Asian Recovery or More of the Same?
Heading into 2020, it looked as though the gaming world would continue on its track of expansion in Asia. Macau was two years out from concession renewal. The Philippines was seeing strong growth in gaming and tourism. Jurisdictions such as Cambodia, Vietnam and others were seeing strong growth in their existing facilities with new projects being announced along the way.
Yet, it was shortly after the start of that year that the world began to change, and change rapidly. Macau initially shut down for two weeks, and the rest of the world soon followed with what still remains for many jurisdictions that are in Great Shutdown mode. Gaming revenue evaporated quickly. Timelines for expansion disintegrated. Concession renewals in Macau were put in limbo other than a two-year extension to put all of the concessionaires on the same timeline for renewals. Heading into 2022, there are just as many uncertainties as portions of Asia finally began to reemerge rom nearly two years of lockdown.
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