Asia-Pacific casinos experience recovery despite regional challenges in 2023

The Asia-Pacific licensed casino business had a notable rebound in 2023 after overcoming the challenges posed by COVID-19 restrictions.

The Japanese prefecture of Nagasaki was disappointed to learn that its request to host an integrated resort (IR) with a casino was rejected due to financial issues, but the year was not without its setbacks.

By contrast, the MGM Osaka is scheduled to open in 2030. The Osaka metropolitan area in Japan was approved for its IR plan in April, having completed 66 percent of the government’s checklist.

A major plot point in 2023 revolved on the “reopening” of Macau and mainland China as travel restrictions linked to the pandemic easing up. Chinese regulators remained adamantly opposed to “cross-border” gaming operations even as Chinese consumers progressively returned to regional and global marketplaces. This casts doubt on local casinos’ ability to serve a substantial Chinese player base, which has implications for them.

By 2023, Macau will have reclaimed its title as the largest casino jurisdiction globally in terms of gross gaming revenue (GGR). The city gave its six operators new concession contracts and required them to invest heavily in non-gaming initiatives and worldwide client market research.

Macau’s reliance on junket-generated VIP play seemed to be decreasing, despite a consistent stream of mainland tourists. The city government made plans known to prohibit authorized junkets from providing players with direct credit, which has been a custom in Macau for many years.

The announcement of Philippine Amusement and Gaming Corp (PAGCOR) to sell its network of state-owned casinos contributed to the Philippines’ casino industry’s successful start to 2023. Concerns over the future course of the business were raised, nonetheless, as growth in the Philippines slowed in the fourth quarter.

In late November, the Mohegan Inspire Entertainment Resort in South Korea debuted, while the industry continued to monitor Thailand for possible casino licensure. Chen Lip Keong, the CEO and founder of NagaCorp Ltd, the Phnom Penh monopoly casino operator, passed away in Cambodia.

Asia’s most anticipated event of 2023 was the “Great Recovery,” or the revival of the Macau casino industry. The region saw an unanticipated increase in VIP/premium gamers as well as a return of mainstream gaming revenue despite challenges.

Even though the year witnessed a significant upturn, industry observers emphasized the need for ongoing care and adaptability given the dynamic nature of the Asia-Pacific casino market.

Original story by: GGRAsia