Even in extremely challenging times, Macau got seven bidders for its six casino concessions. Unfortunately, authorities didn’t use their leverage wisely to clean up a glaring conflict of interest and remove an underpeforming licensee.
Promised casino operator non-gaming investment will be most effective if targeted toward comprehensive efforts among all stakeholders to boost Macau’s destination appeal. But absent a government mandate, don’t bet on that happening.
Incoming Chief Executive Ho Iat Seng will preside over the expiration of Macau’s casino concessions in 2022. Beijing didn’t select Ho to rock the boat, good news for the current licensees that have invested billions to create the world’s largest casino hub. But they should be careful, not cocky.
Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.
China’s headline economic issues are deterring high end players, but mass market gaming drives Macau casino revenue. It’s a healthy trend that’s likely to continue as authorities push for Macau to become more of a tourism destination and less of a gambling hub.
Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.
Macau has extended the casino concessions for SJM Holdings and MGM China to June 2022, aligning them with the expiration dates for Macau’s other four casino operators. What will happen in 2022 remains as unclear as ever.
Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.
Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.
Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.
Muhammad Cohen 