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Asia round-up: Bloomberg projects Singapore recovery, SkyCity, The Star & more

During its G2E Asia presentation, Bloomberg showcased the ongoing recovery of the casino and resort market in Asia, which threw up some surprising results. 

asia news round up macau auckland gambling insider web image

Starting with the Philippines, Han Lee presented Bloomberg’s findings that, in 2020, the country posted a 39% comparison with 2019; which rose to 47% in 2021; and, thus far in H1 2022 has already reached 79%. This marks a strong recovery for the market.  

Meanwhile, in Singapore, the island saw a 41% comparison to 2019 in 2020, bumping up by four percent to 45% in 2021. But it was in H1 2022 that it recorded a big leap of 68% on 2019 – with Han Lee saying Bloomberg expected Singapore’s gaming market to reach pre-pandemic levels by 2024. 

In the Chinese gambling hub, Macau posted a 21% 2020 recovery from 2019, rising to 30% in 2021. But, for H1 2022, it shrunk back to a low of 18%, which can be attributed to the struggling Chinese economy and the effect of Covid lockdowns. 

“China’s economy is not doing well, there are fewer wealthy people. So, Macau’s casinos are shifting focus more onto mass gaming markets, which have a higher GGR” Bloomberg Intelligence’s APAC Gaming and Hospitality Analyst Angela Han Lee

SkyCity reports US$21m loss for FY22 

SkyCity has reported a NZ$33.6m (US$21m) loss for the year ended 30 June 2022, largely due to the closure of its flagship property in Auckland for 107 days during H122 due to pandemic-related restrictions. 

The group’s Hamilton property was forced to close for 65 days, with its Queenstown property closed for 22 days. 

The operator reported a 33% year-on-year decline in revenue to NZ$639m. Its Auckland property represented the majority of such revenue at NZ$330.6m, followed by Hamilton and Queenstown at NZ$56.2m and NZ$10.2m respectively. 

NZ Other and the group’s Adelaide property reported totals of NZ$3.8m and AU$184.5m (US$128.6m) respectively. 

"Macau’s casinos are trying to shift focus to the mass gaming segment, which has a higher margin” Bloomberg Intelligence’s APAC Gaming and Hospitality Analyst Angela Han Lee

Inquiry hears patron continued to gamble at The Star despite police ban 

Public hearings of the inquiry into The Star Entertainment Group’s Queensland casinos have heard “one of the top 10 table players” at its Gold Coast venue had been banned by police from casinos in two other states. 

Day three of public hearings of the inquiry, led by former Court of Appeal judge Robert Gotterson, heard more details about patrons, with one patron reportedly having alleged links to the Calabrian 'Ndrangheta organised crime group. Called Person Two, the patron was excluded from venues in New South Wales and Victoria by police commissioners but was allowed to continue gambling in Queensland until “sometime later.” 

The hearing was told that the patron was excluded from a Melbourne casino in December 2014 and a New South Wales venue in 2015, but was not given a group-wide withdrawal of licence until January 2021. 

Macau tax revenue falls 50% year-on-year for July to $162m 

Tax revenue generated from Macau’s six concession holders fell to MOP$1.31bn (US$162m) in July, down on the MOP$1.35bn the region’s Government collected in June. Tax generated in July was also down 50% year-on-year.  

The news is unsurprising, given Macau’s recent struggles with post-pandemic life where its borders remain all but closed and incoming travel is still far below pre-pandemic levels.  

Missed a big gambling industry story in Asia? Don't worry, Gambling Insider has you covered with our Asia round-up. 

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