Recognizing that the Covid-19 pandemic may have exercised an important impact on IR development, Yokohama Mayor Fumiko Hayashi has indicated that her municipal administration would seek a dialogue on this issue with interested IR operators.
“The revitalization of tourism and the MICE industry is indispensable for the long-term advance of Yokohama’s economy,” Hayashi declared, “but shouldn’t we also be examining the direction of these businesses in the post-coronavirus era?”
Last month, the Yokohama city government indefinitely postponed publication of its own IR implementation policy due to uncertainty over the national government’s policies and timelines.
At present, Yokohama, Osaka, Wakayama, and Nagasaki have declared interest in bidding for the three available IR licenses. Tokyo and Aichi are considered to be potential late entries to the race.
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.
Analysts have turned more upbeat about the prospects for Malaysia’s gambling operators, despite a recent upswing in new Covid-19 cases, saying the sector is good value as stocks are still down between 15 to 26 percent on the prior year.
Frederic Jean-Marie Winckler, executive vice president and chief creative and brand officer of Melco Resorts & Entertainment, talks with Michael Penn, executive editor of AGB Nippon, about the future of the luxury market in Macau and beyond. Among the topics addressed are the growing importance of digitization and the direction of luxury trends within the premium mass segment.
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.