The Macao Government Tourism Office (MGTO) has awarded a four-star hotel license to the new Lisboeta Hotel in Cotai.
The hotel has been developed by Macau Theme Park and Resorts Limited, a company led by the 27-year-old Arnaldo Ho, son of Stanley Ho and SJM Holdings Managing Director Angela Leong.
The hotel is located next to the under-construction Grand Lisboa Palace, which is SJM’s major effort to recapture momentum against its rivals after previously missing out on the Cotai development boom. SJM’s has steadily been losing market share to the other five concessionaires, and the much-delayed Grand Lisboa Palace is being created to reverse that trend.
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.
South Korea said on Sunday it will extend social distancing measures introduced to try to curb the spread of the novel coronavirus pandemic for another six days, to Jan. 3 after reporting a further 970 cases on Saturday.
Predicting a spike in Covid-19 cases in January, Goa state Health Minister Vishwajit Rane has appealed to tourists to take precautions and to observe government appeals to wear masks and practice social distancing.
Operators in Entertainment City had already begun to complain about the impact of rising competition on their margins even prior to the Covid-19 crisis. Now, with the outlook highly uncertain due to border closures and the erosion of the VIP sector, they may have to contend with three new developments pressing ahead.
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.