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Friday 5 March 2021
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  • NEWS
    Melco says Cyprus integrated resort now scheduled to open in mid-2022

    Melco says Cyprus integrated resort now scheduled to open in mid-2022

    Pronet Gaming inks deal to add 12 TVBET games to platform

    Pronet Gaming inks deal to add 12 TVBET games to platform

    Taiwanese authorities charge 32 people with laundering US$4.4 billion via massive online gambling operation

    Taiwanese authorities charge 32 people with laundering US$4.4 billion via massive online gambling operation

    Landing says losses to fall for FY20 but unsure if stolen casino funds recoverable

    Questions raised over sale of football club Wigan Athletic by Hong Kong’s International Entertainment Corp

    Stanley Choi offloads 19% of stake in International Entertainment Corp to company CEO

    Going Global

    Crown receives formal notice that Melbourne license review suspended for Royal Commission

    Trending Tags

    • FEATURES
      Uneasy alliance

      Uneasy alliance

      Turning RG Japanese

      Turning RG Japanese

      2021: Japan IR – Crunch time part 2

      2021: Japan IR – Crunch time part 2

      Diving into digital

      Diving into digital

      10 years ago: Many happy returns

      10 years ago: Many happy returns

      RG and the  player journey

      RG and the player journey

      Trending Tags

      • PEOPLE
        Home is where the heart is

        Home is where the heart is

        Dave Smith: Smell of success

        Dave Smith: Smell of success

        Scientific Games insists liquidity position strong after adding US$480 million in debt, cutting costs

        Scientific Games appoints Eileen Moore Johnson as Executive Vice President and Chief Human Resources Officer

        Creation theory

        Creation theory

        Paltronics announces passing of Stephen Cowan, much-admired Managing Director

        Paltronics announces passing of Stephen Cowan, much-admired Managing Director

        Dark days

        POST-COVID2: The most transformative business shock of our lifetimes

        Trending Tags

        • COLUMNISTS
          Gateway to Japan

          OPINION: Japan seeking its pound of flesh

          Memories of the man that was Sheldon Adelson

          Memories of the man that was Sheldon Adelson

          Big money

          A decade of differentiation

          A decade of differentiation

          How to set up for IR success

          How to set up for IR success

          Macau: Taking a sensible approach to responsible gaming

          Macau: Taking a sensible approach to responsible gaming

          Trending Tags

          • TECH TALK
            Scientific Games granted approval for release of third Duo Fu Duo Cai game into Asia

            Scientific Games granted approval for release of third Duo Fu Duo Cai game into Asia

            Aristocrat launches new MarsX Portrait cabinet

            Aristocrat launches new MarsX Portrait cabinet

            Cat call

            Cat call

            Asia Pioneer Entertainment keeping up the pace in challenging times

            Asia Pioneer Entertainment keeping up the pace in challenging times

            Two more TVBET card games granted GLI certification

            Two more TVBET card games granted GLI certification

            Scientific Games granted approval for latest Jin Ji Bao Xi game “Singing Cats”

            Scientific Games granted approval for latest Jin Ji Bao Xi game “Singing Cats”

            Trending Tags

            • iGAMING
              TVBET expands through Alavara Digital partnership

              TVBET expands through Alavara Digital partnership

              Live-games integration as an effective marketing tool for increasing bets

              TVBET to enter the Montenegro iGaming market

              Manila restrictions ease as Duterte implements General Community Quarantine for National Capital Region

              Philippine police arrest eight alleged members of POGO-linked “kidnap for ransom” gang

              PAGCOR reveals substantial POGO revenue rise in 2018 as enforcement role defended

              Philippines court order preventing new 5% franchise tax could halt POGO exodus

              MGM Resorts looking to raise US$750 million via senior notes offering

              MGM Resorts considering US$13 billion takeover offer for Ladbrokes owner Entain

              Evolution launches world’s first online live Craps game

              Evolution launches world’s first online live Craps game

              Trending Tags

              • EVENTS
                Inside Asian Gaming to introduce unique event concept for Macau After Dark 8 at Portuguese restaurant Portucau

                Inside Asian Gaming to introduce unique event concept for Macau After Dark 8 at Portuguese restaurant Portucau

                Macau Wine & Dine returns this week with unique tasting event at Artyzen Grand Lapa Macau

                Macau Wine & Dine returns this week with unique tasting event at Artyzen Grand Lapa Macau

                Inside Asian Gaming names Portucau as venue for Macau After Dark 8 on 5 March 2021

                Inside Asian Gaming names Portucau as venue for Macau After Dark 8 on 5 March 2021

