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The world is bouncing back, or at least coming to grips with the fact that going forward not much will be the same as before. Commendably, this industry quickly understood the need to adapt to a new normal, and that the days of targeting the low hanging fruit of the VIP sector are gone.
The revenues of local governments in South Korea are being heavily impacted by the long-term suspension of operations at Kangwon Land, triggered by the Covid-19 pandemic, as well as a running dispute over the calculation of how much money the resort is obligated to pay to the abandoned mine fund.
The Coronavirus, now renamed as Covid-19, has devastated the near-term outlook for Asia’s casino operators, though analysts still expect demand to snap back sharply once the outbreak is under control. The big question is when that might be.
Banning online gambling in the Philippines would have little impact on the economy, the country’s central bank governor has said, adding he would prefer the firms to leave the country.
The global gaming supplier industry generated a total economic impact of $55.8 billion in 2018, supporting more than 202,000 employees both directly and indirectly, according to a new report released by the Association of Gaming Equipment Manufacturers (AGEM).