The summer of 2015 will go down in the history books as a starkly turbulent period for China. The Asian powerhouse’s economy has stumbled, with trillions of dollars wiped off Chinese shares after a series of stomach-churning plunges.
Europe could be the beneficiary of Macau’s ongoing struggles as casino and junket operators eye investment opportunities on the continent in a process which has already seen Australia, Cambodia and Vietnam dramatically grow their gaming sectors.
SkyCity Entertainment, which operates six casinos in Australia and New Zealand, says it plans to focus on its business in New Zealand for future growth and isn’t looking at acquiring new properties in the increasingly competitive Australian market.
Echo Entertainment, which beat a consortium of Greenland and Crown Resorts to redevelop the Queen’s Wharf in Brisbane, says the gap between actual visitors to Australia and those who place the country at the top of their aspirational list shows the enormous potential for Asian tourism.
One of Vietnam’s largest casino projects has a new lead investor. Hong Kong conglomerate Chow Tai Fook has increased its stake in the long-delayed Nam Hoi An Casino Resort, buying up former lead shareholder VinaLand’s stake.