Commonwealth Casino Commission executive director Andrew Yeom says the $2 million it will receive from the government will not be enough to run the regulatory body, adding it would be better if there were more casinos on Saipan.
The commission relies on annual license payments from its sole operator, Imperial Pacific International. The operator’s license has been suspended indefinitely for failure to pay its fees and other regulatory infractions.
There are signs that Blackstone has not yet given up on Crown Resorts after Blackstone chief operating officer Jonathan Gray said his firm’s executives are “big believers in Australia” and was “committed to helping businesses realize their potential”.
For this edition of our magazine, we focus on Southeast Asia, with a particular look at the Philippines. The country’s casino industry has been among the hardest hit in Asia, with the integrated resorts in Manila’s Entertainment City having remained mostly closed to the general public since the beginning of the crisis last year.
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.