Asia

Macau casino stock prices surge after easing of travel restrictions

Published

5 years ago

July 17, 2020

In a rare piece of positive news for the gambling and casino industry, casinos in Macau saw their stock prices surge this week after the neighboring province of Guangdong eased travel restrictions to allow more people to visit the gambling capital of the world.

Macau has since 2007 generated more gambling revenue than any place on Earth, outstripping Las Vegas. However, the onset of the coronavirus pandemic, and the subsequent travel bans, have severely damaged the Chinese region economically.

Figures from June reported a 97 percent decline in casino revenue year-on-year, the lowest decline in Macau’s history, while last month’s reports meant Macau suffered year-on-year decline of more than 90 percent for three successive months.

Macau’s financial difficulties during the Covid-19 outbreak have been reflected in other gambling hotspots, including Las Vegas and New Jersey, with thousands of jobs lost and thousands more at risk.

However, this week stock prices rebounded in a big way, offering a glimmer of hope that Macau and its leading casinos are on the road to recovery. Galaxy Entertainment closed at a 6.2 percent gain having at one point surged to 11.1 percent, while Sands China – another prominent company on the Macau strip – closed at a five percent increase.

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The stock surges came after Guangdong ended its 14-day quarantine requirements for visitors crossing the Guangdong-Macau border, starting from July 15. Instead of a mandatory 14-day quarantine, visitors must now hold “green” health cards and present a negative Covid test that proves they tested negative within the seven days prior to arriving in Macau.

Considering that Guangdong – with a population of more than 113 million people – was responsible for around half of Macau’s annual visitors last year, this easing of restrictions is a massive boost to Macau’s economy, and economic experts believe the city will start to rebound as a result.

“We expect the removal of the quarantine requirement will lead to a rebound in Macau’s gross gaming revenue following a 77 per cent drop in the first half of 2020, and help reduce gaming operators’ cash burn,” said Sean Hwang, an analyst at Moody’s Investors Service.

“However, we expect the recovery in Macau’s gaming market to be slow, given continued restrictions and new requirements for travel, sluggish economic growth across the region, and the public’s lingering fear of contagion.”

Macau’s biggest strength in ‘normal’ times has proved to be its biggest weakness during the pandemic. A special administrative region in China, Macau welcomes around 35 million visitors each year, the overwhelming majority of whom visit to gamble and enjoy the entertainment associated with the casino resorts.

As the only region in China with legal gambling, Macau has had a near monopoly on Chinese visitors who wish to gamble, plus the many international tourists who visit to enjoy the luxury and decadence on offer in the city.

However, as travel bans ground domestic and international tourism to a halt, Macau’s over-reliance on the casino industry has become horribly exposed. While casino operators in North America, Europe, and other parts of Asia have been able to pivot toward online casino betting services to help soften the economic blow, Macau has been left stranded due to China’s restrictions on online gambling.

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Macau’s reliance on casino revenue has not been lost on the region’s head of government, Ho lat Seng, who in April criticized the “excessive dependence” on the gambling industry as it became clear just how badly hit Macau had been by the economic effects of the pandemic.

“With the outbreak of the novel coronavirus, the gaming and tourism industries registered significant declines, with profound impact on industries connected to these areas,” Ho said. “This demonstrates, once again, the vulnerability and the enormous risks of the Macau economy’s excessive dependence on gaming and tourism industries.

“The healthy and stable development of the gambling and tourism sector will continue for a certain period of time and will be the basis of the continued stability of the economy of Macau. Nevertheless, if the monolithism of the industrial structure remains unchanged, it will inhibit the sustainable development of Macao’s economy.”

While Macau undoubtedly needs to do more to diversify its economy, the easing of travel restrictions and the stock market surge for casino operators at least offers some good news after months of nothing but doom and gloom.

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Asia

100 Exclusive Product Launches to Debut at G2E Asia + Asian IR Expo

Published

1 day ago

April 17, 2025

Niji Narayan

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Building on 15 years of success, G2E Asia + Asian IR Expo is set to make its highly anticipated return to Macau from May 7-9, 2025, at The Venetian Macao.

The 2025 show will introduce a range of new initiatives, including 100 exclusive product launches debuting in Asia for the first time. These will be showcased across more than 30,000 sqm and will cover the full spectrum of the entertainment and travel industries.

The leading event in Asia is expected to attract over 10,000 visitors from 80 countries and regions. To maximise opportunities for attendees, the event will feature a series of high-impact networking sessions, along with a dedicated business matchmaking team coordinating over 400 pre-arranged meetings to streamline connections.

This year’s show will also introduce the new Gaming Innovation Forum, featuring three full days of sessions that will dive into the latest gaming trends and technologies, all presented by G2E Asia Awards winners and nominees. Located in the exhibition hall, the forum will be accessible to all event attendees.

