Is this you? As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.
Claim your profile
Articles by David Bonnet
Promo costs: Market share or margin?
Former Macau gaming executive David Bonnet takes a closer look at promo delivery across the Asian gaming industry and the trade-offs that drive today’s reinvestment strategies. A few people have recently asked for my thoughts on player reinvestment. Since it’s a topic that’s often misunderstood in the casino business, I thought I’d take a moment to share some perspective. Casino competition in Asia has entered a new phase.
The Magic Number
In this in-depth deep dive into the evolution of the Asian gaming landscape, David Bonnet argues that many regional jurisdictions have been sucked into believing they can replicate the Macau or Singapore IR model – without access to those cities’ sustaining financial ecosystems. Regional gaming markets have yet to achieve the lofty revenue expectations set by the performance of integrated resorts in the Asian heavyweight hubs of Macau and Singapore.
OPINION: Has Macau hit a GGR ceiling?
Macau casinos’ shrinking gross gaming revenue (GGR) may be a wake-up call, suggesting performance has hit a ceiling, and requiring new catalysts to stimulate growth. Tourism’s comeback from the COVID scourge heralded a potential renaissance for Macau’s economic growth. Improved transportation infrastructure, a 10-year renewal on gaming licenses and a surge in post-pandemic “revenge travel” stoked optimism and expectations for a vigorous resurgence in Macau GGR.
Dark mode for FigJam
dennsi July 29, 2024, 8:03am 167 Guys, I found a solution: Use something else than FigJam
OPINION: Japan seeking its pound of flesh
Japan’s prefectural governments may want to reconsider some of the onerous developer impact fee requirements imposed on potential operating partners as a condition to apply for one of the country’s three coveted casino licenses.
Big money
“Even in the high tech world of today’s casino operations, sometimes it‘s the simplest solutions that work best” says industry veteran Steve Karoul. This has been a very volatile year for a number of reasons, not least of them the coronavirus pandemic which has disrupted casino businesses around the world. I was asked recently to be one of the moderators for a webinar, hosted by ICE Digital, which attracted attendees from across the globe. The subject was Casino Marketing: Back to the Basics.
A decade of differentiation
As we head towards a post-COVID world, casinos must follow the lead of other gaming and entertainment sectors by diversifying their offerings and exploring new verticals. As the millennia’s third decade arrives, (that’s right – it starts in January 2021 not 2020) we examine what’s in store for Asia’s casino gaming space and its potential evolution.
How to set up for IR success
Former Victorian gaming regulator Peter Cohen discusses the effectiveness of three key methodologies commonly used in the development of new IRs. There are various methods jurisdictions can use to assess proposals for new IR developments. However, the most critical step in the process is not the evaluation itself, but the assessment model put in place at the outset.
Hokkaido tops Japan’s Prefecture Attraction Ranking for 12th straight year as IR hopefuls perform well
Each year, Japan’s Prefecture Attraction Ranking causes a stir as it places prefectures in order. The 2020 ranking was announced on 14 October, with Hokkaido topping the list for the 12th consecutive year ahead of Kyoto and Okinawa. All three are popular destinations for foreign and domestic tourists alike.
Tokyo District Court denies bail for Akimoto in IR corruption case
The Tokyo District Court made the decision on Wednesday to deny the bail request of Tsukasa Akimoto, 48, who has been charged with bribery and violation of the Organized Crime Law (acquisition of witnesses) in an integrated resort corruption case. According to Kyodo News, his lawyer had made the request on 12 October.
Amendment to China’s criminal law could be long-term positive for Macau
Inside Asian Gaming CEO Andrew W Scott says the introduction of new laws aimed at further restricting the promotion of gambling in mainland China “could be a long term plus for Macau if it stops mainland Chinese spending money elsewhere.” His comments were made during a presentation to the British Chamber of Commerce in Macau on Wednesday, where Scott tackled “The 10 biggest questions facing the Macau gaming industry.” As reported by Inside Asian Gaming earlier this week, the Standing...
