There’s no doubt that the majority of the integrated resorts springing up across Asia were developed with the expectation of attracting China’s VIPs, but with that market in retreat there’s little sign of high rollers from other jurisdictions stepping up to take their place.
This conundrum has left some questioning whether the VIP segment of the market has become oversaturated and how quickly operators will be able to adjust their offering.
The U.S./China trade war has taken its toll on the Mainland economy, which grew at its slowest pace in almost 30 years in the third quarter. That in turn is feeding through into gross gaming revenue across the region, with GGR in Macau down 4 percent in Q3, pulled down by a more than 22 percent drop in VIP trade.
In forecasting flat to low single-digit growth in Macau’s gaming sector this year, Fitch Ratings warned of oversaturation in Asia’s broader...
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 Gaming Inspection and Coordination Bureau (DICJ) says its deputy director Leong Man Ion will step down from Jan. 7th at his own request. He will return to his prior position as a DICJ senior technical advisor.
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.