Genting Bhd Chairman Lim Kok Thay says he expects global economic conditions to continue to recover and said the group will assess any business opportunities that arise that could complement existing operations or provide new growth.
In his letter to shareholders in the group’s annual report, he also said Genting will continue to take proactive measures to improve productivity and efficiency.
Although he says there have been signs of nascent recovery in the regional gaming markets, the outlook remains highly uncertain. The company has casino operations in Malaysia, Singapore, the U.S., U.K., Cairo and the Bahamas and is seeking a license in Japan.
Twelve people are facing charges over allegedly running an illegal online gambling operation out of a Bangkok home. Police say they found evidence that the group was running the gambling operation on several different websites under the name of NUTSGAME-TH.
The New South Wales Independent Liquor and Gaming Authority said it may be willing to roll over Crown Resorts' liquor license on a monthly basis while regulators deliberate whether it can regain suitability for its casino license.
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.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing what 2020 may have had in store.