Osaka has thrown in the towel on the prefectural government’s long-cherished cherished prospect of opening its Yumeshima IR before the 2025 World Expo.
Osaka Mayor Ichiro Matsui explained, “People currently cannot travel between Japan and the United States. Opening before the World Expo was already going to be a tough climb, but with movement now stopped, we can’t avoid the conclusion that there isn’t enough time.”
Rather than selecting its IR consortium partner in June, the selection will be delayed until September.
However, there is, as yet, no indication that the MGM-Orix consortium will face any challenger, even on the slightly longer timeline.
According to the revised schedule, the approval of the prefectural assembly and the city council will be sought in February or March of 2021, and if the national government approves the license, Osaka will stipulate that the Yumeshima must open before the end of March 2027.
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.
SJM Holdings has appointed Toh Hup Hock as chief financial officer, replacing Robert Earle McBain who is retiring. Toh joined SJM in October, prior to which he was CFO of Shangri-La-Asia and Sands China.
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.