Tag: Increase

  • Get your $5000 Wild Casino Welcome Bonus now to increase your chances of Winning Big!

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  • De Minaur, Fritz Advance In Tokyo, Increase Turin Chances

    De Minaur, Fritz Advance In Tokyo, Increase Turin Chances

    Alex de Minaur and Taylor Fritz boosted their Nitto ATP Finals qualification chances on Tuesday at the Kinoshita Group Japan Open Tennis Championships, where they both earned first-round wins.

    Australian De Minaur came through a hard-fought battle against British lefty Jack Draper, advancing 4-6, 7-6(4), 7-6(1) in three hours and four minutes.

    De Minaur rallied from a break down in the second set and broke qualifier Draper’s serve when the 21-year-old was trying to close out the match at 5-4 in the third set. The World No. 13 locked in from the baseline and started to pull the tiring Draper from corner to corner to improve to 13-4 in opening-round matches this year.

    “I think whenever someone is struggling at the end it makes it much harder to finish off,” De Minaur said. “Because you can’t focus on what you want to and you just try to make him play as many balls as possible and then he was just playing free. I think this match was won on attitude and fitness. Happy to get the win and still be alive.”

    De Minaur, who now leads Draper 2-0 in the pair’s Lexus ATP Head2Head series, is 13th in the Pepperstone ATP Live Race To Turin on 2,515 points. He is 595 points behind eighth-placed Holger Rune, who occupies the final qualification spot.

    Chasing his second title of the season, De Minaur will need a deep run in Tokyo to further increase his chances of making his debut at the prestigious year-end event. The fourth seed will next face Diego Schwartzman after the Argentine earned his 250th tour-level win.

    Schwartzman produced a rock-solid display to down countryman Francisco Cerundolo 6-4, 6-1 in one hour and 21 minutes, backing up his run to the fourth-round in Shanghai last week.

    Diego Schwartzman
    Photo Credit: ATP Tour
    Top seed Fritz followed De Minaur onto court and moved past Cameron Norrie 6-4, 6-3 in the latest chapter of the pair’s long-running Lexus ATP Head2Head rivalry.

    The American is the defending champion at the ATP 500 hard-court event and made a quick start to his title defence, firing 13 aces in a strong serving performance to advance after one hour and 21 minutes. Fritz now leads Norrie 7-6, with all 13 meetings coming on hard courts.

    “It was really close to lose the first set. I was thinking it was going to be a three setter,” Fritz said. “I was lucky to get the break back in the first and then I felt my level picked up and I started playing a lot more smoothly.”

    Fritz is four places above De Minaur in ninth in the Pepperstone ATP Live Race To Turin, 145 points behind Rune. The 25-year-old, who reached the semi-finals on debut in Turin last year, is one of five players to earn more than 50 wins this year, with his victory against Norrie his 52nd.

    Fritz will next meet Japanese wild card Shintaro Mochizuki or Argentine Tomas Martin Etcheverry.

    In other action, Cristian Garin beat Japan wild card Sho Shimabukuro 6-4, 3-6, 6-3, while Alexei Popyrin upset Karen Khachanov 6-4, 6-2.

  • ATP Announces Record $37.5 Million Prize Money Increase For 2023

    ATP Announces Record $37.5 Million Prize Money Increase For 2023

    The ATP has announced the largest single-year increase in player compensation in its history. The $37.5 million increase takes total compensation at ATP Tour and ATP Challenger Tour events to $217.9 million for the 2023 season, an all-time record.

    Players will receive an increase of $18.6 million of on-site prize money paid out across the ATP Tour, led by the expansion of three ATP Masters 1000 tournaments from eight to 12-day events. A further two ATP Masters 1000 events are set to expand in 2025, creating more days of action and playing opportunities at top-tier ATP events.

    The record increase also includes a significant uplift on the ATP Challenger Tour, which will see on-site prize money grow by 75 per cent, from $12.1 million to $21.1 million. It follows the announcement of sweeping Challenger Tour enhancements earlier this season designed to strengthen the sport’s pathway and player earning potential.

    In addition, a revised bonus pool structure introduced through OneVision, ATP’s strategic plan, is set to deliver bonus pools of $21.3 million in 2023, a $9.8 million increase on 2022 (+85%), to an expanded group of top-performing players.

    Increases will be bolstered by ATP’s newly established profit-sharing formula, also introduced through OneVision in 2022, under which players will share in the financial upside of the ATP Masters 1000 events. Any increases in Grand Slam prize money, which would further add to the player compensation figures, are yet to be announced for 2023.

    ATP Chairman Andrea Gaudenzi said: “Our players are world-class athletes and it’s our priority to ensure they’re compensated accordingly. These record increases in 2023 are a strong statement for the ATP Tour and highlights our commitment to raising the bar in tennis. It also speaks to the collective progress we’ve been able to make as a sport under the OneVision strategic plan. There is immense potential for growth in our sport when we work together.”

