Imperial Pacific International’s parent company, IPI Holdings, has been collecting “receivables” but not sharing them with its subsidiary on Saipan, the Commonwealth Casino Commission said.
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
Grand Korea Leisure has issued a filing announcing that its two casinos in Seoul and the one in Busan will be extending their closures until February 15 under the continuing impact of the coronavirus pandemic.
Hong Kong Secretary for Transport and Housing Frank Chen said that if the number of Covid-19 confirmed cases in the SAR decreases to low double-digit or single-digit numbers, a possible customs clearance arrangement could be reached for travel to Macau and Mainland China.
The world is bouncing back, or at least coming to grips with the fact that going forward not much will be the same as before. Commendably, this industry quickly understood the need to adapt to a new normal, and that the days of targeting the low hanging fruit of the VIP sector are gone.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing what 2020 may have had in store.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.
