As speculation about the introduction of the digital yuan in Macau increases, the focus is beginning to switch away from the negative impact on the junket industry and VIPs to the immense potential an e-currency may offer for the mass market.
VIP play had been projected to be a major segment of the potential overall Japanese gaming market, but a lot has changed since the law permitting integrated resorts was passed in 2018.
Outside of the global pandemic, the trade war between Australia and China is casting another dark shadow over Australia’s already-strained VIP gaming industry, prompting operators to start looking elsewhere for recovery.
Macau's Gaming Inspection and Coordination Bureau (DICJ) has published an updated list of licensed junket operators, showing a reduction in 10 from January to 85. The list includes companies and single agents.
Gambling on pent-up demand and hopes that the big rollers would return, analysts at J.P. Morgan made a bet on the gambling capital of the world. They are now cutting their losses.
Genting Malaysia has seen reasonable growth in visitation since it began reopening on June 15 and Resorts World Genting has doubled its number of available rooms, according a research report from CGS-CIMB.
It’s difficult to enter a tourist hotspot in Asia without observing signs written in Chinese, or a street vendor shouting greetings in Mandarin - a testament to the influence of Chinese outbound tourism.
There’s no doubt that the integrated resorts springing up across Asia were targeted at China’s VIPs, but with that market in retreat there’s little sign of high rollers from other jurisdictions stepping up to take their place.
Southshore Holdings says it has reached an accord to sell 40 percent of the company that owns Macau luxury hotel The 13 for HK$750 million ($95.6 million).
Tasmanian MP Andrew Wilkie plans to call for a royal commission inquiry into Crown Resorts after a second whistleblower claimed the company is helping VIPs to bypass customs.