Has the government of Laos found a buyer for the disputed Savan Vegas Hotel and Entertainment Complex?

In this episode of he said, she said—Savan Vegas edition—one of the shortlisted bidders for the casino announced last week that it received the Laotian government’s approval to operate the casino complex. In a press statement, Hong Kong-listed casino services firm Macau Legend Development said it has agreed to pay US$42 million for Savan Vegas as well as the right to a 50-year monopoly on casino operations in three provinces of Laos, including the area where the casino complex is located.

Macau Legend’s agreement with the government also include the possibility of the casino company converting the land next to Savan Vegas into another resort development featuring two golf courses, a 600-room hotel, villas, casino, exhibition hall and spa, pool facilities, staff quarters and training facilities.

Macau Legend was one of the six shortlisted companies for the acquisition of Savan Vegas complex.

Has the government of Laos found a buyer for the disputed Savan Vegas Hotel and Entertainment Complex?

In this episode of he said, she said—Savan Vegas edition—one of the shortlisted bidders for the casino announced last week that it received the Laotian government’s approval to operate the casino complex. In a press statement, Hong Kong-listed casino services firm Macau Legend Development said it has agreed to pay US$42 million for Savan Vegas as well as the right to a 50-year monopoly on casino operations in three provinces of Laos, including the area where the casino complex is located.

Macau Legend’s agreement with the government also include the possibility of the casino company converting the land next to Savan Vegas into another resort development featuring two golf courses, a 600-room hotel, villas, casino, exhibition hall and spa, pool facilities, staff quarters and training facilities.

Macau Legend was one of the six shortlisted companies for the acquisition of Savan Vegas complex.

The financial information, which the Seminole Tribe of Florida had futilely tried to block from getting into publication, revealed the tribe made $2.4 billion in 2015—majority of which came from the gambling business.

Last week, the tribe tried to get a federal judge to block a deposition made by Seminole Gaming CEO James Allen, but that bid became “moot” after Politico published the disclosure information, according to the Associated Press.

Politico came out with a story that quoted Allen saying that $2.2 billion of the Seminole’s $2.4 billion revenue last year came from the tribe’s gambling business, particularly its casinos in Tampa and Hollywood.

The state Department of Business and Professional Regulation turned over a copy of the deposition after the news site filed a public records request.

The losing streak of casino operator Genting Singapore continues in the first quarter of 2016 as its net profit for the first three months swung to 83 percent net loss on a large foreign exchange loss, higher bad debt provisions, finance and other costs.

Singapore Business reported the earnings of Genting, which operates the Resorts World Sentosa (RWS) integrated resort, slumped to S$10.8 million (US$7.89 million) compared to a year ago, when it had turned in a net profit of S$62.7 million (US$45.6 million). This is the fourth consecutive quarter that the company’s income fell since second quarter of last year.

Turnover fell 5 per cent year on year to S$608.01 million (US$ 443.80 million), dragged down by a 9 per cent slide in gaming revenue to S$450.54 million (US$328.80 million).

Adjusted earnings before interest, taxation, depreciation and amortization (EBITDA) of Genting came in at S$192.5 million (US$ 140.5 million) in the first quarter, down by 16 percent from the prior-year period.

The losing streak of casino operator Genting Singapore continues in the first quarter of 2016 as its net profit for the first three months swung to 83 percent net loss on a large foreign exchange loss, higher bad debt provisions, finance and other costs.

Singapore Business reported the earnings of Genting, which operates the Resorts World Sentosa (RWS) integrated resort, slumped to S$10.8 million (US$7.89 million) compared to a year ago, when it had turned in a net profit of S$62.7 million (US$45.6 million). This is the fourth consecutive quarter that the company’s income fell since second quarter of last year.

Turnover fell 5 per cent year on year to S$608.01 million (US$ 443.80 million), dragged down by a 9 per cent slide in gaming revenue to S$450.54 million (US$328.80 million).

Adjusted earnings before interest, taxation, depreciation and amortization (EBITDA) of Genting came in at S$192.5 million (US$ 140.5 million) in the first quarter, down by 16 percent from the prior-year period.

Swedish online betting operator Cherry AB made news last week when it announced that it was in the final stages of acquiring ComeOn Malta Ltd., the parent company of online casino and sports betting site ComeOn.com.

In an interview with CalvinAyre.com, Cherry CEO Jonas Wahlander said they expect major push courtesy of ComeOn’s “strong sportsbook presence,” not only in the Nordics.

“ComeOn has a strong sportsbook presence, which is something Cherry has been working to expand recently, so that will be a major boost to our total offering,” Wahlander said. “The UK is a particularly interesting one for us, and a market where ComeOn has a strong presence. We believe we can expand further in the UK with our multiple brands, such as CherryCasino and Eurolotto. ComeOn will also strengthen our position in German-speaking markets, where Cherry has been making rapid progress in recent months after acquiring the Almor brands last year and where Mobilbet will sit perfectly in our product mix.”

The acquisition, however, comes with a hefty price tag. The Swedish operator agreed to a pay a maximum total consideration of €280 million for the whole ComeOn enchilada, which will be paid in two tranches—the first totaling €80 million in half cash, half new Cherry shares to cover the 49 percent stake.

Swedish online betting operator Cherry AB made news last week when it announced that it was in the final stages of acquiring ComeOn Malta Ltd., the parent company of online casino and sports betting site ComeOn.com.

In an interview with CalvinAyre.com, Cherry CEO Jonas Wahlander said they expect major push courtesy of ComeOn’s “strong sportsbook presence,” not only in the Nordics.

“ComeOn has a strong sportsbook presence, which is something Cherry has been working to expand recently, so that will be a major boost to our total offering,” Wahlander said. “The UK is a particularly interesting one for us, and a market where ComeOn has a strong presence. We believe we can expand further in the UK with our multiple brands, such as CherryCasino and Eurolotto. ComeOn will also strengthen our position in German-speaking markets, where Cherry has been making rapid progress in recent months after acquiring the Almor brands last year and where Mobilbet will sit perfectly in our product mix.”

The acquisition, however, comes with a hefty price tag. The Swedish operator agreed to a pay a maximum total consideration of €280 million for the whole ComeOn enchilada, which will be paid in two tranches—the first totaling €80 million in half cash, half new Cherry shares to cover the 49 percent stake.