ICE-SiGMA Asia Goes Digital ASIA & OCEANIA
As the in-person event its postponed until next year, ICE-SiGMA 2020 launches as a digital alternative in June
ICE Asia, which was due to take place on 8 and 9 June in Manila, will be postponed to next year, taking place on 27 and 28 May, 2021.
PHILIPPINES EXHIBITIONS
CHINA – Analysts at Instinet, owned by Nomura, believe Macau faces a three-year recovery to get back to where it was before the coronavirus outbreak, as the June 2020 GGR reset gives way to a gradual ramp up by mid-2023.
It believes that the international recovery will 'occur first in Macau' but border restrictions between Macau and neighbouring Guangdong introduced in March were a 'setback' for casino revenue 'which was gaining traction in March.'
Instinet analysts Harry Curtis, Daniel Adam and Brian Dobson said: "There will likely be a recovery in 2020, but slow. Beijing is taking the risk of a second wave of infection seriously. When the IVS system is restarted, it will be into a safe and controlled environment. VIP and premium mass are probably the first to recover since there are likely to be restrictions on visitation growth which will limit mass."
It is predicting a fall in revenues of 65 per cent in Q3 and 60 per cent in Q4 adding that 'if the reinfection rate is low' Macau's could reach 'US$22.6bn in GGR in 2021, roughly 62 per cent of the 2019 level.'
“To achieve this number, IVS needs to expand to larger, more distant provinces, mass and group visitors must have confidence in health screening protocols at the borders, and social distancing policies on casino floors should be relaxed, thus increasing the number of operational gaming positions during peak periods,” the analysts added. "An effective vaccine would likely be needed to exceed our 62 per cent (of 2019 GGR) estimate."
It believes the IVS system will restart in May, firstly in mainland China provinces 'where demand will not overwhelm immigration checkpoints.'
“Larger provinces, like Guangdong and Hubei, may get segmented into northern and southern sections with visas first issued in the closest virus-free areas,” it added. By 2022, it added: "We estimate that GGR recovers to roughly 90 per cent of 2019 highs, if borders, IVS and casino operations have returned close to normal."
INDIA –Soft2Bet has announced it has entered the Indian market as the company continues to extend its reach across new territories. Four of the company’s products; Wazamba, Rabona, Nomini, and Campobet, will be available to the Indian market, with the company taking the rest of its multi-brand portfolio live in the near future.
The launch includes Soft2Bet’s casinos alongside its sportsbooks which carry cricket - the country’s most popular sport.
P26 NEWSWIRE / INTERACTIVE / MARKET DATA
Clarion Gaming’s Managing Director, Kate Chambers, has confirmed that ICE Asia, which was due to take place on 8 and 9 June in Manila, will be postponed to next year, taking place on 27 and 28 May, 2021. Kate Chambers said, “My team and I continue to empathise with our Global Gaming community, as well as industries and supply chains around the world, that are being affected by COVID-19. We understand the deep impact the virus continues to have with our friends and colleagues across the Asia region and Globally and our best wishes go out to them. Tese are unprecedented times and we would like to keep our communication channels open and understand the challenges unfolding across the Asian Gaming community. If we can help in any way, I would be delighted to hear from the industry on my personal email:
kate.chambers@
clariongaming.com.”
Clarion Gaming and SiGMA continue to work together to carefully track the impact COVID-19 is having across the region and support the efforts of event partners during this really difficult time. In response to ongoing demand for industry updates and knowledge sharing, particularly in the current situation worldwide which makes face-to-face meetings impossible,
Bloomberry well placed to survive despite Solaire shut until May
Philippines
Bloomberry Resorts, owner of Solaire, one of the four resort casinos in Manila's Entertainment City, has said 2020 will be a write-off due to the global COVID-19 pandemic with it not expecting consumer sending to recover quickly.
Solaire shut its doors from March 15 and will stay shut until April 30 with Chairman and CEO Enrique Razon Jr saying the operator is well placed to survive. Bloomberry's profit increased 38 per cent in 2019 to Php9.9bn (US$196m). Mr. Razon said: “Of course when you are closed there is no cash flow really, although we have long term guests in the hotel who are staying put here, but
Clarion Gaming and SiGMA have now launched ICE-SiGMA Asia DIGITAL, an online event to take place over the same period as the postponed event, from June 8-10.
Tis digital event is free for participants and will provide three days of compelling content around Gaming in Asia, with local operators, thought leaders and Gaming experts focusing on tech innovation, the future of gaming and market recovery post-COVID-19.
Founder and CEO of SiGMA Group, Eman Pulis said, “In line with SiGMA Group’s commitment to facilitating new business opportunities for key players in the global iGaming and emerging tech sectors, the digital conference will embrace the difficulties we are facing at a time when working together has never been more important. COVID-19 has provided a unique opportunity to rethink how we live and work.
“Te interactive experience will feature a series of panel discussions and keynotes from leading industry contributors, bringing top speakers together for discussions that will engage the community and shape the future as we adapt to a fast-changing global environment.”
the cash in the group is pretty healthy. Of course this year, you can write it off, but there really are no concerns there.
“I think people are profoundly impacted by the virus and the lockdowns, having to focus just on buying food, spending their money. Te government has to give people cash. I think people will come out of this and the savings rate is going to dramatically increase, so I don’t think consumer spending is going to recover that quickly.”
Mr. Razon is also Chairman and CEO of International Container Terminal Services Inc (ICTSI), a Philippine port business, which is focusing on speeding up the delivery of food and medical equipment.
“Te people need to be fed, they need to be given medicine and the government needs all the shipments that have been coming in,”
Philippines
Senate Minority Leader Franklin Drilon believes that the coronavirus pandemic adds more weight to the argument that Philippine casino regulator and operator should sell its 47 casinos. He believes that privatising the sector would generate Php300bn for the government which could be used to finance the fight against the pandemic. Mr. Drilon said: “Te government does not have to look far to raise revenues. Tere are ‘low-hanging fruits’ we can immediately tap to provide the much needed resources for our country to survive this pandemic. I hope our economic managers will move fast, because the effects of COVID-19 will go beyond 2020." However, PAGCOR Chairman and CEO Andrea Domingo argues that 100 per cent of the profits from its casinos already go to the government compared to 19.5 per cent of the profits from the integrated resorts.
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