For this edition of our magazine, we focus on Southeast Asia, with a particular look at the Philippines, which longer-term is still viewed as one of the most promising markets in the region. 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.
Cebu, with its white sand beaches and coral reefs, was one of the most visited tourism destinations in the Philippines in 2019 and has sparked the interest of integrated resort investors as a potential gaming hub.
Other Asian jurisdictions are closely watching the Philippines’ efforts to bridge the land-based and online gambling divide with a view to following suit, while Nepal is likely to have its first online operator live within two months.
Resorts World Las Vegas is scheduled to open this month and the company claims it will be the first “truly groundbreaking” resort in Las Vegas, set to become the first all new property in more than a decade to switch on the lights on the Strip.
Scott Sibella, president of Resorts World Las Vegas, speaks with Asia Gaming Brief about the upcoming opening of Resorts World Las Vegas, how he sees demand springing back after the pandemic and the likely revenue mix.
As speculation about the introduction of the digital yuan in Macau increases, the focus is beginning to switch away from the negative impact on the junket industry and VIPs to the immense potential an e-currency may offer for the mass market.
China’s domestic travel was almost back to 2019 levels during the Ching Ming Festival in April and the pent-up demand to venture overseas once restrictions are relaxed remains intact, says Professor Wolfgang Arlt, CEO of the China Outbound Travel Research Institute (COTRI).
Although foreign investor interest is strong in Vietnam, the market is complicated, with government regulations mandating a minimum $2 billion investment, a figure seen as too high for a resort that will be wholly reliant on foreigners.
Nagacorp, Cambodia’s largest casino operator, has faced a rocky quarter, with another shutdown, labour issues and a blow to its expansion plans. The group came under fire from labour unions over plans to cut jobs despite reporting a robust recovery after the first phase of the pandemic.
A combined entity consisting of The Star Entertainment Group and Crown Resorts would create a behemoth gaming enterprise not just in Australia, but in the wider Asia gaming market, though market observers have flagged a number of regulatory hurdles that could hinder it from ever becoming a reality.
Wakayama’s IR bid appears to be on the ropes as the Suncity Group has withdrawn from the RFP process. This leaves the Wakayama RFP—which has been delayed for what until now had been unclear reasons—with only one remaining applicant.
Peter Drucker was arguably the most influential management scientist who ever lived. In 1981-82, Drucker articulated his Six Rules of Mergers and Acquisitions. We shall look at each of these six rules and evaluate the proposed Crown-Star merger according to these rules.
Over the past 12 months we’ve witnessed a radical shift in Asia’s gaming landscape, highlighting instability across the market. With over 20 years’ experience of the eGaming industry, the Alderney Gambling Control Commission is well placed to assist Asian operators to navigate the ever-changing eGaming landscape.
Six months into the year and there’s still no visibility as to when international travel may be able to resume in Asia. As countries in the Western world gradually get back to normal life thanks to fast-tracked mass vaccination programs, rollout in Asia and other developing countries has been shockingly slow.
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.