inside asian gaming 日本稅收震盪 銀娛支持中小企 IR風貌之變 Japan tax tremors Galaxy standing by SMEs JAN #175 | 45 MOP The changing face of IRs 2021年 1月

2021：日本IR

關鍵時刻2021: Japan IR CRUNCH TIME

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JAN CONTENTS2021年 1月 內容

Cover : 封面

Inside Asian Gaming

12 Daily Briefs

COLUMNISTS JAPAN 44 Big money 78 Taxation tremors “Even in the high tech world of today’s casino operations, sometimes IAG takes a deeper look at how Japan’s tax system for IRs will work it’s the simplest solutions that work best”, says industry veteran when it comes to taxing local residents, after the government recently Steve Karoul. revealed foreigners will be exempt from paying tax on winnings.

JAPAN 10 YEARS AGO 52 In safe hands 86 Stellar initiative IAG sits down with Dr Naoyuki Nishimura, chairman of the Recovery In this new regular feature from IAG, we look back at our cover story Support Network, to discuss his work assisting pachinko players from exactly 10 years ago, titled “Stellar initiative,” to rediscover with a gambling problem. what was making the news in January 2011!

FEATURES FEATURES 58 A spirit of Social Responsibility 92 Creating an RG culture beyond the boardroom IAG meets the owners of three local SMEs at Broadway Macau RGC Managing Director and Director of the Centre for the to find out how partnering with Galaxy Entertainment Group has Advancement of Best Practices Janine Robinson discusses the helped them reach dizzying new heights. importance of imbedding RG into a company’s culture.

COLUMNISTS 68 A decade of differentiation 98 EVENTS CALENDAR As we head towards a post-COVID world, casinos must follow the lead of other gaming and entertainment sectors by diversifying their offerings and exploring new verticals.

6 IAG JAN 2021年1月 亞博匯 COVER STORY 20 封面故事 2021: Japan IR Crunch Time 2021：日本IR In this first instalment of a two-part 關鍵時刻 article, we take a look at where the IR 我們將在本文的第一部分中審視到底這場在 situation in Japan currently stands in this 日本已經延續超過十年的超長IR馬拉松競賽 decades-long ultra-marathon. 已經去到那一個階段。

12 亞博匯早報

專欄 日本 44 大錢 78 稅收震盪 根據在娛樂場業界內資歷深厚的Steve Karoul所言，即使在現今娛樂 在日本政府最近公佈海外人士在賭場贏取的獎金可獲豁免徵稅後，《 場運作中已用上大量高科技技術，但有時候最簡單的解決方案才最 亞博匯》深入剖釋日本綜合度假村（IR）稅制能夠如何有效地向當地居 有 用。 民徵稅。

日本 十年之前 52 博安一線牽 86 恆星計劃 《亞博匯》與Recovery Support Network會長西村直之醫生詳談他如 在《亞博匯》的這個最新常設專欄中，我們將每個月回顧一篇十年前 何協助受賭博問題困擾的彈珠機玩家。 的那些封面故事，本月我們回顧的是2011年1月的封面故事。

特寫 特寫 58 企業社會責任精神 92 在董事會外創建負責任博彩文化 《亞博匯》對話位於澳門百老匯美食街的三家餐飲業中小企的經營 RGC董事總經理及最佳實踐推廣中心負責人Janine Robinson探討了 者，深入了解和銀河娛樂集團的此種合作是如何助力他們的事業攀 將RG融入公司文化的重要性。 上新高峰。

專欄 68 98 差異化時代 活動日程 當我們步入後疫情時代時，賭場必須促進產品多樣化和探索新的垂 直市場，以緊隨其他遊戲和娛樂領域的步伐。

IAG JAN 7 2021年1月 亞博匯 EDITORIAL SALES & MARKETING 編輯 營業及市場 Managing Editor Assistant Vice President Ben Blaschke 執行編輯 of Sales and Business 本思齊 助理副總裁 - 銷售及業務發展 Development Editor at Large 何敬斌 Muhammad Cohen Jadeson Ho 特邀編輯 Muhammad Cohen 客戶關係經理 Deputy Editor Client Relationship Oscar Guijarro Manager 副編輯 邱嘉汶 Caroline Iau 金成安 Journalists 行政 Tomo Yamamoto CORPORATE 記者 Shintaro Kamimura 山本 智行 上村 慎太郎 董事會副主席兼首席執行官 Vice Chairman and CEO Graphic Designer 卓弈 Ailsa Tang Andrew W Scott 平面設計師 Ailsa Tang Chinese Editor Director of Events and 活動及項目總監 Wendi Song Projects 中文編輯 萬淑華 Victoria Man 宋文娣 Subeditor Ray Granlund 助理編輯 負責人 Director 威光良 Cynthia Cheang 鄭詩韻 Contributors 撰稿人 Carlos Eduardo Coelho 行政管理人 Sudhir H. Kalé Administrator Carlos Eduardo Coelho Steve Karoul Ana Fan Sudhir H. Kalé 范嘉靜 Dr Glenn McCartney Steve Karoul Dr Glenn McCartney Rui Pinto Proença Director of Accounting 會計及合規總監 Michael Zhu Sue Liang Rui Pinto Proença 朱靜瑋 梁瑞歡

廣告查詢 新聞稿 查詢 ADVERTISING ENQUIRIES PRESS RELEASES ENQUIRIES Must Read Publications Jadeson Ho Ben Blaschke [email protected] Must Read [email protected] [email protected] 出版有限公司 +853 6331 5577 +853 2883 6497 | Price MOP$45 母公司是 is a subsidiary of Inside Asian Gaming 亞博匯 Macau registered publication number 295 澳門註冊出版號295 Published by Must Read Publications Ltd Macau registered press company number EP98 由澳門Must Read出版有限公司出版 澳門註冊新聞公司編號EP98 Printed by Cochin Advertising Printing Service Co., Ltd. 由彩美廣告印務有限公司印刷 EM Macau, Est. Marginal da Ilha Verde, N°S 澳門青州河邊馬路1281-1291號 1281-1291 Kam Loi Kong Ip Tai, Ha 2° Andar H 金來工業大廈2樓H座

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8 IAG JAN 2021年1月 亞博匯

EDITORIAL

A year in time

year is a long time in our usually fast- wouldn’t give to have those same problems today… moving industry, but there is no doubt that the plan was officially scrapped in May. 2020 felt much longer than most. In the Philippines, all eyes were on the Philippine I was pondering this notion over the Offshore Gaming Operators (POGO) amid growing ChristmasA and New Year’s break and found myself pressure from both China and local opposition groups looking back to this same time last year. What was it to better regulate the industry. Such pressure, which shaping our hopes and dreams as 2019 came to an followed a move by Cambodia to cancel all online end? Needless to say, it wasn’t COVID-19! gaming licenses from 1 January 2020, included calls It’s hard to believe that just 12 months ago it was for greater control over the influx of foreign POGO all business as usual in the world’s major casino workers and various proposals to increase tax revenue jurisdictions, with Macau particularly excited about – despite the Department of Finance revealing in the long-awaited launch of the Taipa light rail in January that it had collected US$126 million in POGO December which brought 60,000 passenger journeys taxes in 2019. on its first three days of operation. Meanwhile, the Philippines exited 2019 on a high Ironically, Macau authorities also entered 2020 in with Okada Manila reporting record visitation and GGR discussions over introducing a new tourist tax as a and Solaire Resort & Casino reaching new heights in means of solving issues of “over-tourism.” What they mass market table and slot GGR.

www.asgam.com 編者寄語

年，又過年

我們這個通常步伐非常急促的行業，一年是一 在日本，綜合度假村(IR)戰場於過年期間收窄，當時北海 個很長的時間，但毫無疑問，2020年給人的感 道及千葉均確認退出爭奪日本IR，北九州市亦緊隨其後。在新 覺卻是比其他年份都過得更長。 冠大流行疫情期間的少數好消息中，有些是關於北海道。 我在聖誕及新年休假時就在思考這件事，並讓 那些繼續努力落實IR計劃的地方當中，和歌山在2019年 我回想到底在去年這個時間，到底在2019年完結時有甚麼左 10月宣佈有意在2020年下半年選擇IR營運夥伴。同時，長崎公 右著我們的希冀和盼望呢？毫無疑問，當然不是新冠疫情！ 佈其《綜合度假村落實政策》草稿，並計劃於春季啟動建議書 很難相信僅僅在12個月前，世界主要的娛樂場司法管轄 徵集程序。由於中央政府原本定於2021年1月進行的篩選時間 為區都運作如常。澳門就在12月興奮地迎來了期待已久的氹仔 表延期至10月，這兩個地方都推遲了各自的行動。 輕軌開幕，並在首三日營運中錄得6萬人次乘搭。 就新冠疫情而言，《亞博匯》於2020年的頭一篇文章原來 諷刺的是，澳門當局在進入2020年時亦正討論是否增設 就預示了隨後12個月所發生的事。 旅客稅，以解決「旅客逼爆」的問題。想像一下他們今天會願意 2020年1月5日，我們完結了短暫的聖誕休假，並報道了澳 犧牲多少東西來讓這個問題重現⋯⋯該計劃隨後於5月正式 門博彩監察協調局及衛生局的官員與特區的六間賭場營運商 終 止。 代表會面，簡介預防疾病爆發的新措施。 在菲律賓，焦點落在菲律賓離岸博彩營運商(POGO）行業， 《亞博匯》當時報道，該會議是回應在中國武漢爆發的肺 因為中國及當地反對團體施壓要求更好地管理規範有關領域。 炎，並且警告一些本地居民已經把病毒帶回澳門。 緊隨著柬埔寨於2020年1月1日廢除所有網上博彩牌照的決定， 當日整整一個月後，由於新冠病毒對於我們行業的衝擊 菲律賓所面對的壓力還包括那些要求更好地控制海外POGO員 已然十分明顯，因此全澳41間娛樂場關門15天。 工流入的呼聲，以及多項增加稅收的建議—即使該國財政部在 讓我們一起祈願，2021年會有更好的光景。 1月透露，已經在2019年從行業徵得1.26億美元稅款。 本思齊 同時，菲律賓當時亦以騰飛的姿態告別2019年，當中岡田 執行編輯 我們樂於聽到您的反饋 馬尼拉錄得破紀錄的到訪人數及博彩總收入，而晨麗娛樂場 [email protected] 及渡假城則在中場賭枱及角子機博彩總收入上創新高。 請將您的想法發送至

In Japan, the IR field narrowed around the turn of As for COVID-19 itself, IAG’s very first article of 2020 the year with Hokkaido and Chiba both confirming their turned out to be a precursor of what was to follow over withdrawal from Japan’s IR race, followed shortly after the next 12 months. by Kitakyushu. In one of the few positives to emerge On 5 January 2020, we reported that officials from from the COVID-19 pandemic, there have been some Macau’s Gaming Inspection and Coordination Bureau recent murmurings that Hokkaido may reconsider its and the Health Bureau had met with representatives of position as a result of the extra time COVID-19 has the SAR’s six casino concessionaires to brief them on new provided to complete important environmental studies. measures aimed at preventing the outbreak of disease. Of those continuing to push forward with IR plans, The meeting, IAG said at the time, was in response Wakayama announced in December 2019 its intention to a recent outbreak of pneumonia in Wuhan, China, to settle on an IR operator partner by fall of 2020, and warnings that some local residents had carried the while Nagasaki released its draft IR Implementation virus back to Macau. Policy with plans to launch an RFP by the spring. Exactly one month later to the day, all 41 Macau Both have since been postponed, as has the national casinos shut their doors for 15 days, as the impact government’s own selection schedule – originally COVID-19 would have on our industry became planned to launch in January 2021 but now delayed abundantly clear. until October. Let’s hope for much better times ahead in 2021.

Ben Blaschke Managing Editor We crave your feedback. Please email your comments to [email protected].

zh.asgam.com 亞博匯早報 BREAKFAST BRIEFS

摩根士丹利： 澳門政府很可能將澳門 現有博彩專營權延長3年 MACAU GOVERNMENT LIKELY TO EXTEND MACAU GAMING CONCESSIONS FOR THREE YEARS: MORGAN STANLEY

THE MACAU SAR GOVERNMENT is likely to abandon plans to hold an open tender for gaming licenses before June 2022, instead 投資銀行摩根士丹利表示，澳門特區政府很有可 extending the current concessions for three years until 2025 能會放棄在2022年6月之前對賭牌重新競投的 due to time constraints brought about by COVID-19, according to 計劃，反而是將目前的牌照有效期延長三年至 investment bank Morgan Stanley. 2025年，主要還是由於新冠疫情導致時間緊迫。 In a note examining the government’s plans to finalize the 摩根士丹利在一份報告中研究了政府重 license renewal process by 2021 – thereby allowing for new 新競投的程序計劃，政府計劃明年應完成重新 licenses to be issued by the time current concessions expire in 競投的程序，從而能夠保證在現有賭牌於2022 2022 – analysts Praveen Choudhary, Gareth Leung and Thomas 年到期之前新賭牌可以順利發放。其中分析師 Allen outline the reasoning that makes them consider such a tight Praveen Choudhary、Gareth Leung和Thomas timeline impracticable. Allen列舉了他們認為由於時間緊迫而不太可能 In particular they point to the two-year extension granted SJM 完成相關計劃的原因。 Holdings and MGM China in 2019 which, aside from bringing them 他們特地指出，政府在2019年給予澳博控 into line with the other four concession holders, was also an issue 股及美高梅中國兩年賭牌的延期，除了令其與其 of time, “as necessary preparation for an open bidding process 他四大博企的賭牌同步到期之外，亦有時間因素 could not be finished before the licenses expired. 的考慮，「因為公開招標的必要準備工作不能在 “We believe we are in a similar situation due to COVID-19,” they 賭牌到期之前完成。」 state. 他們稱：「由於新冠疫情，我們正處於類似的 “For open bidding to happen, Macau has to run a public 處 境。」 consultation, and then put the new law in the Legislative Assembly 「要進行公開招標，澳門須首先進行公眾咨 (the draft is not ready yet), which could take more than a year.” 詢，然後將新法律提交立法會（草案尚未準備就 As a result, the analysts “do not expect [the rebidding process] 緒），這可能就需要超過一年的時間。」 to happen in 2021/22 due to the time crunch.” 因而，分析師們認為，「由於時間緊張，並不 Morgan Stanley notes that a three-year extension seems most 認為重新競標的程序會在2021/22年發生。」 logical given the desire to keep the duration of current gaming 摩根士丹利同時表示，考慮到之前政府希望 concessions aligned. 保持當前的博彩專營權有效期一致，因而三年的 延期似乎最為合理。

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永利澳門稱EBITDA截至11月已經恢復正數 WYNN MACAU LTD SAYS EBITDA BACK TO POSITIVE THROUGH NOVEMBER

MACAU GAMING OPERATOR Wynn Macau Ltd says its gaming floor turnover climbed to 47% of 2019 levels, with GGR up to 31% and 澳門博彩運營商永利澳門有限公司表示，其娛樂 Adjusted EBITDA back into positive territory during the first two 場轉碼數已回升至2019年水平的47％，博彩總收 months of Q4. 入回升至31％，經調整後EBITDA在第四季度的前 In a filing, the company outlined vastly improved numbers since 兩個月重新恢復正數。 the start of October, having previously reported a 93.7% year- 該公司在一份文件中概述了自10月初以來， on-year decline in revenues in 3Q20 to US$67.1 million and an 情況有了大幅改善。此前該公司曾公佈，其2020 Adjusted EBITDA loss of US$112.1 million. 年第三季度收入按年減少93.7％至6710萬美元， Between 1 October and 30 November 2020, Wynn Macau Ltd 經調整後的EBITDA虧損為1.121億美元。 said its preliminary calculations showed total operating revenues 永利澳門稱，於2020年10月1日至11月30日， of between US$258 million and US$262 million for the two-month 據其初步資料顯示，該企的總收益在2.58億美元 period and Adjusted Property EBITDA in the range of US$13 million 至2.62億美元之間，經調整後的物業EBITDA在 to US$15 million. 1300萬美元至1500萬美元之間。 GGR was also back to 31% of 4Q19 levels with daily average 博彩總收入也回升至2019年第四季度平均 table–drop back to 47%. Operating expenses, excluding gaming 每日博彩毛收益的31％。平均每日賭枱投注額為 taxes, were US$2.3 million compared to US$3 million during the 2019年第四季約47%。澳門業務的每日經營成本 fourth quarter of 2019, while hotel occupancy was 54.3% at Wynn （不包括博彩稅）為230萬美元，而2019年第四季 Palace and 60.6% at Wynn Macau. Both were near 100% over the 度則為300萬美元。永利皇宮及永利澳門的入住 same period last year. 率分別為54.3%及60.6%。兩者於去年同期均接 近100%。

IAG JAN 13 2021年1月 亞博匯 亞博匯早報 BREAKFAST BRIEFS

博監局指有關澳門實行數字人民幣政策之報道「不實」 DICJ SAYS REPORTS OF DIGITAL YUAN COMING TO MACAU ARE “FAKE NEWS”

