Good Morning. Rethink the paradigm. That’s what operators in Vietnam must do to keep up. Expert Ben Lee notes in this week’s Under the Scope that China’s restrictions are causing a shift away from VIP but operators are struggling to capture both mass and high-rollers from Southeast Asia. However, Korean play remains strong. Meanwhile, Fitch has upgraded its outlook for the Philippines, seeing a path to mid-term growth, supported by a return of VIP play and continued strength in mass.
What you need to know
- Under the Scope: Ben Lee notes that Vietnam operators are shifting their model, moving away from VIP, while still cozying up to Korean punters.
- Fitch upgrades its outlook on the Philippine economy to ‘stable’, citing a path to mid-term growth as VIP play returns and mass maintains strength.
On the radar
- Jeju Dream Tower casino revenue rises 2 percent m-o-m in September.
- Weaker-than-expected Golden Week data disappoint Chinese authorities.
- Sportradar selected as supplier of Taiwan’s Sports Lottery.
- Queensland pubs and clubs revenue down slightly in September.
- Resorts World Cruises switches out Japan for Vietnam and PH.
- Chinese authorities tackle more than 6,800 illegal online gambling cases.
Gaming operators in Vietnam are aiming to rethink their business models, to shift away from VIP, as limitations by China have caused a reduction in players. While cozying up to Korean punters, operators are hard-pressed to get more mass or VIP from Southeast Asia, even as political changes cause speculation and delays for both current operators and those looking to enter the market. Meanwhile, Indian tourists flock in, but aren’t spending much – least of all on the casino floor.
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