The amount of gaming tax the Macau government collected in the first seven months of 2025 rose by just 3.4 percent yearly, according to the most recent data from the SAR’s Financial Services Bureau.
In total, the government collected nearly MOP53.37 billion ($6.64 billion) in taxes on games of chance during the six-month period, amounting to 60.3 percent of that outlined in the government’s budget plan.
The figure means that July’s gaming revenue tax amounted to MOP8.11 billion ($1 billion), an 18.8 percent yearly increase.
During the month of July, Macau’s GGR reached MOP22.12 billion ($2.75 billion), marking a 19 percent increase compared to the same month last year.
For the first seven months of 2025, Macau’s casino GGR reached MOP140.89 billion ($17.53 billion), up 6.5 percent year-on-year.
Under Macau’s 10-year gaming concession system, which came into effect on January 1st of last year, the effective tax rate on casino gross gaming revenue (GGR) stands at 40 percent.
NagaCorp, the operator of Phnom Penh’s NagaWorld casino resort, posted a sharp jump in its profits for the first half of the year as Cambodia’s tourism revival and rising gaming demand boosted results.
Net profit for the six months to June 30th rose 68.9 percent year-on-year to $148.8 million, the Hong Kong-listed group said in a statement. Earnings before interest, tax, depreciation and amortisation climbed 38.5 percent to $200.3 million.
Gross gaming revenue (GGR) increased 17.2 percent to $332.3 million, with mass-market gaming leading the growth. The mass-market segment, which accounted for nearly 70 percent of total GGR, grew 20.9 percent to $232.1 million, while VIP revenue rose 9.6 percent to $100.2 million.
The company declared an interim dividend of US cents 1.01 per share, its first cash payout since 2021.
NagaCorp credited the stronger results to a rebound in Cambodia’s tourism sector, with international arrivals rising 6 percent in the first half to 3.4 million, and air connectivity nearing pre-pandemic levels.
Phnom Penh International Airport has recovered to 98 percent of 2019 traffic, while new direct routes from China, Southeast Asia and the Middle East are boosting arrivals.
The group said average daily business volumes in its mass-market segment climbed 11.6 percent year-on-year, nearly reaching pre-pandemic levels, while premium VIP rolling volumes surged 89 percent.
NagaCorp added that its long-term growth outlook remains underpinned by Cambodia’s economic expansion, rising foreign investment and government efforts to position the country as a regional tourism hub. A new international airport outside Phnom Penh is due to open in September, with capacity for up to 15 million passengers annually.
The company, which suspended dividends during the pandemic, said the resumption of payouts reflected confidence in its financial position and sustained cash flow.
Macau’s gross gaming revenue (GGR) for the first 24 days of August reached MOP17.65 billion ($2.2 billion), averaging MOP735 million ($91.9 million) per day, according to the latest analysis from investment bank JP Morgan.
The daily run-rate last week surged 9 percent week-on-week to MOP793 million ($99.1 million), compared with MOP710 million ($88.8 million) in the first 17 days of August and MOP714 million ($89.3 million) in July. This marks the highest non-Golden Week GGR since the pandemic began.
The strong performance was supported by robust summer holiday visitation. JP Morgan projects August GGR will grow 11–14 percent, reaching MOP21.9–22.5 billion ($2.74–2.81 billion), likely setting another post-pandemic record. Both VIP and mass-market gaming segments recorded solid growth, expanding 10–15 percent year-on-year month-to-date, representing approximately 30 percent and 125 percent of pre-COVID-19 levels, respectively.
Citigroup, in its latest investment memo, attributed the stronger-than-expected GGR partly to non-gaming activities, highlighting the Tencent Music Awards held at Galaxy Arena over the weekend. The event, featuring K-pop groups such as (G)I-DLE and TWICE alongside Chinese artists Zhou Shen and Jane Zhang, helped boost visitation and gaming revenue.
Industry data show VIP volumes were flat month-on-month, while mass GGR grew 4–6 percent. The VIP hold rate also improved compared with the week of August 11th, coming in between 3.3 and 3.6 percent.
In a separate note, UBS analysts observed that the sequential acceleration of GGR month-to-date reflects strong demand momentum, despite a slowdown in the event pipeline.
