G2E Asia 2020 Trade Show Delayed for Second Time
Posted on: April 19, 2020, 03:26h.
Last updated on: April 19, 2020, 11:29h.
G2E Asia 2020 is rescheduled again because of the coronavirus pandemic and related travel restrictions. Organizers of the large gaming sector trade show now have planned it for December.
It is on the calendar for Dec. 1-3, at The Venetian Macao. That assumes global health conditions allow it to take place at the end of the year.
It was initially scheduled for May. Last month, organizers postponed the show to July.
Unfortunately, due to the COVID-19 pandemic and continued travel and commercial restrictions, it is not possible to hold G2E Asia in July …,” Reed Exhibitions (China) said in a recent online statement. “G2E Asia, and its organizers the American Gaming Association and Reed Exhibitions, are grateful for your continued support and apologize for any inconvenience that this may cause.”
Reed officials added that they are “monitoring … the global health crisis” and “we will continue to monitor the situation and remain in close contact with all G2E Asia stakeholders, local government, and health authorities over the coming months.”
As of last week, there were 45 confirmed cases of coronavirus in Macau, Inside Asian Gaming reported. Macau last month saw 10 confirmed cases of coronavirus. In March, the patients recovered from the illness, and were discharged from hospitals.
“We look forward to continuing to support Macao’s resilient gaming industry and its recovery when we reconvene in December,” the Reed statement adds. Last year, G2E Asia attracted some 13,500 trade visitors.
Josephine Lee, chief operating officer of Reed Exhibitions (China), was quoted by Inside Asian Gaming, “The health and safety of our exhibitors, attendees, and employees is paramount. The rapidly evolving situation makes it too difficult to host G2E Asia in a safe environment this summer.”
Nomura Group analyst Harry Curtis recently projected Macau gross gaming revenue (GGR) will decline 80 percent in the second quarter of this year. During the third quarter, GGR is projected to go lower by 65 percent.
In the fourth quarter, GGR may improve. There is pent-up demand among likely players, but there is a concern about a second wave of reinfection, Curtis was quoted by the South China Morning Post.
Looking ahead to 2021, Curtis said, “We believe that GGR can recover to $22.6 [billion]…, or roughly 62 percent of the 2019 level if the reinfection rate is low.”
“An effective vaccine would likely be needed to exceed our 62 percent (of 2019 GGR) estimate,” Curtis added in the news report. For 2022, Curtis said, “We estimate that GGR recovers to roughly 90 percent of 2019 highs.”
G2E Las Vegas Still Scheduled for October
The companion G2E is held annually in Las Vegas. The 2020 show is currently scheduled for Oct. 5 to 8 at the Sands Expo and Convention Center.
In a statement released last week, Reed Exhibitions announced it “is actively and continuously monitoring the COVID-19 virus outbreak in line with local, state, and federal authorities and public health advice, including that of the US Centers for Disease Control and Prevention (CDC) and the World Health Organization (WHO).”
“Our policies reflect the travel restrictions and guidelines of the United States government,” the Reed statement adds. “…Our position remains unchanged: the health and safety of our exhibitors, visitors and staff is our number one priority. Currently, no federal restrictions are in place to prevent conferences, conventions, trade shows, exhibitions and travel within the United States”
Other 2020 Las Vegas Trade Shows Canceled, Postponed
Multiple trade shows scheduled for Las Vegas in 2020 were already canceled. Las Vegas will lose an estimated $153 million with the recent decision by the National Association of Broadcasters (NAB) to cancel its trade show for 2020.
Earlier, there was hope the NAB Show was just postponed from its April 18 to 22 date. But the organization’s next show in Las Vegas will not take place until 2021.
The 2020 NAB show was expected to attract about 100,000 attendees. Last year, the show had an economic impact of about $153.3 million, according to the Las Vegas Convention and Visitors Authority (LVCVA), the Las Vegas Review-Journal reported.
It is held yearly in the Las Vegas Convention Center. It was expected to attract some 1,600 exhibitions.
Due to economic pressures from the pandemic, the LVCVA already reduced its current fiscal year’s budget by $79 million. More reductions are possible in the next fiscal year’s spending plan.
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