Jennifer Song, equity analyst with Morningstar, speaks with Asia Gaming Brief managing editor Sharon Singleton about visitation to Macau during the recent Chinese New Year period and the outlook for recovery. The longer-than-usual May holiday may be a key catalyst for growth.
Asia Pioneer Entertainment has announced that, based on a preliminary review of the unaudited consolidated management accounts results for the year ended December 2020, the group expects to record a loss before tax of approximately HK$32.0 million (US$4.2 million).
Vietnam's Vingroup said it will open its $2.8 billion 24-hour entertainment complex on Phu Quoc island on April 21, with a view to creating a "new international destination in Asia." Phu Quoc is home to the only casino where locals are permitted to gamble.
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.