MACAU RELOADED

Lack of detail in the proposed amendments to Macau’s gaming legislation left the market to speculate on the government’s intentions, with disastrous effects.

The subsequent round of public consultation came and went leaving the industry with even more questions and few answers.

In the focus section of this November edition of AGBriefings’ magazine, we take the opportunity to gather some views and opinions on the potential changes in Macau and the future evolution of the world’s largest gambling hub.

We start by sharing with you the results of an AGB survey of industry stakeholders: operators, suppliers, consultants and academics, among others. The results were surprising!

Among other takeaways, GGR levels are not expected to ever return to where they were before as China keeps up the pressure on Macau to diversify and internal crackdowns.

We also asked Wang Changbin, director of the Centre for Gaming and Tourism Studies at the Macau Polytechnic Institute, how he views the proposed amendments to the gaming law and what the likely impact will be on the industry.

Antonio Vilela Lobo, a lawyer who has written a four-volume treatise on Macau gaming law and who is a former senior legal adviser to the Macau Casino Commission, writes on how he sees the concession retendering process playing out. He argues the merits of a direct award over a tender. Meanwhile, the operators have publicly requested an extension of the concessions contracts given the short timeframe remaining before the June deadline.

In these pages you will also find the most relevant updates across the Asian gaming jurisdictions.

In Macau, gross gambling revenue is beginning to show signs of recovery following the latest round of lockdowns, though it’s now clear it won’t reach anywhere near the levels that had been expected at the beginning of the year.

Over to Australia, David Green challenges the suitability of the appointment of an ‘omnipotent’ special manager to oversee operations following Crown’s Royal Commission enquiry.

Across to The Philippines, Okada Manila is going public in the U.S. through a merger with a special purpose acquisition company in a major vote of confidence in the potential for the gambling industry in the country.

In Malaysia, Genting’s long-awaited outdoor theme park is likely to open in the fourth quarter, providing a boost to the company’s recovery prospects. Analysts argue the park will complete the resort’s offering and generate solid demand.

From Russia, we hear from Stelios Tsifetakis, CEO of G1 Entertainment, the managing entity of Tigre de Cristal, on how the property has recovered to pre-Covid level monthly revenues due to strong support from the local Russian market.

While Asia has yet to be able to host a major gaming event, elsewhere the foot is back full on the throttle with Europe and Las Vegas hosting face-to-face meetings.

In this edition of the Special Report, suppliers tell us about their experience of the live events and what was on offer. They also detail their new and upcoming product launches and the latest happenings in their respective companies.

Asia Gaming Brief will be live again in March 2022 with another edition of the ASEAN Gaming Summit in Manila. We may very well be the first to brave the industry events market in Asia and we’re confident that there is significant pent-up demand and enthusiasm to get together once again!

See you then, meanwhile, stay safe!

On behalf of Asia Gaming Brief

Rosalind Wade & Luis Pereira

CO-FOUNDERS