A unit of Global Gaming Asset Managers is suing Bloomberry Resorts Chairman Enrique Razon in a New York court, claiming he illegally terminated a management accord for the Solaire Resort & Casino and is hiding assets in the U.S. to avoid payment of an arbitration award.
The G2E Asia Online Expo & Conference will be held on May 25, according to an announcement released by the organizers. “This will serve as an engagement opportunity as the industry gets ready for an exciting return to Macau with the in-person event in August 2021,” the statement said.
Gross gambling revenue in Macau was up 14 percent from the prior month as visitation volume increased and was down 68 percent from pre-crisis levels in 2019, according to figures from the Gaming Inspection and Coordination Bureau (DICJ).
The world is bouncing back, or at least coming to grips with the fact that going forward not much will be the same as before. Commendably, this industry quickly understood the need to adapt to a new normal, and that the days of targeting the low hanging fruit of the VIP sector are gone.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing what 2020 may have had in store.