Success Universe Group Limited deputy chairman Hoffman Ma Ho Man claimed 90 percent of the hotel rooms at Sofitel Macau at Ponte 16 were occupied during the Lunar New Year period, local media reports.
The chairman said that room rates during the holiday period dropped compared to previous years, and added the company will continue to set room rates cautiously.
He also commented that Ponte 16 received a good footfall from the mass market during the second and third day of CNY and perceives the city’s gaming industry has been stabilizing in the last three months.
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.
MGM Resorts has thrown its cards into the online gaming ring, with an attempt to buy U.K.-listed Entertain for GBP11.3 billion ($15.4 billion), which may reshape the group and reduce its focus on Asia in the longer term.
MGM Resorts has announced that Jonathan Halkyard will become Chief Financial Officer for the global gaming, hospitality, and entertainment organization. Halkyard is a senior corporate executive who spent 13 years in leadership roles at Caesars Entertainment and was more recently the President and Chief Executive Officer of Extended Stay America, Inc. and ESH Hospitality.
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.