                Winter wonderland

                Clarion Gaming cancels this year’s ICE London

                AIGF leaders join SBC Digital India’s high-level speaker line-up

                AIGF leaders join SBC Digital India’s high-level speaker line-up

                Winter wonderland

                Alex Pratt, Stuart Hunter take the reins as ICE organizer Clarion Gaming announces management changes

                Trending Tags

                • MACAU
                  Inside Asian Gaming to introduce unique event concept for Macau After Dark 8 at Portuguese restaurant Portucau

                  Inside Asian Gaming to introduce unique event concept for Macau After Dark 8 at Portuguese restaurant Portucau

                  Analysts agree VIP sector woes to remain for years to come

                  Macau government sees gaming tax revenue fall 63.6% year-on-year in January

                  4Q20 key metrics for Macau gaming companies

                  4Q20 key metrics for Macau gaming companies

                  Closing all borders not an option despite government order to shutter 41 Macau casinos for 15 days

                  Macau casinos to no longer require negative COVID-19 test result for entry

                  IAG welcomes sponsors and supporters ahead of Macau After Dark 8

                  IAG welcomes sponsors and supporters ahead of Macau After Dark 8

                  Occupancy rate of Macau hotels falls to 40.3% in January

                  Occupancy rate of Macau hotels falls to 40.3% in January

                  Trending Tags

                  • JAPAN
                    Las Vegas Sands unlikely to return to Japan despite potential Tokyo lure

                    Japanese Minister says interest of foreign companies shows Japan’s IRs will be profitable

                    IAG Vice Chairman and CEO Andrew W Scott among speakers as Nagasaki hosts first symposium on international tourism HR development

                    IAG Vice Chairman and CEO Andrew W Scott among speakers as Nagasaki hosts first symposium on international tourism HR development

                    Gateway to Japan

                    Pixel Companyz reports US$8.8 million loss in FY20 but confident in revenue potential of Nagasaki IR

                    Pixel Companyz recruits Japanese Olympic gymnast Kohei Uchimura as ambassador for Nagasaki IR bid

                    Pixel Companyz recruits Japanese Olympic gymnast Kohei Uchimura as ambassador for Nagasaki IR bid

                    Akimoto arrested for fourth time in Japan IR bribery case

                    Trial of Japanese politician Tsukasa Akimoto on bribery charges set for 29 March

                    Lawrence Ho says Melco’s China ties will drive Japanese IR growth

                    Lawrence Ho says Melco still committed to Japan but looking for the “right opportunity”

                    Trending Tags

                    • REGIONAL
                      • All
                      • Africa
                      • Australia
                      • Cambodia
                      • China
                      • CNMI
                      • Europe
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                      • India
                      • Japan
                      • Laos
                      • Latin America
                      • Macau
                      • Malaysia
                      • Nepal
                      • New Zealand
                      • North America
                      • North Korea
                      • Philippines
                      • Russia
                      • Singapore
                      • South Korea
                      • Sri Lanka
                      • Thailand
                      • Vietnam
                      Melco says Cyprus integrated resort now scheduled to open in mid-2022

                      Melco says Cyprus integrated resort now scheduled to open in mid-2022

                      Pronet Gaming inks deal to add 12 TVBET games to platform

                      Pronet Gaming inks deal to add 12 TVBET games to platform

                      Landing says losses to fall for FY20 but unsure if stolen casino funds recoverable

                      Questions raised over sale of football club Wigan Athletic by Hong Kong’s International Entertainment Corp

                      Stanley Choi offloads 19% of stake in International Entertainment Corp to company CEO

                      Going Global

                      Crown receives formal notice that Melbourne license review suspended for Royal Commission

                      Proposal submitted for new US$2 billion casino resort development in Vietnam’s Khanh Hoa Province

                      Proposal submitted for new US$2 billion casino resort development in Vietnam’s Khanh Hoa Province

                      Trending Tags

                      • POWER 50
                        2020 Asian Gaming Power 50: Top of the World

                        Singapore Court of Appeals denies Bloomberry’s latest appeal in long-running battle with GGAM over terminated Solaire agreement

                        Power restored

                        Power restored

                        2020 Asian Gaming Power 50: Top of the World

                        2020 Asian Gaming Power 50: Top of the World

                        2020 Asian Gaming Power 50: Meet the panel

                        2020 Asian Gaming Power 50: Meet the panel

                        2020 Asian Gaming Power 50: Ones to watch

                        2020 Asian Gaming Power 50 list

                        2020 Asian Gaming Power 50: Number 4 – Lawrence Ho

                        2020 Asian Gaming Power 50: Number 1 – Francis Lui

                        Trending Tags

                        • 中文
                        • 日本語
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                        IAG
                        • NEWS
                          Melco says Cyprus integrated resort now scheduled to open in mid-2022