MACAU’S GAMING REGULATOR, the Gaming Inspection and Coordination Bureau, says a news report claiming the SAR government was considering introducing a cryptocurrency backed by China’s central bank is not true. According to the Bloomberg report, the government has been discussing with casino operators the prospect of introducing the digital yuan, which could be used to purchase gaming chips – providing Beijing with greater oversight over cash flow through Macau’s casinos. It would also strike another blow to Macau’s junket industry by reducing their ability to provide credit and exchange currency. “If applied widely, the digital yuan will bring a significant hit to both the VIP and mass segments,” said Zhou Jinquan, associate professor at the Centre for Gaming and Tourism Studies of Macau Polytechnic Institute, in the Bloomberg report. “It’ll breach customer privacy and restrict people’s betting amount to the potential conversion cap 澳門博彩監察協調局日前表示，有關特區政府正在考慮引入內地 imposed on the digital yuan to foreign currencies.” 央行主導之數字貨幣的報道為不實。 In response, the DICJ was quick to deny such plans, 彭博社早前報道，澳門政府正在與博企商討引入數字人民 issuing a short statement on Wednesday that read, 幣的可行性，其中主要是利用數字人民幣去購買籌碼，以令北京 “We hereby clarify that the use of digitized renminbi in 可以加強監管澳門賭場的資金流。這將對澳門博彩中介人業務造 casinos is a false report.” 成另一個打擊，令他們向顧客提供信貸和兌換貨幣的能力大大降 The regulator was recently forced to also deny 低。 reports that Macau’s government was actively 澳門理工學院博彩旅遊教學及研究中心周金泉在彭博的報 considering the introduction of online gambling as 道稱︰「一旦數字人民幣廣泛執行，將令貴賓廳和中場受到嚴重 a means of easing some of the pressure on casino 打 擊。」 operators brought about by the COVID-19 pandemic. 「這將侵犯顧客的隱私和限制他們的投注額，某程度上限制 A similar measure is currently being introduced in 數字人民幣與外幣的兌換。」 the Philippines, where PAGCOR has granted some 博監局早前亦否認澳門政府正積極考慮引入網絡博彩以協 operators permission to offer online gambling 助博彩業界在疫後恢復的報道。 services. 菲律賓博彩監管機構PAGCOR近日已批准類似政策，准許部 分業者經營網絡博彩業務。

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日本稅務委員會確認外國訪客 在日本賭場贏得的金錢可獲免稅 JAPAN TAX COMMISSIONER CONFIRMS CASINO WINNINGS OF FOREIGN VISITORS WILL BE TAX EXEMPT

AKIRA AMARI, chairman of the Liberal Democratic Party’s tax 日本自由民主黨稅務委員會主席甘利明確認政 commission, has confirmed the government’s intention to adjust 府對於更改稅制的意向，讓外國訪客無需就從綜 the tax system so that “winnings” earned in an IR’s casino would 合度假村的娛樂場中贏得的金錢繳稅。自12月初 be tax exempt for foreign visitors to Japan. The plan was detailed to 自民黨舉行稅務委員會會議之後，隨即向記者詳 reporters following a meeting of the LDP’s tax commission in early 細披露該計劃，並反映在該黨於12月10日的黨內 December and reflected in the party tax reform outline published on 稅務改革計劃之中。 10 December. 甘利明在談及外國旅客時表示﹕「根據國際 “It should be fine to employ the method of tax exemption based on 標準來實行這種稅務豁免方式應該是沒有問題 international standards,” Amari said in regard to foreigners, adding, 的。」他續稱：「如果沒有人到訪我們開發的綜合 “If no one comes to an IR we develop, then it will all be pointless. We 度假村，那就變得沒有意義。我們需要與國際慣 need to keep with international norms.” 例保持一致。」 There had previously been a proposal from the Ministry of Finance 日本財務省早前曾提議向賭場內的彩金徵 to tax casino winnings – a concept that was met with dismay by 稅。這概念令到潛在投資者感到不悅，而現在這 potential investors – however this direction has now been scrapped. 個方向很有可能被放棄。 Under the revised plan, Japanese locals will be taxed in a similar 根據更改後的計劃，日本本地人會以一個與 way to other public sports and horseracing, where income tax is 公共體育及賽馬相似的方式被課稅，當中如果彩 taken if winnings exceed a certain amount. 金超過某個數目，將被徵收入息稅。

IAG JAN 15 2021年1月 亞博匯 亞博匯早報 BREAKFAST BRIEFS

新濠影滙將貴賓博彩 業務延長至2021年底 STUDIO CITY EXTENDS VIP ROLLING CHIP OPERATIONS UNTIL END OF 2021

STUDIO CITY INTERNATIONAL HOLDINGS LIMITED has announced it Studio City International Holdings Limited will continue offering VIP rolling chip operation at its Macau integrated 宣佈，其位於澳門的綜合度假村新濠影滙將繼續 resort, Studio City, for another 12 months until 31 December 2021. 提供貴賓廳泥碼服務，為期12個月，至2021年12 The move represents the second time Studio City has chosen 月31日。 to extend its VIP program after first revealing in early 2019 plans 這是新濠影滙在2019年初首次透露有意停 to cease VIP play. Although the company offered no reason for the 止貴賓博彩營運的計劃後第二次延遲該計劃。儘 decision at the time, analysts at brokerage Sanford C Bernstein 管當時該公司未透露此番決定的原因，但券商 suggested that Melco was looking to increase the profitability of Sanford C Bernstein的分析師們認為，新濠博亞 each VIP table by moving them to a more suitable property, namely 娛樂希望可以將貴賓賭枱轉移至更為合適的新濠 City of Dreams. 天地，從而提高單張貴賓賭枱的盈利水平。 Instead, Studio City International Holdings extended VIP 但是，繼Studio City International Holdings operations for another year in early 2020 and have now done so 在2020年初稱將其貴賓博彩業務延長一年之後， again, subject to termination by 30-day notice. 現在又再度宣佈延長。其須提前三十天通知終止。 The extension of VIP rolling chip comes as Studio City continues 就在新濠影滙宣佈此番延長貴賓業務計劃之 with its US$1.3 billion Phase 2 development. The expansion 際，其正進行著投資13億美元的第二階段開發。 project is due for completion by May 2022 under the terms of its 根據新濠與澳門政府簽訂的土地批給協議，該項 land concession with the Macau SAR Government, however parent 擴建項目須在2022年5月之前完成。但是其母公 company Melco Resorts & Entertainment noted last year that it may 司新濠博亞娛樂曾在去年較早時指出，由於新冠 struggle to meet the deadline as a result of COVID-induced delays. 肺炎疫情導致延誤，該工程可能難以如期完工。

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印度DELTA CORP 獲得臨時批准，將在果阿開發綜合度假村 INDIA’S DELTA CORP GRANTED APPROVAL TO DEVELOP INTEGRATED RESORT IN GOA

INDIA’S LEADING GAMING OPERATOR Delta Corp has revealed 印度領先的博彩營運商Delta Corp公佈了其已 plans to develop an integrated resort in the coastal state of Goa after 獲得當地旅遊局原則性批准，將在沿海的果阿開 receiving in-principal approval from the local tourism authority. 發綜合度假村。 In an announcement, Delta Corp said it had received the initial Delta Corp在其公告中表示，其已經獲得果 approval from the Goa Investment Promotion and Facilitation Board 阿投資促進委員會的初步批准，將在該州北部的 to establish an integrated resort consisting of hotels, convention Pernem建立一個綜合度假村，包括酒店、會議 center, multiplex cinema, retail area, electronic casino, water park 中心、綜合電影院、零售區、電子博彩場、水上樂 and other facilities at Pernem, located in the state’s north. 園及其他設施。 “The integrated resort is expected to be one of its kind in the 該公司表示：「該綜合度假村有望成為印度 country,” the company said. “The project is expected to boost 國內首屈一指的度假勝地。該項目有望促進果阿 tourism, employment and infrastructure of the state of Goa.” 的旅遊業、就業及基礎設施建設。」 Delta Corp, which operates three floating casinos on Goa’s Delta Corp現時在果阿的Mandovi River上 Mandovi River plus three land-based casinos in Goa and Sikkim, 經營三個水上賭場，以及在果阿及錫金經營三個 is the only casino firm in India to be listed on the National Stock 實體賭場。該公司是印度唯一一家在印度國家證 Exchange of India. 券交易所上市的博彩公司。 It also owns India’s most popular online poker and rummy site, 該公司擁有印度最受歡迎的在線撲克和拉 Adda52, and early this year opened a casino at the Marriott Hotel in 米紙牌網站Adda52，並於今年年初在尼泊爾加 Kathmandu, Nepal. 德滿都的萬豪酒店內開設了一家賭場。

IAG JAN 17 2021年1月 亞博匯 亞博匯早報 BREAKFAST BRIEFS

中國下架包括TRIPADVISOR 在內的105個APP TRIPADVISOR AMONG 105 APPS BANNED BY CHINA

CHINA’S CRACKDOWN on perceived threats by foreign companies 中國加大對國外公司針對中國公民的潛在 targeting Chinese citizens has escalated after the nation’s cyberspace 威脅的打擊力度。近期，中國國家互聯網信 watchdog ordered the removal of 105 apps, including global travel 息辦公室（網信辦）宣佈，從國內的應用程式 platform TripAdvisor, from local app stores. 商店中，移除105個應用程式，包括旅遊資訊 The Cyberspace Administration of China published a statement on its 應用程式貓途鷹（TripAdvisor）。 website in December in which it said the removal of apps was in response 網信辦12月在其網站上發佈了一份聲 to complaints from citizens about illegal services and content, including 明，稱針對網民反映部分移動應用程序傳播 gambling, being provided by certain apps. In particular it claimed the 淫穢色情、暴恐血腥等違法違規信息，提供 105 apps in question were “spreading obscene, pornographic, violent, 詐騙賭博、招嫖賣淫等違法違規服務的網絡 bloody and other illegal information, and providing illegal services such 亂象 as fraud, gambling and prostitution.“ 目前尚不清楚TripAdvisor為何位列其 It is not known exactly why TripAdvisor was included on the 中。不過最有可能的原因是，其可以搜索及 list although it is most likely due to the ability to search and book 預訂包括賭場在內的外國度假村的住宿。 accommodation at foreign resorts that include casinos. 該聲明還稱，國家網信辦依據網絡安全 The statement – which cites China’s Network Security Law plus 法、網絡信息內容生態治理規定、移動互聯 Regulations on the Ecological Governance of Network Information 網應用程序信息服務管理規定等法律法規， Content and Regulations on the Management of Mobile Internet 組織開展移動應用程序信息內容亂象專項 Application Information Services – also revealed that eight app stores 整治。並披露對未落實審核要求、上架違法 have been shut down for failing to fulfil audit requirements and for 違規應用程序的8家應用商店，依法依規採 making such content available. 取停止下載服務處置措施。 This latest move comes after China’s Ministry of Culture and Tourism 此前內地的文化和旅遊部曾在8月表 claimed in August that it had established a “blacklist” of overseas tourist 示，已經建立一份境外賭博旅遊目的地「黑 destinations it said were disrupting the nation’s outbound tourism 名單」，列出一些開設賭場吸引中國遊客、擾 market by opening casinos targeting mainland Chinese customers. 亂中國旅遊市場經營秩序的城市。

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COVER STORY

2021: Japan IR CRUNCH TIME

Owning and operating an integrated resort in Japan remains the undisputed holy grail of the global gaming industry. But introducing a totally new IR industry to Japan has been a rocky road with more twists than an Agatha Christie novel – and we’re far from done yet. In this first instalment of a two-part article, we take a look at where the IR situation in Japan currently stands in this decades-long ultra-marathon.

By Andrew W Scott

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2021：日本IR 關鍵時刻 為環球博彩業界而言在日本擁有及營運一間綜合度假村(IR)毫無 疑問依然是一個終極夢想。但把全新的IR行業引進日本一直都荊棘 滿途，橋段比小說更加峰迴路轉，而且我們連終點都還未看到。在 這篇分成兩部分的文章裏，我們會在第一篇中審視到底這場在日 本已經延續超過十年的超長IR馬拉松競賽已經去到哪一個階段。

文 卓弈

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隨著2016年《綜合度假村（IR）促進法案》和2018年《綜合度假勝地（IR）實施法案》的通過，人們 對日本首批IR的興趣激增。 Interest in Japan’s first IRs hit fever pitch with passage of theIntegrated Resort (IR) Promotion Act in 2016 and the Integrated Resorts (IR) Implementation Act in 2018.

apan has one of the world’s most developed a few years ago with the passage of the Integrated economies, consisting of a population of 126 Resort (IR) Promotion Act in 2016 and the subsequent million people with a GDP per capita around Integrated Resorts (IR) Implementation Act in 2018. US$40,000, making its US$5 trillion economy Seemingly every major IR company in the world threw the third largest in the world after the US their hat into the ring, with many talking a big game. and China. Its sumptuous food and beverage offerings, Potential investments in the billions were bandied Jwell-developed infrastructure, spectacular cityscapes, about – as much as US$10 billion or possibly more. beautiful countryside and unique, sophisticated But fast forward to 2021 after the crippling global culture all combine to create a highly coveted tourist pandemic of the past 12 months, and where, exactly, destination drawing visitors from across the planet. does the burgeoning Japanese IR industry sit today? One of the last remaining major developed economies of the world without a casino gaming WHY? industry, Japan has been talking about introducing Why does Japan even need an IR industry? It already such an industry for decades. Interest hit fever pitch has gaming options, dominated by the enormous (but

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其中一個最常用來解釋為何要把IR行業引進日本的原因， 是要重新振興經 濟，特別是對比較偏遠的地區而言。

The oft-stated justification for the introduction of an IR industry to Japan is a re-invigoration of the economy, particularly that of regional areas.

本是全世界其中一個最發達的經濟體，擁有1.26 但當我們來到2021年，在經歷了過去12個月那帶來嚴重破壞 億人口，人均國民總收入約4萬美元，令到這個 的全球大流行後，到底這個蓬勃發展的日本IR行業現在處於其麼 5兆美元的經濟體躋身美國及中國以後的第三 位置呢？ 大。那裏的奢華飲食選項、完善的基建設施、壯 觀的城市建築、美麗的郊外景色和獨特而成熟 為甚麼？ 的文化，一同編織出一個十分令人嚮往的旅遊目的地，並從世界 為甚麼日本需要一個IR行業呢？該國已經有其他的博彩選 各地引來了無數訪客。 項，當中稱霸市場的就是相當有份量(但正在逐步萎縮)的彈珠機 作為世界其中一個依然沒有娛樂場博彩行業的主要已發展 行業。該行業過去的博彩總收入可謂與澳門的IR行業並駕齊驅。 經濟體，日本在引進這行業上的討論已長達數十年，而在這方面 另外還有日本賽馬協會，該國的賽馬市場排名全球首位，在2019 日的興趣就在數年前達致頂峰。在2016年，日本通過了《綜合度假村 年的營業額高達270億美元。 促進法案》，其後亦在2018年通過《綜合度假村實施法案》。當時， 其中一個最常用來解釋為何要把IR行業引進日本的原因， 似乎世界各地所有的主要IR公司都表達了進場的興趣，當中有很 是要重新振興經濟，特別是在比較偏遠的地區。日本在戰後經 多都展示出希望大展拳腳的決心。潛在的投資額動輒就以十億計 歷了令人驚嘆的發展，由領先世界的汽車及電子產品行業所領 算，甚至可能高達100億美元或以上。 導，最後就以1980年代那惡名昭彰的資產泡沫作結。日本經濟

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steadily declining) pachinko industry, which historically has had a GGR in the same ballpark as that of Macau’s IR industry, and the Japan Racing Association, the world’s largest horseracing market with a whopping turnover of some US$27 billion in 2019. The oft-stated justification for the introduction of an IR industry to Japan is a re-invigoration of the economy, particularly that of regional areas. After spectacular post-war growth dominated by world- leading car and electronics industries and culminating in the infamous 1980s asset bubble, Japan’s economy collapsed in late 1991 and has never really recovered. Commentators initially referred to this phenomenon as the “lost decade”, but that decade is now nearly 30 years old. Japan’s interest rates hover around 0%, and her average annual GDP growth rate since the year 2000 has been glacial at just under 1%.

於1991年末正式崩潰，之後仍無法真正恢復。評論員一開始把這 個現象稱為「失落十年」，但那個「十年」現在已經長達近30年了。 日本的利率徘徊在0%的水平，該國年均國民生產總值增長率在 2000年之後亦不到1%。 日本也受到人口急速下降的影響，是全世界人口下降最快 的國家之一。預計到了2040年，日本人口將會從現時的1.26億下 降15%至1.07億，其他預測亦指出，日本人口到了2060年將跌至 只有8700萬。日本擁有全世界最多的老年人口，超過三分之一的 國民已年屆六旬或以上，全國的平均壽命則高達85歲。該國人口 中的百歲人口比例比任何國家都高出很多。 除了經濟停滯及人口下降外，日本亦由於其氣候、地形及所 處板塊的構造而經常遭受自然災害。僅僅在過去十年，該國已經 遭受過颱風、塌方、地震、海嘯甚至大型火山爆發的侵害。在2011 年發生的海嘯及其引起的福島核電廠災難，更是歷史上最昂貴 的自然災害，世界銀行估計其導致損失金額可能超過2000億美 元。

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這些因素都令到日本迫切地需要一些可以在廿一世紀推動 甚麼? 經濟的政策及措施。長期在位的前首相安倍晉三就是其中一個主 所以2020年出現了甚麼轉變？長話短說，很多。 要推動把IR行業引進日本的推手，並以此作為其中一項政策，目標 與全球近乎所有行業一樣，日本IR格局於2020年被新冠肺 是推動外來遊客的旅遊業。在2019年，日本接待了3200萬名遊客， 炎疫情所主導。這場大流行令許多外派到日本工作的國際IR企 當中960萬來自中國，比起5年前的240萬大幅增加。日本政府的目 業外籍高管「返回大本營」。更糟糕的是，疫情實際上令往返日本 標是在2030年招待6000萬名遊客，當中1800萬名預計將來自中 的行程變得不可能，這意味著國際IR企業代表無法與當地重要 國。 的利益相關者會面，包括政治人物、官員、承包商、潛在的合作財 安倍晉三在去九月以健康理由辭任日本首相，但他的接任人 團、投資銀行等等。跟許多人一樣，在疫情中，如Zoom和Micro- 菅義偉就在10月28日的日本國會眾議院講話中確認，相信IR為日 soft Teams等線上視像會議軟件成了新常態，某程度上成了替 本發展成旅遊目的地是十分重要的，並且重申會繼續前任支持IR 代選項，但始終未能取替面對面會議，特別在日本，與他人建立 的政策。這實在毫不出奇，因為日本的現任新首相正是安倍多年 關係是開展業務的重要一環，而且相關業務規模更高達數十億 的左右手，更被一些人視為安倍年代的「影子首相」。 元。

Japan suffers from one of the fastest declining Daiichi nuclear power plant was the most expensive populations in the world – the current 126 million is natural disaster in recorded world history – estimated projected to decline 15% to 107 million by 2040, and by the World Bank to have cost over US$200 billion. some estimate the population will fall to just 87 million All these factors see Japan in desperate need of by 2060. Japan has the highest proportion of elderly policies and initiatives to propel the economy forward citizens of any country in the world – more than a third in the 21st century. Former long-time Prime Minister of the population is over 60 years old and the national Shinzo Abe was a leading proponent of introducing average life expectancy is 85 years. It has far more an IR industry to Japan as one such policy, aimed centenarians per capita than any other country. at driving inbound tourism. In 2019 Japan hosted 32 On top of a stagnant economy and a declining million tourists, of which 9.6 million were from China, population, Japan also regularly suffers from natural up from just 2.4 million inbound Chinese tourists five disasters as a result of her climate, topography and the years earlier. The Japanese government has a total plate tectonics of the region. In just the past decade she inbound tourism target of 60 million visitors by 2030, of has been beset by typhoons, landslides, earthquakes, which around 18 million are expected to be from China. tsunamis and even a major volcanic eruption. The 2011 Abe resigned as Japan’s Prime Minister in tsunami and subsequent disaster at the Fukushima September last year for health reasons, but his

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日本是全球老齡人口比例最高的國家。 Japan has the highest proportion of elderly citizens of any country in the world.

