Bricks & Mortar

Melco Resorts & Entertainment was awarded 10 Michelin stars in the 2019 food guide for its Macau restaurants, which it says it a record number for any IR globally.

It’s unlikely that Japan’s Universal Entertainment will take over Genting Malaysia’s stalled theme park project, as it would likely cause cannibalization from their sister resort in Singapore, Maybank said in a note.

The Kansai Association of Corporate Executives has selected a new co-chairman, Hiroyuki Fukano, who immediately affirmed his support for Osaka’s 2025 World Expo as well as its IR bid at Yumeshima.

The prospects for economic growth in Asia have dimmed in recent months, says ratings agency Fitch, which has cut its forecasts for almost every country in the region.

Shares in Melco Resorts & Entertainment (Philippines) have been suspended from trading on the Philippine Stock Exchange after the public float dropped below minimum requirements as a result of a recent tender offer.

Macau’s gross gambling revenue is expected to gain between 8 and 10 percent in December over the same month a year ago, according to Bernstein Research.

Universal Entertainment released financial figures showing that casino revenues at Okada Manila reached a record-high PHP2.9 billion ($55.1 million) in November, combined with a record-high EBITDA of almost PHP528 million pesos ($10 million) during the same period.

Genting Singapore is facing increasing competition in the mass market from the Philippines and Cambodia, though management sees room for growth in VIP, according to Nomura.

Sega Sammy Holdings President and COO Haruki Satomi said his firm was aiming for the “top share” in any IR consortium to be built in the Tokyo-Yokohama region.

Yoshifumi Kato, president and CEO of Keihan Holdings, who announced last year that it was “his greatest mission” to connect by railway the anticipated IR at Yumeshima, Osaka, with Japan’s ancient capital of Kyoto, is seeing his vision come nearer reality, according to a recent article in the Nihon Keizai Shinbun.