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Japan’s IR process lurches forward with Nagasaki selections, Osaka invite
Japan’s IR process appears to move forward in fits and starts, but there were two noteworthy events to emerge at the end of the week that advance the slow process towards the country’s first casinos. First, Nagasaki announced that it had narrowed the field in its search for a partner to three...
Yokohama IR pro and anti marshal their forces
This was a week in which those supporting and those opposing IR development in Yokohama marshaled their forces, organizing toward the decisive battle in August when the mayoral elections are scheduled to take place. The pro-IR administration of Mayor Fumiko Hayashi is using taxpayer money to...
Investors swoon over Nazara’s IPO
Shares in Indian mobile gaming firm Nazara Technologies were quickly snapped up by investors during its initial public offering (IPO) on Wednesday, which was reportedly oversubscribed within hours of opening. The company, which has invested more than $42 million in mobile gaming in just the last...
Macau operators to emerge more profitable than before: MS
The Macau casino operators are eventually seen as emerging more profitable from the Covid crisis as companies benefit from increased hotel capacity and lower costs. Morgan Stanley tells investors that the operators are likely to report EBITDA up 15 percent over 2019 by 2022. The firm noted that...
Nepal attracts hotel investors, new casino
Nepal has not lost its allure for international hotel groups, who recognize its potential as a playground for India, with at least two new arrivals announced in recent weeks. India’s Lemon Tree Hotels has reached an agreement to operate a hotel in Biratnagar, the country’s industrial capital....
More Covid setbacks for Asian jurisdictions
It’s not been a good week for anyone hoping for a faster opening of travel markets around Asia, with the Philippines, Cambodia and Hong Kong all reporting setbacks. The Philippine government has announced that it is banning the entry of foreigners from March 20 to April 19 after a surge in new...
Macau weekly GGR creeps 6% higher
Macau gross gambling revenue is creeping higher, but hopes for a near-term boost from a reopening with Hong Kong may have faded after a new cluster of Covid-19 the latter city. Macau’s average daily rate (ADR) of gambling revenue was about $34 million in the most recent week of March, up 6...
Macau officials lobby Beijing for greater travel opening
Senior Macau officials have been busy lobbying the Chinese government for a further easing of travel restrictions to enable more visitation to Macau during two key political gatherings in Beijing. The officials were in Beijing for the annual session of China’s rubber-stamp parliament the National...
Sharp fall in number of Macau gaming industry workers
In the final five months of 2020 there was a steep 86.6 percent fall in the number of new hires within Macau’s gaming industry. That meant that only 174 new employees were hired during the entire stretch. This information released by the Statistics and Census Bureau (DSEC) underlined the impact...
Online gambling outflow from Philippines seen as stabilizing
The outflow of online gambling operators from the Philippines is expected to slow, at least for the time being, following amendments to tax regulations and due to uncertainties in neighbouring jurisdictions. Taxation of Philippine Offshore Gaming Operators (POGOs) has become a politically...most popular
Projects
Feature
MoF reports on casino businesses’ financial losses
The first casino in Hoi An is about to open after 4 years of construction On June 28, Hoiana Phase 1 is ready to open its doors to customers to experience the first infrastructure. After 4 years of construction, the Hoiana complex project is expected to open to welcome the first guests at the...