Friday, November 27, 2020

Interview with Vicky Melbourne: Taking the regional credit pulse [video]

Vicky Melbourne, head of industrials, property and consumer for South Asia and Southeast Asia at Fitch Ratings, talks with Asia Gaming Brief managing editor Sharon Singleton about the impact of Covid-19 on the credit profile of the region’s operators.

Macau VIP sector losing further ground

There have been some positive reports this week, talking about optimism over Macau’s medium-term future, led by the premium mass and mass markets.

OTHER NEWS

Tomakomai city, which is still trying to gain Hokkaido Governor Naomichi Suzuki’s support to make an IR bid, has indicated that the city is willing in principle to bear the maintenance cost of roads, water, and sewage facilities.
Clark Development Corporation in partnership with PAGCOR, Widus Foundation, and Clark CSR Association recently donated packs and boxes of relief goods to nearby communities.
Far East Consortium reported its April-September results showing a net profit attributable to shareholders of HK$350 million (US$46 million), down by half in year-on-year terms. Revenue was HK$3.1 billion, a decrease of 39.2% compared to the same period the previous year.
Genting Malaysia recorded total revenues of over RM1.4 billion (US$354 million) in the third quarter of 2020, representing a 46 percent decline year-on-year. The group registered a net loss of RM726 million (US$182 million).
PAGCOR Chairman and CEO Andrea Domingo was the guest of honor in Pampanga at a construction launch ceremony for a 100-bed Overseas Filipino Workers (OFW) hospital project.
Understanding that the decisions on how IRs will be taxed in Japan is not an issue that can be left hanging, the senior ruling party politician Akira Amari has stated that these policies will be fixed before IR operators have been selected by the local governments. He later clarified that the policy would be decided next month.
Information from the Statistics and Census Service (DSEC) indicated that the number of MICE events held in the third quarter of 2020 increased by 25 quarter-to-quarter to 63; and the total number of participants and attendees jumped by 1,281 percent to 297,000. Nevertheless, the figures for MICE events and participants and attendees still recorded sharp decreases on a year-on-year basis.
Wynn Resorts hosted the 2020 Wynn Local SME Procurement Partnership Meeting and E-Commerce Forum this week in Macau, aiming to serve as a starting point for the digital transformation and upgrade of local small-and-medium-sized enterprises.
Century Entertainment International Holdings has reported to the Hong Kong Stock Exchange its financial results for the April-September 2020 period. In this six-month stretch, the firm had losses of approximately HK$6.2 million (US$800,000).
Shares in Ainsworth Game Technology fell 8.5 percent in Australian trading on Thursday after the company told investors that it expected to post a loss of about $15 million in the first half of the fiscal year, due to continuing difficult trading conditions.
Sands China President Wilfred Wong said the operator has been given a possible opening day in early February for the Londoner, formerly known as Sands Cotai Central. Wong didn't give a specific date.
The fallout from the inquiry into Crown Resorts' suitability to hold a license in Sydney may have ramifications for the entire industry in Australia, including tighter regulation, Fitch Ratings said in its 2021 outlook.
Genting Malaysia's Resorts World Genting said one of its security workers has tested positive for Covid-19 during routine health screening protocols. The company said the worker is receiving treatment at a government hospital and did not interact with guests.
The Nagasaki Prefectural Government has published a revised timeline for IR development, including the launch of its RFP process in January.
The Primorye Development Corporation is interested in attracting investors who can enter the region with interesting projects. The main objective is to create an attractive infrastructure for tourism and recreation that can complement the existing gambling operations.
A group of workers from Turkey have filed the latest lawsuit against Imperial Pacific International, this time on accusations that the company lured them to Saipan on various false promises about their working conditions.

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