Suncity Group claims majority 69.66% stake in Summit Ascent Holdings
Suncity Group Holdings Limited has increased its stake in Summit Ascent Holdings – the majority owner of Russian casino Tigre de Cristal near Vladivostok – to 69.66% as part of a rights issue. The acquisition comes after Suncity shareholders last month voted in favor of the move, which boosts the company’s interest from 24.74% at a cost of just under US$160 million.
Macau’s Judiciary Police hold crime prevention workshop with The Venetian Macao’s frontline workers
Macau’s Judiciary Police (PJ) jointly held a workshop on “Prevention of Gaming Crime” with the Venetian Macau Ltd. on Wednesday, aimed at enhancing the awareness of gaming crimes by frontline staff and ability to react accordingly. The workshop was held at the Venetian Hotel with the PJ’s Gaming-related and Economic Crimes Investigation Department sending 12 criminal investigators talk with The Venetian Macao employees.
Air Macau granted three more years as Macau’s exclusive carrier
The Macau government has signed off on a three-year extension of Air Macau’s concession contract, ensuring it will remain the sole Macau-based carrier until at least 2023. The extension, originally announced in May, comes at the end of a 25-year concession granted in 1995. The government had previously hinted at ending the exclusive concession in favor of liberalization – not unlike the move away from STDM’s casino monopoly in 2002 – but those plans were disrupted by the COVID-19 pandemic.
Russian casino Shambhala to hold grand opening this Friday
The second casino to be built in Russia’s Primorye Economic Zone, Shambhala, will hold its long-awaited grand opening this Friday. The RUB$3.5 billion (US$45 million) project, which held a soft opening in September to test drive equipment and operations, will feature 5,200 square meters of gaming space, a restaurant, two fast food venues and a theater upon launch, with development of a second phase planned to get underway from 2022.
2020 Asian Gaming Power 50 Black Tie Gala Dinner to feature Red Carpet Live Streaming and Live Real-Time Photo Downloads
Inside Asian Gaming (IAG) has announced two exciting new features at this year’s Asian Gaming Power 50 Gala Dinner – Red Carpet Live Streaming and Live Real-Time Photo Downloads. The 13th Asian Gaming Power 50 Gala Dinner is a black tie event to be held at The Parisian Macao on Friday 6 November 2020, at which IAG will announce its highly anticipated 2020 Asian Gaming Power 50.
Resorts World Genting to stay open but all eyes on latest Malaysia COVID lockdown
Genting’s flagship Malaysian IR, Resorts World Genting, will remain open for now but the operator says it is monitoring the situation after a Conditional Movement Control Order (CMCO) was reintroduced to certain areas of the country. Kuala Lumpur, Putrajaya and Selangor are all back under partial lockdown for the next two weeks after Malaysia reported 562 new cases of COVID-19 and another 660 on Tuesday.
Aichi on track to join Japan IR race with operator discussions ongoing
Japan’s Aichi prefecture, located in the Chūbu region of Honshū, has confirmed it is still considering joining the race to develop an integrated resort, with operator discussions ongoing amid the uncertainty of the COVID-19 pandemic. The issue of IRs was raised at a recent plenary session of the Aichi Prefectural Assembly after a member of the assembly asked for clarity on how many operators had submitted initial proposals around potential development of an IR.
Yokohama to run second RFC, reveals Japan’s Shotoku as mystery seventh bidder
Yokohama city has announced that it will run a second Request for Concept (RFC) process for development of an integrated resort at Yamashita Pier due to concerns aired by operators. The seven candidate operators to have submitted RFC documents during Yokohama’s first round were revealed by the city on Tuesday, with Japanese firm Shotoku Corporation – a designer and developer of broadcast systems – named for the first time as one of the bidders.
MGM Resorts cites investor confidence as US$750 million notes offer completed
MGM Resorts said Tuesday that the company continues to attract investor confidence following completion of a recently announced US$750 million senior notes offering. The notes, in aggregate principal amount of 4.750% due 2028, will be used for general corporate purposes, MGM explained, and potentially to refinance existing indebtedness.