    The 2023 prize money increases follow the 2022 Nitto ATP Finals this week in Turin, which is offering record prize money of $14.75 million. This represents more than a 60 per cent increase on pre-pandemic levels.

    The 2023 ATP Tour season kicks off from 29 December at the United Cup, a stunning new ATP-WTA team event played across three cities in Australia. It runs through to the Nitto ATP Finals in Turin and the Davis Cup Finals by Rakuten, which becomes an official part of the ATP Tour calendar from next season.

  • PLC Reports 47% Revenue Increase in H1 2022

    PLC Reports 47% Revenue Increase in H1 2022

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    Premium Leisure Corp (PLC), an investment holding company that participates in gaming-related businesses, has posted its financial results for the first half of 2022. The results demonstrate a strong post-COVID recovery and show the company’s strengths.

    PLC Recorded Improved Revenues

    As reported by PLC, the company earned around $14.69 million (current conversion rates) for the period, which represents a YOY increase of 47%. For comparison, the company roughly earned about $10 million for the same period last year. PLC also reported consolidated revenues of $21 million for the period, up 18% from H1, 2021.

    The company attributed its improved results to the better economic landscape in 2022. According to a statement by a PLC spokesperson, the company’s operations during the first half of the year were strong despite the echoing effects of the COVID-19 pandemic.

    Both of PLC’s Gaming Brands Performed Well

    Taking a look at how PLC’s various gaming brands performed, we see that Premium Leisure and Amusement (PLAI) saw its revenue increase to $17 million. This is notably 20% more than what the brand earned during the first half of the previous year. According to PLC, PLAI’s GGR increased thanks to the waning pandemic and the eased up quarantine rules. This helped the company get its casino operations going and rake in better revenues.

    Meanwhile, Pacific Online Systems Corporation (POSC), PLC’s B2B gaming brand, saw revenues increase by a more modest 7% to $3.84 million. The company dropped its KENO operations in early 2022 and instead opted to focus on Lotto sales. This strategy turned out to be a winning one. In addition, POSC’s operating expenses declined by 22% to $2.6 million, which attests to the company’s robust cost efficiency measures.  

    Other Philippines-related News

    PLC’s results for the first half of the year are in line with the overall recovery tendency the Philippine market is experiencing. According to the PAGCOR, the country’s gaming authority, the gambling industry has been experiencing a strong recovery since the beginning of the year.

    In other news, the Philippine Court of Appeals recently decided to lift the freeze on Chinese junket funds. The authority announced the end of an earlier asset preservation order which came after $81 million were stolen from the Bangladesh central bank. Sadly, the Philippine government managed to return only a fraction of the money that was originally stolen during the cyberattack.

    On a separate note, in June, Universal Entertainment accused the PAGCOR of corruption amid the infamous Okada Manila incident.

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  • Junket and Gaming Closures See Macau’s Unemployment Increase

    Junket and Gaming Closures See Macau’s Unemployment Increase

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    The dismantlement of mass junket operations in Macau has had an expected consequence – an increase in overall unemployment. In the first months of the junket clampdown, former employees of those businesses reported that they had experienced a steep decline in their finances and were struggling to adapt and find new jobs. This is not surprising, as junkets accounted for a hefty number of the total workforce in the Special Administrative Region.

    New Data In, Unemployment Numbers Up

    Now, the Statistics and Census Service has put the unemployment rates of residents for the period between May and July 2022 at 5.4% in the latest surveyed period. This is not necessarily due to the dismantlement of junket operations, with a more pressing worry being the immediate restrictions to Macau casinos that are put in place to fight the spread of COVID-19. Some 377,000 workers are presently in Macau and have different positions across the city’s businesses.

    Expectedly, employment in gaming and junket activities, hotels, restaurants, and other leisurely businesses saw a decline. Meanwhile, unemployed individuals hit 15,600 over the latest surveyed period. Most of these newly unemployed workers though used to work in the junket or gaming sectors. There has also been an increase in underemployed workers, who have now reached 50,600 of the total workforce.

    There is still a lack of full-scale recovery that would allow tourism to pick up. However, the Macao Government Tourism Office has already restarted promoting the SAR to mainlanders in China. In fact, the Saturday visitation reached 18,620, the highest it has been since August 3 when travel restrictions from the nearby Guangdong province were finally lifted.

    Tourism Rebounds as Concessionaires Face More Pressure

    Between August 20 and August 26, Macau saw as many as 103,162 tourists entering the SAR, with travel picking up. Macau is also on a mission to transform itself from a gambling hub (at least for Chinese citizens) to one that attracts international tourists and gamblers. The SAR is increasingly looking to pull away from asking Chinese visitors to spend their money on games of chance.

    But then again, concessionaires would need to still reach a minimum revenue threshold as outlined by the administration. While skilled laborers may be readily available on the market, Macau’s six concessionaires will have to come up with a way to attract more tourists while navigating the vagaries of Beijing, which is determined to uphold a zero-COVID-19 policy. The “Macau Week” promotion on the mainland should help bring more tourists happily, but Macau should also tread carefully for the aforementioned reasons.

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