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
Japan’s VIP challenge
VIP play had been projected to be a major segment of the potential overall Japanese gaming market, but a lot has changed since the law permitting integrated resorts was passed in 2018.
Asia Gaming Briefings – April 2021 Edition
In this April edition of Asia Gaming Briefings we take the pulse of how the North Asia jurisdictions of Japan, Korea and the Russian Far East have fared.
Asia Gaming Briefings – Feb 2021 Edition
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.
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.