MGM China CEO Grant Bowie says he is optimistic for the company’s performance for the rest of the year, after seeing revenue up nearly 24 percent year-on-year in the first quarter.
Speaking to Macau TDM, Mr. Bowie said that the Macau gaming market will continue to remain strong, but stressed that operators should continue to enhance their offerings to attract customers.
“I’ve lived in Macau for so many years now, I am always confident. There are always ups and downs in the marketplace but we are very strong in Macau. We are still the largest gaming market in the world, and I think everybody in Macau should be very confident, but we also need to make sure that we continue to enhance our services so that we continue to attract our customers.”
Speaking about the government’s recent approval of MGM Cotai’s smoking lounges, Mr. Bowie said: “We still got more to come, there’s still obviously some for VIP areas. We’re progressively working through with the government and at this stage, we have in the order of a dozen lounges available.”
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
PUBG will not be able to return to India until at least March 21 as the company has been unable to secure a meeting with government officials to discuss the situation. The game, which previously was distributed in India by Tencent, was one of more than 100 apps banned on national security grounds due to their links to China.
Cyprus Casinos, the subsidiary of Melco Resorts & Entertainment, has announced that it will “temporarily suspend their operations according to the government directive” without providing further information.
Osaka Governor Hirofumi Yoshimura has indicated that his government will not make a final decision on its operator consortium partner until autumn 2021. At present, only the MGM-Orix consortium is an accepted bidder.
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.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.