MACAU GAMING FIRMS’ INVOLVEMENT IN VLADIVOSTOK CASINOS A RISK FACTOR: VICKERS

March 10, 2022 China Industry Updates

In the wake of Russia’s invasion of Ukraine and amid Beijing’s refusal to condemn the invasion, the state of China and U.S. relations remains in a “parlous state,” however, recent events are probably neutral for Macau –

unless things suddenly deteriorate even more between China and the U.S., according to political and corporate risk expert Steve Vickers.

Recently, China’s foreign minister Wang Yi called Russia its “most important strategic partner” following China’s refusal to condemn the war, despite growing pressure from the U.S. and the European Union.

Wang Yi said Chinese ties with Moscow constitute “one of the most crucial bilateral relationships in the world.”

Previous reports have indicated that the U.S. has urged Chinese officials to help avert war in Ukraine, with the U.S. presenting China with intelligence on Russia’s troop build up, hoping that President Xi Jinping would step in.

Rather, China has broken with the U.S., Europe and others that have imposed sanctions on Russia.

Questioned by the Times whether the deteriorating China-U.S. relations could affect – at some point – the existing American operators in the city, and whether the concession licenses of these operators are at risk, Vickers said that a risk may rise in regard to the involvement in Vladivostok casinos.

Just recently, hotel and gaming operator NagaCorp halted its plans of building an integrated resort in Russia despite already starting the construction of its development in the city of Vladivostok.