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大阪仍被認為是最有可能開業日本首個綜合度假村的候選地區。 Osaka is still considered the most likely candidate to open Japan’s first integrated resort.

successor Yoshihide Suga spoke in the Japanese Diet’s expatriate executives from global IR companies who House of Representatives on 28 October, confirming had been working in Japan. Worse, it effectively made his belief that IRs are an important initiative for travel to and from Japan all but impossible, meaning Japan in becoming a developed tourist destination representatives of the world’s IR companies couldn’t and reiterating his intention to continue the pro-IR meet with key stakeholders such as politicians, policy of his predecessor. This is unsurprising given bureaucrats, contractors, potential consortium that Japan’s new PM was Abe’s right-hand man for partners, investment banks and the like. As many many years – even seen by some as a “shadow Prime have found in the new pandemic normal, online Minister” during the Abe years. videoconferencing software like Zoom and Microsoft Teams offer something of a substitute – but nothing WHAT? beats face to face meetings, particularly in Japan So, what changed in 2020? In short – a lot. where building personal relationships is such an As with just about every other industry across important part of doing business. And especially the planet in 2020, the Japanese IR landscape was when that business is on a scale of billions of dollars. dominated by the global coronavirus pandemic. The Another key factor to hit IRs in Japan in 2020 pandemic caused a rush “back to base” for many was the saga of Chinese online sports lottery

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另一個於2020年影響著日本IR行業的關鍵因素是，中國線上 體育彩票營運商500.com的一連串事件。《亞博匯》去年已就這所 謂的「500.com醜聞」發布了不下十多個報道，其中兩名500.com 的日本籍顧問紺野昌彥和仲里勝憲因向日本眾議員、時任掌管IR 行業的內閣府副大臣秋元司行賄而被判緩刑。另外兩位500.com 職員淡路明人和佐藤文彥亦因與此企圖行賄案相關而被判入獄， 而秋元司仍在等待審判並堅稱自己是清白的。 在日本相關利益持份者的眼中，500.com案損害了全球IR業 的名聲，但這看法是不公平的，因為500.com從任何形式上來看， 都絕不是IR營運商，而且鑑於其經驗，500.com實在與日本IR競投 完全沾不上邊。 疫情加上500.com醜聞，令日本政府延遲公布令人期待已久 的IR行業基本政策，該政策草案最終於10月9日公布，並於12月18 日獲最終定稿。 provider 500.com. IAG ran no less than a dozen really had no business being involved in the Japanese stories throughout 2020 on what came to be known IR process at all. as the “500.com scandal,” in which two Japanese- A combination of the pandemic and the 500.com nationality 500.com advisors, Masahiko Konno and scandal delayed the issuing of the Japan national Katsunori Nakazato, received suspended sentences government’s long-awaited Basic Policy, which was for offering bribes to Diet member Tsukasa Akimoto, finally issued in draft form on 9 October and then as a who was Cabinet Office Deputy Minister in charge of finalized document on 18 December. IRs at the time. Two other 500.com officers, Akihito The revised Basic Policy for IRs saw additions in Awaji and Fumihiko Sato, received prison sentences three areas, none of them a surprise. There were for attempted witness bribery in relation to the case. increased health, hygiene and safety requirements – Akimoto himself is still awaiting trial and vehemently clearly a response to the global pandemic; updated maintains his innocence. rules for contacts between government and operators The 500.com case tarnished the global IR industry in reaction to the 500.com scandal; and additional in the eyes of Japanese stakeholders, which was measures addressing problem gambling, long a unfair given that 500.com is not an IR operator in any major concern of the Japanese public and some way, shape or form, and given its lack of experience, government stakeholders.

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東京 TOKYO

愛知 AICHI

和歌山 WAKAYAMA

北海道（苫小牧市） HOKKAIDO (TOMAKOMAI CITY)

千葉 CHIBA

大阪 OSAKA

橫濱 YOKOHAMA 長崎（佐世保市） NAGASAKI (SASEBO CITY)

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METROPOLITAN REGIONAL STATUS 狀態 大都市選址 地方選址 LOCATIONS LOCATIONS

Osaka Wakayama 大阪 和歌山 OFFICIALLY DECLARED 正式宣布競逐 INTEREST 1 Nagasaki Yokohama 1 (Sasebo City) 橫濱 長崎（佐世保市） Hokkaido Tokyo (Tomakomai City) 東京 北海道（苫小牧市）

2 POSSIBLE LATE Aichi 2 可能稍後加入競逐 ENTRANTS 愛知

3 Chiba 3 千葉

1 Within the Tokyo metropolis, 20 minutes from center 1 在東京都內，距離東京市中心約20分鐘路程。 of Tokyo. 2 2 在中部國際機場，為日本第三大城市名古屋提供服務。 At Chubu Centrair International Airport, servicing 3 Nagoya, Japan’s third-largest city. 在東京都內，距東京市中心約50分鐘路程，面積較橫濱小。 3 Within the Tokyo metropolis, 50 minutes from center of Tokyo at a location smaller than Yokohama.

HOW? 修訂後的IR行業基本政策從三方面進行了補充，但全是意料 The process for winning a bid for an IR in Japan has 之中。第一方面是新增了對健康、衛生和安全的要求，這顯然是對 now been long-established. The first step is for a site to be 疫情的回應。第二方面是針對500.com醜聞，更新了政府和營運商 selected and agreement to be formed between the local 的聯繫交流守則。 第三方面是針對問題賭博提出了額外措施，這 city and its prefecture on the desire to host an IR on that 長久以來一直是日本公眾和部分政府利益相關者關切的議題。 site. This needs to be approved by city-level assemblies. The prefecture then needs to create a “basic development plan” and set a budget for IR development 怎 樣？ 要奪得日本IR牌照，當中的競投程序早已確立。第一步是選擇 work. The prefectural implementation policy and 地點，並與該縣市達成共識，同意在該縣市發展IR項目。這一步需 finalized selection criteria to be used in determining the 要當地市議會的批准。 winning bidder must be approved by the prefectural level 然後，該縣需要制定「基本發展計劃」並為IR發展制定預算。IR assembly. 實施政策和最終挑選營運者的準則須當地縣議會的批准。 Next comes a local-level RFP process in which the city 接下來是地方的概念書徵集（RFP）流程，即該縣市要求候選 and prefecture request a formal proposal from candidate 營運商提交正式的項目建議書，然後地方政府根據已定的標準審 operators, assess these proposals against their pre- 核有關建議，並最終選出中標者。 determined selection criteria and ultimately select a 此步完成後，該縣和中標的營運商（實際上是該縣的競標合 winning bidder. 作夥伴）須擬定「基本協議」，並共同制定聯合發展計劃。該聯合發 Once this is complete, the prefecture and the 展計劃須當地縣議會的批准，然後提交予日本中央政府作為該縣 successful operator (now effectively their bidding 和營運商的聯合競標。

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運營商們擔心若橫濱在選舉中失利，可能會放棄 對IR的競標。

Operators are concerned about the possibility of an election loss leading to Yokohama dropping its IR bid.

partner) need to formulate a “basic agreement” and There are four locations which have officially together create a joint development plan. This joint declared their interest, and four locations that are still development plan needs prefectural-level assembly talked about as possible late entrants to the race. approval, after which it will be submitted to the national Osaka, once the darling of the process, has seen a government as a hand-in-hand joint bid of operator raft of operators withdraw to the point that US gaming and local-level government. giant MGM Resorts together with their Japanese After this, the national government will consider partner ORIX are the one and only operator consortium the joint applications from across the country and remaining. Nevertheless, Japan’s second-largest city ultimately select up to three winning locations in what (after Tokyo) has been very upbeat on the IR process for is referred to as the “first round.” Seven years after the a long time, with Osaka Governor Hirofumi Yoshimura first round, more licences may be issued. and Osaka City Mayor Ichiro Matsui in lockstep on the bid. Located in the heart of Japan in the Kansai region WHERE? on Honshu island, Osaka is often touted as the city Since late November 2019, when Hokkaido most likely to see Japan’s first metropolitan IR open. Governor Naomichi Suzuki announced that Hokkaido Regional location Wakayama, under long-time was shelving its bid for an IR for the foreseeable future, Governor Yoshinobu Nisaka, is similarly gung ho there have been no changes to the locations across about hosting an IR. In a May 2019 interview with Japan still competing in the IR race. IAG, Governor Nisaka said, “In my personal opinion,

32 IAG JAN 2021年1月 亞博匯 封面故事

大型IR運營商繼續將其在日的努力集中於橫濱。 The larger IR operators continue to focus their Japan efforts on Yokohama.

objectively speaking, Wakayama is sure to win one of 此後，中央政府將考慮來自全國各地的聯合競投書，並最終 the licenses. And I strongly believe that the [national] 在所謂的「第一輪」競投中，選出最多三個IR項目落戶地。在第一 government will have the same opinion. This project 輪完成的七年後，當局可發出更多牌照。 is very promising and that’s why we are so keen.” Wakayama’s attitude has not changed since then, and Governor Nisaka sees no issue with Wakayama’s 哪 裡？ 自2019年11月下旬以來，當北海道知事鈴木直道宣布，北 proximity to Osaka, just 75 minutes south by car. 海道在可預見的未來都會擱置IR競標計劃後，日本全國仍在競 However, some analysts do, going so far as to say that 逐IR項目落戶的地點都未有出現變化。 IRs in both Osaka and Wakayama would not make 有四個縣市已正式宣布有意競逐，還有四個仍被論及或稍 sense. 後加入競逐的地點： Nagasaki, on the major island of Kyushu at the far 大阪曾經是IR競投中的寵兒，但至今大部分營運商已退出 west of Japan, is another regional location pushing 競逐，令美國博彩業巨頭美高梅國際酒店集團及日企歐力士的 hard for an IR. Vice-Governor Ken Hirata is leading 合資成為目前唯一仍在大阪競逐的營運商。 the charge under his Governor Hodo Nakamura. 儘管如此，大阪是僅次於東京的日本第二大城市，長期在IR Nagasaki is known to be actively trying to stimulate 競投過程中保持樂觀態度，大阪府知事吉村洋文和大阪市長松 interest from more candidate operators to increase 井一郎正緊鑼密鼓地準備競投。位於日本關西地區本州島的心 the competitiveness of its RFP process. The IR site, at 臟地帶，大阪不時受吹捧為最有可能成為日本首個IR項目開業 Dutch theme park Huis Ten Bosch at Sasebo City, has 的地方。

IAG JAN 33 2021年1月 亞博匯 COVER STORY

和歌山是兩個地方IR候選地之一。 Wakayama is one of two regional IR candidates.

34 IAG JAN 2021年1月 亞博匯 封面故事

屬於地方選址的和歌山，長期在縣知事仁坂吉伸的領導下， 競爭力。其度假村候選地荷蘭主題公園豪斯登堡久負盛名。專家 同樣地對競投IR項目感興趣。仁坂吉伸於2019年5月接受《亞博 們指出，這個地方距離最近的福岡機場太遠，接近100分鐘車程。 匯》訪問時稱：「就我個人而言，客觀地說，和歌山一定會奪得其中 曾有人提出可以開通高速渡輪，但即便如此，從福岡機場出發仍 一張牌照。 我深信（中央）政府亦將持相同意見。這項目前途明一 需花上一個多小時。 片光明，所以我們如此熱衷於此。」 長崎自稱「九州候選人」，因為其得到了九州地方知事會的支 和歌山的態度自那時起就一直沒改變過。仁坂知事認為和歌 持。該會匯集了九州地區的七個縣，以及山口縣（在本州島西端正 山離大阪很近，開車僅需75分鐘。但一些分析師們卻認為，在大阪 對著九州）和沖繩縣（遠在九州和台灣之間）。 和和歌山同時建設度假村並不合理。 橫濱擁有得天獨厚的地理位置，位於擁有3800萬人口的東京 長崎位於日本最西端的九州島，是另外一個極力推崇IR的地 都會區，是全球人口最多的都會區。天氣好的時候，從橫濱到東京 區。其副知事平田研在知事中村法道的領導下指揮這一工作。長 市中心火車站的車程最快僅需20分鐘。 崎正積極嘗試吸引更多候選運營商的興趣，以提高其RFP流程的 然而現年74歲的橫濱市長林文子卻面臨著一場艱難的鬥爭，

been long known. Experts cite issues with the location But 74-year-old power-mayor Fumiko Hayashi has being so far from the nearest major airport at Fukuoka an uphill battle, with a dearth of public support and – 100 minutes away by car. A high-speed ferry has been 200,000 resident signatures supporting a referendum proposed, but even this would be well over an hour’s on the IR issue – widely viewed as a signal of negative journey from Fukuoka airport. Nagasaki is touting public sentiment. She also has a mayoral election to itself as the “Kyushu candidate,” as it has the support survive in the second half of 2021, and operators are of the Kyushu Governors Association. The association concerned about the possibility of an election loss brings together the seven prefectures of Kyushu island leading to Yokohama dropping its IR bid. as well as Yamaguchi prefecture (directly opposite Rumors abound of a Tokyo bid, said to be set for the Kyushu at the western end of Honshu island) and Odaiba region of the city. Tokyo’s popular and intelligent Okinawa prefecture (far to the south midway between Governor Yuriko Koike (who may even have ambitions Kyushu and Taiwan). to move to national politics) has quietly been taking the Yokohama has the advantage of being located in the steps necessary to keep her options open, while not greater Tokyo metropolis, the population of which is 38 expending political capital by openly announcing a bid. million, making it the world’s most populated metro The 2021 Tokyo Olympics, delayed 12 months because area. On a good day the train ride from Yokohama of the coronavirus pandemic, are unlikely to interfere. to the heart of Tokyo can be as little as 20 minutes. A Tokyo bid would immediately energize and attract

IAG JAN 35 2021年1月 亞博匯 COVER STORY

荷蘭風格的主題公園豪斯登堡一直是IR開發的選定之地。 Dutch-style theme park Huis Ten Bosch has long been the selected site for an IR development in Nagasaki.

the world’s largest IR companies, who would salivate Until the aforementioned withdrawal from the race, at the opportunity to own an IR at the epicenter of such Hokkaido’s candidate area was the Uenae district of a massive population base. Tomakomai city, located near Shinchitose Airport, the After Tokyo, the next most likely place to raise their main airport servicing Hokkaido and its capital Sapporo. hand is Aichi prefecture. Governor Hideaki Omura A large 1,000-hectare plot of land was earmarked, but has previously expressed a preference for a site at Hokkaido Governor Naomichi Suzuki determined, “There Chubu Centrair International Airport, which services is a high possibility that the candidate location serves Japan’s third-largest city, Nagoya. The prefecture has as a habitat for rare animals and with the limited time previously held an RFC process and has a budget set allotted it would be impossible to take the appropriate aside for developmental work, which is a positive sign. environmental considerations.” Could recent pandemic Much like Yokohama, Chiba is within the Tokyo delays be a blessing in disguise for Tomakomai city? metropolitan area, albeit on the other side of the The one takeaway regarding Tokyo, Aichi, Chiba and bay. The widely proposed site is Makuhari New City, Hokkaido is this – time is very tight indeed. To comply just under an hour by train from the heart of Tokyo. with the new schedule recently announced by the However, upcoming Mayoral and Gubernatorial national government, they would have to declare their elections may interfere. intentions extremely soon.

36 IAG JAN 2021年1月 亞博匯 封面故事

她面臨著缺乏公眾支持，以及有20萬居民簽名支持就IR相關問題 日本政府表示，目前的目標是在二十年代 進行公投——這是負面的公眾情緒信號。她還面臨2021年下半年 的市長選舉，營運商們擔心若其競選失敗可能導致橫濱放棄IR競 的後五年開放首個綜合度假村，但綜合考 標。 慮下來，拖到三十年代完成也不是不可 有關東京將以御台場地區申請IR競標的傳言甚囂塵上。廣受 歡迎而充滿智慧的知事小池百合子一直在悄悄做著相關的準備 能。 令自己進退皆有選擇餘地，而非公開宣佈競標消耗政治資本。因 新冠疫情推遲了12個月的2021年東京奧運會不太可能受到影響。 The national government says it is 若東京開標將立刻激發並吸引全球最大的IR公司參與，沒有人不 對在擁有如此龐大人口基數的中心開發度假村而垂涎三尺。 currently aiming to have the first 東京之外，另一個有可能舉手參與的地方是愛知縣。知事大 IR open in the “second half of the 村秀章此前曾表示，希望可以選址在日本第三大城市名古屋的外 聯機場中部國際機場。該縣此前曾進行過RFC流程，並為後續開發 decade,” but all things considered 工作預留預算，可以看作是積極信號。 it would not be out of the question 而千葉則與橫濱類似，雖然位於海灣的另一側，但也屬於東 京都市區。千葉推崇的選址是幕張新都心，距離東京市中心只有 for that to be in the 2030s.

IAG JAN 37 2021年1月 亞博匯 COVER STORY

太陽城集團的和歌山IR設計概念圖。 An artist’s impression of Suncity Group’s planned IR in Wakayama.

