Malta Gaming Authority revokes BTM Entertainment’s licence, sets deadline for settlement

In the latest development in the Aussie pub feud, Tabcorp, a key player in the betting industry, has announced a strategic alliance with Laundy Hotels to safeguard its retail monopoly and counter the pressure from competitors like Entain. The agreement includes a commitment from Tabcorp to upgrade its facilities within Laundy Hotels' venues.

In response to the escalating competition from Entain, which has been expanding its presence in pubs through exclusive partnerships, Tabcorp has taken measures to strengthen its market position. The collaboration with Laundy Hotels, owned by billionaire publican Arthur Laundy and family, signifies a move by Tabcorp to preserve its monopoly and enhance customer engagement.

Under the exclusive deal, all Laundy Hotels will witness a transformation in their Tabcorp facilities, coupled with personalized customer offerings tailored to each venue. This partnership is part of Tabcorp's broader initiative to revamp its retail experience, aiming to create iconic TAB customer experiences and drive business acceleration in collaboration with Laundy Hotels.

Brenden Varcoe, Tabcorp's general manager of racing industry and venues, expressed enthusiasm about the partnership, citing it as a vote of confidence in Tabcorp's retail transformation efforts. With a focus on innovation and customer-centric enhancements, he said, Tabcorp aims to deliver state-of-the-art wagering experiences across Laundy Hotels' portfolio, integrating digital advancements and exclusive offers to elevate the overall customer journey.

Arthur Laundy emphasized the significance of the longstanding partnership with Tabcorp, highlighting the importance of providing top-notch service and fostering social environments within their establishments. The collaboration underscores a shared commitment to customer satisfaction and commercial growth in the wagering sector.

This strategic alliance with Laundy Hotels follows a similar successful partnership with Iris Capital, reflecting Tabcorp's dedication to enhancing on-premise experiences and driving mutual growth within the industry. Tabcorp has an exclusive retail betting license in New South Wales until 2033. As from August 2024, Tabcorp will exclusively operate for 20 years until 2043.

Suntrust Resort Holdings, controlled by LET Group Holdings (formerly Suncity Group Holdings), disclosed a loss of PHP256.1 million (€4.11 million) for the first quarter of 2024, marking a significant downturn from the PHP92.6 million (€1.48 million) profit recorded in the same period of last year. The attributed the loss to a sharp increase in operating expenses, tax expenses, and finance costs, coupled with a substantial decline in revenue and income. 

Operating expenses surged by 95 percent, escalating from PHP69 million (€1.1 million) in the first quarter of 2023 to PHP135.4 million (€2.17 million) in the same period this year, as indicated in the company's filings with the Hong Kong Stock Exchange and the Philippines Stock Exchange.

The loss per share amounted to PHP0.0353, in stark contrast to earnings per share of PHP0.0128 reported in the corresponding quarter of the previous year, reflecting the company's challenging financial performance.

Total revenue and income plummeted to PHP3,226 (€51.81) in 1Q24, primarily attributed to foreign exchange gains. 

Despite the financial setback, Suntrust Resort Holdings continues to advance its Westside City Project integrated resort in Manila. The project's main components include an entertainment complex and a five-star hotel boasting over 450 rooms. Additionally, the company is spearheading the development of the Westside shopping mall, an opera house, and a 2,000-room hotel complex.

Last week, the closing date for securing funding of up to PHP13.51 billion (€219.2 million) for the Westside City project has been pushed back by 12 months. The revised date is now set for April 30, 2025. 

The company anticipates the opening of the Main Hotel and Casino segment of the Philippines Westside City Project in the first quarter of 2025, signalling its commitment to realizing the project's long-term vision amidst current financial challenges. 

Genting Singapore achieved remarkable growth in the first quarter of 2024, recording revenue of SG$784.4 million (€538.5 million) and adjusted EBITDA of SG$369.5 million (€253.4 million). These figures represent a substantial increase of 62 percent in revenue and 93 percent in adjusted EBITDA compared to the same period last year.  

The company's gaming revenue surged by 69 percent annually to SG$576 million (€395.1 million) in the first quarter, with a notable quarter-over-quarter improvement of 31 percent.  attributes this growth to enhanced visitation and tourism spend during the Chinese New Year festivities, coupled with relaxed visa regulations between China and Singapore.  

