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GKL further clarifies it has no plan to pursue Seoul casino resort

Viviana Chan
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GKL further clarifies it has no plan to pursue Seoul casino resort

South Korea’s state-run casino operator Grand Korea Leisure (GKL) has again clarified that it has no plan to pursue the development of a casino resort in Seoul, following renewed media speculation. 

In a filing to the Korea Exchange on Monday, the company reiterated that it is not advancing any project to secure a business site or build a casino resort in the capital.

The disclosure was issued in response to a report by The Korea Economic Daily claiming that GKL was preparing to develop a casino resort in Seoul. GKL said the filing serves as a follow-up to an earlier clarification, stressing that the required preconditions for any preliminary feasibility review have not been met and that no application has been submitted to the Ministry of Economy and Finance.

GKL added that, as of now, it has no plan to promote or pursue the acquisition of its own business site, underscoring that the company is not moving forward with any Seoul-based casino resort initiative.

The latest filing marks a shift in tone from an earlier disclosure, in which GKL described the matter as ‘undetermined’, while acknowledging preparatory considerations related to a preliminary feasibility study. Monday’s statement more clearly rejects suggestions that the company is actively pursuing a new casino development.

The clarification follows repeated media reports suggesting a potential strategic shift by GKL, which operates foreigner-only casinos at leased hotel properties. According to The Korea Economic Daily, GKL has been reviewing options to secure its own site amid intensifying competition in South Korea’s foreigner-only casino market.

Analysts see Macau February GGR up 4%–12.8% YoY amid Chinese New Year volatility

Viviana Chan
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Analysts see Macau February GGR up 4%–12.8% YoY amid Chinese New Year volatility

Investment banks are projecting Macau’s gross gaming revenue (GGR) will grow at a slower and more uneven pace in February, despite solid January performance, with forecasts for the month ranging from a 4 percent to 12.8 percent yearly rise.

Analysts broadly expect seasonal volatility linked to the timing of the Chinese New Year holiday to weigh on early-month activity before demand normalizes later in the period.

Citigroup is the most cautious among the major investment banks, forecasting February GGR of around MOP20.5 billion ($2.53 billion), representing 4 percent year-on-year growth. The bank expects February will have noticeable seasonal weakness ahead of the Chinese New Year holiday, noting that gaming activity typically slows during the Spring Festival travel rush as visitation shifts toward peak holiday dates rather than being evenly distributed across the month.

Macau January GGR totals $2.79B, up by 24% yearly

According to Citigroup, the slowest days of the year are likely to fall between February 3rd and February 18th, encompassing the period leading up to and including the early days of the Chinese New Year. 

The bank expects activity to rebound immediately thereafter, with the busiest days likely concentrated in the five days following this trough. As a result, daily GGR run rates are expected to remain uneven throughout the month despite underlying gaming demand remaining intact. Citigroup added that its combined January–February forecast accounts for the different timing of the Chinese New Year compared with last year, helping to smooth month-to-month volatility.

Cotai Strip, Macau 2025

CLSA adopts a more moderate stance, projecting February GGR to grow 7 percent year-on-year to MOP21.2 billion ($2.62 billion). While also acknowledging seasonal disruption from the Chinese New Year, CLSA analyst Jeffrey Kiang says January’s strong finish provided a stable base for the sector entering 2026. The brokerage pointed to resilient mass-market demand and steady visitation trends as supportive factors, even as daily revenue fluctuates around the holiday period.

Beyond February, CLSA maintains a constructive medium-term view on Macau’s gaming recovery, forecasting full-year 2026 GGR growth of around 5 percent year-on-year. The bank said a modestly strengthening renminbi against the US dollar, along with improving macroeconomic indicators in mainland China, should continue to underpin gaming demand over the course of the year.

Deutsche Bank is the most optimistic among the three, forecasting February GGR of roughly $2.79 billion, implying 12.8 percent year-on-year growth and exceeding broader market consensus. The bank said February comparisons remain supportive despite seasonal headwinds, noting that January’s performance exceeded historical seasonal norms and provided momentum heading into the holiday period.

Deutsche Bank also highlighted that January GGR rose 24 percent year-on-year and was only about 9 percent below pre-pandemic levels, reinforcing its view that Macau’s gaming recovery remains on track. The bank’s forecasts call for first-quarter 2026 GGR of about $8.4 billion, followed by full-year GGR of $33.2 billion, indicating continued normalization rather than rapid acceleration.