WHEN? a chain of command. The upside of this fastidious To many in the industry, this is the most vexing approach to planning is that once decisions finally are question. Japan has been talking about introducing made, implementation should roll out fairly efficiently. IRs to its shores for decades, and the process has Shortly after the passing of the Integrated Resorts been besieged by delay upon delay. There always (IR) Implementation Act in 2018, the prevailing wisdom seems to be some kind of pause-causing election was that Japan’s first IR would open in Osaka just in around the corner in Japan, and in 2020 we’ve seen time for that city’s hosting of the World Expo in 2025, but a change of Prime Minister and the global pandemic. that horse has long bolted. The Japanese government The political will to push IRs through is only on one has now officially revised its schedule for opening the side of national politics, that of the ruling Liberal nation’s first integrated resorts to the second half of Democratic Party (LDP), but at least that side has a the decade. safe majority in the Diet. This was announced in December at a joint sub- The Japanese have a notorious reputation for committee meeting which included the Liberal planning everything in business and politics to the Democratic Party’s Ministry of Land, Infrastructure nth degree, so decision-making can be a tedious and and Transport, the ministry responsible for the rollout lengthy process requiring many steps up and down of IRs in Japan. The announcement followed the

38 IAG JAN 2021年1月 亞博匯 封面故事

不到一小時的火車車程。但是可能會受到即將舉行的市長及州知 及全球疫情。推動IR發展的政治意願只是執政的自民黨一方的政 事選舉的影響。 策的一部分，但至少自民黨在國會中享有絕對多數席位。 而在退出競選賽道之前，北海道的候選地是苫小牧市的植苗 日本人習慣將商業和政治的一切都規劃的井井有條，因而做 區，位於北海道及其首府札幌的主要機場新千歲機場附近。北海 出決策可能需要一個繁瑣而冗長的過程，需要自上而下的一系列 道為此事專門劃定了1000公頃的土地，但知事鈴木直道當時稱：「 步驟。這種嚴格規劃的好處是，一旦最終作出決定，將相當有效的 候選地點很大可能是稀有動植物的棲息地，要在有限的時間內評 推廣實施。 估項目的環境因素是不可能的。」對於苫小牧市而言，近期的疫情 在2018年《綜合度假村實施法案》通過後不久，人們普遍認為 帶來的推遲尚是塞翁失馬焉知非福。 日本的第一家綜合度假村將於2025年大阪舉辦世博會之際開幕， 而東京、愛知、千葉和北海道所面臨的一個共同問題是——時 但這一想法早已被淘汰。日本政府現已正式修訂了其計劃，日本 間已經十分緊迫。為了遵守中央政府近期宣佈的新的時間表，他 將在本世紀二十年代的後期推出該國的首個綜合度假村。 們必須盡快宣佈他們是否參選的意圖。 該決定是在12月的一個聯合小組委員會會議上宣佈的，會議 成員包括負責日本IR事宜的國土交通部。在該決定公佈之前，地 何 時？ 方政府提交申請的期限遭到推遲，從之前的從1月4日至7月31日 對很多業內人士而言，這的確令人十分頭痛。幾十年來，日本 推遲了約9個月。最新的申請期為2021年10月1日至2022年4月28 一直討論引入綜合度假村，但該過程卻一再被延遲。日本似乎總 日。 會發生引發選舉延遲的情況，譬如2020年發生的首相意外換屆以 日本諮詢公司Bay City Ventures的董事總經理國領城児常年

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關注日本IR的發展。「運營商和地方政府普遍認為，聯合規劃過程 在抉擇出營運商、選定地址以及將第一個籌碼放在綠色賭桌 至少需要6個月才能有效實施，」他表示，「這意味著日本地方政府 上之前，尚有許多步驟：需要經過國家、縣、地方的各級批准，還有 最遲須在夏末之前選出他們的營運商。」 管機構的協商、融資問題、公眾諮詢。一些專家預計，由於日本嚴 而對地方政府而言，接下來的6到8個月將非常忙碌。他們都 格的建築要求和勞務保護，日本的建築時間比通常的要多花費約 需要盡快開始各自的RFP流程，以便最遲在2021年第三季度之前 50％。此外，由於相關規則的制約，物業不能分期開業，必須在剪 選定營運商合作夥伴。 綵之前全部建成。日本政府表示，目前的目標是在二十年代的後 而在營運商的選擇時機上——最佳預測未來表現的依據是其 五年開放首個綜合度假村，但綜合考慮下來，拖到三十年代完成 過往的表現。鑒於迄今為止該過程中的延遲，再多一個理由延遲 也不是不可能。 整個進程也就不足為奇。如若延遲果真發生，那麼東京、愛知、千 葉及北海道等潛在競爭者，甚至其他地區，更有可能加入競標賽 誰 人？ 道。 值得一提的是，出於各種原因，拉斯維加斯四大IR營運商中 在向中央政府提交標書之後，何時會得知誰人中標？IR之門 的三家——凱撒、拉斯維加斯金沙、永利渡假村——已經退出日本 又在何時才能真正開啟，首個籌碼會在何時擲出？要待整個流程 IR的競標。原因包括對現行及可能的法規及投資水平的考量、對投 順暢之後方見分曉。 資回報率的擔憂、以及在行業面臨艱難時刻的當下希望更加專注

recent postponement of the application period for local to begin their RFP processes as soon as possible in governments, originally between 4 January and 31 order to have selected their operator partner by say July 2021 but now delayed approximately nine months 3Q21 at the latest. to between 1 October 2021 and 28 April 2022. On the subject of operator selection timing – we Joji Kokuryo, Managing Director of Japanese should consider that the best predictor of future consulting firm Bay City Ventures, has been following behavior is past behavior. Given the delays in the the Japanese IR story for years. “Operators and local process so far, it would not be at all surprising if a governments are generally in agreement that the joint reason arose to delay the entire process once more. planning process will need at least six months to do Were that to happen, potential new entrants such as effectively,” he says. “This means local governments in Tokyo, Aichi, Chiba, Hokkaido or even other locations Japan should be selecting their operators by the end of would be much more likely to enter the fray. summer at the latest.” Once submissions are made to the national The next six to eight months are going to be a very government, when will the winners ultimately be busy time for prefectural governments. Each will need selected? And beyond that, when will the IR doors

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IAG JAN 41 2021年1月 亞博匯 COVER STORY

東京會加入日本的IR競標賽道嗎？ Will Tokyo enter Japan’s IR race?

actually open and the first bet be placed? This is when “second half of the decade,” but all things considered the entire process becomes much more fluid. it would not be out of the question for that to be in the There are many steps between an operator and 2030s. location being selected and the first chip coming to rest on green baize. Numerous approvals at WHO? the city, prefectural and national levels. Regulator Notably, three of the four major Las Vegas IR consultations. Financing issues. Public consultations. operators – Caesars, Las Vegas Sands and Wynn And some experts estimate construction in Japan will Resorts – have withdrawn from the Japan IR process, take around 50% longer than usual, due to Japan’s for a variety of reasons. These include concerns over strict building requirements and labor issues. Further, the ROI, given the prevailing and likely regulations and the way the rules of the game have been structured, investment levels required, and a desire to focus on core it’s difficult to stage the rollout of the properties, so markets during the more difficult times the industry is they will have to essentially be built in their entireties now faced with. Even the one major Las Vegas operator before the ribbon is cut. The national government says remaining in the race – MGM Resorts – finds itself as it is currently aiming to have the first IR open in the the only qualified bidder in Osaka’s RFP process. Such

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於核心市場的計劃。僅剩的一家美高梅國際酒店集團，同時也是大 阪RFP流程中唯一合資格的競標者。缺乏競爭必定會影響美高梅 國際酒店集團及其日本財團合作夥伴歐力士在大阪投標的動態。 至於三家沒有美資背景的澳門博企銀娛、新濠及澳博，前兩者 已經明確表明了他們對於日本大都會地區的偏愛。新加坡IR的兩 大寡頭之一雲頂新加坡，以及在韓國營運IR的日本本土博企世嘉 颯美亦對此感興趣。 我們看到許多公司已經明確表明屬意地方，其中就包括Hard Rock、Mohegan Gaming & Entertainment和Rush Street。這三者 最初都屬意北海道的苫小牧市，但亦會考慮其他地點。而和歌山的 賽道上則是太陽城和Clairvest兩家公司。 長崎的賽道上則擠著威華達控股、Casinos Austria Interna- tional、 Pixel Companyz 與Groupe Partouche合作，以及由Get Nice Holdings和Current Corp組成的財團。但是也不排除未來還 有更多的公司加入RFP流程，尤其是那些之前屬意過北海道的公 司。

本文的第二部分將刊登於《亞博匯》二月刊。屆時我們將對上 述所有候選營運商做出比較，並對日本IR可能需要的投資水平及 其他重大未決的事項進行探討。

a lack of competition will surely change the dynamic of open to other locations in Japan. In Wakayama, Suncity the Osaka process for MGM Resorts and their Japanese and Clairvest are the two companies in the race. consortium partner ORIX. Nagasaki is being pursued by Oshidori International Of the three Macau concessionaires without US Holdings, Casinos Austria, Pixel Companyz working properties – Galaxy, Melco and SJM – Galaxy and with Groupe Partouche and a consortium consisting of Melco have both made clear their preference for Get Nice Holdings and local Japanese company Current major metropolitan locations in Japan, as has Genting Corp, but don’t be surprised to see a number of other Singapore, one half of the highly successful Singapore companies join the RFP process, particularly those IR duopoly, and local Japanese gaming manufacturer formerly pursuing Hokkaido. Sega Sammy, who also participates in an IR in Korea. Then we see a slew of companies which have made In part two of this article, to run in the February clear their intentions to pursue regional locations. These issue of IAG, we’ll be comparing and contrasting all the include Hard Rock, Mohegan Gaming & Entertainment above candidate operators, as well as discussing likely and Rush Street. All three were initially known for investment levels and major outstanding issues in the pursuing the Hokkaido location at Tomakomai, but are IR process in Japan.

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大錢 根據在娛樂場業界內資歷深厚的Steve Karoul所言，儘管在現今娛樂場 運作中已用上大量高科技技術，但有時候最簡單的解決方案才最有用。

BIG MONEY

“Even in the high tech world of today’s casino operations, sometimes it‘s the simplest solutions that work best” says industry veteran Steve Karoul.

By Steve Karoul 文 Steve Karoul is a recognized casino consultant Steven Karoul是一位備受肯定 with over 40 years of hands-on casino experience 的娛樂場顧問，擁有超過40年的 around the world. He is also an authority on all 環球娛樂場經驗。他也是娛樂場 aspects of casino marketing. Steve has lived 市場推廣的權威。Steve在世界各 in and conducted casino marketing activities 地超過125個國家居住並且從事 in well over 125 countries around the world. 娛樂場市場推廣活動。他也是一位 He is an author, lecturer and educator who 作家、講師及教育者，經常在各種 often injects his own hands-on experiences 實務中引用他的經驗，以及公開地 and openly shares his ideas and thoughts with 與其他業界決策者分享他的意念 fellow industry executives. He can be contacted 和想法。可以通過電郵skaroul@ at [email protected]. eurosasiacasino.com來聯絡他。

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IAG JAN 45 2021年1月 亞博匯 COLUMNISTS

his has been a very volatile year for a Over the past few years we’ve heard about number of reasons, not least of them the several very high-profile cases involving anti-money coronavirus pandemic which has disrupted laundering (AML) issues. Money laundering is one of casino businesses around the world. the most serious, egregious and offensive problems I was asked recently to be one of the a casino will ever have to deal with. It is also an moderators for a webinar, hosted by ICE Digital, issue that warrants the most severe penalties from Twhich attracted attendees from across the globe. The regulators – often with fines running into the millions subject was Casino Marketing: Back to the Basics. of dollars. Casinos or individuals can even lose their The webinar ran for three days and had some very gaming licenses, forcing the casino’s closure or accomplished and professional speakers involved. sale or resulting in an employee or executive being The objective was not only to look at the way we expelled from the industry forever. do business today but also to look back and see if One current case involves Crown Resorts in there were any really good ideas from years ago that Australia, which recently admitted at an inquiry into could be implemented today to try to help improve its suitability to hold a casino license that some of business or allow casinos to operate more efficiently its international bank accounts may have been used and profitably. for money laundering purposes. This is a current

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於眾多原因，今年可謂充滿各種大起大落，新 冠病毒大流行就已經打亂了世界各地的娛樂 我們可能需要花上數百萬元在軟件、電腦 場業務運作。 程式或者聘請顧問之上。有時候最簡單的 我最近就受邀擔任由ICE Digital主辦的網上研 討會的其中一位主持人，這活動吸引到世界各 才是最有效的。 地的人參加，主題是「娛樂場市場推廣：回到基本步」。該網上研討 會一連三天舉行，講者中不乏成就斐然及十分專業的人士。 是次活動的目的不只是要檢視我們現在的經營方法，同時亦 We may not have to spend 要細察過去，尋找曾經被提出過、現在可能可以實行的那些幫助 millions of dollars on more 由改善營運或者讓賭場運作更有效率和達到更高利潤的好主意。 在過去幾年間，我們曾聽過一些與反洗黑錢有關、非常出名 software, computer programs 的案例。洗黑錢是賭場需要處理的問題中，最嚴重、最過份及最惹 or consultants. Sometimes the 人生厭的事情之一，亦是可能獲監管機構給予最嚴厲懲罰的一 種，很多時候都牽涉到上百萬元的罰款。娛樂場或者個別持牌人 simple solutions work best. 更有可能會失去博彩牌照。賭場可能因此被迫關閉或出售，個別 員工或管理層更可能被終身逐出至行業之外。

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梅隆銀行 MELLON BANK

REVENUE US$20.82 billion (2019) 收入 208.2億美元（2019） OPERATING US$5.58 billion (2019) INCOME 營業收入 55.8億美元（2019年） NET INCOME US$4.25 billion (2019) 淨收入 42.5億美元（2019年） AUM US$1.9 trillion (2019) 管理資產 1.9萬億美元（2019） TOTAL ASSETS US$381.50 billion (2019) 總資產 3815億美元（2019） TOTAL EQUITY US$41.58 billion (2019) 權益總額 415.8億美元（2019年） NUMBER OF 48,400 (2019) EMPLOYEES 員工人數 48,400 (2019) WEBSITE BNYMellon.com 網站 BNYMellon.com

and ongoing case so I will not focus on the what, wire transfers, and handling of cash deposits from why, when, where or how, but rather on preventative players, junkets and independent reps. Looking back, I measures that could have been taken in the past to realize today how and vulnerable we were at the possibly help prevent what happened. The recent ICE time. Nevertheless,naïve we made a very concerted effort Digital Webinar that focused on Back to the Basics to learn as much as we could about money laundering reminded me of a simple but basic preventative and how we could help prevent it in our casino. measure that works. Our international bank at that time was Mellon Many years ago, I worked for a well-known major Bank, headquartered in New York City. I was part of casino company that was becoming very aggressively a team assigned to visit with the top executives of the involved in international casino marketing, opening bank who oversaw wire transfers and AML efforts. numerous branch offices and bank accounts all Mellon Bank has an interesting history. According around the world to support the marketing efforts of to Wikipedia, “The Bank of New York Mellon its international staff. Many of these employees were Corporation, commonly known as BNY Mellon, is an relatively new, to the field itself and to the casino cage American multinational investment banking services and marketing. Therefore, our concern was to learn holding company headquartered in New York City. more about banking systems and procedures, bank BNY Mellon was formed from the merger of The Bank

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其中一宗現時的案例就是澳洲皇冠度假酒店集團。該公司最 我們當時的國際銀行是梅隆銀行，總部在紐約市。我們有一 近在一場對於其是否適合持有賭牌的調查中承認，公司的一些國 個小組被派去與該銀行負責匯款及反黑錢的高層會面，我是該小 際銀行戶口可能被用於清洗黑錢。這是一宗現在持續進行當中的 組的其中一員。 案例，因此我不會著墨細節。我希望仔細討論的是本來可以在過 梅隆銀行有一段有趣的歷史。維基百科有以下一段記載：「一 去採取，從而可能避免事情發生的防範措施。最近那個把焦點放在 般被稱作BNY Bank的紐約梅隆銀行，是美國的一個跨國投資銀 「還原基本步」的ICE Digital Webinar就提醒了我，有一種雖然簡 行服務集團，以紐約為基地。紐約梅隆銀行是在紐約銀行和梅隆 單但是有用的基本防止措施。 金融公司於2007年合併後所組成。它是世界最大的託管銀行和資 我在很多年前為一間知名大型博企工作過。該公司為了積極 產服務公司，在2020年第二季管理1.9萬億元的資產和託管37.2萬 地進行國際娛樂場市場推廣，在世界各地開設無數辦事處及銀行 元。紐約梅隆銀行於達拉華州組成的。」 戶口，用來支持世界各地員工的推廣工作。這些員工中很多不論 「由於其前身為紐約銀行的關係，該公司是美國其中一間 在業內、帳房工作或市場推廣上的工作紅經驗都比較資淺。因此， 歷史最悠久的銀行企業，也是世界上其中一間最古老的銀行，於 我們當時關心的是，更多學習關於各種銀行系統及程序、銀行匯 1784年6月由包括美國開國元勳亞歷山大．咸美頓及阿龍．伯爾等 款，以及處理玩家、中介和獨立代表的現金儲款等。現在回想，我 人士創立。梅隆在1869年由匹茲堡的家族成立。梅隆家族中包括 發現那時是何等無知及危險。可是，我們也花了很大的努力去盡 美國財政部部長安德魯．威廉．梅隆。」 量學習關於清洗黑錢的事宜，以及我們可以做甚麼來避免我們的 我對於在梅隆之旅的所見所聞所學非常印象深刻。 賭場內出現洗黑錢的情況。 有人告訴我們，一間匯款室在平常的一天可能要處理總額超

of New York and the Mellon Financial Corporation in We were told that on an average day the wire 2007. It is the world’s largest custodian bank and asset transfer room would process over US$1 billion in bank servicing company, with US$1.9 trillion in assets under transfers from and to destinations all around the world. management and US$37.2 trillion in assets under Our casino cage seemed miniscule in comparison. custody as of the second quarter of 2020. BNY Mellon Mellon also had over 48,000 employees, which is incorporated in Delaware. meant that someone had to be responsible for training “Through its Bank of New York predecessor, it is all of these employees in policies, procedures and what one of the three oldest banking corporations in the to watch for regarding any suspicious transactions. United States, and among the oldest banks in the However, what really fascinated me and surprised world, having been established in June 1784 by a group me the most was seeing numerous bright fluorescent that included American Founding Fathers Alexander orange stickers stuck on numerous files and Hamilton and Aaron Burr. Mellon had been founded in documents in their wire transfer room. I asked our 1869 by the Mellon family of Pittsburgh, which included host what they meant, and he brought one file over and Secretary of the Treasury Andrew W. Mellon.” showed us. The orange sticky note said, “BIG MONEY.” I was extremely impressed by what I saw and what He further explained that they, like many other large I learned during my trip to Mellon Bank. corporations, had to depend upon human interaction

