Don’t bet on casinos benefiting New York City

Proposed New York City casino sites include Times Square in a renovated office building.

I visited Singapore last week for the G2E Asia gaming conference and trade show, held at Marina Bay Sands. MBS remains the most impressive and profitable casino resort on earth, symbol of a Singapore that’s grown past chewing gum bans. Crosstown rival Resorts World Sentosa draws domestic and international visitors with Universal Studios and other attractions.

Casino licenses on offer for New York City and vicinity should inspire similarly sensational integrated resorts. But the licenses will likely produce no-frills cash boxes, bringing the city more of what it doesn’t need. Without a major policy rethink, the city will be better off without them.

Former US diplomat and broadcast news producer Muhammad Cohen is Asia editor at large for iGaming Business, a longtime contributor to Forbes, columnist for Asia Times and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about TV news, love, betrayal, high finance, and cheap lingerie. See his bio, archive and more at www.muhammadcohen.com; follow him on Facebook, Twitter @MuhammadCohen and LinkedIn.

Japan keeps casino world waiting

Local election that began Sunday mark the latest milestone that could trigger a decision on Japan’s casino license applications. The current legalization push has gone on for a decade, with two applications from Osaka and Nagasaki submitted last April for three available licenses.

So far, there’s been no indication of when the national government evaluation process will finish. Sources in Japan expect decisions will be announced in months, if not weeks, with the strong possibility of a new round of bidding for unawarded license(s) to follow the decision. But the smart money likely would have said the same thing a year ago.

Former US diplomat and broadcast news producer Muhammad Cohen is Asia editor at large for Gaming Business, a longtime contributor to Forbes, columnist for Asia Times and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about TV news, love, betrayal, high finance, and cheap lingerie. See his bio, archive and more at www.muhammadcohen.com; follow him on Facebook, Twitter @MuhammadCohen and LinkedIn.

Renminbi in Macau casinos might mollify Beijing

The end of China’s Zero Covid policy and new concessions for Macau’s incumbents don’t signal the end of its problems. The once and future top global casino destination faces a Beijing regime that’s skeptical, if not downright hostile, toward gambling. Switching Macau betting to mainland China’s currency, the renminbi, might help assuage concerns over funds illegally leaving the mainland via casinos.

Former US diplomat and broadcast news producer Muhammad Cohen is Asia editor at large for iGaming Business, a longtime contributor to Forbes, columnist for Asia Times and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about TV news, love, betrayal, high finance, and cheap lingerie. See his bio, archive and more at www.muhammadcohen.com; follow him on Facebook, Twitter @MuhammadCohen and LinkedIn.