Australia triumphs over India in Cricket World Cup Final

Following the opening in July 2023, the first Integrated Resort in Europe, where SiGMA CIS/Balkans held its event in September 2023, Melco announced that it had partnered with John Keells Holdings PLC (JKH) to develop the ‘City of Dreams Sri Lanka’, a ground-breaking integrated resort set to redefine luxury hospitality and entertainment in the region.

The partnership between Melco and John Keells brings a $125 million investment for the fit-out and equipping of the gaming space, transforming the former 'Cinnamon Life Integrated Resort' into the 'City of Dreams Sri Lanka.'

'City of Dreams Sri Lanka' will feature a 687-key hotel, branded as 'Cinnamon Life,' equipped with ballrooms, banquet facilities, and an exhibition centre capable of hosting events for up to 5,000 guests. Additionally, a 113-key exclusive hotel and a vast 500,000 square foot shopping and entertainment complex, including gaming operations, will further enhance the resort's appeal.

Mr. Lawrence Ho, Chairman and Chief Executive Officer of Melco, said, “We are thrilled to be part of this landmark development in Sri Lanka and to be in partnership with John Keells. We believe Sri Lanka has immense potential and this opportunity complements our existing portfolio of properties.

“Furthermore, City of Dreams Sri Lanka is expected to serve as a catalyst for stimulating tourism demand and promoting economic growth in Sri Lanka, drawing inspiration from the successful examples set by similar integrated resorts in other jurisdictions. We will continue to work closely with our esteemed partners and the Sri Lankan Government to ensure the success of this venture, and we expect to make a significant and positive impact on the local community and economy.”

With plans for casino operations to begin in mid-2025 and ongoing discussions for potential expansions, 'City of Dreams Sri Lanka' stands poised to become a premier destination in South Asia, offering a blend of luxury, entertainment, and unparalleled experiences.

The City of Dreams Mediterranean faced turmoil with following challenges since it opened its doors four months prior. Issues like construction delays, pandemic disruptions, and geopolitical conflicts all played a part in hindering the success of the mega project. The resort grappled with declining casino traffic, prompting tough decisions to ensure project viability. Despite efforts to adapt marketing strategies and attract diverse clientele, Melco faced persistent concerns about working conditions.

Next SiGMA Event: Join us in Manila from the 2 – 5 June for SiGMA Asia. Find all the details .

Sixteen individuals involved in an illegal online raffle on Facebook were apprehended on Wednesday by the Philippine National Police Anti-Cybercrime Group (PNP-ACG) in collaboration with Philippine Amusement and Gaming Corporation () representatives.   

The suspects, operating under the Facebook page "Lucky Dream 4," were caught during their 50th raffle event livestream from their office in a Biñan subdivision in Laguna.  

PAGCOR Chairman and CEO Alejandro Tengco emphasized that the arrest aligns with the state gaming agency’s commitment to intensify efforts against illegal online gambling. Strengthened collaboration with law enforcement agencies aims to safeguard the public, particularly the youth, from the dangers of illegal online gambling platforms.  

“We have been receiving reports of illegal online activities including those on social media platforms. As the country’s gaming regulator, it is our duty to protect the public – especially the youth -- from these illegal online gambling sites,” Tengco said in a statement.   

According to , the Facebook page "Lucky Dream 4," boasting 111,000 followers, has been conducting live online raffle games, offering second-hand modified motorcycles as prizes. PAGCOR Senior Vice President Raul Villanueva disclosed that the group has been operating for a significant period, accruing substantial proceeds from their illegal activities.  

During a single raffle event, the group could generate up to Php1.8 million (€29,155), selling an average of 40,000 to 50,000 tickets priced at Php40 each (€0.65).   

“They have amassed over Php8 million (€129,596) from the time they started this illegal online operation because, in one draw, they can sell as many as 50,000 tickets,” said Villanueva, head of the PAGCOR Security Group.  

Villanueva also expressed concern over the involvement of youth in the group, with most members being under 27 years old. He underscored that the Lucky Dream 4 group was engaged in illegal online gaming activities and urged them to obtain a licence from PAGCOR if they intended to operate legally.  