The G2E Asia Awards celebrates excellence and innovation within the gaming and entertainment industry. The awards will spotlight five prestigious categories, each evaluated by a panel of renowned industry leaders: Best Slot Award, Best Electronic Table Game Award, Best Table Game Award, Best Casino Supply Award and Best IR Tech Solution Award. All award-winning products will be prominently displayed in the exhibition, giving attendees the opportunity to experience them firsthand.

The expanded Asian IR Expo will feature a new Smart Hospitality Technology Experience Zone, offering an immersive and interactive onsite experience. This space will showcase emerging innovations across three unique areas: Smart Reception, Smart Cleaning and Smart Hospitality, each providing guided tours and live demonstrations.

The post 100 Exclusive Product Launches to Debut at G2E Asia + Asian IR Expo appeared first on European Gaming Industry News.

Asia

DigiPlus Bags 7 Wins at the 2025 Asia-Pacific Stevie Awards

Published

3 days ago

April 15, 2025

Niji Narayan

digiplus-bags-7-wins-at-the-2025-asia-pacific-stevie-awards

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DigiPlus Interactive Corp. (DigiPlus) has won seven honours – including five coveted gold awards – at the 2025 Asia-Pacific Stevie Awards. This milestone places DigiPlus among the most awarded companies in the region this year, spotlighting its strategic growth and transformative impact across digital entertainment, social development and investor relations.

The Asia-Pacific Stevie Awards are the only business awards Programme that recognises innovation across all 29 markets in the region. Widely regarded as the world’s premier business awards, the Stevie Awards represent a prestigious recognition of business excellence.

DigiPlus bagged five Gold Stevies for ‘Innovative Achievement in Growth’, ‘Innovation in Investor Relations’, ‘Excellence in Social Impact Companies’, ‘Innovation in Annual Reports’ and ‘Innovation in Corporate Websites’. The company also clinched Silver and Bronze Stevies for ‘Achievement in Product Innovation’ and ‘Innovation in Brand Renovation’ respectively.

At the core of these wins is DigiPlus’ commitment to innovation and digital transformation. From redefining the player experience through localised and immersive content, to launching a refreshed brand identity that resonates with a more connected and tech-savvy user base, DigiPlus has embraced a future-forward mindset. The company’s calculated investments in big data, cutting-edge technologies and stakeholder engagement have not only fueled business growth, but also opened inclusive pathways to digital participation through its social development arm, BingoPlus Foundation.

“This momentous victory at the Asia-Pacific Stevie Awards affirms DigiPlus’ emergence as a true powerhouse of innovation and progress, reshaping industry boundaries and redefining digital consumer engagement on a global scale. Through consistent growth and business performance, DigiPlus reaffirms its unwavering commitment to creating long-term value,” said DigiPlus Chairman Eusebio Tanco.

Winning entries in the Asia-Pacific Stevie Awards undergo a rigorous, multi-layered evaluation by an esteemed panel of judges composed of business and industry leaders across the region.

“The 12th Asia-Pacific Stevie Awards received an impressive array of outstanding entries. This year’s winners have clearly shown their dedication to innovation, and we commend their resilience and imaginative efforts,” said Maggie Miller, President of the Stevie Awards.

The post DigiPlus Bags 7 Wins at the 2025 Asia-Pacific Stevie Awards appeared first on European Gaming Industry News.

Asia

Grand Korea Leisure Partners with Robotis

Published

4 days ago

April 14, 2025

Niji Narayan

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Grand Korea Leisure (GKL), a quasi-public firm operating Seven Luck casinos for foreign nationals in Korea, has entered into a partnership with autonomous robot specialist Robotis to introduce artificial intelligence (AI)-powered self-driving robots customised for casino operations.

Under the agreement, the two companies plan to establish joint business models and service systems using autonomous robots and deploy the self-driving robots for transporting gaming chips and cards across three Seven Luck casino facilities.

They will also participate in a large-scale convergence robot demonstration project by the Ministry of Trade, Industry and Energy.

The latest achievement came as part of GKL’s efforts to digitize casino operations.

The two firms began a six-month pilot Programme in September 2024 at Seven Luck Casino at Seoul Dragon City hotel to collect autonomous driving data and jointly develop software tailored to casino environments.

“GKL is accelerating its transition to smart casinos in line with the government’s drive to realize the so-called ‘digital platform government’. By adopting AI-powered self-driving robots, we aim to provide a new and differentiated customer experience,” GKL CEO Yoon Doo-hyun said.

The digital platform government initiative — pushed by the Yoon Suk Yeol administration — aims to resolve diverse social problems and add value using the latest digital technologies.

In August 2023, GKL developed a mobile service platform, the SevenLuck+, for foreign tourists’ easier access to the casino.

The service is the first of its kind developed by a Korean firm. Those who use the app do not have to bring traditional membership cards. It also provides push notifications for new events and promotions for the casino.

The service is powered by a blockchain-based decentralized identity technology, offering various services, such as e-wallet and entry authentication.

The post Grand Korea Leisure Partners with Robotis appeared first on European Gaming Industry News.