China executes four notorious Bai family members over cross-border scam crimes

Viviana Chan
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China executes four notorious Bai family members over cross-border scam crimes

China has executed four members of the Bai family mafia, a powerful clan that operated large-scale scam centers in Myanmar.

According to Chinese state media, the executions were carried out after the Supreme People’s Court approved death sentences handed down by courts in Guangdong province. The move is the latest in Beijing’s intensified crackdown on cross-border telecom fraud and related crimes.

The four executed—Bai Yingcang, Yang Liqiang, Hu Xiaojing and Chen Guangyi—were among 21 Bai family members and associates convicted of crimes including fraud, intentional homicide, intentional injury, kidnapping, drug trafficking, and operating casinos.

The Shenzhen Intermediate People’s Court had initially sentenced five defendants to death in November of 2025, including clan patriarch Bai Suocheng. Bai Suocheng later died of illness after his conviction, while the remaining defendants appealed. Those appeals were rejected in December 2025, and the sentences were subsequently approved by the Supreme People’s Court.

According to court findings, the Bai family criminal group operated primarily in the Kokang region of Myanmar, where it established multiple industrial-style compounds through self-construction and partnerships.

Authorities said the group provided armed protection to scam operators and ran telecom fraud schemes, casinos, drug production and trafficking, and organized prostitution. The court stated that the group was responsible for gambling- and fraud-related funds totaling more than RMB290 billion ($40.5 billion), the deaths of six Chinese citizens, one suicide, and multiple injuries.

For years, the Bai family, along with the Ming family and other clans, dominated the border town of Laukkaing, operating casinos, red-light districts, and cyberscam centers. Authorities said the Bais controlled their own militia and set up 41 compounds where violence, including beatings and torture, was routine.

The capital punishments follow last week’s execution of 11 members of the Ming family mafia, evidencing China’s stepped-up enforcement against scam operations in Southeast Asia that have ensnared thousands of Chinese victims.

Philippines assures Korea that visitors are safe, after 2025 visitor slump

Kelsey Wilhelm
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Philippines assures Korea that visitors are safe, after 2025 visitor slump

The Philippines is increasing efforts to boost security for visitors in the country after significant drops in its top foreign visitor market, South Korea, last year.

In 2025, South Korean visitor numbers fell by 18.49 percent yearly, to 1.34 million, a significant decline as the nation contributed 20.76 percent of all visitor arrivals during the year.

In a recent meeting, Philippine Tourism Secretary Christina Frasco sought to assure South Korean Tourism Vice Minister Kim Dae Hyen that the safety and welfare of tourists is a top priority.

Secretary Frasco noted that the Department of Tourism (DOT) has increased the number of security personnel, focusing on primary destinations including Cebu, Clark, Boracay, Palawan, Davao and Bohol.

The nation has also improved its Tourist-Oriented Police for Community Order and Protection (TOPCOP) program, providing Korean language classes for law enforcement officers,

The meeting between the officials comes as the Philippines aims to further expand air connectivity between the two nations, and with the Association of Southeast Asian Nations (ASEAN).

“We do view with grave concern the travel alerts that are given to our tourist destinations, as a result perhaps of isolated incidents,” highlighted the tourism official, quoted by the Philippine News Agency.

Fraco’s comments came on the sidelines of the ASEAN Plus Three (including South Korea, China and Japan) Tourism Ministers Meeting held last Friday, in which the ASEAN Tourism Strategic Plan (ATSP) 2026-2030 was rolled out.

Frasco at the time noted that the new plan has a “strong focus on promoting Southeast Asia as a single, seamless, and high-quality tourism destination”.

Frasco noted that “These markets continue to play a significant role in travel to the ASEAN—supporting employment, sustaining enterprises across the tourism value chain, and contributing meaningfully to economic activity across our regions”.

The executive furthered: “Their continued engagement underscores the importance of stability, predictability and confidence in travel conditions that are equally critical to sustained investment in tourism, infrastructure, services and human capital,” noted the official.

According to the 2025 World Travel and Tourism Council Economic Impact Report, travel and tourism contributed $91.8 billion to the Philippine economy last year, nearly 20 percent of its whole economy. The sector supports at least 11.2 million jobs nationwide, representing 23 percent of total national employment.

