REPORTS OF MACAU JUNKET DEATH EXAGGERATED!

The Macau gaming industry has been on a rollercoaster ride that doesn’t seem to end. After the disastrous announcement by the Gaming Inspection and Coordination Bureau (DICJ) in September last year, which wiped a quarter off the market value of shares in the Macau operators, the government has been endeavouring to repaint the canvas in broad, bold strokes to brighten up the picture.

So much so that after the announcement of the new gaming law draft earlier this month the industry took a collective sigh of relief. It was short lived.

In the focus section of the February edition of AGBriefings magazine, we bring you insights from the experts on the implications of the gaming law draft and its impact on the re-tendering of the gaming concessions - potentially, some time this year.

Alidad Tash notes that despite warnings that junkets were dead, they are still provided for in the law. The managing director of 2NT8 Ltd. also predicts that satellite casinos will also ultimately survive due to the priority given to local employment.

In the same vein, Carlos Simões, partner at DSL Lawyers, argues that while junkets aren’t dead, yet, they are on life support, and that the legal changes are the least of the industry’s problems.

Commenting on the proposed eradication of satellite casinos in an interview with AGB, Jay Chun, the head of the Macau Gaming Equipment Manufacturers Association, advocates that local casinos are still a good business model and if they are indeed shut down “there will be an impact” on the economy.

From a macro perspective, Integrated Resort Management Associate Professor Glenn McCartney MBE, writes that attention will soon be focused on the request for proposal process and ensuring the pitches are in line with the government’s clearly stated objectives.

In these pages you’ll also find the most relevant developments across Asia’s gaming jurisdictions:

Kicking off with the Philippines, which suffered among the most lengthy casino closures in Asia, Okada Manila seems to have found a silver lining as 4Q21 figures indicate that demand is still strong once restrictions are eased.

Across to Vietnam, where the potential for new regulation, coupled with favourable foreign investment trends, are creating a strong base for the country’s land-based industry.

Down under, Australia’s gaming industry moves into 2022 facing multiple headwinds, with rising Covid cases, staff shortages, and another expected round of regulatory scrutiny.

The Supplier Special Report rounds up the edition with the latest product releases from leading manufacturers and service providers from both the land-based and online spheres.

We had hoped to bring the industry together in March at the ASEAN Gaming Summit in Manila. Following consultation with stakeholders, AGB has decided to postpone the conference to July 2022, to give more time for travel restrictions to ease. Update your calendar, and watch this space.

This February edition also marks the 9th Anniversary of AGB’s print magazine. We’d like to take the opportunity to deeply thank all our readers and patrons for their continued support over the years.

On a parting note, the team at AGB wishes you a Healthy and Happy Chinese New Year of the Tiger!

Enjoy your reading and stay safe.

On behalf of Asia Gaming Brief

Rosalind Wade & Luis Pereira

CO-FOUNDERS