Inside Asian Gaming

June 2016 inside asian gaming 43 around broadening Macau’s gaming and tourism market, leaving growth volatile and susceptible to shifts in external demand. We expect the economy will continue to contract during 2016 and 2017, although the pace of decline may ease. “The rating downgrade reflects Moody’s view that the sharp weakening in the economy, with growth remaining highly volatile, coupled with the limited policy response to the fall in gaming revenues, leave Macau’s credit profile weaker than those of Aa2 peers.” Moody’s also downgraded Macau’s long-term foreign currency bond ceiling from Aaa to Aa2 and its long-term foreign currency deposit ceiling from Aa2 to Aa3. In response to the news, The Monetary Authority of Macao released a statement of its own insisting Macau remained in a strong financial position. “Over the long term, Macau’s economic resilience and creditworthiness will continue to be effectively supported by its fiscal strength, solid external financial position, credible policy framework, reliable linked exchange rate system, sound financial system and strong economic fundamentals,” it said. BBIN enjoying Western boost REGIONAL BRIEFS BBIN’s online offerings include sports betting, lotteries and slots, however it comes as no surprise that live dealer baccarat generates around 85 percent of revenue given the huge demand for the game across Asia. “We pay a lot of attention to how to maximise the visualisation of our products, particularly with our live dealer,” Lin said. “That’s because if you want to market there, you don’t need to educate players – you need to follow them. Each culture already knows what it likes. If you want to get into a market you have to know what they want and provide it.” Canberra Casino set to receive 200 slot machines Tony Fung’s proposed AU$330 million redevelopment of Canberra Casino will see the property allowed to install up to 200 slot machines for the very first time, breaking the stranglehold of Canberra clubs on Australia’s most popular form of gambling. Under current legislation, slot machines – better known locally as poker machines – are exclusive to community clubs in the Australian Capital Territory (ACT), making Canberra the only casino in Australia without any machines. But that looks set to change with the ACT Government announcing conditional support for 200 machines at the new casino provided Fung’s Aquis Entertainment, who purchased the current casino in 2014, abide to strict provisions. They include an amended development proposal, paying higher taxes than the clubs, making higher community donations and implementing more stringent harm minimization measures. Aquis had originally asked for 500 machines. Canberra’s slot machine numbers are currently capped at 4,994 with the government insisting it would not be raising the cap, meaning Aquis would have to purchase machines directly from the clubs at an estimated cost of anything from AU$18,000 to AU$50,000 per machine. The current redevelopment proposal aims to turn the small and tired Canberra Casino into a world-class facility including two hotels, VIP gaming facilities, high end restaurants and shops. This year’s G2E Asia gaming exhibition had no shortage of iGaming companies from across the globe showcasing their various products and services, but arguably the most prominent booth was occupied by Asian-based gaming software provider BBIN. An iGaming industry veteran, having launched back in 1999, BBIN has enjoyed a front row seat to this burgeoning sector of the industry and told IAG that business was booming on the back of western online operators increasingly looking to break into the Asian market. “Since we joined G2E Asia in 2013 for the first time, it’s been our biggest annual event,” explained BBIN Executive Assistant Rick Lin. “What we provide is a bridge for western companies who want to enter the Asian market and need a local partner to help guide the way. Because we have been in the Asian market for many years we know the culture, we know what players want and we know the channels. “I think for most of the western companies here, if you don’t have a Chinese version of your product with Chinese language I don’t think you have any chance of breaking into the Asian market.”