The increased clarity regarding the terms of IR regulation in Japan following the ruling coalition compromises is also throwing light on which institutions are now advantaged and which are disadvantaged in the race for licenses.
Seth Sulkin, head of the American Chamber of Commerce in Japan’s task force on IRs, describes the outcome to Asia Gaming Brief as “a major victory for the major casino operators and large Japanese cities.”
The ruling coalition’s decision to stick with the 3 percent casino floor area rule while at the same time removing any absolute ceiling favors large urban IRs and simultaneously disadvantages the regional initiatives. Sulkin puts it starkly: “The 3 percent rule is bad news for small, regional cities hoping to lure an IR. I don’t see how it will be economically viable to cope with this rule in any place other than Osaka, Yokohama, or Tokyo.”
Jane Tsai, CEO of JCT Holdings,...
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.
Analysts have turned more upbeat about the prospects for Malaysia’s gambling operators, despite a recent upswing in new Covid-19 cases, saying the sector is good value as stocks are still down between 15 to 26 percent on the prior year.
Frederic Jean-Marie Winckler, executive vice president and chief creative and brand officer of Melco Resorts & Entertainment, talks with Michael Penn, executive editor of AGB Nippon, about the future of the luxury market in Macau and beyond. Among the topics addressed are the growing importance of digitization and the direction of luxury trends within the premium mass segment.
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.