Good Morning. Macau is in the pole position for the post pandemic recovery in the Asia tourism and gaming sector, thanks to pent-up demand in the Chinese outbound tourism market. At least, that’s the view of gaming and hospitality industry veteran, Brett Model, who also paints a similar rosy picture for the UAE’s future. Meanwhile, senator Francis Escudero has warned there could be a general tax hike if a complete ban on Philippine offshore gaming operators is enforced, in order to cover for lost tax revenue.
What you need to know
- Macau will ride the wave of the post pandemic Chinese outbound tourism market to lead the recovery in Asia.
- POGOs ban would incur general tax hike: PH senator.
On the radar
- Macau’s tourism recovered to 80 percent of 2019 levels in July: MGTO.
- Kangwon Land ended the second quarter of this year with a 12 percent quarterly drop in net profits.
- Macau airport passenger volume already at 60 percent of pre-pandemic levels.
Gaming and hospitality industry veteran Brett Model, points to a bright future for the SAR’s gaming and tourism sectors, thanks to pent-up demand still existing in the Chinese outbound tourism market. The industry insider believes new challengers, such as Osaka and the UAE, still have a long way to go to really challenge the city, considering the “millions of people in China, they can literally walk over the border”.