IN FOCUS: The year that changed the game
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.
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.
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.
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.
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.
Efforts to authorize integrated resorts in Japan will continue, even as Japan is dealing with a change of government and a global pandemic.
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.
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.
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.
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.