Clark International Airport to open new terminal by January, tripling annual capacity
Clark International Airport will welcome its new passenger terminal building by January after workers completed exterior construction work last month. The new terminal will triple the airport’s capacity from its current 4.2 million passengers to 12.2 million passengers per year.
Industry celebrates together as IAG welcomes largest ever Macau After Dark crowd
Around 120 guests enjoyed a night of fun and frivolity as Inside Asian Gaming hosted the sixth edition of its popular networking social event, Macau After Dark, at Vasco – Bar and Lounge, Grand Lapa last Friday night.
Korea’s Kangwon Land reveals limited casino reopening
Korea’s only casino open to locals, Kangwon Land, has reopened for the first time in 50 days following an easing of social distancing measures by the Ministry of Health and Welfare. According to a company update published Monday, up to 750 people are now permitted to use Kangwon Land’s mass gaming floor at any one time as of 10am Monday morning while a further 68 people can make use of VIP gaming facilities. All guests must be seated, the company stated, and masks are mandatory.
China’s NPC eyeing amendment to criminal law creating new crime for foreign casinos targeting Chinese players
A new crime centered around organizing and soliciting by foreign casinos forms one of a number of proposed amendments to China’s criminal law to be reviewed by the Standing Committee of China’s National People’s Congress this week.
Suncity Group signs youth academy official partner deal with Japan SailGP Team
Suncity Group, the Hong Kong-based junket and IR operator currently looking to develop an integrated resort in Wakayama, has signed on as sponsor of the Japan SailGP Team and its Youth Academy, aiming to support art and sport in the prefecture. The sponsorship will see Suncity assisting the Japan SailGP Team as it prepares for SailGP – a series of yacht race bringing together different countries and featuring F50 catamarans with similar specs compete at speeds exceeding 100 km/h.
Upcoming Osaka Metropolis Plan referendum may impact Osaka IR plans
Osaka officials announced on Monday that they would hold a referendum regarding the “Osaka Metropolis Plan” on 1 November, which if approved would abolish the current city of Osaka and reorganize it into four special wards. This is the second referendum on the topic since it was rejected by a narrow margin of 10,000 votes in May 2015. There are approximately 2.24 million Osaka residents aged 18 or over who are eligibleto vote.
Nagasaki to discuss new Japan IR timeline with operators
Nagasaki Governor Hodo Nakamura has promised to listen to the concerns of the prefecture’s potential IR operator partners in progressing its bid to develop an integrated resort following news that the national submissions period had been delayed by nine months.
Former 500.com advisors handed suspended jail terms in Japan IR bribery case
The two advisors to Chinese online lottery and sports betting company 500.com implicated in Japan’s IR bribery scandal have been sentenced to suspended jail sentences by the Tokyo District Court. On Monday, Masahiko Konno, 49, was handed a two-year sentence, suspended for three years, while Katsunori Nakazato, 48, was handed 22 months also suspended for three years for their roles in the scandal.
Genting facing risks on multiple fronts: Maybank Research
Maybank IR Research has trimmed its share price target for global gaming giant Genting Berhad by 10% to MYR3.26 on concerns over “governance and social issues.” In a note examining Genting – whose subsidiaries include both Genting Malaysia and Genting Singapore as well as various interests in energy, power and plantations – from an ESG (environmental, social, governance) standpoint, Maybank IR Research analyst Samuel Yin Shao Yang said it was unlikely that global environmental issues would...
Macau to quarantine all visitors who have been to Qingdao within the past 14 days
The Macau SAR Government has declared it will quarantine any visitor who has been to Qingdao in Shandong Province within the past two weeks after the eastern Chinese city reported nine cases of COVID-19 within the community on Sunday. The mini-outbreak led local Qingdao authorities to announce on Monday that it would implement a mass community testing for six million citizens within the next three days in an effort to quickly halt any further spread and isolate those affected.
