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Analysis

Inside Asian Gaming CEO Provides Insight into the Dynamics of the Gaming Industry in Asia-Pacific

Monday 06 de May 2024 / 12:00

2 minutos de lectura

(Macau).- “From the Desk Of…” is a series from the G2E Insider written by G2E community members to share their knowledge with the wider gaming industry. Andrew Scott, Vice Chairman and CEO of Inside Asian Gaming breaks down what’s happening across the Asia-Pacific gaming market including updates from Macau, Japan, the Philippines, and more.

Inside Asian Gaming CEO Provides Insight into the Dynamics of the Gaming Industry in Asia-Pacific

As I sit here at my desk in Macau, I marvel at what a fascinating time it is for the gaming industry in the Asia-Pacific region. Just about every major jurisdiction is booming and there is never a dull moment.

The COVID-19 pandemic played a big role in all this. China – and by extension Macau – shut itself down for longer than just about any place in the world: three full years. After finally reopening in January 2023, Macau has been seeing crowds similar to before the pandemic.  It’s a new Macau, for many reasons. First, new decade-long concessions have been granted by the government from 2023 to 2032, with an imperative to focus on non-gaming. Second, junkets are gone, along with many of the problems they brought. Third, Macau’s six gaming operator companies have re-invented themselves post-COVID, with leaner operations. Working smarter, not harder.

The absence of junkets sees Macau “only” printing around $2.4 billion USD gross gaming revenue (GGR) a month, compared to $3.75 billion USD at Macau’s peak in 2013, but leaner operations and higher (non-junket) margins means earnings are as high as ever.

The Philippines has also emerged as the clear number two market in Asia. Under the leadership of PAGCOR Chairman Alejandro Tengco and President Ferdinand Marcos Jr, the market is pro-business and expanding fast. GGR was back over $5 billion USD in 2023 with the potential of reaching $10 billion USD by 2027. Investors are active, with new properties popping up all. Plus, the Philippines is the home of iGaming in Asia, with PAGCOR vigorously working to clean up its offshore gaming industry, which historically has had a very dubious reputation.

The Singapore duopoly of Marina Bay Sands and Resorts World Sentosa are similarly booming, so much so that both properties have committed to major investment programs of around $5 billion USD each.

Another exciting development this year has been the long-anticipated March opening of Mohegan’s $1.6 billion USD INSPIRE Entertainment Resort, right next to Incheon airport, about an hour’s drive from the heart of Seoul, South Korea.

Even Japan has finally settled on a single integrated resort (IR) in Osaka, to be owned and operated by MGM with local partner Orix, and a group of smaller partners. Slated to open in 2030, no other Japanese city has been able to reach this stage.  

And we can’t forget Australia, where years of bad behavior has led to the country’s two biggest operators – Melbourne-based Crown Resorts and Sydney-based Star Entertainment – losing their gaming licenses but both being allowed to continue operations, each under the watchful eye of the government. The good news is that after two years and hundreds of millions of dollars spent on remediation efforts – AU$750 million – Crown just won its license back. Unfortunately, Star Entertainment is still trying to pick up the pieces, with its CEO recently resigning.

But possibly the hottest news of all is happening in Thailand, where the government seems determined to create an IR industry at long last. The country’s House of Representatives approved a second study recommending the development of a legal casino industry, with the plan now to be forwarded to cabinet for final approval, which appears to be a foregone conclusion.

There’s never a dull moment in the Asia-Pac gaming market and I look forward to seeing continued growth. For much more on the industry in APAC, visit asgam.com.

Categoría:Analysis

Tags: Sin tags

País: Macao

Región: Asia

Event

PGS, Perú Gaming Show 2024

12 de June 2024

Gambling regulation in Peru: evolution towards stability and legal certainty

(Lima, Exclusive SoloAzar) - From the repeal of the 20% tax by the Constitutional Court to the implementation of the Reorganisation and Formalisation Law, the regulation of gambling in Peru has undergone multiple changes. In this article, SoloAzar summarises the presentation by Dr. Constante Traverso, lawyer and head of APEJA, during the PGS, who underlines the need for a stable and fair public policy.

Wednesday 19 Jun 2024 / 12:00

Win Systems concludes a successful participation in Peru Gaming Show 2024

(Barcelona).- Win Systems, a leading technology provider for the gaming and entertainment industry, celebrates a successful participation in the recent edition of the Peru Gaming Show (PGS), which took place on June 12th and 13th at the Jockey Convention Center in Lima, Peru. The event was a perfect platform to showcase the company’s innovative solutions and cutting-edge products, specifically designed for the Peruvian market.

Wednesday 19 Jun 2024 / 12:00

The impact of AI on marketing campaigns, a featured topic at PGS 2024 conferences

(Lima, SoloAzar Exclusive).- Rony Vexelman, Marketing Manager of Optimove, presented the conference “Maximizing AI, the evolution of roles in iGaming”, within PGS event, held last week in Peru. From SoloAzar we share the highlights of the talk that shows how AI impacts online gaming and sports betting marketing campaigns.

Tuesday 18 Jun 2024 / 12:00

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