Macau’s operators have stepped up their corporate social responsibility (CSR) efforts in recent years, in particular when it comes to China cultural cooperation, which may help their case when it comes to concession renewal.
The government has not yet provided details on how it intends to handle the renewal process when the licenses expire in two years. Yet at the time of the interim review, the operators were judged on many aspects of their business including promotion of locals and sourcing from Macau’s small-to-medium sized businesses.
However, Klebanow Consulting’s Andrew Klebanow, who argues that operators have become more skilful at amplifying their CSR efforts via media platforms, insists that casinos “understand the importance of being good corporate citizens” regardless of the renewals process.
“One could take a cynical view and see these contributions as a way to curry favour with the central government ahead of licensing renewal, but it is in the...
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.