Good morning. South Korea’s foreigner-only casino sector is struggling after almost two years of no tourists, with properties on Jeju island now at crisis point. Authorities are discussing options to help the sector and preserve jobs, including a proposal to allow South Koreans from other areas of the country to play in the casinos, Felix Lee, a senior associate with IGamiX Management & Consulting tells us.
What you need to know
- Macau’s gaming market won’t see a full recovery until at least 2023 and may potentially take until 2025 to rebound, suppliers said.
- Macau’s gaming operators continue to be optimistic about Macau’s medium and long-term future but have highlighted cost control, maintaining staff, and Macau’s low vaccination rates as near-term challenges.
- Asia’s operators are likely to be competing for South Korean tourists in the likely absence of Chinese travelers in the next few years, says Lloyd Robson, Aristocrat’s general manager, Asia.
- Public policy in Macau is too rigid and as a result, the city’s giant gaming industry is lagging in innovation, said Wang Changbin, director of the Centre for Gaming and Tourism Studies.
- Aristocrat Leisure said it saw an 81 percent increase in net profit after tax for the year ended Sept 30, 2021, on strong ANZ and North American performance.
On the radar
- PAGCOR warns against accepting bets on eSabong from overseas.
- AMLC has added its third POGO to its list of uncooperative covered persons.
- Evolution stock tanks on accusation of illegal bet taking from HK, Singapore.
- Macau has reduced foreign worker permits by 25,000 since 2019.
- Tabcorp gets a warning from ACMA for breaching in-play betting laws.
What the papers say
- Three women rescued from online gambling operations in Cambodia.
- Phu Quoc to welcome first intl travelers on Nov. 20.
- Russia has resumed flights to more than 60 countries to date.
South Korea’s foreigner-only casino industry has been hit hard by the Covid crisis and authorities are struggling to find solutions to help, including a potential limited opening to locals playing on Jeju island. Felix Lee, the Korea-based senior associate at IGamiX Management & Consulting, said a comprehensive plan for casinos on Jeju Island, which is being reviewed by the government, reportedly includes a proposal that would allow Korean tourists from elsewhere on the peninsula into the casinos. However, it would not permit island locals to gamble.
- Pragmatic Play launches new Live Casino product.