IAG JAN 49 2021年1月 亞博匯 COLUMNISTS

50 IAG JAN 2021年1月 亞博匯 專欄

過10億美金、來往世界不同地方的銀行匯款。對比之下，我們賭場 他繼續解釋說，每個人都明白「大錢」這個詞所指的是甚麼，那 帳房要經手的金額就是「小巫見大巫」。 螢光橙色也是在視覺上提醒我們的員工去重覆兩三次確認某一項 梅隆亦擁有超過4萬8千名員工，因此必需有人在政策、程序 交易，以核實是否與銀行的政策相符。他對我說，這個簡單的構思 及面對可疑交易時所需注意事項等方面，為員工進行培訓。 出奇地有用，他們出錯的百分比亦大幅下降。 可是，最令我感到驚奇的，是於匯款室裏看到在無數檔案及文 我對此有很深的印象，並且在想如何於我們的賭場帳房和各 件上貼著的那些數之不盡的螢光橙色小貼紙。我問了一下負責接 個國際分部辦公室落實一套類似的做法。所以我就發展出我們自 待我們的職員這有甚麼含意，他就把其中一份檔案拿過來給我看。 己的「大錢」貼紙，並從中得到了很大的幫助。這做法沒有很大的成 那張小貼紙上面寫著「大錢(BIG MONEY)」。他之後解釋，就像很多 本，又容易實行，而且最重要的是，它顯淺易明。 大企業一樣，他們銀行都需要靠人手去幫助避免出錯或者遺漏重 當然，今天的娛樂場行業幾乎全由軟件和電腦程式控制。可 要的資訊。 是，出錯的情況依然會出現，所以有一套後備方案實在是很有用， 我就自己想：「想像一下有高達甚至超過10億元款項要經過 尤其是對於那些必須控制、報告及除去在其內發生的洗黑錢活動 你的辦公室處理，當中有多少是有問題或者是與洗黑錢或其他事 的娛樂場。 情有關聯呢？」招待我的那個職員也是這樣想，並且解釋說，他們 我們可能需要花上數百萬元在軟件、電腦程式或者聘請顧問 已經嘗試過很多種方法去引導員工專注在可能會有問題的地方。 之上。有時候最簡單的才是最有效的。到了最後，還是需要我們打 到了最後，他們得出的解決方案竟然是最不昂貴又最容易實行的。 破思想的框架。祝你好運！

to help avoid making mistakes or missing important implement something similar in our casino cage pieces of information. and International Branch Offices. So I developed I thought to myself, “Imagine a billion dollars or our own “BIG MONEY” sticker which helped us more passing through your office. How much of that tremendously. It did not cost a lot of money, was could be tainted or associated with money laundering easy to implement and, more importantly, was easy or other problems?” Our host agreed with me and to understand. explained that they had tried numerous ideas to guide Of course, the casino industry today is almost employees to focus on potential areas of concern. In totally controlled by software and computer the end, the solution they settled upon turned out to be programs. However, mistakes still happen, and the least expensive and simplest to implement. it can be helpful to have a backup plan. This is He further explained that everyone understood the especially important for casinos that are required to term “BIG MONEY” and that the bright orange color control, report and eliminate all money laundering was a visual reminder for staff to take a second or third activities in their casinos. look at that particular transaction to verify conformity We may not have to spend millions of dollars on to the bank’s policies. He told us that this one simple more software, computer programs or consultants. idea worked like a charm and their percentage of Sometimes the simple solutions work best. In the errors had dropped dramatically. end, it’s up to all of us to think outside the box. I was impressed and thought about how we could Good luck!

IAG JAN 51 2021年1月 亞博匯 JAPAN

52 IAG JAN 2021年1月 亞博匯 日本

博安一線牽 《亞博匯》與Recovery Support Network會長西村直之 醫生詳談他如何協助受賭博問題困擾的彈珠機玩家。

文 上村 慎太郎

IN SAFE HANDS

IAG sits down with Dr Naoyuki Nishimura, chairman of the Recovery Support Network, to discuss his work assisting pachinko players with a gambling problem.

By Shintaro Kamimura

IAG JAN 53 2021年1月 亞博匯 JAPAN

Recovery Support Network會長西村直之 Dr Naoyuki Nishimura Chairman of the Recovery Support Network

apan is on its way to developing its first IRs. Shintaro Kamimura: Thank you for taking the time One of the primary demands accompanying to speak with us. Needless to say, the effects of this legislation is addressing the issue of COVID-19 have been huge. Have you noticed any problem gambling. differences in call volume? Recovery Support Network (RSN) is a non- Naoyuki Nishimura: This year we received about 4,000 profit organization focused on pachinko addiction. calls. In 2019 we received about 5,200 and in 2018 there JIts chairman, Naoyuki Nishimura M.D., is a licensed were 5,800. Part of the reason for the drop was the psychiatrist and also chairs Japan Sustainable decrease in operating hours by the pachinko halls, but Responsible Gaming (JSRG), which is focused on I believe the main factor is that the number of pachinko gambling dependency in a broader sense and has halls and players are decreasing each year. one eye on the impending birth of IRs. In the first of a two-part interview, Dr Nishimura discusses SK: How did RSN get started? RSN’s activities. NN: In 2004, there were many machines that were really fun for players and there started to be a focus on the

54 IAG JAN 2021年1月 亞博匯 日本

本正籌備興建首批綜合度假村。伴隨著相關法 SK: RSN到底是怎樣開始的呢？ 律的其中一項主要要求，是要處理問題賭博。 NN:2004年時，有很多機器都為玩家帶來很多歡樂。那時開始有 Recovery Support Network (RSN)是一個專注 人把焦點放在多重債務問題之上，因此彈珠機行業就一起 創立了 於彈珠機成癮問題的非牟利團體。其會長西村 彈珠機成癮研究會。那時，我正在參與關於藥物成癮的事，他們就 直之是一位註冊心理醫生，亦是日本可持續負 聯絡了我。我就提議創設一條提供早期介入的熱線，以防止事情 責任博彩的主席。JSRG主要關注比較廣泛的 博彩成癮問題，並且 進一步惡化。該熱線於2006年成立，當時的宗旨是讓人們可以在 有留意著 將要興建的綜合度假村。是次訪問將分為兩部分，第一 遇到困難時致電我們，我們就能收集那些他們遇到的困難，並嘗 部分將會由西村醫生介紹RSN的工作。 試尋找解決方法。

日上村慎太郎(SK):感謝你抽空與我們詳談。新冠疫情的巨大影響實 SK: 你在此後參與了那些工作呢？ 在不言而喻。你有沒有留意到在求助電話數目上的改變呢？ NN:我在起初連市面上的需求是甚麼也不知道。但在那時就有國 西村直之(NN):我們今年約收到4000個電話。在2019年，我們就收 外報告指早期及簡單的介入非常有效，並且能夠達到自我療癒及 到約5200個，在2018年的數字是5800個。求助電話數字下跌的原 恢復的效果。在過去15年，我們多次調整了我們的工作，並參考了 因某程度是由於 彈珠機場所營業時間縮短，但我相信主要原因是 那些國外的報告。我們並非一間醫療機構，因此我們並不牽涉於 因為彈珠機場所與玩家的數字都正在逐年下降。 診斷或治療的過程之中。我們只專注在聆聽來電者問題及協助他 們改善的這一步。我們亦參與行業中幫助提高對該問題的警覺的 工作之中。

Multiple Debt Problem, so the pachinko industry groups effective and led to self-recovery and self-restoration. put together the Pachinko Addiction Research Society. Over the past 15 years we have made adjustments to At the time, I was involved in substance addiction, and what we do, incorporating these overseas reports. they contacted me. I suggested creating a hotline for We’re not a medical institution, so we aren’t involved early intervention, before things got too bad. The hotline in diagnosis or medical treatment. We are committed was set up in 2006 with the idea that people would call us solely to the step of listening to the caller’s problems when they had an issue, and we could cross-reference and assisting in correction. We also engage in activities those issues to try and search for a solution. to raise awareness in the industry.

SK: What activities have you been involved with SK: It seems like you have been busy with a variety since then? of projects the past few years. NN: At first I didn’t even know what the market needs NN: There is a system called “Anxiety-free Pachinko were, but it was around that time that overseas reports and Pachislot advisor.” The program was designed by emerged stating early, simple intervention was very the industry and I’m supervising it. Part of it was the

IAG JAN 55 2021年1月 亞博匯 JAPAN

product of pressure from the Problem Gambling Basic 我們只專注在聆聽來電者問題及協助 Countermeasure Act that was passed in 2018, but the system incorporates the consensus that exists overseas 他們改善的這一步。我們亦參與行業中 that staff education is vital for sustainable development 幫助提高對該問題的警覺的工作之中。 and is one measure to combat dependency. It is a way to train employees in Japan to be able to respond to customer issues as part of customer service. We are committed solely to the We are also creating an e-learning system. This is step of listening to the caller’s a system that allows all pachinko hall staff to study the basics of pachinko addiction issues, including the law, problems and assisting in online. We plan to release it next spring. I don’t think correction. We also engage in there are any examples in the world of an industry activities to raise awareness in creating a shared program like this. the industry. SK: This is funded by industry groups, but doesn’t that create a conflict of interest?

56 IAG JAN 2021年1月 亞博匯 日本

SK: 似乎你在過去幾年間都忙於參與不同的計劃。 「保障顧客」也有被包括在營運者的企業社會責任之中。那 NN:其中一個計劃名為「彈珠機及彈珠角子機輕鬆顧問」。該計劃 些 為了保障自己而應該遠離彈珠機的客戶，都將會被提醒。因此 由行業設計，並由我 進行監察。它某程度上是由於在2018年通過 並不存在利益衝突。 的《問題博彩基本解決法案》所帶來的壓力而被創造的，但該計劃 廿一世紀會這個團體會採取措施，改善包括成癮問題等的行 涵蓋了現時海外市場一些獲共識的事項，例如針對員工進行教育 業狀況，並且是由14個業內團體組成，當中有全日本博彩企業聯 對於可持續發展非常重要，並且是針對成癮的一項對策。這是在 會。 日本培訓僱員的方法，把處理客人可能面對的問題當作客戶服務 的一部分。 SK: 到底熱線的效果如何呢？ 我們亦正在創建一套電子學習系統。這套系統讓所有彈珠機 NN:該熱線對於來電者身份完全保密，因此我們不能對於成效進 場所的僱員可以在網上學習包括法律在內關於角子機成癮問題 行追蹤。所以我未能評估它的效用 。這就像那些自殺熱線一樣， 的基本知識。我們計劃在即將來臨的春季發佈這系統。我認為世 實在無從得知到底成功避免了多少宗自殺的發生。可是，就如其 界上沒有其他像這種由一個行業創建 並一同分享的計劃。 他熱線一般，我們可以與客戶溝通，並把所得套用到彈珠機場所 內的客戶服務之中，向客人提供關於避免危機的建議。 SK: 這是由行業所資助的，那會不會造成利益衝突呢？ 因此，在一些顧問研討會中，我們可以基於熱線來電來提供 NN:主要的運作都是由廿一世紀會所支持(廿一世紀會是一個會 反饋。這些來電所帶來的經驗亦可用來為行業訓練提供資訊。我 在彈珠機場所張貼印有成癮熱線資料的團體，同時亦會就相關來 們也在2018年開始了面對面的 諮詢服務，將能更好地調查來電 電進行統計、研究以及對運作提供支持)。可是真正的日常運作都 者的後續發展。 是由團體獨立處理。

NN: The main operations are supported by 21 Seiki- SK: How effective is the hotline? kai (21st Century Society, an organization that puts NN: The hotline is completely anonymous, so we up posters in pachinko halls with addiction hotline can’t track the results. Therefore, I can’t evaluate information and provides surveys, research and how effective it is. For example, it’s the same as how operator support based on these calls). However, the a suicide hotline doesn’t know exactly how many actual daily operations are handled independently of suicides have been prevented. However, as is the case the group. primarily with hotlines, we can communicate with “Customer protection” is included in the business customers and apply what we learn to the customer operator’s CSR. Customers who are better off staying service offered at pachinko halls, for example what away from pachinko for their own protection are told risk advice can be provided to the customers. that, so there is no conflict of interest. Therefore in advisor seminars we can provide 21 Seiki-kai is an organization that undertakes feedback [based on the hotline calls], and the initiatives to improve conditions within the industry, experience gained from these calls can be used as a such as addiction issues, and is made up of 14 industry source of information for industry training. We also groups including the All Japan Gaming Business started in-person consultations in 2018, which will Federated Association. serve as a better means of surveying prognosis.

IAG JAN 57 2021年1月 亞博匯 FEATURES

李啓洲是傳統粵菜「李家菜」 的第三代老闆。 Joe Lei is the third- generation owner of traditional Cantonese cuisine brand Lei Ka Choi.

張家鴻執掌的「澤榮記」的澤榮 記始創於1944年，主推澳門傳 統街頭小食蛋球仔（雞蛋仔）。 Founded in 1944, Ivan Cheong’s Chak In Kei specializes in making the traditional Macau street snack, egg waffles.

姚潤濂是傳統廣東糖水「杏香園」的老闆 Iu Lam Lim owns traditional Cantonese dessert shop Hang Heong Un.

銀河娛樂集團的倫宇文 介紹稱，很多中小企在澳 門百老匯開店之後，業務 都有所擴大。 Galaxy Entertainment Group’s Harrison Lun says many SMEs have expanded their businesses since opening at Broadway Macau.

58 IAG JAN 2021年1月 亞博匯 特寫

企業社會責任精神 《亞博匯》對話位於澳門百老匯美食街的三家餐 飲業中小企的經營者，深入了解和銀河娛樂集團 的此種合作是如何助力他們的事業攀上新高峰。

文 宋文娣

A SPIRIT OF SOCIAL RESPONSIBILITY

Inside Asian Gaming meets the owners of three local SMEs at Broadway Macau to find out how partnering with Galaxy Entertainment Group has helped them reach dizzying new heights.

By Wendi Song

IAG JAN 59 2021年1月 亞博匯 FEATURES

語云，「授人以魚不如授人以漁」。作為澳門領 「其實我們在安排這個項目的時候，最初的想法是由澳門出 先的大型企業之一及一家負責任企業，銀河 發，以遊客為主。」百老匯款客事務營運及百老匯舞台副總裁倫宇 娛樂集團（「銀娛」）一向視澳門中小企（SME） 文介紹道。 為主要合作夥伴，一直以來積極支持澳門特 「我們希望打造一條美食街，令遊客不必再四處奔波，在一個 區政府，以支持及培育等多元方式，成就本地 地方就可以品嘗各種地道而經典的澳門美食。」 中小企的發展。 「因此，我們就去找一些真得是很特色的美食，未必一定要 其中銀娛旗下「澳門百老匯」透過「以大帶小」合作模式，開創 很出名，但是真的要好吃。我們收集了很多資訊，很多時候要登門 與本地餐飲中小企聯營合作之先河，是大型綜合度假村與中小企 拜訪邀請這些本土品牌進駐。我們不是招商出來的，是誠意邀請。」 合作的經典案例。 倫宇文回憶道，這項工作剛開始時並不順利，一些較為有名的 古自2015年以來，銀娛採取積極措施以行動協助本澳傳統餐飲 企業對合作持懷疑態度。 業品牌走進現代化、企業化，誠邀本澳的零售及餐飲中小企進駐「 但澳門知名的「李家菜」的第三代老闆李啓洲則視合作為難 澳門百老匯」內的「百老匯美食街」。 得的機會，毫不猶豫地一口應承。

ccording to an old Chinese proverb, “Give a President Broadway Hospitality Operations & Theatre. poor man a fish and you feed him for a day. “We planned to build a food street so that tourists Teach him to fish and you will feed him for don’t have to go to the streets and alleys, and can enjoy a lifetime.” different kinds of authentic Macau food at one venue. As one of Macau’s leading corporations “We wanted to find local businesses that are really and a responsible corporate citizen, Galaxy authentic and special, not necessarily famous, but really EntertainmentA Group (GEG) has long been dedicated delicious. We did a lot of research and literally knocked to giving back to the local community and continues door by door to sincerely invite these local traditional to support local small and medium-sized enterprises brands to join.” (SMEs) via various initiatives to help Macau’s economy The task was a tricky one, Harrison recalls, with move towards diversification. some local SMEs skeptical at first. Based on the “Large Businesses Leading Small But the decision to partner with Galaxy proved to Businesses” business model, GEG’s Broadway Food be an easy one for Joe Lei, the third-generation owner Street is a hallmark example of how large-scale of traditional Cantonese cuisine brand Lei Ka Choi, or integrated resorts cooperate with local SMEs. “Lei’s Cuisine” in English, who took the opportunity to Since 2015, GEG has taken a proactive approach jump on board immediately. to assisting local, traditional F&B brands in their “Eighty percent of the customers in our other stores modernization and corporatization, and has invited local in Macau may be locals, but the tourists here (at the SMEs in the sectors of retail and F&B to open outlets in Broadway Food Street) are more concentrated,” Lei the Broadway Food Street at Broadway Macau. tells Inside Asian Gaming. “When we started this project, the original idea “It is a place where we can build our reputation, was to focus on tourists,” explains Harrison Lun, Vice and we plan to go to mainland China for further

60 IAG JAN 2021年1月 亞博匯 特寫

銀河娛樂集團於2015年推出澳門百老匯。 Galaxy Entertainment Group opened Broadway Macau in 2015.

