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Macau will face the biggest test of the mantra “if you build it, they will come,” as Sands China’s $2 billion “The Londoner” gets set to open its doors after the worst year in modern records for the world’s largest gambling hub.
Sheldon Adelson, whose vision for gaming in Asia helped reshape the skylines of both Macau and Singapore, died in January at age 87, though analysts expect the company to continue with its commitment to the region.
Lower operating costs and a better business mix are likely to have helped the bottom line of Macau’s operators in the fourth quarter, despite continued low revenues, Morgan Stanley says.
Hope springs eternal in the minds of Tomakomai IR advocates. The answer delivered from the lips of Hokkaido Governor Naomichi Suzuki keeps coming back “no,” but what seems to be delivered to their ears is “maybe soon.”
One gaming operator to watch in 2021 will be India’s Delta Corp., whose stock got a mid-month bump in December after it announced it had received approval in principle to build an integrated resort on shore in Goa.
Macau Chief Executive Ho Iat Seng reaffirmed in his policy address this week that “promoting an adequate economic diversification” remained a key objective and a key way forward will be developing a financial industry.
In late September, the Chinese Ministry of Agriculture and Rural Affairs, together with the General Administration of Sports (GAD) revealed a five-year blueprint that would aim to expand and promote the country’s already mammoth horse-racing industry.
As Macau celebrated the 20th anniversary since the handover to China last December, there was no indication of how the gambling hub’s fortunes were about to change so radically.
Behind the sea of red in Genting Malaysia’s Q3 results, analysts found reason for cheer in the performance of its domestic operations, which generated a positive EBITDA of RM541 million ($133 million) in the quarter.
Singapore’s two integrated resorts surprised analysts with the strength of their most recent results, despite higher entry fees for locals and a lack of international travel.