{"id":2670,"date":"2024-10-15T10:42:03","date_gmt":"2024-10-15T10:42:03","guid":{"rendered":"http:\/\/stakery.io\/?p=2670"},"modified":"2024-10-16T14:25:09","modified_gmt":"2024-10-16T14:25:09","slug":"igt-wins-5-3m-tender-for-ex-alvin-chau-owned-firms-hotel-casino-in-manila","status":"publish","type":"post","link":"http:\/\/stakery.io\/index.php\/2024\/10\/15\/igt-wins-5-3m-tender-for-ex-alvin-chau-owned-firms-hotel-casino-in-manila\/","title":{"rendered":"IGT Wins $5.3m Tender for Ex-Alvin Chau-Owned Firm\u2019s Hotel Casino in Manila"},"content":{"rendered":"
<\/div>\n

IGT wins Manila tender<\/h2>\n

International Game Technology (IGT) has won a $5.3m tender to supply and service gaming equipment for a new-build hotel casino owned by Macau-based LET Group Holdings Ltd in the Philippine capital Manila.<\/p>\n

\n

LET confirmed the IGT deal backdated to Friday<\/p>\n<\/blockquote>\n

Formerly owned by imprisoned Macau gambling maven Alvin Chau, LET confirmed the IGT deal backdated to Friday for one of its sub-brands Suntrust Resort Holdings Inc.<\/p>\n

IGT\u2019s successful bid will see the Rhode Island-based firm outfit Suntrust\u2019s Westside City Phase 1 hotel casino with its products ahead of the under-development project\u2019s slated 2025 opening.\u00a0<\/p>\n

Suntrust is to be the exclusive operator and manager of the Westside City hotel casino going up in the commercial gaming resort of Manila\u2019s Entertainment City zone.<\/p>\n

IGT nails the deal<\/h2>\n

According to GGRAsia<\/em>, IGT secured the Manila deal via a combination of its aptitudes. An LET update cited IGT\u2019s \u201cvast experience\u201d in the field, the \u201cgreatest functionality\u201d of its products, and that its tender was the \u201csecond lowest\u201d among four other bidders.<\/p>\n

LET also referenced IGT\u2019s pedigree of successful \u201cmultiple project implementations in Macau, Australia, Vietnam, and the Philippines.\u201d The group, led by businessman Andrew Lo, also stated IGT\u2019s experience in the latter country ensures its \u201cequipment, software and services\u201d will all comply with all government and regulatory requirements<\/a>.\u00a0<\/p>\n

\n

will supply Suntrust with \u201cequipment, software and services\u201d<\/p>\n<\/blockquote>\n

Under the deal, a Singapore-registered sub-brand of IGT will supply Suntrust with \u201cequipment, software and services.\u201d These provisions include a casino management system, user licenses for \u201cmobile casino management system software; and speciality software.\u201d<\/p>\n

IGT will also provide table manager software, licenses for cashless gaming and tournament system software software, plus connection licenses for floor systems. The US global gambling technology company will also provide the Manila hotel casino with consulting services, \u201cproject management, installation, training and go-live support.\u201d<\/p>\n

Last week LET also gave an update on another of its sub-brands, Summit Ascent Holdings Ltd, in which the former Chau parent has a 70% stake. Summit runs the\u00a0Tigre de Cristal Resort & Casino in Russia\u2019s Vladivostok and is beset with multiple issues.\u00a0<\/p>\n

LET\u2019s Russian woes continue<\/h2>\n

LET stated the Russia operation continues to \u201cface significant challenges and uncertainties due to the ongoing and escalating Russia-Ukraine conflict, along with the associated sanctions levied against Russia.\u201d<\/p>\n

Hong Kong\u2019s Securities and Futures Commission (SFC) on February 14 suspended trading on LET and Summit shares. The SFC also took that opportunity to warn it could delist the two firms over \u201cserious concerns\u201d about the management<\/a> of both companies, including a breach of rules over a $116m sale of assets in Russia.<\/div>\n

In a statement late last month, the SFC also announced it had initiated legal proceedings \u201cto seek a share repurchase order\u201d to protect the interests of LET and Summit\u2019s independent minority shareholders.<\/p>\n

The lawsuit was filed in Hong Kong\u2019s Court of First Instance \u201cas a result of alleged misconduct\u201d of Lo, who is controlling shareholder, as well as CEO and Chairman of the two firms.\u00a0<\/p>\n

The post IGT Wins $5.3m Tender for Ex-Alvin Chau-Owned Firm\u2019s Hotel Casino in Manila<\/a> appeared first on Vegas Slots Online News<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

IGT wins Manila tender International Game Technology (IGT) has won a $5.3m tender to supply and service gaming equipment for a new-build hotel casino owned by Macau-based LET Group Holdings Ltd in the Philippine capital Manila. LET confirmed the IGT deal backdated to Friday Formerly owned by imprisoned Macau gambling maven Alvin Chau, LET confirmed…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[19],"tags":[],"_links":{"self":[{"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/posts\/2670"}],"collection":[{"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/comments?post=2670"}],"version-history":[{"count":1,"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/posts\/2670\/revisions"}],"predecessor-version":[{"id":2671,"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/posts\/2670\/revisions\/2671"}],"wp:attachment":[{"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/media?parent=2670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/categories?post=2670"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/tags?post=2670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}