In its G2E Asia demonstration, Bloomberg highlighted the region's casino and resort market's continuous recovery, which produced some unexpected findings.
Returning Old Results
With the Philippines as the first example, APAC Gaming and Hospitality expert Angela Han Lee highlighted the company's findings. The nation had:
- a 39% growth in 2020;
- 47% in 2021;
- 79% as of H1 2022.
These figures denote a significant market revival.
Singapore experienced a 41% improvement in 2020 and 45% in 2021. However, the first half of this year saw a considerable rise of 68% over the same period in 2019. Ms Han Lee reported that the brand anticipated the country's gaming sector to approach pre-pandemic rates by 2024.
Whereas the mentioned regions remained stable, Macau and Phnom Penh displayed significantly more uneven recovery statistics.
Slowdown Outcomes
The Chinese gaming capital rebound from 2019 was 21% in 2020 and surged to 30% in the previous year. Nevertheless, it dropped back to a level of 18% for the first half of 2022, which can be linked to the weak nation's economy and the impact of lockdowns.
The capital of Cambodia displayed an original proportion rise of 51% in 2020, but that figure plummeted to 13% in 2022 and achieved 27% in H1 2022. These numbers reflect how the pandemic outbreak has affected the nation.
The tax ceilings established in each jurisdiction can also be used to analyse some recovery rates. For example, Macau imposes a standard fee of 40% for VIPs.
For both high-value and mass players, decreased tax rates are applied in:
- the Philippines;
- Singapore;
- Cambodia.
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