Daily Asia Gaming eBrief: Macau’s January GGR soars to $2.79 billion, highest since 2019

AGBrief Editorial
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Daily Asia Gaming eBrief: Macau’s January GGR soars to $2.79 billion, highest since 2019
Good Morning. Starting the year with a bang. In January, Macau’s gross gaming revenue (GGR) reached $2.79 billion, marking a 24 percent year-on-year increase and the highest total for January since 2019. Meanwhile, Genting Singapore has appointed its acting Chief Executive Officer, Lim Kok Thay, as Chairman and Director of Resorts World Sentosa. In an interview with AGB, Nevis Premier Mark Brantley states that the jurisdiction is aiming for top-tier status, with its newly-launched online gaming framework serving as a long-term economic diversification strategy.

What you need to know

On the radar

AGB Intelligence

MACAU

Macau gaming, satellite casinos regulatory update, Macau GGR

Momentum builds in Macau ahead of Chinese New Year holiday

Macau’s gross gaming revenue (GGR) reached $2.79 billion in January, marking a 24% year-on-year increase and the highest total for January since 2019. This strong performance, which included an 8.4% month-on-month rise from December’s GGR of $2.61 billion, indicates a robust start to the year, with expectations of further growth as the Chinese New Year holiday approaches, likely boosting both gaming and non-gaming spending. The overall trend reflects an encouraging outlook, with Macau’s 2025 GGR totaling $30.9 billion, representing a 9.1% increase from the previous year.

Nevis Premier: jurisdiction aiming for top-tier status

Nevis Premier Mark Brantley - jurisdiction aiming for top-tier status

Nevis is targeting top-tier status in the online gaming world, but not at the expense of strict regulatory compliance. Premier Mark Brantley tells AGB how a lengthy background in financial services makes the island-nation ideal for reputable operators who can boost its long-term economic diversification goals.

Industry Updates

INTELLIGENCE | ASEAN | CAREERS | EVENTS

Simon Westbury honored by iGaming Times as a 2025 IGT Leader

AGBrief Editorial
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Simon Westbury honored by iGaming Times as a 2025 IGT Leader

Recognized by both media representatives and industry colleagues, Simon Westbury, Strategic Advisor for 1xBet, has been named to the IGT Leaders 2025 list compiled by the editorial team at iGaming Times.

This recogniiton reflects Simon’s valuable contribution to the industry’s development, the high level of expertise of the team he works with, and the value of his role to the 1xBet brand.

When compiling its rankings, iGaming Times assessed the activities of professionals whose influence significantly impacts the industry’s growth. Recognition of Simon Westbury’s achievements highlights his key role as an advisor and respected member of the global iGaming ecosystem. It also shows how crucial his approach is, grounded in steady and consistent business development.

As an advisor to 1xBet, Simon Westbury helps shape the brand’s strategy and positioning in the market. He assists the company in adapting to new challenges, including rapid technological advancements and changes in market regulations.

Simon Westbury commented on receiving the award and thanked the 1xBet team: “Being recognised by both industry media and peers is meaningful because it reflects more than individual effort – it’s a recognition of the teams, organisations, and broader community working to move the sector forward. I would like to give special thanks to 1xBet for empowering me by giving me the platform to thrive, develop, and most importantly, allowing me to be me.” 

As part of his collaboration with 1xBet, Simon Westbury is implementing his strategic vision for the brand’s affiliate program, which brings together more than 500,000 entrepreneurs across more than 150 countries. Participants choose it for lifetime commissions of up to 50% for each player attracted to the platform, more than 250 payment methods, and benefits for VIP partners.

UFC returns to Macau in May, fight card yet to be revealed

Kelsey Wilhelm
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UFC returns to Macau in May, fight card yet to be revealed

The Ultimate Fighting Championship (UFC) is returning to Macau at the end of May, hosted at Galaxy Arena.

The three-day event kicks off on May 28th, with the opening rounds of ‘Road to UFC’ Season 5 taking place on the 28th and 29th, followed by UFC FIGHT NIGHT on May 30th.

The event marks the UFC’s fifth return to the SAR.

It will be hosted by Galaxy Macau, following a multi-event partnership between the gaming operator and UFC to host three Fight Night events in the 2026-2029 period.

UFC
UFC FIGHT NIGHT
UFC
Petr Yan vs. Deiveson Figueiredo

While the UFC has not yet announced which fights will be on the card for the May showdown, the event comes after a sold-out Yan vs. Figueiredo card on November 23rd of 2024 which saw the 12,000-seat arena filled to watch the Bantamweight bout. The main fight was preempted by the Women’s Strawweight bout between Yan Xiaonan and Tabatha Ricci and featured ‘Performance of the Night’ fights including Song Kenan vs. Muslim Salikhov and Wang Cong vs. Gabriella Fernandes.