Ongoing COVID-19 concerns force postponement of Manila’s Phil-Asian Gaming Expo until July 2021
Organizers of the Phil-Asian Gaming Expo (PAGE) announced Monday that next year’s show, previously scheduled to take place at Manila’s SMX Convention Centre in late January, has been rescheduled until 29 to 31 July 2021. The new dates represent the second postponement of the annual trade show, having previously been shifted from July 2020 to January 2021 as a result of the global COVID-19 pandemic.
Delay to Japan’s IR application period creates division among candidate cities and prefectures
Last week’s announcement by the Japanese government that it would postpone the application period of local governments to develop IR facilities has created stark division between the locations currently preparing their respective IR bids.
An open letter to the Asian Gaming Industry re COVID-19 and the outlook ahead
As the leading media organization covering the Asian gaming and integrated resort (IR) industry, Inside Asian Gaming (IAG) feels a heavy responsibility to fairly and accurately report on the daily news of our industry, and to offer insightful, fair and balanced opinion and analysis. During 2020 the volume of industry news and reporting has increased dramatically, to almost double normal levels.
Sega Sammy Creation announces US$14.8 million loss in 7th term financial results
Sega Sammy Holdings’ casino supply subsidiary, Sega Sammy Creation, has reported a net loss of JPY1.56 billion (US$14.8 million) in its 7th term financial results, released late last week. Sega Sammy Creation, headed up by former IGT Asia executive Scott Winzeler,manufactures and sells slot machines and ETGs for casinos in Asia and the US.
Revised Basic Policy draft released, Japan Tourism Agency to launch new public consultation period
The Japan Tourism Agency (JTA) has announced a renewed public consultation period following publication of a new Basic Policy draft on Friday. The revised draft includes additions in three key areas, namely increased safety, health and hygiene measures relating to IR areas and facilities as a result of COVID-19, heightened problem gambling requirements for prefectures and new contact rules for national and prefectural staff in their dealings with operators.
All six Macau concessionaires confirm sponsorship of Asian Gaming Power 50
Inside Asian Gaming has announced that all six of Macau’s concessionaires have confirmed their sponsorship of the Asian Gaming Power 50 Gala Dinner, to be held at The Parisian Macao on Friday 6 November. The concessionaires include five now confirmed as Gold Sponsors of the event – Galaxy Entertainment Group, Melco Resorts & Entertainment, MGM China, Sociedade de Jogos de Macau, S.A. (SJM) and Wynn Macau.
Isle of Man says under pressure POGOs eyeing move away from Philippines
Isle of Man-based services provider Affinity Group says it has seen an increase in inquiries from Asian-facing iGaming companies considering moving their operations from the Philippines due to a recent tax hike on licensed POGOs. “The Philippines has historically been a jurisdiction chosen by Asian-facing operators but, following the recent negative press surrounding POGO and more recently the tax increase, we have seen an influx of enquiries from operators who are looking for a suitable...
BNU, Bank of China sign new 10-year agreement to issue Macau banknotes
The Macau SAR government has signed a new banknote issuance agreement that will see the Bank of China (Macau) and Banco Nacional Ultramarino (BNU) issue banknotes for the next 10 years.
Macau hotels report 43.6% occupancy, lower room rates in Golden Week
Macau’s hotels and guesthouses reported an average occupancy rate of 43.6% during the recent Golden Week holiday, according to industry figures published by the Macao Government Tourism Office. The figures include an occupancy rate of 43.2% for 5-star hotels, down from 95.2% over the same period in 2019, 45.2% for 4-star hotels and 51.9% for 3-star hotels. However, 2-star hotels and guesthouses reported occupancy of just 21.4% and 23.9% respectively.
Crown issued show cause notice by Victorian gaming regulator over lack of junket controls
Crown Resorts could face sanctions in its home state of Victoria after the gaming regulator issued a notice to show cause why it should not be disciplined for alleged failures of its internal junket controls.
