Good Morning. The two remaining bidders for a casino license in Japan have just filed their petitions to the central government in Tokyo. It was a disappointing end to the first round of competition for what had been expected to be one of the world’s most hotly sought-after gambling permits. In today’s podcast, Brendan Bussmann, managing partner of B Global, tells us that there’s no guarantee that both of the remaining candidates will pull through either. He also discusses potential for Thailand, recovery prospects around Asia and the problems facing Macau.
What you need to know
- The NUSTAR Resort & Casino opened at the weekend on Cebu island in the Philippines, becoming the first integrated resort for the popular holiday destination.
- Asian American Entertainment Corp. has requested a 30-day extension for the deadline to file an appeal in its multi-billion dollar breach of contract lawsuit against Las Vegas Sands.
- SkyCity Entertainment on Tuesday advised it has secured a number of debt covenant waivers as a contingency in the event that the pandemic causes further disruptions in the near-term.
On the radar
- Macau suspicious transaction reports rise 10.1% in 1Q22.
- LRWC revamps BingoPlus brand months after launching online bingo.
What the papers say
- Philippines presidential elections pointing to landslide for Marcos.
The deadline for bids for one of Japan’s three casino licenses passed at the end of April, with only two bidders moving forward and little of the star power that had been anticipated at the beginning of the process. In this week’s podcast, Brendan Bussmann, managing partner of B Global, discusses what might be the next steps and whether the two remaining bidders are guaranteed to win the prize. He also discusses the potential for integrated resorts in Thailand, which Asian markets are recovering well from Covid and whether Macau has the potential to return to its pre-Covid highs.
- SJM Resorts unveils cooperation program with Macau SMEs.