Gaming industry veteran David Green sits down the AGB Nippon Executive Editor Michael Penn to discuss the Bergin inquiry in New South Wales, Australia. At issue in the narrow sense is Crown Resorts’ fitness to gain a casino license for its newly-opened Crown Sydney tower.
However, during the course of the inquiry held late last year, and whole series of damaging, indeed devastating revelations about Crown Resorts and its management practices emerged into public view. As Green explains ahead of Bergin’s findings and recommendations, the stakes have now grown considerably, and what is at risk is not only Crown’s position in New South Wales, but also its position in Victoria and beyond.
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
Macau Gross gambling revenue (GGR) in March is expected to be down in the low to mid-sixties percent from the same month last year, though visitation is expected to improve in Spring and travel with Hong Kong may resume from Q2, Bernstein Research said in a note.
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.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.