                          Melco says Cyprus integrated resort now scheduled to open in mid-2022

                          Pronet Gaming inks deal to add 12 TVBET games to platform

                          Pronet Gaming inks deal to add 12 TVBET games to platform

                          Taiwanese authorities charge 32 people with laundering US$4.4 billion via massive online gambling operation

                          Taiwanese authorities charge 32 people with laundering US$4.4 billion via massive online gambling operation

                          Landing says losses to fall for FY20 but unsure if stolen casino funds recoverable

                          Questions raised over sale of football club Wigan Athletic by Hong Kong’s International Entertainment Corp

                          Stanley Choi offloads 19% of stake in International Entertainment Corp to company CEO

                          Going Global

                          Crown receives formal notice that Melbourne license review suspended for Royal Commission

                          Trending Tags

                          • FEATURES
                            Uneasy alliance

                            Uneasy alliance

                            Turning RG Japanese

                            Turning RG Japanese

                            2021: Japan IR – Crunch time part 2

                            2021: Japan IR – Crunch time part 2

                            Diving into digital

                            Diving into digital

                            10 years ago: Many happy returns

                            10 years ago: Many happy returns

                            RG and the  player journey

                            RG and the player journey

                            Trending Tags

                            • PEOPLE
                              Home is where the heart is

                              Home is where the heart is

                              Dave Smith: Smell of success

                              Dave Smith: Smell of success

                              Scientific Games insists liquidity position strong after adding US$480 million in debt, cutting costs

                              Scientific Games appoints Eileen Moore Johnson as Executive Vice President and Chief Human Resources Officer

                              Creation theory

                              Creation theory

                              Paltronics announces passing of Stephen Cowan, much-admired Managing Director

                              Paltronics announces passing of Stephen Cowan, much-admired Managing Director

                              Dark days

                              POST-COVID2: The most transformative business shock of our lifetimes

                              Trending Tags

                              • COLUMNISTS
                                Gateway to Japan

                                OPINION: Japan seeking its pound of flesh

                                Memories of the man that was Sheldon Adelson

                                Memories of the man that was Sheldon Adelson

                                Big money

                                A decade of differentiation

                                A decade of differentiation

                                How to set up for IR success

                                How to set up for IR success

                                Macau: Taking a sensible approach to responsible gaming

                                Macau: Taking a sensible approach to responsible gaming

                                Trending Tags

                                • TECH TALK
                                  Scientific Games granted approval for release of third Duo Fu Duo Cai game into Asia

                                  Scientific Games granted approval for release of third Duo Fu Duo Cai game into Asia

                                  Aristocrat launches new MarsX Portrait cabinet

                                  Aristocrat launches new MarsX Portrait cabinet

                                  Cat call

                                  Cat call

                                  Asia Pioneer Entertainment keeping up the pace in challenging times

                                  Asia Pioneer Entertainment keeping up the pace in challenging times

                                  Two more TVBET card games granted GLI certification

                                  Two more TVBET card games granted GLI certification

                                  Scientific Games granted approval for latest Jin Ji Bao Xi game “Singing Cats”

                                  Scientific Games granted approval for latest Jin Ji Bao Xi game “Singing Cats”

                                  Trending Tags

                                  • iGAMING
                                    TVBET expands through Alavara Digital partnership

                                    TVBET expands through Alavara Digital partnership

                                    Live-games integration as an effective marketing tool for increasing bets

                                    TVBET to enter the Montenegro iGaming market

                                    Manila restrictions ease as Duterte implements General Community Quarantine for National Capital Region

                                    Philippine police arrest eight alleged members of POGO-linked “kidnap for ransom” gang

                                    PAGCOR reveals substantial POGO revenue rise in 2018 as enforcement role defended

                                    Philippines court order preventing new 5% franchise tax could halt POGO exodus

                                    MGM Resorts looking to raise US$750 million via senior notes offering

                                    MGM Resorts considering US$13 billion takeover offer for Ladbrokes owner Entain

                                    Evolution launches world’s first online live Craps game

                                    Evolution launches world’s first online live Craps game

                                    Trending Tags

                                    • EVENTS
                                      Inside Asian Gaming to introduce unique event concept for Macau After Dark 8 at Portuguese restaurant Portucau

                                      Inside Asian Gaming to introduce unique event concept for Macau After Dark 8 at Portuguese restaurant Portucau

