The multi-billion properties opening up on Macau’s Cotai strip are still likely to be viable, despite the slump in gaming revenue in the territory, though returns will fall far short of the levels expected when the resorts were first planned, analysts say.
This year, Wynn Resorts is scheduled to open its $4.1 billion Wynn Palace in June, while Las Vegas Sands will debut its $2.6 billion Parisian property in Q4. MGM Resorts is also scheduled to open the doors to its $3.1 billion MGM Cotai towards the end of the year, while smaller openings are expected from Macau Legend with its Legend Palace property.
In late 2017, SJM Holdings will launch its $3.87 billion Lisboa Palace resort, while in the first half of the year, Melco Crown is scheduled to open the fifth tower at its City of Dreams property with an $800 million price tag.
The new additions will be adding...
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.
On 3 April 2020, the Ministry of Home Affairs of Singapore (MHA) announced that it will be reconstituting the Casino Regulatory Authority (CRA) to establish the Gambling Regulatory Authority (GRA) by 2021. The GRA will have an expanded mandate to regulate the entire gambling landscape in Singapore and aims to consolidate and optimize gambling regulatory resources within a single agency.
The Macau Civil Servants Association has urged Chief Executive Ho Iat Sent to encourage the other five gaming operators to follow SJM Holdings in providing a "reward" to employees early in the New Year.
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.