GENTING's VEGAS DEBUT

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. Indeed other Asian jurisdictions are closely watching the Philippines’ efforts to bridge the land-based and online divide with a view to following suit, while Nepal is likely to have its first online operator live within two months. We particularly examine the island of Cebu as a gaming hub.

It’s one of the top tourism destinations in the country and is already home to multiple casinos. Two new large-scale properties are under development, but analysts hold mixed views on just how exciting the island will be as an actual gaming destination and say the operators need to stay focused on catering to the tastes of the local market to underpin their earnings.

Switching countries, we also look at the prospects for Resorts World Las Vegas, which opens this month. The resort is owned by Malaysia’s Genting Group, one of the biggest operators in the Southeast Asian region which in recent years has been making a push into the U.S. market.

The more than $4 billion Resorts World Las Vegas will be the first from the ground up resort to open on the Las Vegas Strip and expectations are running high. Property President and CEO Scott Sibella also offers up his views on the opening with Asia Gaming Brief.

In these pages you’ll find the most relevant updates across the Asia gaming jurisdictions. In Macau, the digital yuan brings the promise of a “sky’s the limit” casino market: as speculation about the introduction of the digital yuan 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.

Across to Japan, and although the central government appears determined to push ahead with the IR process, at present it appears that only one location - Nagasaki - seems to have all its ducks in a row: Osaka and Wakayama only have single bidders, while Yokohama is vulnerable due to unstable politics, with a possibility that a win by an anticasino candidate in upcoming elections would scupper the bid. In turn, the prospect of legal sports betting has created a buzz in the global community, though industry insiders warn that Tokyo will need to do a better job on regulation than it has with casinos if the market is to reach its full multi-billion dollar potential.

Meanwhile Australia’s hospitality and gaming industry is suffering from a labor shortage, which has been described as having hit “crisis” levels. Pre-Covid, there were around 1.1 million migrant workers in the country, with a large portion of these employed in the hospitality sector which make up a significant gap.

Special contributions in this edition include Susan O’Leary, CEO of Alderney eGambling, on the ever-changing landscape of eGaming; and Sudhir Kalé who puts the Crown/ Star merger to the Drucker test.

Asia Gaming Brief managing editor Sharon Singleton has the Last Word on how the travel industry needs vaccine relief.

Happy readings and stay safe!

On behalf of Asia Gaming Brief

Rosalind Wade & Luis Pereira | CO-FOUNDERS