And we’re back! It’s been a busy few days for the Asian gaming industry, despite the Easter break and Ching Ming’s out-of-office celebrations which attracted some 28,000 tourists to Macau. For those wanting a quick summary of the major events over the weekend, be sure to check out our weekend wrap featuring news out of Macau, South Korea and Vietnam. Turning to the most recent news, Osaka’s attempt to bring some competition back into its IR development process has been unsuccessful, with MGM-Orix consortium remaining as the only contender to build an IR in the city. Meanwhile, Cambodia’s capital city could be extending its lockdown for another two weeks should the number of covid cases continue to rise. The city’s only casino, NagaWorld, has already been closed as of March without an indication of when it would reopen. Finally, we take a closer look at Resorts World Las Vegas, which remains on track to open this summer. The company says it has received strong local support and excitement about the opening from potential patrons.
First, the news
- Phnom Penh covid curfew could be extended
- IMF raises China economic forecast
- Ching Ming brings 28,000 tourists to Macau
- Deutsche Bank revises down Macau GGR forecast for Q2
- Macau March GGR up 14% vs February
- Galaxy seen as gaining mass-market share: Bernstein
- Australia, New Zealand travel bubble from April 19
- Osaka remains stuck with a single bidder
- Japan sets May 9th for consultation on casino rules
- Nagacorp says Q1 mass business continues to improve
- Weidner eyes Danang IR/ financial centre project
- Mohegan gets extension for Inspire Korea, tweaks biz plan
- Landing 2020 revenue down, but locals fuel H2 recovery
- IPI 2020 loss narrows, says it’s a going concern
- Morrison gets regulatory approval to join Crown board
What you need to know
Cambodia’s capital city could see a quieter than normal New Year festival if the number of covid cases continues to rise, according to government officials. Since April 1, Phnom Penh has imposed a night curfew to April 14 in order to curb the rising cases of covid-19 in the city. All gambling has been prohibited as well as any activity that would breach social distancing guidelines. Should the virus continue to spread, the curfew could be extended another two weeks, Phnom Penh governor Khuong Sreng said.
Genting’s $4.3 billion Resorts World Las Vegas remains on track to open this summer and says it has received strong local support and excitement about the opening from potential patrons. The resort will be the first new resort to be built on the Las Vegas Strip in more than a decade and property president Scott Sibella says that may give it the edge over neighbouring premises.
The Osaka government announced on Tuesday that its effort to briefly reopen its RFP process to additional IR consortiums, did not result in any new takers. Osaka Mayor Ichiro Matsui commented to reporters. “MGM has expressed its intention to continue the Osaka IR, even though it is extremely difficult to manage. We are able to respond in good faith as a partner.” While the Osaka government’s desire to bring some competition back into its IR development process is understandable, two reasons stand out for its inability to lure back any challengers.
For those of you just returning to your desks after the Easter break, it’s been a busy few days in terms of news in the Asian gaming industry, from a potential new mega project in Vietnam, to the latest on the impact of the Covid pandemic and more details about Japan’s casino regulation. But first, a look at the recent numbers out of Macau. Although gross gambling revenue figures for March showed an almost 14 percent improvement from the prior month, analysts at Deutsche Bank continue to trim back their forecasts for growth given the slow pace of recovery.
- Pragmatic Play launches Thor Megaways
- Gaming equities researcher David Bain joins B. Riley Securities
- Scientific Games unveils Mural cabinet
- Booongo portfolio goes live with Flow Gaming
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Traffgen Asia has long term contracts established at Wynn Resorts & Melco Resorts & Entertainment in Macau, Naga Corporation in Cambodia and the Widus Group in the Philippines, and is assisting over 10 different operating locations to enhance their businesses.