While the gaming industry is focused on tourism numbers and movement restrictions, there are a number of shifting economic and social patterns emerging that could have longer-term implications for Asia’s integrated resort industry.
Macau law firm MdME Lawyers has created a digital transformation team to help its clients, including integrated resorts, adapt to new technology. The team will be led by recently appointed Victoria White, a former executive at Marina Bay Sands and Sands China.
Macau is set to face its biggest test of the mantra “if you build it, they will come,” as Sands China’s $2 billion “The Londoner” gets set to open its doors after the worst year in modern records for the world’s largest gambling hub.
As Japan sinks into a deeper crisis over the Covid-19 pandemic, it would be natural that it might be overlooked. Indeed, the sensitivity of Japanese policymakers to overseas developments is often tenuous at best. But for the future of Japanese IRs generally—and for Osaka most specifically—stakeholders should be quaking with alarm over the most recent headlines regarding MGM Resorts.
While the pandemic may have brought tourism to a standstill, Suncity Group Holdings is showing no indication of slowing down its expansion plans in tandem, announcing an ambitious range of targets for 2021.
Suncity Group Holdings says its Suntrust Home Developers unit has raised a total of PHP12.9 billion ($268.6 million) through the issue of convertible bonds to finance the development of an integrated resort in Manila.
One gaming operator to watch in 2021 will be India’s Delta Corp., whose stock got a mid-month bump in December after it announced it had received approval in principle to build an integrated resort on shore in Goa.
Mohegan Gaming said its Project Inspire in South Korea is scheduled to open in early 2023 and it expects to close financing in early 2021.
India’s land-based gaming industry is taking a step forward with news Delta Corp has been given permission in principle for an integrated resort in Goa.
PH Resorts said it has topped off two hotel towers at Emerald Bay Resort on Mactan Island and that it has also got a further funding pledge from parent company Udenna Corp through a share subscription.