MGM Resorts said it remains committed to Macau and will continue to act in the best interests of its stakeholders and shareholders. The comment came after a letter from an investor urging it to sell a stake in MGM China.
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.
Wynn Resorts said it has again featured in Fortune magazine's most admired companies list, appearing in the top five in the hotels, casinos and resorts category.
The need to recover lost revenue following the Covid-19 pandemic is likely to stall Macau's push to diversify away from gaming, a study by local academics has found.
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.
