Good Morning. Most countries around Asia are starting to open their borders to kick-start international tourism as they learn to live with the virus. The conspicuous stand-out is of course China, which is doggedly sticking with its zero-Covid policy, meaning that the integrated resorts that were designed to cater for this segment will be reopening without a key sector of their clientele. To kick off the week, Andrew Klebanow, founder and senior adviser at C3 Gaming takes us around the main casino jurisdictions in Asia to evaluate the main winners and losers and what they can do to mitigate the impact.
What you need to know
- Stock market investors may be overlooking the possibility of a widespread Covid outbreak in China, which may damage the already slowing economy, Bernstein notes.
- Manila, along with 38 other areas in the country are set to move down to Alert Level 1 from March 1 to 15, the lowest Covid-19 restriction level.
- RGB International swung to profit in 4Q21, and says it foresees a relatively stronger recovery in the gaming market in 2022 compared to the prior year period.
- Macau’s chief executive on Friday said that the government will be standing firm on its existing Covid-19 policies and guidelines.
On the radar
- Okura Holdings swings to interim loss on impairments, but revenue stable.
- Macau retail sales surge 63.5 percent in 2021, approaching pre-Covid levels.
- Macau 4Q21 MICE events up 92% on the prior quarter.
- Quang Nam, home to Hoiana, targets 4.2m visitors in 2022.
What the papers say
- Hong Kong police arrest 22 in raid on illegal gambling den.
China’s Zero Covid policy will continue to impact casinos throughout East Asia even after borders re-open. Faced with a mandatory quarantine period of 14 to 28 days upon return from a foreign country, residents of the PRC and Macau are not expected to be part of the mix of international travelers for the foreseeable future.The question becomes, which gaming jurisdictions can survive and prosper without the return of Chinese gamblers? A country by country examination reveals that there will be winners, survivors and losers among the region’s casino jurisdictions.
- SJM sponsors the Macau Design Awards ceremony at Grand Lisboa Palace.
- Regulating the Game kicks off in one week.
- Melco gives paid leave for staff to help children, elderly get vaccinated.