DIVERSIFY, OR ELSE...

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. As a result, industry watchers predict that the government will step up its efforts to promote diversification, backing up its attempts at moral suasion with contractual teeth.

In this focus edition of the magazine, we take a look at what a future Macau might look like and its place in China’s Greater Bay Area mega project thorough analysis of academics. Professor Desmond Lam looks at several options, ranging from health and wellness to cater for a growing area of the travel market as China’s population ages, to taking advantage of its geographical position to promote water sports and other sporting activities. In turn, Professor Glenn McCartney, examines the various proposals that have been mooted in the past, such as creating a financial services industry, to assess whether any stand any real chance of success.

In these pages you’ll find the most relevant updates throughout the Asia Gaming Jurisdictions.

Staying with Macau, 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 and expect conditions to improve.

Turning to The Philippines, while government officials have complained about the use of the word “exodus” to describe departing POGOs, it’s clear that the sector has shrunk significantly and is still shrinking, resulting in a massive reduction of tax revenue. To curb the loss PAGCOR is developing plans to legalize online gaming for local Filipinos and allow licensed casino operators to run their own online gaming arm for VIP guests.

Across the straits, Singapore provided a bright note in Las Vegas Sands’ latest earnings report, with Marina Bay Sands beating expectations and turning in a profit. Reasons for further optimism at the IR, which has consistently had amongst the best margins in the business, include an expansion in the number of slot machines from January next year by another 500 cabinets.

Over to Indochina, many of the operations that fled Cambodia after a ban on the practice last year seem to be finding new homes in Myanmar. Such is the rush, powered by fintech, that observers expect that the city of Myawaddy will surpass Sihanoukville in merely three years.

We dedicate the latter section of the edition to an especially robust Suppliers Special Report. Taking it as an indication that the industry is driving its own bounce back. We’re featuring a significant larger array of products and services this time around, ranging from traditional land base cabinet suppliers to ePayment solutions. You’ll be surprised by the level of ingenuity and innovation the industry is displaying as it pivots to adapt to this new normal.

Happy reading. Stay healthy. Keep Strong.

On behalf of Asia Gaming Brief

Rosalind Wade & Luis Pereira

CO-FOUNDERS