Cambodia’s gaming industry has taken a major knock from the Covid-19 crisis and last year’s ban on online gaming, but those on the ground are optimistic it will bounce back stronger than ever.
The country had been one of the most rapidly expanding jurisdictions in Asia, with about 118 properties in operation at the end of the year, with most centered on the southern coastal town of Sihanoukville.
The economy expanded by 7 percent last year, helped by Chinese investment as part of Beijing’s “one belt, one road” project, providing a strong visitor base for its casinos. It’s expected to contract by 0.3 percent this year, before rebounding 6 percent next, according to Moody’s Investors Service.
However, rampant growth, rising crime and pressure from Beijing caused Prime Minister Hun Sen to pull the plug on online operations, raising questions about the viability of many land-based casinos, which were essentially little more than...
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.
The Yokohama City Council has begun its deliberations on whether or not to hold a popular referendum on IR development. Despite gaining more than three times the needed number of resident signatures, Mayor Fumiko Hayashi has asked that the referendum be rejected.
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.