PAGCOR advises individuals engaged in similar activities to reconsider their actions and register their online gaming operations with the regulatory body.   

“We advise those who are involved in similar activities to think again. Register your online gaming operations with PAGCOR instead. There will be consequences if you continue to operate illegally because PAGCOR is constantly in touch with law enforcement agencies to ensure that these activities do not proliferate,” Villanueva said. 

Upcoming SiGMA event: SiGMA Asia 2024, 2 – 5 June. Find all the details .

MGM China has recorded a record-high adjusted EBITDA and market share during the first quarter of 2024, this followed another remarkable . Unaudited results revealed adjusted EBITDA reaching HKD2.5 billion (€298.3 million), marking a 77.3 percent year-on-year increase and a 155 percent surge from the first quarter of 2019.  

According to the company’s report, the group attributes its stellar EBITDA results to its mass-focused business approach and ongoing enhancements in operational efficiency, underscoring its ability to adapt and thrive in evolving market conditions.  

Brokerage firm Citi earlier said in a report that is among the pack who will lead in operational performance in Macau’s gaming sector. 

MGM China's market share climbed to 17 percent in the first quarter of 2024, up from 15.2 percent in the same period last year and a notable increase from 9.5 percent in the first quarter of 2019. Moreover, MGM Cotai and MGM Macau contributed significantly to this growth, with market shares of 10.1 percent and 6.9 percent, respectively.  

MGM Cotai reported revenue of approximately HKD4.8 billion (€572.7 million) during the quarter, representing substantial increases from previous periods. Adjusted EBITDA at MGM Cotai surged to HKD1.4 billion (€167 million), while MGM Macau's revenue reached HKD3.5 billion (€417.6 million), accompanied by an adjusted EBITDA of HK$1.1 billion (€131.2 million).  

Overall, MGM China's net revenue soared by 70.6 percent year-on-year, surpassing 143 percent of first-quarter 2019 levels, totalling HK$8.3 billion (€990.4 million). Gross gaming revenue rose by 7 percent quarterly, reaching 74 percent in the same period in 2019, reflecting strong performance in the gaming segment.  

MGM China's President and Executive Director, Kenneth Feng, expressed confidence in the company's future and its commitment to shareholders. The company proposed a total dividend of HKD0.347 (€0.041) per share, underscoring its confidence in the resilience and potential of Macau's gaming industry. 

Upcoming SiGMA event: SiGMA Asia 2024, 2 – 5 June. Find all the details .

The is setting its sights on attracting approximately 15 percent more inbound tourists from the United States, recognizing the significant contribution of this "highly valuable" market to the nation's tourism sector's full recovery.  

In 2023, the Philippines welcomed over 903,299 visitors from the US, generating PHP35 billion (€567 million) in tourism revenue—the highest among the country’s top tourist markets. This significant contribution underscores the importance of the American market in driving tourism receipts. 

In a report by the Philippine News Agency, Francisco Hilario Lardizabal, Philippine Tourism Director-Attache in New York, emphasized the strategic importance of the US market, highlighting that despite fewer arrivals, their spending power significantly boosts tourism revenue. He said that many inbound US travellers to the are former Filipino citizens, with a primary motivation to visit friends and relatives, leading to longer stays and higher expenditures. 

Lardizabal expressed confidence in achieving a 15 percent increase in inbound US visitors compared to 2023 figures. The Department of Tourism (DOT) is adopting a multifaceted approach to attract the market, including forging partnerships, enhancing training for travel agents, participating in B2B travel trade events, and organizing curated familiarization tours. 

A shift in US traveller demographics has been observed, with millennials showing increasing interest in the Philippines. The DOT aims to address the needs and preferences of this demographic by focusing on immersion or experiential travel, wellness tourism, workcation, premium travel, solo travel, and adventure and sports. 

Lardizabal highlighted emerging travel trends in the US market, such as increased interest in sports and activities like hiking, horseback riding, cycling, and scuba diving. These preferences present opportunities for the Philippines to tailor its offerings to cater to the evolving needs of US travellers, thereby further enhancing its appeal as a tourism destination. 

Upcoming SiGMA event: SiGMA Asia 2024, 2 – 5 June. Find all the details .