanca, PAGCOR’s evacuation facility was built in the remote barangay of Minanga, which is almost two hours away from the town center and has no access to telecommunication. The community’s mountainous location and partly unpaved roads make it challenging for the local government to deliver swift aid to locals whenever they are affected by natural disasters.

“In recent years, we have been tested by various calamities like that only widespread flooding here in the province of Cagayan in 2020,” Penablanca Mayor Washington Taguinod said. “This was followed by another widespread flooding in 2021 and, in 2022, we felt the strength of the earthquake that hit the Ilocos region. The establishment of this PAGCOR evacuation center in Minanga barangay became our priority because of its distance from the population. This is a non-telco area, which means it is difficult for residents to seek immediate help when a disaster occurs.”

With the completion of the PAGCOR-funded evacuation center in the far-flung barangay Minanga, Taguinod said that the locals, including the indigenous peoples living at the foot of Sierra Madre, will be assured of a safe shelter as well as a venue where the local government can download relief goods and other basic government services in times of disasters.

Meanwhile, Amulong Municipal Mayor Elpidio Rendon also expressed his gratitude to PAGCOR for giving the vulnerable sectors of their community a secure evacuation shelter during calamities.

“In Amulong, we have identified typhoons, landslides, drought and flood as major hazards. The flood alone affects 17 of the 47 barangays. This situation pushes us to raise the adaptive capabilities of our communities that are exposed to flooding. This evacuation center will be of great help to the vulnerable members of our community, such as the elderly, children and pregnant women, especially during the onslaught of natural disasters,” said Rendon.

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PAGCOR’s Vice-President for Corporate Social Responsibility Group, Ramon Stephen Villaflor, who graced the inauguration of the evacuation facilities in Cagayan, explained that instead of constructing a two-story building, the state-run gaming firm provided funding for four basketball-court type multi-purpose facilities in towns that are most vulnerable to flooding.

Besides Amulong, Solana and Penablanca, the town of Iguig also received a basketball-court type evacuation facility. Final inspection of the project in Iguig was already conducted.

Meanwhile, apart from the province of Cagayan, PAGCOR also recently inaugurated two-story multi-purpose evacuation centers worth P50 million each in the towns of Floridablanca and Candaba in Pampanga. Over 200,000 residents from said municipalities stand to benefit from the modern and spacious buildings. To date, a total of 24 MPECs have been completely built and inaugurated nationwide while 53 are still undergoing construction.

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