International Entertainment has issued a profit warning to the Hong Kong Stock Exchange, expecting to record a loss from continuing operations of not more than HK$95 million (US$12.3 million) for the six months ending December 2020. This is attributed to the substantial decrease in the number of tourists and other Covid-related issues in the Philippines.
FBM has been developing its slots offer over the last three years, with operations established in Europe and North America. The company is now accelerating its slots expansion campaign in Asia
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.
Heads have begun to roll at Crown Resorts, a day after a bombshell report found it was unsuitable to hold a Sydney license, with regulators warning the company will need to “blow itself up” to regain suitability.
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.
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.