Mystery lucky draw prize valued at over MOP$20,000 added to lucky prize line up for MAD6 tonight at Vasco Bar and Lounge, Grand
No less than eight Lucky Draw prizes – including a grand prize valued at over MOP$20,000 – will be on offer at Macau After Dark 6 tonight! The eight superb lucky draw prizes are courtesy of a range of sponsors including Inside Asian Gaming’s partners Grand Lapa, Suncity Group and Forward Fashion (International) Holdings Limited. MAD 6 will be held at stylish peninsula meeting spot Vasco – Bar and Lounge, Grand Lapa, tonight.
Japan to postpone IR application period by one year, new Basic Policy draft to be released
Japan’s central government began considerations on Thursday to postpone the application period for local governments aiming for an IR bid for up to one year. According to local media reports, the application period will be extended from its originally planned window of January to July 2021 as a result of delays brought about by the COVID-19 pandemic. It is expected that a new Basic Policy draft will be announced on Friday 9 October along with the new deadline.
MGM Resorts looking to raise US$750 million via senior notes offering
MGM Resorts International has announced a new US$750 million senior notes offering which the company says will be used to refinance existing debt and for general corporate purposes. The offering of 4.750% senior notes due 2028 represents an upsizing from an originally planned US$500 million offering announced earlier in the day. The transaction is expected to close on 13 October 2020, MGM said. News of the offering comes as MGM prepares to announce its 3Q20 earnings results later this month.
Macau After Dark 6 is on tonight!
The sixth instalment of IAG’s popular networking social event Macau After Dark, is on tonight at stylish peninsula meeting spot, Vasco – Bar and Lounge, Grand Lapa. Located on the mezzanine floor overlooking the Grand Lapa hotel lobby, Vasco is a place to see and be seen. With its contemporary design, Vasco blends perfectly with the lobby’s classical architecture. The lounge is named for Vasco da Gama, the famous Portuguese navigator who was the first European to journey by sea to India.
Dwindling hope Macau will return to normalcy in 2021: JP Morgan
An exceedingly underwhelming Golden Week holiday period, coupled with mounting VIP uncertainty and downside risks to consensus, have led JP Morgan analysts to downgrade Macau stocks on lowered expectations for the year ahead.
Gaming and Big Tech stocks through 7 October 2020
Former Crown Resorts Executive Chairman and still largest shareholder James Packer says the company’s AU$2.2 billion Crown Sydney project was never intended to rely on the use of junkets with locals gaming planned to comprise around two-thirds of annual EBITDA....
Packer says international VIP was never intended to be main focus of Crown Sydney
Former Crown Resorts Executive Chairman and still largest shareholder James Packer says the company’s AU$2.2 billion Crown Sydney project was never intended to rely on the use of junkets with locals gaming planned to comprise around two-thirds of annual EBITDA.
Macau Golden Week concludes with visitation down 85.7%
Just 139,280 visitors arrived in Macau during this year’s October Golden Week, down 85.7% year-on-year as COVID-19 continues to haunt the SAR’s gaming operators. Despite Chinese authorities restoring the Individual Visit Scheme for all of mainland China on 23 August, visitor numbers remained subdued throughout the usually busy holiday period with a peak of just 22,116 arrivals on Saturday.
“Cruise to nowhere” sailings given green light to launch out of Singapore from 6 November
The Singapore Tourism Board has given the green light for pilot “cruise to nowhere” sailings to resume from early November. According to a statement issued on Thursday, two cruise lines have been granted permission to operate with Genting Cruise Lines’ World Dream to launch pilot sailings from Friday 6 November and Royal Caribbean’s Quantum of the Seas from an unspecified date in December.
Genting Hong Kong’s German shipyard granted US$227 million government subsidy
Embattled cruise ship operator Genting Hong Kong is set to receive a €193 million (US$227 million) subsidy from Germany’s government to continue operations at its German shipyard MV Werften. The cash handout, roughly a third of the €570 million Genting HK has requested from the nation’s stabilization fund, forms part of a government initiative to keep German workers in active employment through the COVID-19 pandemic.
Show More
loading
Actions
Is this you?
As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.Get in touch with David
Contact David, search articles and posts on X, monitor coverage, and track replies from one place.
Learn more about Muck Rack