UFC-Macau

In September of last year, UFC and Galaxy Entertainment announced their event partnership, with the events being held exclusively at Galaxy Arena. At the time, the UFC announced that the opening round of Season 5 of ROAD TO UFC would be held in Macau. The tournament offers Asia-Pacific’s top mixed martial arts (MMA) prospects ‘a direct path to a UFC contract’.

Dana White, UFC President and CEO previously remarked of the partnership that it “couldn’t come at a better time. It’s great for fight fans in China and massive for the sport.”

Kevin Kelley, COO of Galaxy Entertainment Group noted that “This partnership reflects our ongoing support for the Macau SAR Government’s vision to integrate tourism and sports.”

Macau’s GDP hit $51.5B in 2025, with 4Q25 reaching $14.24B

Kelsey Wilhelm
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Macau’s GDP hit $51.5B in 2025, with 4Q25 reaching $14.24B

Macau’s Gross Domestic Product saw ‘steady progress’ in the fourth quarter of 2025, rising by 7.6 percent yearly to MOP115.39 billion ($14.24 billion).

According to preliminary figures from the Statistics and Census Service (DSEC), the overall economic output in the quarter amounted to 94.1 percent of that recorded in the same period in 2019.

A 15.4 percent increase in visitor arrivals helped boost the total export of services by 9.8 percent yearly in 4Q25. The DSEC also highlighted that the visitor increase was boosted by ‘numerous large-scale events’ and ‘government efforts to attract visitors’.

Domestic demand was lifted by a 1.1 percent increase in private consumption expenditure and a 1.3 percent increase in government consumption expenditure, whereas gross fixed capital formation saw a 0.9 percent yearly rise.

Looking at FY25, the preliminary GDP figure was up by 4.7 percent yearly, to MOP417.28 billion ($51.5 billion). The figure amounts to 89.6 percent of that registered in 2019, indicating that while tourist numbers hit a record during the year, topping 40 million, the city has not yet to reach the economic peak it saw before the pandemic.

Macau hotel occupancy rate hits 89.4% for FY25, with 14.56M guests

Kelsey Wilhelm
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Macau hotel occupancy rate hits 89.4% for FY25, with 14.56M guests

Macau hotels saw a 3.1-percentage point increase in the average occupancy rate in 2025, reaching 89.4 percent.

According to the Statistics and Census Service (DSEC), there was a 1 percent increase in the number of hotel guests, at 14.56 million. The customers filled up Macau’s 45,000 available guest rooms, whose number increased by 4.9 percent yearly.

Five-star hotels led with the highest occupancy rate of 92.9 percent in FY25, while 4-star hotels saw 83.8 percent occupancy and 3-star hotels garnered 85 percent occupancy – growth of 4.4, 1.8 and 1.2 percentage points year-on-year, respectively.

Guests from mainland China comprised the majority, with a yearly increase of 1.4 percent, to 10.73 million. International guests saw a strong increase, likely boosted by operators’ and the government’s attempts to attract more foreign visitors.

International hotel guest numbers rose by 11.8 percent yearly, to nearly 1.24 million – visitor numbers from Korea increased by 9.3 percent (350,000), those from Japan rose by 25.5 percent (102,000), from Malaysia by 6.5 percent (93,000) and from Thailand by 33.4 percent (88,000). Hotel guest numbers from Hong Kong fell by 4.1 percent yearly, to 1.77 million.

The average length of stay of guests stayed the same, at 1.7 nights.

Hotels saw a strong end to the year, with the December occupancy rate hitting 90.4 percent, up by 1.2 percentage points yearly. The overall number of guests in the month amounted to over 1.25 million, an increase of 5.8 percent, with the average length of stay extending by 0.1 night to 1.7 nights.

As at the end of 2025, there were 174 hotel establishments offering accommodation services to the public in Macau, a yearly increase of one.

Face to Face: Nevis Premier Mark Brantley – jurisdiction aiming for top-tier status

AGBrief Editorial
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Face to Face: Nevis Premier Mark Brantley – jurisdiction aiming for top-tier status

Nevis Premier Mark Brantley tells AGB’s Frank Schuengel that the jurisdiction is aiming for top-tier status, with its newly-launched online gaming framework serving as a long-term economic diversification strategy.

The official highlights how a strong focus is being taken on compliance, leveraging its experience as an international financial services industry for more than four decades, with the same regulatory principles applied to banking, trusts and international companies now being extended to online gaming.

The premier notes that Nevis intends to become a major jurisdiction by attracting the right partners and building regulatory and operational capacity in a measured way, noting that “only reputable entities need apply”.

Read more.

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