It may not be the V-shaped recovery that was hoped for and expected earlier in the year, but Morgan Stanley is the latest major firm offering a bullish analysis on Macau and seeing brightening prospects for the immediate future. The key issue going forward remains that of visa processing in mainland China. Meanwhile, the current economic situation remains grim in some of the regional markets, but Jeju Island in South Korea is at least using the opportunity to fundamentally rethink its casino industry strategies, including a proposal to make the island into an online gambling hub. We also offer our latest podcast, this time with Darang Candra, director of Southeast Asia for Niko Partners, discussing what this most unusual year has meant for the Asian esports industry.
First, the news
- Macau prospects bright, but visa issuance continues to drag
- Macau October visitor arrivals up 30%, length of stay rises
- Air Macau expected to receive additional capital injection from government
- Macau 3Q retail sales decline 50.7%
- Macau gaming sector sheds 381 full-time jobs in H1
- Macau lawmaker urges increased hiring of local workers
- Levo Chan boosts stake in Macau Legend to over 33%
- Jeju debates measures to boost its casino industry
- Grand Korea Leisure expects US$4.6 million loss from Seoul casino closures
- IPI cleared to resume construction of Saipan casino hotel
- CNMI casino commission concerned about impact of China blacklist
- Goa seeks to move casino offices to river jetty
- NZ Gaming Association says reporting of gambling figures misleading
- Star wins global sustainability award
What you need to know
The indicators are lining up and pointing to a positive future for Macau. However, without the improvement of visa processing in China, the recovery is likely to continue at its current steady pace. Morgan Stanley is the latest major firm to offer its analysis on the medium-term prospects for Macau and says that it remains “bullish.” It cites strength in luxury spending in China and restricted travel options for the Mainland as boding well for Macau.
A seminar held at the Jeju Tourism Organization building offered a debate and a rich discussion about the best means of boosting the island’s casino industry, both in relation to the Covid-19 pandemic and in the face of its long-term challenges. This included the notion of allowing Jeju to become a hub for online gambling. In regard to the latter, one of the panelists, Professor Moon Seong-Jong of Cheju Halla University, pointed to policy changes in the Philippines, suggesting that Jeju too should consider allowing land-based casinos to develop online systems for registered VIP customers which would exclusively cater to non-Koreans.
Darang Candra, director of Southeast Asia for Niko Partners speaks with Asia Gaming Brief asia editor Felix Ng about interesting trends seen across esports, PC, and mobile gaming in 2020 – with insights drawn from their 2020 Asia Games Market Report. In this podcast, Darang describes covid-19’s impact on esports as a “double-edged sword”. On one hand, viewership for esports tournaments has exploded, yet sponsorship revenue and prize pools have fallen.
In early July, the Mazhilis of the Parliament of Kazakhstan made amendments to the current gambling law. The changes will affect the conduct of offline business and may significantly reduce the revenues to the state budget from bookmakers. According to the new rules, betting points can now be placed exclusively in gambling zones. And, this will mean a reduction in the number of points, together with fewer jobs and payments to the state treasury, says 1XBet.
Aristocrat has introduced Aristocrat Assist – a global program designed to help its customers through the journey to recovery. This program was designed to expedite the business rebound of Aristocrat’s customers, helping to ensure swift business continuity so they were ready to reopen their doors.
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