In recent years two companies, Donaco International and Silver Heritage, listed on the Australian Securities Exchange with the high ambition to crack the Asian casino market. However, as the new decade begins, both of these firms face deep crises. To what extent did they fail in the face of common challenges?
In Asia Gaming Brief’s investigation of this question, it became clear that we needed to grant our various sources anonymity, as there is a widespread perception that future litigation could yet arise in one or both cases.
Donaco International listed on the ASX in February 2013 and Silver Heritage followed considerably later, in August 2016. Both firms began with strong business connections in Vietnam, the Lao Cai International Hotel (later the Aristo International Hotel) in the case of Donaco and the Phoenix International Club in Bac Ninh in the case of Silver Heritage.
While the problems that beset Donaco and Silver...
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.
Covid-19 forced the rapid and unexpected closure of venues across Australia, changing the operating environment with unprecedented speed and leaving managers scrambling to adapt...
Lio Chi Chong has been appointed as the new Gaming Inspection and Coordination Bureau (DICJ) Deputy Director for a one year term, starting on February 3, 2021.
Sixteen Turkish nationals who are former workers of Imperial Pacific International, whose H-2B visas have already expired, have left the CNMI, even though the firm still owes them five months’ back pay.
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.
