IN FOCUS: MACAU – A place in the Bay
Be what you want to be – Macau 2021 and beyond
Before delving into the much-discussed path of Macau’s diversification efforts and challenges in the past 20 years, and future outlook, let me take a step back. During Covid-19 there are 3 lines of concurrent thought for a ‘strategic’ tourism recovery, that is, one that better positions the city for greater sustainable development in the medium to longer term – one aim being a diversified tourism portfolio.
Greater Bay Area project to benefit, but not necessarily diversify Macau
China’s enormous Greater Bay Area (GBA) initiative sets out an ambitious role for Macau, though views are mixed on exactly how much...
Focusing on diversification
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.
Re-imagining Macau for a diversified future
This pandemic has changed the lives of many Macanese and millions of others globally. In this part of the world, we have moved from controlling its proliferation to managing a potential deep economic fallout as a result of it.
JURISDICTIONS UPDATES
Cautious optimism October marked a turning point for Macau casino operators
Macau’s gaming operators continued to chalk up heavy headline losses in Q3 as visitation to the territory remains low, but executives say they are hitting the breakeven point in October.
POGO shrinkage accelerates
While government officials have complained about the use of the word “exodus” by local media to describe departing Philippine Offshore Gaming Operators (POGOs), it’s clear that the sector has shrunk significantly and is still shrinking.
Singapore beats the odds
Singapore provided a bright note in Las Vegas Sands’ latest earnings report, with Marina Bay Sands beating expectations and turning in a profit.
Summit Ascent looks to next phase of development
Summit Ascent Holdings has reiterated that it is preparing at least US$200 million in investment funds for the Tigre de Cristal second phase development.
Online operators find new home in Myanmar
It’s been billed as a $15 billion smart city, powered by the latest in blockchain technology, but in reality it has emerged as a major online gambling hub and the new home to many of the operations that fled Cambodia after a ban on the practice last year.
Sihanoukville gets a face lift
While it’s too early to say Cambodia’s coastal gambling hub has risen phoenix-like from the ashes, there are encouraging signs that Sihanoukville is serious about transforming into a mass market tourism destination, with a significant improvement in urban infrastructure.
The Crown has slipped, but will it fall?
There has rarely been a less edifying spectacle in 21st century corporate Australian history than the serial evisceration of the directors of Crown Resorts before the Bergin Inquiry into, among other things, the suitability of its subsidiary licensee of the Barangaroo casino.
LAST WORD
Staffing in a crisis
2020 has been an unprecedented year in the global gambling industry, not least because of the staffing challenges that have been created by the pandemic.
SUPPLIER SPECIAL REPORT
UPCOMING EVENTS
TRENDING ARTICLES
Galaxy says wage dispute at Cotai project due to Mainland agencies
Galaxy Entertainment Group told Macau News Agency that recent wage dispute involving workers employed at its Cotai expansion projects, originated from fee disputes between the workers and mainland employment agencies.
MGM’s Entain bid chance to reshape group focus
MGM Resorts has thrown its cards into the online gaming ring, with an attempt to buy U.K.-listed Entertain for GBP11.3 billion ($15.4 billion), which may reshape the group and reduce its focus on Asia in the longer term.
Jonathan Halkyard appointed CFO of MGM Resorts
MGM Resorts has announced that Jonathan Halkyard will become Chief Financial Officer for the global gaming, hospitality, and entertainment organization. Halkyard is a senior corporate executive who spent 13 years in leadership roles at Caesars Entertainment and was more recently the President and Chief Executive Officer of Extended Stay America, Inc. and ESH Hospitality.
Asia Gaming Briefings – Dec 2020 Edition
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.
Asia Gaming Briefings – Nov 2020 Edition
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.
Asia Gaming Briefings – Oct 2020 Edition
Before the Covid-19 crisis, tourism in the Greater Mekong Sub-Region was at a record high, on track to welcome 80 million visitors in 2019, generating some $90 billion in revenue.