MEKONG IN THE MAKING

Pre-covid, the Mekong was experiencing the among the best growth levels in the region. Post-Covid? Still the case. Expectations might be curbed but not the enthusiasm. The pipeline is teeming with projects. Copious amounts of viability studies have been ordered throughout Vietnam in particular, but also Cambodia and, to a lesser extent, even for Laos. Myanmar is also seeing interest. We dedicate the focus of this October edition to opportunities around the region and efforts being made to make up for the current lack of international travel.

First we look at recent proposals in Vietnam that allow investment in infrastructure in designated economic zones to be counted when it comes to minimum capital requirements for integrated resorts. Crossing over to Cambodia, consultant Adam Steinberg, shares his views on the nation’s potential and the right business model for the market. We also examine how regional governments have been joining forces to focus on boosting the domestic tourism market towards filling the vacuum left by international visitors. Once travel in the Greater Mekong returns to pre-pandemic trends, the future looks bright for tourism and integrated resorts in this vibrant region of Asia.

Also in these pages of AGBriefings Magazine you’ll find the most relevant updates in key jurisdictions: Beijing is once again ramping up its anti-corruption rhetoric, which combined with an increased focus on capital outflows is likely to further hinder the industry’s recovery, analysts say. In the Philippines, regional casinos are likely to resume their outperformance once the global pandemic eases, infrastructure improves, and major projects come online. Even then operators are counting on the local market for base support.

Meanwhile in Russia, growth prospects fail to excite. Summit Ascent Holdings says it remains “cautiously optimistic” about the long-term future of the Far Eastern Gaming Zone but, given the political and economic instability in the country, it has begun looking for faster growth opportunities elsewhere. Down under, a pandora’s-box like debacle is brewing around Crown, and major shareholder James Packer. The operator might be pressed to jump a few hurdles to keep its coveted Sydney license as a suitability probe has unveiled a pattern of compliance breaches and lax corporate governance.

In close, a few surprises: the level of creativity and innovation shown by the industry never ceases to amaze. Find out how suppliers are pivoting their product range and services to adjust to the new realities.

On behalf of Asia Gaming Brief

Rosalind Wade & Luis Pereira

CO-FOUNDERS