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Luxury & Gaming

A view of Sotheby’s new space in Hong Kong. Photo: Facebook
Hong Kong property

Art houses Christie’s, Sotheby’s show off flashy new Hong Kong showrooms

The auction houses’ glammed up spaces are a reflection of their desire to change the way they conduct business.

Singapore

‘Unsatisfactory’: Singapore curtails Resorts World Sentosa’s casino licence

Hong Kong property

Omega leases another Hong Kong shop amid retail leasing pickup

Singapore

Singapore gives go ahead for cashless gambling at its casinos

Cashless betting will allow players at gaming tables and machines to use virtual credits, but not cryptocurrencies, from e-wallets.

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Officials emphasised that Singapore authorities have “no intention” of allowing cryptocurrency to be used as chips for casino gambling. Photo: Shutterstock
Mobile gaming

Black Myth: Wukong fans rush to fill China’s game-enabled hotels

Stay-and-play getaways in rooms with high-powered PCs prove popular among fans who lack their own hardware or just want to enjoy the game in a comfortable setting with friends.

Retailing

Shanghai’s all-in-price party complex draws young throngs despite economic jitters

Shanghai’s LKF? In an exclusive interview, gaming and esports kingpin Dino Ying explains how his nightlife hotspot INS is a hit with budget-conscious locals and tourists.

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United States

‘Las Vegas always reinvents itself’ – game-changing casino The Mirage shuts

Las Vegas casino The Mirage, opened in 1989 and famous for its dolphins, volcano and tropical island theme, has shut its doors. It will be turned into the guitar-shaped Hard Rock Las Vegas, opening in 2027.

The volcano attraction in front of The Mirage Hotel & Casino erupts in Las Vegas erupts for the second-to-last time on July 16, 2024. Photo: Getty Images via AFP
The Philippines

In Philippines, Chinese gambler-focused Pogos face fresh ban threat

A Philippine senator is calling for the Philippine Offshore Gaming Operator sector to be outlawed, citing a string of criminal activity ranging from human trafficking to scams.

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Macau

MGM China sees revenue soar as it achieves its highest ever market share

The Macau casino operator announced better-than-expected first-quarter earnings and has set its sights on maintaining its highest ever share of the mass market gaming segment.

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Thailand

All bets are off: will Thailand cash in as it spins the wheel on casinos?

The Buddhist kingdom plans to take a punt on legalised gambling as it rues the billions of dollars in untapped gaming revenue that’s been left on the table. But will it hit the jackpot?

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Industry insiders speculate a legalised gaming sector could rake in as much as US$5 billion a year for Thailand by the end of the decade. Image: Shutterstock/Kevin Wong
Banking & finance

HSBC summit: China’s young ultra-rich reshaping wealth management, art, luxury

Wealth management is transforming into ‘a new virtual format in addition to the traditional finance space’, asset manager says.

The artwork “Group’s Prophecy No.112, 2024” by Sun Yuan, is displayed at Art Central in Central, Hong Kong, on March 28, 2024. Photo: Sam Tsang
Luxury brands

Gucci’s China shock reverberates across luxury market amid spending slowdown

Fears of a slowdown in spending among Chinese shoppers have dogged the luxury industry for the better part of a year. Gucci’s sales slump may be a sign of things to come.

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ESG investing

Omega raises US$600,000 for eye charity Orbis through watch auction

The Swiss luxury brand recently auctioned 11 suitcases, each containing 11 MoonSwatch Moonshine Gold Hong Kong edition watches via Sotheby’s as part of its CSR efforts to support Orbis.

China economy

Editorial | US$80b market rout on games rules shows there is much to lose

Calm may have been restored for now, but mainland China regulators will now only be too aware to consider the financial impact of what they propose.

Feng Shixin has left his official role as the publication bureau chief at the Communist Party’s Central Propaganda Department, people say. Photo: Xinhua 新华社照片，北京，2022年9月1日 服贸会上感受科技亮点 9月1日，在国家会议中心，观众体验工体元宇宙GTVerse。 2022年中国国际服务贸易交易会于8月31日至9月5日在位于北京的国家会议中心和首钢园区举办，众多科技产品亮相展区，吸引观众驻足参观。 新华社记者 任超 摄
Hong Kong property

Hong Kong luxury retail sector likely to rebound in 2024 as brands return

Hong Kong’s luxury retail market is likely to regain some lost ground in 2024, say observers, as high-end brands return after an exodus sparked by 2019’s street protests and three years of pandemic restrictions.

