IN FOCUS: Sustainability demand
Frederic Winckler says that Asians have been playing a dominant role in the luxury market for some time, although for years this has been partially disguised by the fact that many of their purchases—indeed about two-thirds—were made overseas in Europe, Japan, and elsewhere.
Macau will face the biggest test of the mantra “if you build it, they will come,” as Sands China’s $2 billion “The Londoner” gets set to open its doors after the worst year in modern records for the world’s largest gambling hub.
Sheldon Adelson, whose vision for gaming in Asia helped reshape the skylines of both Macau and Singapore, died in January at age 87, though analysts expect the company to continue with its commitment to the region.
Lower operating costs and a better business mix are likely to have helped the bottom line of Macau’s operators in the fourth quarter, despite continued low revenues, Morgan Stanley says.
Hope springs eternal in the minds of Tomakomai IR advocates. The answer delivered from the lips of Hokkaido Governor Naomichi Suzuki keeps coming back “no,” but what seems to be delivered to their ears is “maybe soon.”
INDUSTRY OPINION – Wai Ming Yap
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.