The mutual visa-free agreement between China and Singapore, implemented in February 2024, contributed to a significant increase in visitor arrivals to Singapore. Chinese tourists have emerged as a key source market, bolstering Genting Singapore's integrated resort, Resorts World Sentosa.  

This turnout was experienced even if the company earlier  the potential changes in Chinese tourist behaviour prompted by the Chinese government’s warnings to avoid gambling.  

Genting Singapore provided updates on its revitalization initiatives, confirming that construction for the new Minion Land, Singapore Oceanarium, and Central Lifestyle Connector remains on schedule for phased openings starting from the first quarter of 2025. Moreover, the company expects to award the tender for the new Waterfront development, featuring two hotels totalling 700 rooms, in the third quarter of 2024, with on-site works slated to commence by the fourth quarter of the same year.  

Meanwhile, the former Hard Rock Hotel, which closed in March 2024, is undergoing extensive renovation and is scheduled to reopen as a new all-suite luxury hotel in early 2025. This strategic refurbishment aligns with Genting Singapore's commitment to providing exceptional hospitality experiences and further enhancing its offerings within the integrated resort landscape.  

Genting Singapore is the owner of Resorts World Sentosa, one of the largest integrated resort destinations in Asia. Resorts World Sentosa offers a casino, S.E.A. Aquarium, Adventure Cove Waterpark, Universal Studios Singapore theme park, hotels, MICE facilities, celebrity chef restaurants and specialty retail outlets. 

The Tattersalls Irish Guineas Festival, a prestigious event in the horseracing calendar, is set to take place from 24 to 26 May at The Curragh. This festival not only marks the commencement of the Irish Summer Classics with QuinnBet, which has been chosen as the official betting partner.

The festival is renowned for its record prize money of €2.4 million ($2.58 million), attracting competitors from around the globe. For the first time, several races will be included in the Tote World Pool, adding another layer of excitement for participants and spectators alike.

Evan Arkwright, the Curragh Racing and Sponsorship Manager, expressed his delight at QuinnBet’s decision to enhance their association with the Curragh. He stated, "Their brand will be visible across the three days to include which will ensure maximum exposure for them.” As part of the partnership, QuinnBet will lend its name to the €100,000 QuinnBet Emerald Mile and the €50,000 QuinnBet Premier Handicap.

Stephen Kelly, Managing Director of QuinnBet, shared his enthusiasm about the partnership. He said, “The Curragh is widely regarded as one of the best racecourses in the World and home to Ireland’s five most important flat races, two of which will take place over the Guineas Festival and open the curtains on the Irish Summer Classics Season. It is therefore a huge privilege for QuinnBet to be associated with this event which builds on our ongoing commitment to sponsorship of Irish Racing, that we and our customers are so passionate about.”

This partnership comes at a time when the British Horseracing Authority (BHA) has recently made changes to how non-runners will affect races, reflecting the dynamic and evolving nature of the sport. As the Irish Summer Classics Season begins, this partnership between QuinnBet and the Tattersalls Irish Guineas Festival promises to bring a new level of excitement and engagement to the world of horseracing.

The Irish Summer Classics Season is a time of vibrancy in Ireland, marked by a variety of events that cater to a wide range of interests. The season kicks off with Vantastival, a family-friendly festival held over the May Bank Holiday Weekend in the picturesque Beaulieu House and Gardens in Co. Louth. This is followed by the Kilkenny Rhythm and Roots Festival, a long-standing event since 1998, known for its eclectic mix of folk, blues, bluegrass, rockabilly, and cajun-inspired music. The AVA Festival in Belfast, a two-day grassroots event, then takes centre stage, celebrating and amplifying the strong current of electronic music and digital visual arts that has emerged from Northern Ireland. The Bank Holiday weekend is further enlivened by Forbidden Fruit, a festival featuring a diverse array of artists. The season is rounded off by the Life Festival, a three-day open-air weekender that showcases the finest electronic artists in the stunning surrounds of Belvedere House and Gardens. Each event in the Irish Summer Classics Season offers its own unique flavour, contributing to a rich tapestry of cultural experiences.