Good morning,
For the first time in many months, a major new IR has opened its doors in Macau. The long-awaited Londoner, which Sands executives described as “an instant landmark” kicks off the year 2021 with some positive news. This morning we also discuss some new developments in Jeju, South Korea, where local ordinances may soon require the eight local casinos to commit to enhanced community contributions. Finally, our podcast series returns, this time featuring Mario Hardy, CEO of the Asia Pacific Travel Association (PATA), who talks with Asia Gaming Brief Managing Editor Sharon Singleton about his organization’s forecasts for tourism recovery in Asia.
First, the news
- Macau February GGR down from January levels
- Melco gets four Macau energy savings awards
- Jeju may call for casinos to upgrade community contributions
- Bergin report on Crown due to be published February 9
- POGO tax bill passes lower house
- Moves in India to legally recognize esports as sports events
- Universal donates anti-coronavirus device to the Philippines
- Tinian casino commissioners’ salary slashed
- IPI workers begin returning to Turkey with five months’ salary unpaid
- Hong Kong police arrest 81 in triad-linked gambling busts
- Wynn Resorts to raise funds through 5.5 million stock issue
- 500 com full-year losses at US$29.2 million
- Yokohama begins online IR briefing sessions
What you need to know
Sands says Londoner to become instant icon
Sands China opened its $1.9 billion “The Londoner” on Monday, providing a vote of confidence in the Macau market’s recovery. In an opening ceremony, Sands China President Wilfred Wong paid tribute to company Chairman and CEO Sheldon Adelson who died last month and whose vision transformed Macau’s Cotai strip. He also said he believed the Londoner would become another icon for the gambling hub. “Like The Venetian and The Parisian before it, The Londoner Macao will become an instant landmark on Cotai, with unmistakable design features like the Houses of Parliament and the 96-metre-tall Big Ben,” he said.
Jeju may call for casinos to upgrade community contributions
The eight casinos on Jeju island, South Korea, may soon be required to enhance their contributions to the local community as concerns have risen about their possible negative impacts on the region. On Monday, Representative Kim Hwang-Guk of the Jeju-do Council’s Culture, Tourism and Sports Committee announced that he is planning to propose a partial amendment to the ordinance on the management and supervision of the Jeju-do casino business that will require such contributions. His initiative has eight co-sponsors.
Insights
PODCAST
PATA CEO talks about Asia’s slow travel recovery
Dr Mario Hardy, CEO of the Asia Pacific Travel Association (PATA) talks with Asia Gaming Brief Managing Editor Sharon Singleton about his organization’s forecasts for tourism recovery in Asia. While at present, he sees the recovery at the medium to severe level of a three-stage scenario, there are bright spots, such as domestic tourism spending in the Philippines.
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