The Far East Development Group, an Australian casino investor listed in Hong Kong, recently announced the sale of its 49.9% stake in the Melbourne Ritz-Carlton Hotel for AUD 233.2 million (approximately USD 161.5 million). According to a document on Wednesday, the group expects to record a profit o
A think tank in Hong Kong recently released a report urging the government to further support the development of the local sports industry by more effectively utilizing gambling-related revenues and advancing structural reforms.According to a report by the Wen Wei Po, the report proposes 22 specific
The Hong Kong Jockey Club (HKJC) held its annual general meeting, electing Mr. Liao Changjiang as the chairman for the 2025/26 term, and Mr. Huang Jiachun as the vice-chairman. Mr. Liao Changjiang succeeds Mr. Li Zihou, who served as chairman for the past three years and has been with the club for 1
LET Group Holdings Limited and its subsidiary Summit Ascent Holdings will be delisted from the Hong Kong Stock Exchange on September 1, 2025. The reason is that both companies failed to meet the resumption conditions set by the exchange by the final deadline of July 10.The Listing Committee of Hong
The Hong Kong Jockey Club announced the appointment of Sarena Lin as the Chief Transformation Officer (CTO) and a member of the management committee, reporting directly to CEO Winfried Engelbrecht-Bresges.This is a newly established position at the Jockey Club. Sarena Lin will lead the Transformatio
Tokenization of Real World Assets (RWA) is no longer a distant concept, but is becoming a new solution for mainland enterprises to overcome financing difficulties. On one hand, there is an urgent need for liquidity and valuation restructuring among mainland enterprises; on the other hand, Hong Kong
The police launched a large-scale anti-gang operation codenamed "Ambush Arrow," arresting 82 people, including the mastermind "Thin B" of the Sun Yee On triad, core members, and their families. Investigations revealed that over the past 21 months, a licensed trust service company was used to deposit
The Hong Kong SAR government recently announced that it is advancing legislation to introduce legal, regulated basketball betting, aimed at curbing the spread of underground gambling activities, rather than increasing public revenue.According to the Hong Kong Economic Times, the Director of Civil Af
The Hong Kong Jockey Club (HKJC) announced that the total betting amount for the 2024/25 racing season increased by 3% year-on-year, reaching HK$138.85 billion (approximately US$17.6 billion), reversing the previous year's decline of 4.5% and indicating that the industry has returned to a growth tra
The Secretary for Financial Services and the Treasury of Hong Kong, Christopher Hui, recently announced that the "Stablecoin Ordinance" will be officially implemented in August 2025. Hong Kong will initiate a stablecoin licensing system, and the first batch of licenses might be issued within this ye
The Hong Kong Special Administrative Region Government recently published the "2025 Gambling Tax (Amendment) Bill" in the Gazette, proposing to officially include basketball betting within the legal framework. This amendment aims to curb illegal gambling activities, regulate market operations, and e
Hong Kong and Singapore police recently joined forces in a transnational law enforcement operation, successfully dismantling a cross-border group centered around Chinese individuals who used "cat pool" devices for large-scale telecommunications fraud, involving funds up to 120 million yuan, marking