IAG JAN 61 2021年1月 亞博匯 FEATURES

「百老匯的這間店鋪是我們影 響力最大的店。平常我們一晚 能迎來四、五輪客人，在澳門來 講幾乎是個奇跡。」——李啓洲

“This shop on Broadway is our most influential shop. We usually have four or five rounds of clients in one night, which is almost a miracle in Macau.” – Joe Lei

62 IAG JAN 2021年1月 亞博匯 特寫

李先生向《亞博匯》介紹道：「我們在澳門的其他店鋪可能八 姚潤濂補充稱，進駐美食街的一個額外好處是，銀娛幫助其 成都是本地人，但這裡遊客就較為集中，也是我們能打出知名度、 提升了對細節方面的注重。 未來再去內地發展的地方。百老匯的這間店鋪是我們影響力最大 「我們進駐之後，百老匯每週會有兩次的衛生檢查及監督， 的店。平常我們一晚能迎來四、五輪客人，在澳門來講幾乎是個奇 這個對我們傳統甜品做法起了很大的改進作用，因為以前老一輩 蹟。」 的做法，在衛生配套方面沒那麼好。百老匯的衛生監督檢查，幫助 經營傳統廣東糖水的杏香園的老闆姚潤濂贊許李啓洲的說 我們在食物的保存、食物的衛生情況和生產期有效期方面，建立 法。 了標準。」 「我們連續54年在澳門經營傳統甜品，之前的做法都很傳統。 嚴格的衛生標準幾乎是所有與我們交談過的百老匯店鋪商 但我們選擇百老匯，第一個原因就是遊客比較多，需求呈年輕化， 家們都認為是獲益匪淺的部分。 所以我們的甜品開始加進年輕人愛吃的選項，譬如芒果班戟等，這 事實上，銀娛一直在為本地中小企舉辦不同類型的培訓、技 些是其他老店沒有的。這個平台給了我們這樣去試的機會。」 術交流等活動，包括舉辦「銀娛為您‧中小企系列：食安分享會」，

development in the future. This shop on Broadway improved our traditional dessert practices, because is our most influential shop. We usually have four or the previous generations were not paying such five rounds of clients in one night, which is almost a attention in terms of hygiene. The hygiene supervision miracle in Macau.” from Broadway actually helped us to set up a standard Iu Lam Lim, owner of traditional Cantonese in terms of food preservation, food sanitation and dessert shop Hang Heong Un, agrees with Lei. production-period validity.” “We have been operating traditional dessert shops The application of strict hygiene standards are one in Macau for over 54 consecutive years, and our function almost all of the Broadway store merchants previous practices were very traditional,” explains Iu. IAG spoke with raised as a significant benefit. “One of the reasons we chose Broadway is that there In addition to prioritizing local companies and are more tourists and the demand is younger, so we brands in its procurement process, GEG also provides started to add desserts that young people like, such them with training and technical advisory services, as mango pancakes, which cannot be found in our including an invitation to attend its SME Series Food other shops. This platform gives us the opportunity Safety Workshop, where the GEG’s internal food safety to do so.” protocols and practices were shared and presented An added benefit, Iu adds, has been the attention to its F&B suppliers. Full sponsorships to attend the to detail provided by GEG. Food Traceability Training and CIEH Intermediate “After we moved in, Broadway initiated hygiene Certificate in Food Safety (Level 3) training course inspections twice a week,” he says. “This has greatly were also provided to GEG’s eligible suppliers.

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為供應商夥伴分享公司內部的食安管控規範及準則；以及全額資 們可以迅速打響知名度。」張家鴻介紹道，「我們現在在澳門開了 助合資格供應商接受生產力中心所提供之專業培訓，內容包括「 7間檔位。目前日本大阪政府，以及廣州的太古匯商場都在接觸我 食品追溯培訓課程」及「CIEH食品安全中級証書——第三級課程」 們，邀請我們過去開檔。」 等。 「我們就是在進駐這裡之後進入快速發展軌道，這一點要很 「在我們逐漸熟悉並達到這些標準之後，我們的產品也就可 多謝百老匯。在其他地方開鋪未必不行，但一定會很辛苦。」 以進一步走出澳門。我們目前已經在香港開了四家分店，都是從 「這次合作就是一次給我的機會。年輕創業，並非一定要在 這裡起步的。」姚潤濂自豪地介紹道。 有錢、人流旺的地方租鋪頭。這裡的成功，包括打造了一個生態。 澤榮記的老闆張家鴻對此也感觸頗深。創始於1944年的澤榮 這裡有地方停車，大家吃完飯之後會買份雞蛋仔，吃完後又可以 記主推澳門傳統街頭小食蛋球仔（雞蛋仔）。今年28歲的張家鴻決 去看電影、表演等。很少有機會有這種天時地利人和。」 心將其從祖父母輩手中接過來，進行創新及品牌翻新。 2020年新冠疫情為不少中小企的業務帶來影響，銀娛透過不 「百老匯這邊在活動、宣傳等方面都幫了我們好多，令到我 同舉措，為本地中小企提供適切支援，其中包括免卻了旗下合資

“After we gradually became familiar with and met “This cooperation is an opportunity for me. Young these standards, our desserts were ready to go further entrepreneurs are not necessarily renting shops in a out of Macau. We have now opened four branches in rich and crowded place. The success here includes the Hong Kong, all starting from here,” Iu says proudly. creation of a healthy ecology. Here is a place to park, Chak In Kei boss Ivan Cheong also strongly agrees. and everyone can buy egg waffles after meals or before Founded in 1944, Chak In Kei specializes in making the they go to see movies or performances. There are very traditional Macau street snack egg waffles. When the few opportunities to be in the right place at the right 28-year-old Cheong took over from his grandparents, time like this.” he had already determined to give the brand a Most of Macau’s SMEs have been heavily affected makeover. by COVID-19. To support the local community in “Broadway has helped us a lot in terms of publicity prevention and other efforts against COVID-19, GEG and events so that we were able to make a name for has also rolled out an array of practical initiatives, ourselves quickly,” Cheong offers. “We now have including having waived the fixed rental fee for all GEG opened seven stalls in Macau, and currently have tenants from February to June 2020. For this, Lei and been approached by the Osaka government and a big Iu were very grateful, as rent occupies a considerable shopping mall in Guangzhou, inviting us to open there. part of their day-to-day costs. “We entered this rapid development track after Lei said that at the height of the pandemic, turnover moving in here. Thanks to Broadway, it may be possible fell by between 80% and 90%, and even during the final to open stalls in other places. months of 2020 was down by between 50% and 60%.

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“For our shop, [rent relief] has reduced a lot of burden,” says Lei. 「我們現在在澳門開出了7間檔位。目 “We are the same,” Iu chimes in. “The rent 前日本的大阪政府、以及廣州的太古匯 exemption is a relief for us, and allows us to survive.” This is the second time in just three years that GEG 商場都在接觸我們，邀請我們過去開 has provided added support to its SMEs, the first being 檔。」——張家鴻 in 2017 following the devastating impact of Typhoon Hato. Such support is provided through the GEG “We now have opened seven Foundation, and although the owners of affected businesses were able to apply for subsidies and stalls in Macau, and currently interest-free loans from the Macau Government, have been approached by the the GEG Typhoon Relief Fund was nevertheless able to provide GEG’s partners at Broadway Macau with Osaka government and a big financial assistance in their efforts to recover from the shopping mall in Guangzhou, typhoon. inviting us to open there.” Other measures launched by GEG during the COVID-19 pandemic have included subscribing to – Ivan Cheong HK$100 million of SME-themed COVID-19 Impact

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Alleviation Social Bonds issued by Bank of China “When organizing any event, we pay close attention (BOC) Macau, and organizing the “Healthy and Fun to the finance and hygiene section. We stick to the same Carnival” which saw 70 booths provided to more than standard and hope our fellow merchants will gradually 100 different local SMEs to participate in the carnival get our ideas, operation patterns and requirements, free of charge. so as to gradually introduce our models to their own According to GEG’s Lun, Broadway usually businesses. I believe this is a good ‘Large Businesses cooperates with SMEs on marketing plans without Leading Small Businesses’ business model. charging any fees for the promotion. It also “We have many examples of successful investment. provides support for security, hygiene and the daily The Roadhouse Macau, for example, has made money management of restaurants and their staff. on that investment and has now invested in another During the pandemic, GEG regularly distributed project at Broadway. These are the things that tenants disinfectant to each merchant and required them can do with our platform. to follow the company’s daily cleaning processes. “As for [Chak In Kei boss] Ivan, in addition to his Merchant staff are also allowed to eat in GEG’s staff current egg waffle stalls, he also runs a game booth canteen. and a Thai restaurant on Broadway. “The overall management can ensure that the “I am so happy to see that not only have they made standards of each shop are not too scattered,” he money, they’ve also improved and grown along the explains. way.”

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「我們進駐之後，百老匯每週會有兩次的衛生檢查及監督，這對我們傳統甜品做法起 了很大的改進作用。」——姚潤濂

“After we moved in, Broadway initiated hygiene inspections twice a week. This has greatly improved our traditional dessert practices.” – Iu Lam Lim

格中小企及澳門企業夥伴的2月份至6月份之基本租金。對此，李 倫宇文介紹稱，百老匯在做市場推廣時一般都會聯合中 啓洲及姚潤濂頗為感謝。對於擁有數家實體店鋪的他們而言，租 小企一起去做，並且不會收取推廣費。同時還在保安、衛生乃 金佔據了相當大部分成本。 至餐廳的日常管理及餐廳員工安排方面都給予支持。疫情期 李啓洲稱，疫情期間營業額下跌八九成，後期也超過五六成。 間他們會定期分配消毒藥水給每家商戶，要求其每日的清潔 「銀娛疫情期間租金都沒有同我們計。這對我們這間鋪而言，已 流程。而各家商鋪的員工亦可以在銀娛的員工食堂就餐。 經減輕了好多負擔。」 他解釋稱：「整體的管理可以保證每家商戶的水準不至於 「我們也是一樣，」姚潤濂續稱，「銀娛免除租金對我們而言 太過分散。」 解除了一個負擔，也令我們可以生存下去。」 「我們做任何活動，在財務團隊和衛生監管方面一定不 這其實是銀娛在三年內第二次為中小企提供額外支持，第一 會放鬆。我們堅持同一個標準，也希望各位商戶能慢慢感受到 次是在2017年給澳門中小企帶來慘重損失的「天鴿」風災過後。該 我們的想法、營運模式和要求，從而逐步的將我們這些模式引 項支持是銀娛集團透過旗下基金會做出的。儘管受影響的中小企 入他們自己的店鋪裡面。相信這是一個很好的『以大帶小』的 業可申請當時澳門政府所推出的「災後補助金措施」和免息貸款， 模 式。」 但銀河娛樂集團基金會仍透過「銀娛颱風賑災基金」為這群於澳 「我們有很多投資成功的例子。比如路屋吧（Road- 門百老匯營運的銀娛合作夥伴提供財政援助，以讓他們可盡快恢 house），因為投資成功賺到錢，又在百老匯投資了另一個項 復正常運作。 目。這些都是租戶利用我們的平台做到的。」 疫情期間銀娛推出的扶持中小企的舉措還包括投放一億港 「而張家鴻除了經營現在的雞蛋仔檔位之外，還在百老 元認購中小企專項社會責任債券；在百老匯美食街上舉辦「健康 匯經營一個遊戲攤位和一個泰國餐廳。」 滿Fun復Show嘉年華」，向逾100個本澳中小企提供免費展位等。 「我好開心看到他們除了發達之外，也一路在進步。」

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差異化時代 當我們步入後疫情時代時，賭場必須促進產品多樣化和 探索新的垂直市場，以緊隨其他遊戲和娛樂領域的步伐。 A DECADE OF DIFFERENTIATION

As we head towards a post-COVID world, casinos must follow the lead of other gaming and entertainment sectors by diversifying their offerings and exploring new verticals.

By David Bonnet 文 David Bonnet is Managing Partner at Delta David Bonnet是位於香港Delta State Holdings Ltd, based in Hong Kong, State Holdings Ltd公司的管理 where he provides corporate finance consulting 合夥人，為新興市場、酒店和博彩 services for leading institutional investors in 領域的主要機構投資者提供企業 the emerging markets, hospitality and gaming 融資諮詢服務。他曾在彭博有限 space. He has previously worked in senior 合夥企業、拉斯維加斯金沙集團 strategy and finance positions with companies 及銀河娛樂集團等公司擔任戰略 such as Bloomberg LP, Las Vegas Sands and 及財務等高級職位。David此前曾 Galaxy Entertainment Group amongst others. 在芝加哥的JMB Realty、Allston David has held positions with JMB Realty and Trading，舊金山投資銀行Banc of Allston Trading in Chicago, investment banking America Securites、Robertson firms Bank of America Securities, Robertson Stephens，以及檀香山的 Stephens in San Francisco and Blackpoint Blackpoint Capital Advisors公 Capital Advisors in Honolulu. 司就職。

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禧世代的第三個十年已到來（是的，第三個十 求，亞洲綜合度假村內的大型賭場亦出現了類似的動態。顯然地， 年始於2021年1月，而不是2020年），我們剖 在後疫情時代，依賴大量人員聚集作為商業模式基礎的企業，存 釋亞洲賭場博彩業的前景以及潛在發展。我 在陷入困境的風險，因為人們現流行習慣遠程體驗。 感興趣探討的是科技發展、不斷變化的競爭 儘管參與人數大受限制，但職業體育聯賽避免了收入重挫的 環境、數字貨幣應用和法定監管等議題。我的 危機，這主要原因是體育聯賽能夠從線上和電視廣播夥伴中獲取 觀點是要成功地推動業務復甦，博彩業應提供一系列具差異化的 收入。這就是大多數體育聯賽能夠在疫情期間繼續進行比賽，避 產品，以應對消費者正發生根本變化的市場。 免了業務中斷，而這問題困擾著大部分消費行業，包括航空公司、 管理層最需優先處理的事項之一是，尋找可持續的盈利方 酒店、電影院和零售商場，更不用說綜合度假村。 這提出了一個問 法。然而，事實證明要維持正常操作是困難的，因為既需要落實先 題：對沒有線上或媒體轉播的娛樂活動而言，市場需求能否夠恢 千進的安全和監督流程，也要同時監視大批人流，特別在具健康風 復至疫情前的水平？ 險的環境中每人都需配戴個人防護設備。這導致客戶流量減少， 可以肯定的是，即使在疫情催化這轉變前，美國的商業活動 收入也大大下降。 趨勢已朝著偏向猶如身臨其境的線上體驗方向發展。虛擬實境和 個人防護設備為客戶和員工創造了一個可相對地感到安全 多人互玩的電子遊戲產業早已脫離了傳統的娛樂模式，而大型傳 的環境，讓賭場能夠維持最低的業務活動水平，而不需要完全停 媒集團亦開始關注這發展。如迪士尼和環球影城等集團作出應 止營運。然而，這只是權宜之計，相關措施不太能持續推行，因為 對，實現了多元化發展，提供及利用各類產品和串流服務，不再只 這最終會導致營業額進一步下降，此時需要市場持份者採取創新 依賴旗下的主題公園產品。 措施以防止業務萎縮。 在這方面，博彩業中至少有一個領域，已在這不可思議的線 在家工作的趨勢已壓抑了主要城市商業區內的辦公空間需 上商業模式轉變中獲利。美國體育博彩正經歷巨大的增長，利用

s the millennia’s third decade arrives, bio-hazard environment where everyone is required (that’s right – it starts in January 2021 to field personal protective equipment. This has led not 2020) we examine what’s in store to reduced customer traffic and considerably lower for Asia’s casino gaming space and its revenue. potential evolution. Some of the questions The deployment of PPE has created an environment I'm interested in exploring include technological where customers and employees can at least feel advancement,A the changing competitive landscape, relatively safe, allowing the casinos to maintain a digital currency adoption and regulatory oversight. minimum level of commerce as opposed to ceasing My view is that to successfully recover business, operations altogether. Yet these stopgap measures are the industry should offer a variety of differentiated unlikely to be enduring, ultimately leading to further products to address a market that has experienced a declining turnover and requiring market participants fundamental shift in consumer behavior. to adopt innovative approaches in order to stem the One of management’s highest priorities is finding a declines. sustainable path to profitability. However, conducting As work-from-home trends depress demand for normal operations amid the need for advanced security office space in major cities’ commercial business and surveillance routines while monitoring large districts, similar dynamics might be observed in the groups of people has proved difficult in essentially a large casino halls of Asia’s integrated resorts. It is

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clear that enterprises relying on the aggregation of trending in a direction that favored more immersive large numbers of people as the foundation of their online experiences even before the pandemic respective business models are at risk of floundering in exacerbated the shift. Virtual reality and multi-player a post-pandemic world where doing almost everything video game industries have already disintermediated remotely is now en vogue. traditional entertainment and large mass-media Professional sports leagues though, despite conglomerates have taken note. As a response, limitations on attendance, have been spared the companies such as Disney and Universal Studios have carnage of extensive lost revenue, primarily because massively diversified, offering a variety of products and of the big bucks they generate from their online and streaming services that leverage and not just rely on TV broadcast partners. It’s the reason most major theme park content. leagues have been able to play through the pandemic – In that regard, at least one sector of the gaming avoiding the business interruptions that have plagued business has capitalized from the incredible shift so many other consumer industries including airlines, to online commerce. Sports wagering in the USA hotels, movie cinemas and retail malls, not to mention is experiencing tremendous growth and is utilizing IRs. This begs the question of whether demand for technological advances in streaming and digital entertainment activities that do not have an online or networking to effectively alter the casino gaming sector’s media angle can ever recover to a pre-pandemic level. supply-and-demand fundamentals. Its extraordinary To be sure, commerce in the USA was already evolution made possible by the Supreme Court’s

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顯然在後疫情時代，依賴大量人員聚集作為商業模式基礎的企業，存 在陷入困境的風險，因為人們現流行習慣遠程體驗。

It is clear that enterprises relying on the aggregation of large numbers of people as the foundation of their respective business models are at risk of floundering in a post-pandemic world.