                                      Macau Wine & Dine returns this week with unique tasting event at Artyzen Grand Lapa Macau

                                      Macau Wine & Dine returns this week with unique tasting event at Artyzen Grand Lapa Macau

                                      Inside Asian Gaming names Portucau as venue for Macau After Dark 8 on 5 March 2021

                                      Inside Asian Gaming names Portucau as venue for Macau After Dark 8 on 5 March 2021

                                      Winter wonderland

                                      Clarion Gaming cancels this year’s ICE London

                                      AIGF leaders join SBC Digital India’s high-level speaker line-up

                                      AIGF leaders join SBC Digital India’s high-level speaker line-up

                                      Winter wonderland

                                      Alex Pratt, Stuart Hunter take the reins as ICE organizer Clarion Gaming announces management changes

                                      Trending Tags

                                      • MACAU
                                        Inside Asian Gaming to introduce unique event concept for Macau After Dark 8 at Portuguese restaurant Portucau

                                        Inside Asian Gaming to introduce unique event concept for Macau After Dark 8 at Portuguese restaurant Portucau

                                        Analysts agree VIP sector woes to remain for years to come

                                        Macau government sees gaming tax revenue fall 63.6% year-on-year in January

                                        4Q20 key metrics for Macau gaming companies

                                        4Q20 key metrics for Macau gaming companies

                                        Closing all borders not an option despite government order to shutter 41 Macau casinos for 15 days

                                        Macau casinos to no longer require negative COVID-19 test result for entry

                                        IAG welcomes sponsors and supporters ahead of Macau After Dark 8

                                        IAG welcomes sponsors and supporters ahead of Macau After Dark 8

                                        Occupancy rate of Macau hotels falls to 40.3% in January

                                        Occupancy rate of Macau hotels falls to 40.3% in January

                                        Trending Tags

                                        • JAPAN
                                          Las Vegas Sands unlikely to return to Japan despite potential Tokyo lure

                                          Japanese Minister says interest of foreign companies shows Japan’s IRs will be profitable

                                          IAG Vice Chairman and CEO Andrew W Scott among speakers as Nagasaki hosts first symposium on international tourism HR development

                                          IAG Vice Chairman and CEO Andrew W Scott among speakers as Nagasaki hosts first symposium on international tourism HR development

                                          Gateway to Japan

                                          Pixel Companyz reports US$8.8 million loss in FY20 but confident in revenue potential of Nagasaki IR

                                          Pixel Companyz recruits Japanese Olympic gymnast Kohei Uchimura as ambassador for Nagasaki IR bid

                                          Pixel Companyz recruits Japanese Olympic gymnast Kohei Uchimura as ambassador for Nagasaki IR bid

                                          Akimoto arrested for fourth time in Japan IR bribery case

                                          Trial of Japanese politician Tsukasa Akimoto on bribery charges set for 29 March

                                          Lawrence Ho says Melco’s China ties will drive Japanese IR growth

                                          Lawrence Ho says Melco still committed to Japan but looking for the “right opportunity”

                                          Trending Tags

                                          • REGIONAL
                                            • All
                                            • Africa
                                            • Australia
                                            • Cambodia
                                            • China
                                            • CNMI
                                            • Europe
                                            • Hong Kong
                                            • India
                                            • Japan
                                            • Laos
                                            • Latin America
                                            • Macau
                                            • Malaysia
                                            • Nepal
                                            • New Zealand
                                            • North America
                                            • North Korea
                                            • Philippines
                                            • Russia
                                            • Singapore
                                            • South Korea
                                            • Sri Lanka
                                            • Thailand
                                            • Vietnam
                                            Melco says Cyprus integrated resort now scheduled to open in mid-2022

                                            Melco says Cyprus integrated resort now scheduled to open in mid-2022

                                            Pronet Gaming inks deal to add 12 TVBET games to platform

                                            Pronet Gaming inks deal to add 12 TVBET games to platform

                                            Landing says losses to fall for FY20 but unsure if stolen casino funds recoverable

                                            Questions raised over sale of football club Wigan Athletic by Hong Kong’s International Entertainment Corp

                                            Stanley Choi offloads 19% of stake in International Entertainment Corp to company CEO

                                            Going Global

                                            Crown receives formal notice that Melbourne license review suspended for Royal Commission

                                            Proposal submitted for new US$2 billion casino resort development in Vietnam’s Khanh Hoa Province

                                            Proposal submitted for new US$2 billion casino resort development in Vietnam’s Khanh Hoa Province

                                            Trending Tags

                                            • POWER 50
                                              2020 Asian Gaming Power 50: Top of the World

