Jason Ader, managing partner at SpringOwl Asset Management and a former board member at Las Vegas Sands, told a CNBC business program on Tuesday that the impact of the Wuhan Coronavirus was a “wake up call” indicating that Asian governments should be legalizing online gaming.
“Daily online gambling is up 90 percent over the Lunar New Year holiday compared to last year,” Ader explained. “That’s an unbelievable number, and it raises the issue of should land-based operators be converging around the world with online operators. That’s really the growing trend.”
He added, “Asia is still very much the Wild West, it’s very unregulated, but [the land-based operators] are not getting any business. The online operators and Philippines licensees are picking up most of these players. I think it’s a wake up call.”
Ader argues that legalizing and regulating online gaming is the approach that is working in Europe and elsewhere, and that Asian nations should be preparing to follow suit.