Asia Round-Up: Okada’s victory, Macau’s losses; Mohegan remains on track in South Korea

Home » Asia Round-Up: Okada’s victory, Macau’s losses; Mohegan remains on track in South Korea

Prosecutors in Manila have declined to charge Kazuo Okada.
The Philippines’ Public Prosecutor’s Office has refused to prosecute Kazuo Okada on three complaints that he and four others falsified documents. After investigating the claims, the office concluded that there was no probable cause to charge Okada or four others.
The saga of Okada – who famously referred to himself as Daddy O’ in a letter to employees – and his forced occupation of Okada Malila has made headlines in the industry, as he is currently fighting for control of the casino resort with his son Tomohiro. Okada Holdings, which Tomohiro Okada owns 53.27% of, claims ownership of Okada Manila, which is currently being challenged in the Philippines Supreme Court.

Mohegan Gaming’s South Korean resort is still set to open in 2023.

Despite significant rising costs and supply issues, US tribal gaming operator Mohegan Gaming & Entertainment has reiterated that its $1.6 billion South Korean casino resort will still open in 2023.

Mohegan CEO Ray Pineault commented on the development during the company’s Q2 earnings call, saying, “Obviously, there is a challenging environment when you think about supply chain issues.” We are in constant contact with our general contractor to monitor our pre-opening expenses, and we continue to look for ways to keep that project on track and within budget.”

Resorts World Sentosa sees opportunities in the H1 loss.

The Resorts World Sentosa (RWS) casino complex in Singapore has announced a drop in H1 profits, which fell to SGD$84.4 million (US$61.3 million) – 4% less than in 2021. Genting Singapore, which owns the RWS, saw its gaming division grow by 7% in the first six months of 2022.

The operator attributes the rebound to pent-up demand for gaming and integrated resort offerings, which are driven by international tourism as a result of Singapore’s borders being opened to other countries.

“When you consider supply chain issues, there is obviously a challenging environment.” We are in constant contact with our general contractor to monitor our pre-opening expenses, and we continue to look for ways to keep that project on track and within budget.” Ray Pineault, CEO of Mohegan Sun

In Macau, employee numbers are starting to fall.

According to the most recent statistics, the number of people employed in Macau, China’s gambling capital, has begun to decline. The figures show a 4% drop in people working in the city’s gaming industry, which is likely due to the increasing strain on the city’s casinos and operators as lockdowns continue to wreak havoc.

The figures come from Macau’s Statistics and Census Service, which also revealed that the gaming industry in the city accounted for 19.1% of local employment – a 0.5% decrease from 2021 – and that the number of unemployed people increased by 5,100 since the previous quarterly report, now standing at 15,700.

Earlier this week, the Gambling Insider team debated whether now is the time to invest in Macau, despite the fact that 67% of our LinkedIn voters said ‘no!’

Have you missed a major gambling industry story in Asia? Don’t worry, we’ve got you covered with our Asia round-up.

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