串流媒體和數字網絡技術發展，有效地改變了賭場博彩領域的供 法是切實可行的。另外，以往有足夠的客戶需求，所以無需將娛樂 需基本面。這非凡的發展能夠實現，有賴美國最高法院於2018年 體驗帶到賭場之外。 取消了相關限制，而疫情封鎖期間，人們的閒暇時間大增，從而令 但是，在當今的環境下，營造客戶可以多方面參與的氛圍，包 相關投注額大幅增長。以往僅關注《夢幻總教頭》遊戲的出版物， 括在賭場以外，這對於確保整個行業能夠與客戶快速演變的喜好 包括FanDuel、DraftKings以及BarStool，現在都經營專有的體育 習慣保持同步，是至關重要的。例如，允許顧客從酒店客房、度假 博彩投注，其中大部分投注在線上進行。這一領域的增長可能會 村內的餐廳或整個度假村營運範圍內下注，可幫助營運商抵消部 持續下去，因為傳統娛樂場或向其顧客群推銷相關線上體育博彩 分因疫情而失去的市場需求。隨著監管靈活性越大，博彩產品越 產品，這些顧客由於健康安全問題，或不太願意遠赴綜合度假村 趨自由化，這將會刺激投注額和利潤增長。基諾是一個很好的例 玩 樂。 子，這低影響、高利潤率遊戲能夠將投注活動擴展至賭場區域之 我們也可以期待行業中將出現更多併購交易，因為過去穩重 外，設有線上版本也可能會大受歡迎。 的賭場營運商正在線上領域尋求未來增長的機遇。在應用部分美 當然，營運商需要開發相關技術並獲得監管機構的批准，才 國體育博彩的經驗下，科技及線上產品的趨勢未來將如何在塑造 能提出此獨特的產品。然而，這概念具有潛力刺激潛在需求，就像 亞洲賭場博彩業發展中，發揮更大的作用呢？ 體育博彩打破需「進場參與的壁壘」一樣。 但獲得監管機構的批准 隨著線上和串流媒體內容吸引了大部分人閒暇時的注意力， 將是當中的主要難關，需要一個思想開明的政府，能夠改革創新 吸引消費者注意力的競爭正日益加劇。 在這環境下，綜合度假村 而不是停滯不前。 營運商需要考慮不斷轉變的客戶喜好，開發創新產品以保持競爭 公平地說，亞洲賭場博彩監管機構是非常出色的，在其監管 力。當中最關鍵的是，所有賭場活動只能在場內進行的想法。從歷 下，亞洲賭場博彩業在高峰時期，每年博彩總收入超過500億美 史上看，鑑於監管要求和盡可能確保安全性的操作需求下，這想 元，並且在一般情況下，對賭場持牌人營運的干預最小化。但是，

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如迪士尼和環球影城等集團作出應對， 實現了多元化發展，提供及利用各類產 若相關官員未能好高騖遠、快速地應對市場不斷變化的趨勢，相 當一部分的博彩業收入將面臨流失的風險。例如，允許營運商採 品和串流服務，不再只依賴旗下的主題 用數字貨幣以促進手機博彩平台上的交易，或是促使更多客戶互 公園產品。 動及刺激博彩收入增長的關鍵催化劑。 鑑於驚人的價格波動，比特幣引起了人們的極大關注，但獲 國家機關或央行認可的數字貨幣產品開發和利用，或可釋放更巨 Companies such as Disney 大的資金流動性，前題是落實了行業激勵措施。中國國民儲蓄率 and Universal Studios have 為45％，是全球國民儲蓄率最高的國家之一，所以有渠道接觸這 很小部分的財富，這將為企業帶來裨益。 massively diversified, offering 數字貨幣很可能促進建立更高效、成本更低的賭場營運環 a variety of products and 境，使賭場業務量更大、安全性更高，從而也能夠應用於非博彩服 務。採用數字貨幣這支付解決方案還可以減少過時且繁多的合規 streaming services that 要求，這些合規計劃大多是被動性質，而不是主動預防任何惡意 leverage and not just rely on 活動。區塊鏈和分布式分類帳技術能夠為監管機構提供安全、有 效和無可爭議的審計跟踪，以及完整的交易歷史記錄。事實證明， theme park content. 智能合約技術產品可在供應鏈結構中很好地運作，既能提高效率 又可降低成本，我相信相關產品能夠對博彩行業產生類似影響。

removal of restrictions in 2018 has been supercharged owners seek future growth in an online world. Applying by the increased amount of free time people have had some of the lessons that have benefited sports gaming as a consequence of the lockdown, leading to huge in the USA, how then could technology and a shift to increases in betting turnover. Publications previously online product offerings play a greater role in helping focused solely on fantasy sports including FanDuel, to shape the future of casino gaming in Asia? DraftKings and even BarStool now operate proprietary With online and streaming content capturing a sportsbooks with a majority of transactions occurring larger portion of people’s idle attention, competition online. Enlargement of this sector is likely to continue for consumer discretionary spend is increasing as traditional casinos seek to market online sports in intensity. In this environment, IRs will need to gaming products to their legions of customers that develop new and innovative products that take into are less willing to journey to the resorts for their account changing customer preferences in order to amusement amid health safety concerns. remain competitive. Most critical is the idea that all We can also expect a greater number of M&A casino transactional activity takes place solely on transactions in this space, as formerly staid casino the gaming floor. Historically this was practical given

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regulatory requirements and need for operating the contagion. Increasing regulatory flexibility trending procedures designed to maximize security. Also, there toward greater liberalization of gaming products will was sufficient customer demand such that it wasn’t likely generate additional betting turnover and profits. necessary to take the playing experience outside of the Keno is a good example of a low impact, high margin casino area. game of chance that extends gaming activity outside However, in today’s environment, creating an of the casino area. Having online versions could also atmosphere where customers can engage on a prove popular. number of fronts including outside the gaming floor Certainly, companies will need to develop the will be important in ensuring the industry keeps pace technology and obtain regulatory approval in order with customers’ fickle and fast-changing preferences. to propose such unique offerings. Yet these concepts Allowing patrons, for example, to place bets from still have the potential to spur additional demand in their hotel rooms, from restaurants on property or the same way that removal of “barriers to entry” has throughout the IR’s operating jurisdictions could help done with sports betting. However, gaining authorities’ IRs offset some of the demand lost as a consequence of approval will be a key hurdle and will require open-

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minded governments to think progressively and not utilization of either a national or central bank endorsed rest on their laurels. digital currency product could unlock tremendous In fairness, Asia’s casino gaming regulators are liquidity – providing much-needed sector stimulus. pretty good. They have presided over an industry that China’s savings rate of 45% is one of the highest in at its peak generated more than US$50 billion of gross the world, and having a conduit to access even a small gaming revenue per year, and they generally allow portion of that wealth would be a benefit to businesses licensees to operate with minimal interference. But a that can utilize it. significant portion of that revenue is at risk if officials do Digital currencies are likely to facilitate a more not adopt a visionary approach and an ability to quickly efficient, lower-cost casino operating environment respond to changing market trends. Allowing IRs, enabling higher business volumes with greater security for example, to enable digital currencies to facilitate that would be able to service non-gaming businesses as commerce on mobile betting platforms could be a key well. Adopting this form of payment solution may also catalyst in spurring increased customer interaction reduce the need for antiquated and bloated compliance and as a result greater betting turnover. programs that are mostly reactive in nature rather than While a majority of attention is paid to Bitcoin due proactive in preventing nefarious activity. Blockchain and to its amazing price movement, the development and distributed ledger technologies have the ability to provide

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對於那些認為數字貨幣不能在賭場營運中佔一席位的人士 而言，應該要問問自己，以下哪件事更有可能發生：賭場中介業務 反彈，而中介業務運作通常是不透明的；抑或是賭場業務轉移到 資金來源和押注可以立即驗證的數字世界？我認為我們正步入一 個透明度更高和監督更強的年代。這些潛在發展將提供無數的可 能性，以更有效地經營賭場業務，並藉著加強數字化和自動化運 作，顯著地提高業務的盈利能力。 儘管行業因應疫情經歷了艱難時期，但我們似乎已克服了最 糟糕的時期，隨著消費者對娛樂產品的需求回升和增長，行業前 景實在是令人期待。在理想的情況下，疫苗、社交隔離措施以及最 終達至的群體免疫，將使人們能夠再次安全地享受獨一無二、令 人振奮的綜合度假村娛樂體驗。然而，營運商將需開發創新、靈活 和更具差異性的市場產品，以適應客戶快速轉變的喜好，從而抓 住市場機遇。

regulators with secure, effective and incontrovertible operate a casino business with the chance through audit trails along with a full transaction history. Smart- increasing digitization and automation to significantly contract technology products have also proven to work increase profitability. well in supply chain structures, increasing efficiency While the industry has experienced tough times while reducing costs, and I believe they could have a as a result of the epidemic, it appears we are through similar impact in our industry. the worst of this episode and incredible prospects For those who think digital currency adoption await as consumer demand for entertainment may not take hold in the casino business, just ask products rebounds and flourishes. Ideally vaccines, yourself what is more likely – a rebound in junket social distancing and ultimately some sort of turnover where business dynamics are generally shared immunity will enable people to again safely opaque, or migration to a more digital world where experience the exhilarating entertainment that IRs sources of funds and corresponding wagers are uniquely offer. Yet companies will need to develop immediately verifiable? In my view, we are entering an newer, flexible and more differentiated market- era of increased transparency and greater oversight. oriented products that keep up with their customers’ And these potential developments could provide fast-changing preferences in order to capitalize on innumerable possibilities for how to more efficiently the opportunity.

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78 IAG JAN 2021年1月 亞博匯 日本

稅收震盪 在日本政府最近公佈海外人士在賭場贏取的獎金可獲豁免徵稅後，《亞博匯》 深入剖釋日本綜合度假村（IR）稅制能夠如何有效地向當地居民徵稅。

文 山本 智行

TAXATION TREMORS

IAG takes a deeper look at how Japan’s tax system for IRs will work when it comes to taxing local residents, after the government recently revealed foreigners will be exempt from paying tax on winnings.

By Tomo Yamamoto

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贏得日本IR的地方將面臨與賽馬等公共賭博活動相同的稅費。 Locals who win in Japan’s IRs will face taxes similar to those applied to public gambling pursuits such as horse racing.

he general framework for taxation of However, the decision to exempt foreign guests Japan’s first IRs, now expected to open shows that authorities are keeping a close eye on in the late 2020s, has been decided. As international standards. Notably, neither Macau nor stipulated in the Outline of 2021 Tax Reform Singapore levy a tax on winnings, and the Outline Proposals, the winnings of foreign casino stipulates, “From the perspective of ensuring Japanese guests will not be subject to income tax, shelving an IRs the ability to compete internationally, non-residents Tearlier proposal by the Ministry of Finance and Ministry will not be taxed on income generated in the casino.” of Land, Infrastructure and Transport that would have Tax on profits made at a casino are directly tied to a certainly reduced Japan’s attractiveness as a high-end customer’s desire to play, and thus their desire to visit gambling destination. Japan, making such stipulations a vitally important cog. It doesn’t look like local players will enjoy the same Needless to say, both operators and local governments benefits, with the Outline of 2021 Tax Reform Proposals have been anxiously awaiting this decision. also stipulating that local gamblers will be “taxed in “It would be nonsense to tax the winnings of visiting certain cases in the same way as public gambling”, tourists,” says Hiroshi “Rocky” Katagiri, a former Las in which case the income will count as “occasional Vegas-based dealer who now heads local casino school, income.” IR Gaming Institute Japan.

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“Such a decision would be completely tone deaf to 本首批IR項目的總體稅制框架已經出台，相 the market. There are plenty of rivals in other countries. 關項目預計將於2020年代後期才開業。 根據 I was sure it could never happen, so I’m relieved to 《2021年稅制改革方案綱要》的規定，海外人 hear there won’t be taxation on tourists.” 士在賭場贏取的獎金無需繳納所得稅，扭轉了 There were also firm opinions expressed by 日本財務省和國土交通省早前提出的方案，此 candidate IR operators opposing moves to tax 前規定無疑降低了日本作為高端博彩目的地的吸引力。 Japanese residents on winnings. Both an experienced 據《2021年稅制改革方案綱要》，本地客人無法享受同一待 casino player and employee, Rocky agrees with their 遇，因規定本地賭客「在某些情況下將被以與公共博彩相同的方 views on the issue. 式徵稅」，在這些情況下，有關獎金視為「偶然收入」。 “It’s impossible to keep track of every single 日然而，是次對海外人士免徵稅的決定反映日本政府密切地 individual transaction in a casino. One bet doesn’t 關注相關的國際標準。值得注意的是，澳門和新加坡均未對賭客 even take a full minute. Unlike [public] gambling, that 獎金徵稅，而《稅制改革綱要》提出「在確保日本IR項目具有國際 means many bets are placed in a short amount of 競爭力的角度而言，非本地居民在賭場產生的收入可獲豁免徵 time,” he said. 稅。」 “I wish they would decide not to tax Japanese people 在賭場贏取的獎金稅收直接與賭客的玩樂意願以及其到訪 either. The JPY6,000 entrance fee is also just another 日本的意願掛鈎，因此該項規定是至關重要的。更不用說，IR營

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豁免外國客人的決定表明，相關部門正在密切關注國際標準。

The decision to exempt foreign guests shows that authorities are keeping a close eye on international standards.

edge for the house. If they overtax in this way, the hospitality and atmosphere were great so I didn’t mind market won’t be appealing and Japanese people will too much. The KRA staff assured me that the taxes I just travel to overseas casinos. This is especially true paid would be used for welfare and education, which I for high-rollers. In the end it will lower the services found to be acceptable. provided to customers overall.” COULD THE IR TAX SYSTEM BE BASED ON TAXATION ON HIGH DIVIDENDS IS JAPAN’S EXISTING PUBLIC GAMBLING UNAVOIDABLE SYSTEMS? “If there is to be taxation on the winnings of Japan has complicated rules around taxation of Japanese guests, it will probably only be on high winnings on domestic public gambling such as horse dividends,” Rocky suggests. “For example, in Las racing, keirin, boat racing and auto racing. According Vegas, slot machine winnings exceeding US$1,200, to the local “Refund System” (i.e. winnings), whether and table game winnings exceeding US$5,000, are or not refunds on horse racing tickets fall under taxed (at a flat rate of 24%). It would be better if Japan occasional income or miscellaneous income has been adopted something similar.” shaped by a number of lawsuits regarding horse race It’s not hard to find examples of similar systems. I bets. recall getting quite lucky one day while attending the As per the National Tax Administration Agency, the horse races run by the Korean Racing Association local “Refund System” is divided into miscellaneous (KRA). According to KRA rules, as a foreigner I was income and occasional income, and this categorization subject to tax on these winnings so what I ended is decided on considerations such as period of time, up taking home was less than I expected, but the number of times, frequency and scale of profit.

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運商和地方政府都期盼著這一決定。前拉斯維加斯賭場荷官、現 24％）。若日本採用類似的做法，這或會更好。」 日本博彩學校IR Gaming Institute校長片桐寛士（Rocky）表示： 「很容易就可以發現其他類似的例子。 我記得有一天參 「如對遊客的獎金徵稅，簡直會是無稽之談。」 加由韓國馬事會舉辦的賽馬比賽時，就覺得頗為幸運。 根據馬 「若作出這樣的決定，這完全是對市場置若罔聞。 很多其他 事會的規定，作為外國人，我必須為贏得的獎金納稅，所以最終 國家是競爭對手，我早已確信這情況永遠不會發生，所以知悉不 我可帶回家的錢比我預期的少，但賽事熱情好客的良好氛圍， 會對遊客徵稅後，我鬆了一口氣。」 令我不太介懷。 馬事會的工作人員向我保證，我所繳納的稅款 有些候選IR項目運營商也堅決地表達了意見，反對向日 將用於社會福利和教育，我認為這是可以接受的。」 本居民的博彩獎金徵稅。作為經驗豐富的賭徒，也曾是賭場僱 員，Rocky同意相關觀點。 IR稅制能否基於日本現有的公共博彩系統？ 「要跟進賭場內每筆個人交易是不可能的，一次投注所需 就賽馬、單車競輪、賽艇和賽車等國內公共博彩活動的獎 的時間不需一分鐘。 與（公開）博彩不同，這意味著在很短的時間 金徵稅，日本有著複雜的規定。經過一系列有關賽馬賽事投注 內有多次投注。」 的訴訟，根據當地 「退稅制度」（如獎金），退稅與否，視乎賽馬 「我希望當局亦考慮不向日本人徵稅。6000日圓的入場費 彩票是屬於偶然收入或雜項收入。 已是一項收入。如當局以這種方式過度徵稅，市場的吸引力銳 根據日本國稅廳的資料，當地「退稅制度」（如獎金）分為雜 減，日本人亦只會前往海外賭場，尤其是對豪客而言。最後，這將 項收入和偶然收入，而此分類是根據時間長短、次數、頻率和利 降低為客戶提供的服務質素。」 潤規模等因素而決定。 例如，某人使用軟件開發投注系統，同時跟進其賽馬投注 高獎金的稅收是不可避免的 並獲恆常利潤，在這情況下將視為雜項收入，並可將輸掉的賽 「若要對日本客人的獎金徵稅，那麼這或只會在高獎金的 馬彩票視為支出。 情況下。」Rocky建議，「例如，在拉斯維加斯，對超過1200美元的 相反，在這制度下，某人熱愛賽馬但投注款項較少，獎金會 角子機獎金以及超過5000美元的賭枱遊戲獎金徵收（統一稅率 被視為偶然收入，而輸掉的賽馬彩票則不被視為必要支出。

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賽艇是日本一項流行的運動。 Boat racing is a popular sport to bet on in Japan.

