May 2017

Where to now?

MACAU: Riding the high-roller wave

HONG KONG: Joint crackdown tackles illegal sports betting

JAPAN: Anti casino sentiment simmers

VIETNAM: Top five slot eyed with new decree

Nepal’s economy is forecast to grow at the fastest pace in 20 years in 2017, with tourism arrivals also recovering, helping to attract foreign investment into its casino sector.

India’s powerful Law Commission acknowledges that the government would raise substantial revenue from regulating the country’s estimated $60 billion gambling industry, but hasn’t decided whether to throw its weight behind efforts to legalize the sector.

The new legislation takes in sectors that were previously exempt. Both Australia and New Zealand have previously passed laws requiring banks and non-bank financial institutions, including casinos, to comply with laws intended to counter money laundering and the financing of terrorism.

Ratings firm Moody’s Investor Services shaved its rating on Imperial Pacific by one notch to “Caa1” and said it still had a negative outlook on the company, indicating it sees a significant chance of another downgrade in the medium term.

A small change to Australian gambling law in 2015 is now having an impact on the wider industry. The amendment highlights why many are concerned about the market’s ability to support some of the multibillion dollar IR projects being planned.

Horse racing authorities are intent on closing the net on exchange CITIbet, but leading officials in the sport admit “there is no silver bullet” and say they will need government and law enforcement assistance.

Macau’s VIP market, which was crushed by Beijing’s anti-corruption campaign, has bounced back, unexpectedly leading gross gambling revenue growth in Q1.

Summit Ascent Holding’s Tigre de Cristal has slashed its gambling capacity just 18 months after opening due to competition from illegal gambling and a lack of appetite amongst locals for casino games.

The Japanese language includes the idiomatic expression “ondosa,” which literally means “a difference in temperatures.” However, it often appears in newspapers to represent a situation in which various parties don’t quite see eye-to-eye—that they view a matter with disparate levels of support or commitment. When it comes to the legalization of casinos in Japan, there are vast temperature differences.

Lottery revenues increased 9 percent year-on-year in South Korea in 2016 driven in part by changing player perceptions, but remain low when compared with other OECD countries, signaling room for further growth.