IN FOCUS: The year that changed the game
2020 in review: Don’t look back in anger
The December edition of our Focus section gathers views from industry figures on the key events of the past year and asks them to gaze into a crystal ball to divine what the year ahead may hold.
Positive shoots and lessons learned
As Macau celebrated the 20th anniversary since the handover to China last December, there was no indication of how the gambling hub’s fortunes were about to change so radically.
A year like no other for Asian gaming
At the conclusion of every year there are important industry events that need to be recapped, but there can be little doubt that even ten years, twenty years hence, 2020 will mark a dividing point in history between the pre-Covid and post-Covid eras.
JURISDICTIONS UPDATES
Macau mulls a future in finance
Macau Chief Executive Ho Iat Seng reaffirmed in his policy address
this week that “promoting an adequate economic diversification” remained a key objective and a key way forward will be developing a financial industry.
China’s racing industry faces high hurdles
In late September, the Chinese Ministry of Agriculture and Rural Affairs, together with the General Administration of Sports (GAD) revealed a five-year blueprint that would aim to expand and promote the country’s already mammoth horse-racing industry.
Local VIPs support Resorts World Genting
Behind the sea of red in Genting Malaysia’s Q3 results, analysts found reason for cheer in the performance of its domestic operations, which generated a positive EBITDA of RM541 million ($133 million) in the quarter.
Locals drive growth, but for how long?
Singapore’s two integrated resorts surprised analysts with the strength of their most recent results, despite higher entry fees for locals and a lack of international travel.
Crown at risk of “severe regulatory action”
A “heightened risk of severe regulatory action” has prompted Fitch Ratings to put Crown Resorts on credit watch negative for a potential ratings downgrade.
eSports racing ahead
India’s online gaming revenue is expected to jump by 45 percent this year as players turned to their mobiles during Covid-19 lockdowns, with esports one of the fast growing stars of the segment.
Moody’s cautious on Naga’s expansion plans
Nagacorp, the operator of Cambodia’s NagaWorld, has undoubtedly been one of Asia’s integrated resort success stories, though credit ratings agency Moody’s is now sounding a note of caution about its expansion plans.
INDUSTRY VIEWS
Jay Chun: Confidence in local government
The Macau Government is working hard on the new casino license process. including reviewing all aspects of the existing gaming laws and regulations, as the landscape of the gaming industry has greatly changed since the grant of the previous concession back in 2002.
Angel Sueiro: Longer-term focus comes to fore
This is the year that forced us to embrace uncertainty and a different understanding about how time perception has an influence on our behavior.
BBIN: Zero-touch economy created
The pandemic has swept the world like no one could have imagined in the year of 2020. This global crisis has put many businesses to an abrupt halt in Q1 and forced companies to develop new business models for survival.
David Green: The year that tarnished Crown Resorts
Crown has enjoyed a monopoly in both Victoria and Western Australia, which owes more to politics and history than it does to competence and good practice governance.
David Lawrence: Philippines positivity points to a brighter future
When we look back at 2020, regardless of business or geographical location, this has been a year of unprecedented disruption, whether personal or work related, to everyone’s way of life.
Danny Too: New norms and little luxuries
The pandemic that brought the world to a standstill, making people evaluate their priorities in life. It is a time when wearing a mask is a "norm" and being able to fly without going through a quarantine is a "luxury".
Dennis Andreaci: Impatience for normality
Very surprisingly, some very well managed small and mid-sized casinos have been able to focus on their local premium guests along with very reduced staffing and other costs (because most of the tables are closed and not needed).
Desmond Lam: Hopes high for Year of the Ox
It is interesting how fortune changes and predictions fail in the Year of the Rat. The year started with caution as COVID-19 outbreak began to wreak havoc in China.
Dominick Stenson: Adapting to Covid-19 challenges
The most notable event for me is the actual survival of many organizations given the unprecedented operating conditions of 2020, that's of course when the doors were not closed completely.
Jamie Nettleton: Regulatory shakeups likely in pipeline
It is not just COVID-19 and its effects for which 2020 will be remembered by the Australian gambling sector. The event likely to have the most long-lasting impact is the NSW Casino Inquiry.
Fred Gushin: Japan IR process needs to take decisive step forward
Efforts to authorize integrated resorts in Japan will continue, even as Japan is dealing with a change of government and a global pandemic.
Michael Maerz: “Emergency” content still in demand
It has been a really unique and indeed surprising year to say the least. When live sport ground to a halt earlier in the year, we lost 95 percent of our live sport feeds in a matter of days. That would have signaled logically some tough and challenging times for all in the sector.
Matt Ballesty: Looking for travel bubbles
New Zealand and Australia continue to outperform the world with management of the pandemic, and while it’s likely a travel bubble between the two countries will be the first major change in border restrictions, we expect it will come with a number of restrictions.
Peter Johns: Hard work to be rewarded in 2021
With all the trade shows cancelled and extensive travel bans enforced, it’s been almost impossible to show our customers the new product lines we’ve built this year.
Tim Shepherd: Vietnam growth to gain momentum
Looking into 2021 for hidden gems / growth stories in land based - outside major VIP IR projects - there are two types of market best poised to recover and succeed.
Sudhir H. Kalé: Startling stock reality gap
The most surprising phenomenon in 2020 for me was the elevated stock prices for casino companies. Overall, the stock market looks increasingly divorced from economic reality and nowhere is this phenomenon more pronounced than in the case of casino stocks.
Wolfgang G. Arlt: China neighbors seen as first port of 2021...
At the end of this annus horribilis, after so much hardship and so much obedience demonstrated by societies in lockdown around the world, we are all entitled to a nice Christmas present and the prospect of a better tomorrow.
INDUSTRY OPINION: Sudhir H. Kalé
Taking stock of the global casino industry
What does the immediate future hold for the global gaming industry? The five important developments that will shape industry fortunes in the opinion of Sudhir Kalé.
LAST WORD: Sharon Singleton
Will Live Shots be a game changer?
As we close our final magazine of the year, I’d rather not focus on the doom and gloom wrought by Covid-19 and will instead look at how the pandemic has been a key catalyst for change in the gaming industry.
UPCOMING EVENTS
TRENDING ARTICLES
Macau significantly tightens entry restrictions
Spooked by reports of a more infectious variant of Covid-19 emerging from the United Kingdom, the Macanese government is significantly tightening its entry restrictions, effective today.
South Korea casinos extend closures through the holidays
South Korea has lost control of its Covid-19 pandemic as never before, and this is triggering additional delays in casino reopenings.
Malaysia’s casinos to rebound faster than number operators: Kenanga
Kenanga Research expects Malaysia's casino operator to rebound more swiftly than its number forecast operators, as border restrictions ease. The sector valuation remains attractive as gaming stocks were still 15-26 percent cheaper than a year ago.
Asia Gaming Briefings – Dec 2020 Edition
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.
Asia Gaming Briefings – Nov 2020 Edition
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.
Asia Gaming Briefings – Oct 2020 Edition
Before the Covid-19 crisis, tourism in the Greater Mekong Sub-Region was at a record high, on track to welcome 80 million visitors in 2019, generating some $90 billion in revenue.