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Industry observers are split about the pace and scale of recovery in luxury retail. Photo: Sam Tsang
North Korea

North Korea’s thwarted smugglers lay bare abusable UN sanctions regime

Japanese police raided a used-car showroom in Chiba recently on suspicion it had attempted to transfer a US$68,000 Lexus to North Korea, according to reports.

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India

World’s luxury brands eye India as Mumbai opens first mall for millionaires

As China’s economic growth slows, the world’s luxury brands are setting their sights on the Indian economy.

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China property

Shangri-La Hotel’s Hui Kuok embraces social media to share life, goals

Kuok Hui Kwong opened a Xiaohongshu account in October 2021, offering an insight into her life and thoughts. If there was one valuable lesson the Shangri-la heiress learned during the pandemic, it was the importance of telling a complete and authentic story to her audience.

Shangri-la’s Kuok Hui Kwong at her hotel in Admiralty, Hong Kong. Photo: Xiaomei Chen
Hong Kong property

Swiss watchmaker Audemars Piguet rents entire floor at The Henderson

Swiss luxury watch brand Audemars Piguet became the latest tenant to sign up for space at The Henderson in Central, lifting the occupancy of Henderson Land’s flagship commercial building to about 50 per cent.

Retailing

China’s gloomy economic outlook has taken the fizz out of consumer spending: PwC

The crisis in China’s real estate sector and high youth unemployment are among concerns weighing on consumer spending, according to a PwC report published on Tuesday.

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Macau

Sands China reports first profits since 2019 as full casino recovery beckons

Sands China reported its first quarterly profit since the end of 2019, ending cumulative losses of US$4.16 billion. A full recovery is just a question of time, analyst says.

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A bus stops outside Sands Macao in Macau in this file photo. Photo: Reuters
Retailing

‘C-beauty’ brands no longer ‘cheaper substitutes’, ready to rival L’Oreal, Dior in China

Chinese beauty brands are no longer being viewed as “cheaper substitutes” and are being regarded as premium products in China, with domestic names outperforming the broader market over the last five years, Euromonitor International said.

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C-beauty brands accounted for 28 per cent of retail sales among the top 20 brands sold in China last year, an increase from 14 per cent in 2017. Photo: Shutterstock Images
China's border reopening

French fashion tycoon’s visit shows importance of China’s huge luxury market

Since mainland China dropped all its travel curbs, the heads of the world’s most recognisable luxury brands have been making a beeline there, with French billionaire Bernard Arnault, the chairman and CEO of LVMH, the latest to make a high-profile visit.

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Banking & finance

Asia is the world’s most expensive region, Singapore takes top spot: report

The Global Wealth and Lifestyle Report says Asia remains the most expensive region in the world, with spending patterns of high-net-worth individuals confirming it is the most costly region to live well for the fourth year in a row

Japan

Asia’s gamblers to cash in on wave of legalisation, pressuring Macau

The establishment of new gaming centres would pose a major challenge for Macau, the world’s largest gambling hub which has gaming revenue six times that of the Las Vegas Strip.

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The establishment of new gaming centres in Asia would pose a major challenge for Macau, the world’s largest gambling hub. Photo: Shutterstock
Singapore

From pirates and prisoners to casino and golf: inside Singapore’s Sentosa Island

Sentosa, formerly known as ‘the island behind which lies death’, has a dark and brutal past – and very nearly became an oil refinery.

Resorts World Sentosa, on Sentosa Island, features one of Singapore’s two casinos, a Universal Studios theme park and the world’s second-largest oceanarium. Photo: AFP
Thailand

Are Galaxy, MGM casinos betting on Thailand amid Macau shift?

With the potential for Thailand and the UAE to legalise casinos in coming years, operators are seeking to get a head start.

Macau

Macau casinos hit the jackpot as return of mainland tourists fuels revenue surge

The return of mainland Chinese tourists boosted Macau casino revenues to 15.6 billion patacas (US$1.93 billion) in May, more than four times what they earned a year ago.

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Luxury & Gaming
News about the luxury and gaming sectors with a focus on developments in Hong Kong, Macau and China.
last updated:
9 September, 2024
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