                                              Singapore Court of Appeals denies Bloomberry’s latest appeal in long-running battle with GGAM over terminated Solaire agreement

                                              Power restored

                                              Power restored

                                              2020 Asian Gaming Power 50: Top of the World

                                              2020 Asian Gaming Power 50: Top of the World

                                              2020 Asian Gaming Power 50: Meet the panel

                                              2020 Asian Gaming Power 50: Meet the panel

                                              2020 Asian Gaming Power 50: Ones to watch

                                              2020 Asian Gaming Power 50 list

                                              2020 Asian Gaming Power 50: Number 4 – Lawrence Ho

                                              2020 Asian Gaming Power 50: Number 1 – Francis Lui

                                              Trending Tags

                                              • 中文
                                              • 日本語
                                              No Result
                                              View All Result
                                              IAG
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                                              2020 Asian Gaming Power 50: Number 8 – Matt Maddox

                                              Newsdesk by Newsdesk
                                              Sunday 8 November 2020 at 11:53
                                              2020 Asian Gaming Power 50: Number 50 – Stephen Ho
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                                              DIRECTOR AND CEO
                                              Wynn Resorts

                                              CEO AND EXECUTIVE DIRECTOR
                                              Wynn Macau

                                              POWER SCORE: 1,749
                                              POSITION LAST YEAR:9

                                              CLAIMS TO FAME

                                              • Has overseen a refreshing of the Wynn Resorts board following Steve Wynn’s departure
                                              • Long-time Wynn Resorts servant, having joined the company in 2002

                                              With the fallout from the Steve Wynn sexual harassment saga now, for the most part, a distant memory, CEO Matt Maddox has finally been able to focus his energies on driving Wynn Resorts to a bright and far less troublesome future. Or at least, that was the plan before COVID-19 brought the industry to a halt.

                                              On 17 March, Wynn became one of the first major US operators to shut down its Las Vegas Strip properties as the virus took hold – initially for two weeks but ultimately for almost three months before reopening with limited operations in early June.

                                              To its credit, the company refrained from furloughing staff during those first few months, keeping around 15,000 employees on full pay through much of May at a cost of around US$250 million. That’s the sort of PR success Wynn has been craving in recent times.

                                              Nevertheless, COVID-19 has hit the company hard both domestically and abroad. Group-wide revenues in the second quarter of 2020 fell 94.8% year-on-year to just US$85.7 million with a loss of US$637.6 million. Incredibly, low volume and bad luck saw the company’s Macau casinos – Wynn Macau and Wynn Palace – combine for a loss of US$15 million on actual casino play, an unheard of occurrence over a three month period.

                                              In response, Wynn Resorts moved quickly to shore up liquidity with a US$600 million notes offering in May, followed by two offerings by Wynn Macau Ltd in June and August totaling around US$1.6 billion combined.

                                              It was also revealed in August that the company had shut down its Yokohama office, drastically winding back its pursuit of an integrated resort license in Japan.

                                              Maddox told analysts during the company’s 2Q20 earnings call that Wynn had been closely monitoring the Japanese market and had “decided that until there is more clarity on what the business is going to look like, what the world is going to look like and what the regulations really are over there we’re pretty much ceasing our efforts. We did that about four months ago.

                                              “It doesn’t mean we’re not interested in the market, it just means that right now it’s not a focus for our company.”

                                              Time will tell if recent delays to Japan’s IR timeline will allow Wynn an opportunity to reinvigorate its efforts there.

                                              Wynn continues to be impacted by COVID-19, revealing in September that 3.6% of its workforce, representing 548 staff, had tested positive to COVID-19 since Wynn Las Vegas reopened on 4 June.

                                              However, at board level at least, Maddox has managed to achieve some much-needed stability over the past 12 months with the current Wynn Resorts board bearing little resemblance to the one accused of turning a blind eye to the indiscretions of its founder.

                                              It was also Maddox who has driven efforts over the past two years to end a series of long-running legal battles, including a decision by Wynn Resorts to drop all claims against Kazuo Okada stemming from his 2012 dismissal from the board, and a US$2.6 billion settlement agreement with Okada’s former companies, Aruze USA and Universal Entertainment, relating to the forced redemption of their shares.

                                              That frees the company up to focus on the road ahead, with Wynn Las Vegas having earlier this year unveiled a new 430,000-square foot convention space and Wynn Macau preparing to develop Phase 2 of Wynn Palace.

                                              For the full list of 2020 Asian Gaming Power 50 winners, click here.

                                              Tags: Current Issue
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                                              Newsdesk

                                              Newsdesk

                                              The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

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                                              by Newsdesk
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