84 IAG JAN 2021年1月 亞博匯 日本

國稅廳建議那些從投注中獲退稅的人士，都應詳細記錄所 有比賽日期、地點、個別比賽、投注金額以及退稅金額。 按照目前情況，《稅收制度綱要》規定，就 就雜項收入或偶爾收入應繳納的稅額，是根據日本個人所 得稅稅率來計算，該稅率是按浮動比例。應繳納稅款的收入在 IR項目而言，「日本居民將被以與公共博 195萬日圓以下，稅率為5％；應繳納稅款的收入介乎195萬日圓 彩相同的方式徵稅。」 至330萬日圓，稅率為10％；這稅率會逐步提高，應繳納稅款的收 入在4000萬日圓以上，最高稅率為45％。 雜項收入會加入到個人應繳納稅款的收入中，扣除輸掉的 As it stands now, the Tax System 彩票損失金額，而只有一半的偶然收入會加入到個人應繳納稅 Outline stipulates that when it 款的收入中，雖然不允許扣除輸掉的彩票。偶爾收入適用者，在 稅款計算前，更可享有50萬日圓的稅務減免。 comes to IRs, “Japanese residents 按照目前情況，《稅收制度綱要》規定，就IR項目而言，「日本 will be taxed in the same way as 居民將被以與公共博彩相同的方式徵稅。」 換言之，一旦獎金超過一定金額，相關人士必須將獎金視為 public gambling.” 偶爾收入，並進行納稅申報。 這可能是複雜事宜，但至少日本政府為IR發展願景，清除了 一項障礙。

For example, an instance in which a person uses income below JPY1.95 million and 10% on taxable software to develop a betting system while keeping income of between JPY1.95 million and JPY3.3 million, track of their horse racing bets and making regular scaling gradually upwards to a maximum tax rate of profit would be classified as miscellaneous income, 45% for those with taxable income above JPY40 million. with the possibility of claiming losing tickets as Miscellaneous income is added to an individual’s expenses. taxable income, minus any deductions for losing tickets, Conversely, the refund for someone who loves to while only half of a person’s occasional income is added attend the races as a fan and is a lighter bettor counts to their taxable income although deductions for losing as occasional income, and the purchase price of losing tickets are not allowed. Occasional income also benefits bets isn't recognized as necessary expenses. from a JPY500,000 deduction before any tax is applied. The National Tax Administration Agency As it stands now, the Tax System Outline stipulates recommends those who receive any refunds from that when it comes to IRs, “Japanese residents will be bets they place keep detailed notes on all race dates, taxed in the same way as public gambling.” locations and individual races, on the amount spent on In other words, once winnings exceed a certain bets, and on any refunds claimed back. amount, the winner is required to report it as occasional The amount of tax to be paid on either miscellaneous income on their tax return. income or occasional income winnings is based on It can be complicated, but at the very least one hurdle Japan’s personal income tax rates, which work on a has been cleared by the government in anticipation of sliding scale. Residents pay a tax rate of 5% on taxable Japanese IRs.

IAG JAN 85 2021年1月 亞博匯 10 YEARS AGO

十年之前 2021年《亞博匯》邁入第16個年頭。自2005年成立以來，我們已經編撰了覆蓋整個亞洲博彩 業的大量文章。在《亞博匯》的這個最新常設專欄中，我們將每個月回顧一篇十年前的那些 封面故事，本月我們回顧的是2011年1月的封面故事，對Tabcorp公司Larry Mullin的專訪。

文 本思齊

10 YEARS AGO

Inside Asian Gaming celebrates its 16th year in 2021, and since our launch back in 2005 we’ve compiled an enormous library of articles covering the Asian Gaming Industry. In this new regular feature from IAG, each month we will look back at our cover story from exactly 10 years earlier. This month it's the January 2011 IAG cover story in which we interviewed Larry Mullin, then of Tabcorp's Star City.

By Ben Blaschke

86 IAG JAN 2021年1月 亞博匯 十年之前

IAG JAN 87 2021年1月 亞博匯 10 YEARS AGO

he calendar had just flicked over into 2011, and Larry Mullin, CEO of the Casinos Division of Australian gaming giant Tabcorp, was outlining the company’s grand plans 「我們需要改善這一切才能和澳門、新加坡 for its four Australian casinos. 等地競爭。」Tabcorp公司的Larry Mullin In a wide ranging interview appearing in Inside TAsian Gaming’s January 2011 issue, Mullin explained 在2011表示。 how Tabcorp was in the midst of an AU$1 billion (US$757 million) transformation of its Sydney flagship, “We needed to improve all of that Star City, with another AU$625 million to be spent on upgrades to its three Queensland properties – Treasury so we can compete with places like Casino & Hotel in Brisbane, Jupiters Hotel & Casino Macau and Singapore.” – Tabcorp’s on the Gold Coast and Jupiters Townsville. Aside from enhancing the company’s non-gaming Larry Mullin in 2011. attractions, with 75% of the spend allocated to restaurants, hotels, nightlife and other entertainment,

88 IAG JAN 2021年1月 亞博匯 十年之前

the idea was to provide a genuine alternative to the 值2011年，澳洲博彩業巨擘Tabcorp公司的旗 world-class IR offerings then-recently launched in 下賭場部門的首席執行官Larry Mullin概述了 Macau and Singapore. 該公司為其澳洲四家賭場指定的宏偉計劃。 “I think part of the issue with [the Australian] 在《亞博匯》於2011年1月的一次專訪 market is it had gotten complacent, more from a 中，Mullin解釋了Tabcorp是如何斥資10億 product standpoint in the VIP business or the type of 澳元（7.57億美元）對其悉尼期間物業Star City進行升級改造的， business you see in Asia,” Mullen told IAG at the time. 此外該公司投資了6.25億澳元改建了旗下位於昆士蘭的三處物 “We haven’t been competitive with the product that 業——位於布里斯班的Treasury Casino & Hotel、位於黃金海岸的 we offer to those customers, so even though we’re Jupiters Hotel及Jupiters Townsville。 in a great location here in a city such as Sydney, we 時此舉除了將75%的投資用於餐廳、酒店、夜店及其他娛樂項 just haven’t had the offerings to complement that 目以提升公司的非博彩吸引力之外，主要還是為了對標當時正在 visit. So now we are going to make sure we offer the 澳門及新加坡推出的世界一流的綜合度假村的服務水準。 international customer the best suite experience in Mullen當時向《亞博匯》表示：「澳洲市場的一個問題是過於 the city, and also give them a VIP experience with the 自滿，更多的從貴賓業務的角度或那種亞洲常見的業務類型的角 gaming area. We needed to improve all of that so we 度來推出產品。」 can compete with places like Macau and Singapore.” 「我們向這些客戶提供的產品沒有競爭力，所以即使我們在

IAG JAN 89 2021年1月 亞博匯 10 YEARS AGO

星億集團近期完成了對Star Gold Coast的逾8.5億澳元的升級改造。 Star Entertainment Group recently completed an AU$850 million transformation of The Star Gold Coast.

90 IAG JAN 2021年1月 亞博匯 十年之前

悉尼這樣的城市中處於優越的地理位置，我們沒有為遊客到訪提 供足夠的服務。所以現在我們要確保，我們能夠為客戶提供這個 城市最佳的套房體驗，同時在博彩區給予他們優質的貴賓服務。 我們需要改善這一切才能和澳門、新加坡等地競爭。」 儘管十年之後澳洲賭場在貴賓博彩方面仍面臨著一系列全 新的不利因素，但Mullin的願景在不斷地得到實現。2011年其從 Tabcorp中分拆出來成立了Echo Entertainment Group，隨後在 2015年更名為澳洲星億集團。這家賭場營運商目前已經成功地挑 戰了其長期競爭對手、澳洲領先的綜合度假村營運商皇冠度假酒 店集團。 儘管2014年Jupiters Townsville遭到出售，但The Star Sydney 已經是全球綜合度假舞台上的真正競爭者。The Star Gold Coast （前Jupiters Hotel & Casino）已經斥資8.5億澳元（6.43億美元）進 行改建， 而布里斯班的Treasury Casino & Hotel也將很快被星億投 資36億澳元的Queen’s Wharf項目所合併。該項目是該公司與香港 周大福及遠東發展的開創合作計劃之一。 無疑，十年之間，滄海桑田。

Fast forward 10 years and Australia’s casinos are facing a whole new array of headwinds in the VIP space, but Mullin’s vision continues to evolve. After a demerger from Tabcorp was completed in 2011 to form Echo Entertainment Group, which subsequently changed its name to Star Entertainment Group in 2015, the casino operator has now well and truly challenged long-time rival Crown Resorts for the title of Australia’s leading integrated resort operator. While Jupiters Townsville was offloaded in 2014, The Star Sydney has emerged as a genuine competitor on the global IR stage, The Star Gold Coast (formerly Jupiters Hotel & Casino) has undergone its own AU$850 million (US$643 million) makeover and Brisbane’s Treasury Casino & Hotel will soon be absorbed by Star’s AU$3.6 billion Queen’s Wharf development as part of a ground-breaking partnership with Hong Kong’s Chow Tai Fook and Far East Consortium. Proof that much can change in 10 years!

IAG JAN 91 2021年1月 亞博匯 FEATURES

在董事會外創建 負責任博彩文化 在《亞博匯》與負責任博彩委員會新合作的第四部分中，RGC董事總經理及最佳 實踐推廣中心負責人Janine Robinson探討了 將RG融入公司文化的重要性。

92 IAG JAN 2021年1月 亞博匯 特寫

CREATING AN RG CULTURE BEYOND THE BOARDROOM

In the fourth installment of a new collaboration between IAG and the Responsible Gambling Council, RGC Managing Director and Director of the Centre for the Advancement of Best Practices, Janine Robinson, discusses the importance of imbedding RG into a company’s culture.

By Janine Robinson 文 Janine Robinson has specialized 自1998年以來專門從事 in the field of responsible gambling 負責任博彩領域，Janine since 1998 and is a leader in RG Robinson是負責任博彩 education and training. Janine 教育和培訓的領導者，在 has provided policy guidance 國際層面上為相關政策提 internationally. Her advanced 供指導意見。她在成人教 degrees in adult education, clinical 育、臨床護理和社區發展 care and community development, 等方面擁有高級學位，加 combined with a passionate interest 上對文化和博彩領域的濃 in culture and gambling, bring a 厚興趣，能夠全方位提供 360° perspective to RG solutions. 負責任博彩解決方案。

IAG JAN 93 2021年1月 亞博匯 FEATURES

恒常培養和認可負責任博彩領導者的政策，讓員工可分享成果 並提高生產率，因為員工認為自身正進行重要的工作。

Policies that cultivate and recognize everyday RG leaders allow employees to share accomplishments, and they drive higher productivity because those employees are being seen as doing important work.

esponsible gambling (RG) is globally not end there. Leaders in RG know the importance recognized as being a vital strategy in these tactics play across the fabric of the organization safeguarding the public from the harms and the value of embedding them into day-to-day associated with gambling, while at the operations carried out by all staff. same time supporting a sustainable player Policies should be measureable and reviewed in base. When done well, RG moves from being a box that order to be successful. They need to take into account Rgets ticked to a core part of an organization’s culture cultural norms and behaviors that are specific to a and identity. market or jurisdiction. Although rooted in universal Organizational culture is based on shared beliefs principles, a clear demonstrated understanding of and values that are established “at the top” and these diverse cultural and societal norms can be the communicated throughout the organization. The goal ignitor in fostering a tailored and bespoke RG culture of any organization is to have employees move from that thrives. simply adhering to roles to internalizing and projecting them through their everyday job functions. POLICY INFORMS CULTURE CHANGE: Building a strong RG culture starts with weaving LEADING PRACTICES beliefs and standards into policy and robust training Policies without action or practices are just words to communicate and execute the strategy. But it does on a page. For meaningful action and change to occur,

94 IAG JAN 2021年1月 亞博匯 特寫

practices should be encoded in policy and driven 責任博彩是全球公認的重要策略，以保護普 from the top-down. Policies are also required to be 羅大眾免受博彩帶來的禍害，並同時可持續 measureable to be successful. A good policy is one 地支持相關玩家群體。如果能夠有效地制定 that is actionable, communicated, supported, reviewed 落實，負責任博彩政策不再只是行禮如儀，更 and updated within appropriate time frames. Policies 能成為企業組織文化和身份的核心部分。 that cultivate and recognize everyday RG leaders allow 企業組織文化指共享的信念和價值觀，而這些信念和價值觀往往 employees to share accomplishments, and they drive 是由企業組織「最高層」確立，並由上而下傳遞。 任何企業組織的 higher productivity because those employees are being 目標，是要讓員工從單純地履行相關信念和價值觀，到在日常工 seen as doing important work. 作職能中消化及表達相關理念。 Newer markets understandably may have concerns 負建立強大的負責任博彩文化始於將信念和標準融入到政策 that RG will negatively impact the bottom line. There 中，並進行強而有力的培訓，以交流和落實相關政策。但工作還不 is no evidence this is the case. RG is intentionally 止於此，負責任博彩領導者深明這些策略在整個企業組織架構中 designed to support players to play sustainably, and is 的重要性，以及將其納入到所有員工的日常工作中。 aligned with long-term business objectives. Building 政策應該是可衡量及可審查的，這樣才能取得成功。政策制 practices into policy to create an RG culture opens the 定亦需要考量特定市場或管轄區的文化規範和行為。儘管植根於 doors to opportunities for operators in newer markets 普世原則，但清晰理解多元文化和社會規範，能夠成為培育量身 to interact with players across the player journey. 定制、蓬勃發展的負責任博彩文化的催化劑。

IAG JAN 95 2021年1月 亞博匯 FEATURES

96 IAG JAN 2021年1月 亞博匯 特寫

政策引導文化變革：領先實踐 培訓深化並推動企業組織文化 沒有行動或實踐，政策只是紙上談兵。為促使有意義的行動 在政策是推動力量的情況下，培訓成為驅動力，並通過向不 和變更發生，政策需實踐，並由上而下驅動。政策亦需具衡量性方 同階層的員工傳達關鍵訊息和適當技能來產生變化。培訓是人力 可成功。良好的政策是可以在適當的時間內採取行動、傳達、支 資本投資，提高員工的自豪感和工作滿意度，並鼓勵員工與玩家 持、審查和更新。恒常培養和認可負責任博彩領導者的政策，讓員 進行適當的互動。培訓為前線員工提供必要的工具、技能和管理 工可分享成果並提高生產率，因為員工認為自身正進行重要的工 層的支持，以提高其工作績效。相關互動在員工和玩家之間構建 作。 意義非凡的紐帶，藉此建立可持續的玩家群基礎。 可以理解的是，新興市場或擔心負責任博彩對其財務底線產 第三方為企業組織當前的培訓進行評估，可以提供見解分析 生負面影響，但沒有證據表明這是事實。負責任博彩旨在支持玩 其優勢及需改進的領域。「負責任博彩＋」（RG Plus）是提供量身 家可持續地玩樂，並與企業組織的長期商業目標保持一致。透過 定制的培訓解決方案的先軀，並可創建有效且具衡量性的培訓系 實踐政策來構建負責任博彩文化，為新興市場中的營運商與玩家 列。這種類型的評估提升了企業組織內部的透明度和問責機制， 的互動可能性打開了大門。 並能保留熟練優秀的員工隊伍。 部分已建立了業務據點的領先市場，已將負責任博彩文化融 深厚的文化是真正的資產，代表著企業組織的壽命。問責制、 入到業務模式中，並且了解其重要性和深遠的正面影響，對企業、 透明度和文化規範成為制定強勢政策的基礎，這些政策能滲透到 客戶和員工皆有裨益。 所有員工身上，賦予他們能力成為變革者。無論是在董事會中制 定政策略，還是在娛樂場內與玩家交談，文化在界定企業組織成 功方面都起著關鍵作用。

Some leading markets with established presence A third-party assessment of an organization’s have built RG culture into the business model and current training can offer insights into what is understand its importance and far reaching positive working and areas for improvement. RG Plus is effects. It’s good for business, good for customers and a leader in delivering bespoke training solutions good for staff. and can be an asset in the creation of effective and measureable training packages. This TRAINING REINFORCES AND DRIVES type of evaluation increases transparency and ORGANIZATIONAL CULTURE accountability within an organization and inspires Where policy is the enabler, training is the driver the retention of a skilled workforce. and generates change by delivering key messages and A strong culture is a true asset and speaks to appropriate skillsets to different levels of staff. Training the longevity of an organization. Accountability, is an investment in human capital and increases transparency and cultural norms become the employee pride and job satisfaction, and empowers foundations for strong policies that trickle down staff to have appropriate interactions with players. to all staff, giving them the power to be change It provides frontline staff with the necessary tools, makers. Whether it’s in the boardroom crafting skills and support from management to enhance job strategies or on the gaming floor talking to performance. This interaction can create meaningful players – culture plays a vital role in shaping an bonds between staff and players, and encourages the organization’s success. creation of a sustainable player base.

IAG JAN 97 2021年1月 亞博匯 EVENTS CALENDAR

2021年1月27日至28日 2021年3月 印度 中國澳門 27-28 January 2021 March 2021 India Macau, China

www.sbcevents.com/sbc-digital-india www.asgam.com/index.php/2019/03/05/macau-after-dark

2021年6月29日至7月1日 2021年7月29日至31日 英國倫敦 菲律賓馬尼拉 29 June–1 July 2021 29-31 July 2021 London, England Manila, Philippines

www.icelondon.uk.com www.phil-asiangamingexpo.com

98 IAG JAN 2021年1月 亞博匯 活動日程

2021年5月25日至27日 2021年5月27日至28日 中國澳門 菲律賓馬尼拉 25-27 May 2021 27-28 May 2021 Macau, China Manila, Philippines

www.g2easia.com www.ice-asia.com

2021年8月10日至12日 2021年10月4日至7日 澳洲悉尼 美國洛杉磯 10-12 August 2021 4-7 October 2021 Sydney, Australia Las Vegas, USA

www.austgamingexpo.com www.globalgamingexpo.com

IAG JAN 99 2021年1月 亞博匯