Investment banks remain optimistic about Macau’s growth trajectory. JP Morgan forecasts sustained double-digit GGR expansion through at least the first quarter of 2026, noting that continued growth alongside investment banks’ upgrades should attract long-only investors and support valuation expansion.
Citigroup has also raised its August 2025 GGR forecast from MOP21.75 billion to MOP22.5 billion ($2.81 billion), equivalent to 93 percent of August 2019 levels and 14 percent year-on-year growth. This implies daily GGR will average a conservative MOP693 million ($86.6 million) for the remainder of the month.
The Indian government has asked the Supreme Court for an additional week to submit further documents in a major Goods and Services Tax (GST) case involving online gaming, valued at around Rs2.5 trillion ($30 billion), according to local media outlet Storyboard 18.
This request, made on Monday, follows an earlier plea for a two-week extension and comes shortly after Parliament passed a law banning online real money gaming.
The case, one of India’s largest tax disputes, focuses on whether GST applies to online games. On August 12th, Supreme Court judges reserved their decision after hearing arguments from gaming companies, such as Gameskraft and Delta Corp, and industry groups, including the All India Gaming Federation.
Legal experts suggest the new ban on real money gaming could shape the government’s final stance. During the hearings, lawyers for the gaming industry argued that skill-based games should not be treated as gambling under India’s Constitution, citing past court rulings. They also challenged the government’s attempt to tax online rummy stakes, calling it legally baseless, and dismissed casino tax calculations as flawed.
The gaming industry urged the court to reject the tax demands, emphasizing that skill-based games are distinct from gambling. The Supreme Court’s upcoming ruling could reshape the tax framework for online gaming, especially after the recent ban.
Playson, an accomplished iGaming industry supplier, has secured a new agreement with Salsa Technology to deliver its licensed portfolio to the aggregator’s Brazilian operator network.
Following a direct integration with Salsa Technology’s state-of-the-art content aggregation platform, Salsa Gator, Playson’s top-performing titles will now be available to local operators, including popular releases from its Hold and Win collection such as Coin Strike 2, Diamonds Power and Energy Coins.
The agreement builds on Playson’s strategy for continued growth in the LatAm region, where it continues to delight a broad audience across multiple markets with mobile-first, immersive gameplay. Since launching in Brazil earlier this year after receiving approval from the Secretariat of Prizes and Bets (SPA), Playson’s content continues to grab the attention of local players.
Established in 2012, Salsa Technology is a leading aggregator offering more than 19,000 games from over 110 partner providers through one integration. By offering Playson’s award-winning games, the premium aggregator’s partners will benefit from new content that is underpinned by powerful mechanics, localized themes and popular game types that are proven to perform on a global scale.
Cristhian Zito, Head of LatAm Squad at Playson, said: “Salsa Technology is the ideal partner to further drive our growth in the Brazilian iGaming market”.
The recovery of the Philippine tourism industry is expected to play a pivotal role in driving the country’s casino sector, particularly benefiting brick-and-mortar operators, according to a report by Unicapital Securities Inc.
According to the Inquirer, in its midyear outlook, the Philippines-based full-service securities brokerage firm identified tourism as ‘a key area to watch,’ noting that the sector’s growth trajectory is ‘moving in the right direction.’ The firm stressed that stronger tourist inflows could reinvigorate gross gaming revenues (GGR) across all casino segments while supporting growth in operators’ ancillary businesses, including hospitality services.
The Philippines welcomed 5.9 million foreign arrivals in 2024, falling short of the ambitious 7.7 million target but still marking a significant rebound from pandemic lows. The Department of Tourism (DOT) reported that 2,905,363 international tourists arrived in the first six months of this year, prompting officials to recalibrate year-end projections amid global uncertainties and geopolitical tensions affecting travel patterns.
South Korea and the United States remain the country’s top source markets, while Chinese arrivals have declined sharply due to the continued suspension of e-visa issuance for Chinese nationals. DOT Secretary Christina Garcia-Frasco acknowledged this challenge, noting that China was one of the Philippines’ primary source markets before the pandemic.
To offset the decline in traditional markets, the DOT has rolled out visa-free entry for Indian and Taiwanese travelers, with direct Delhi–Manila flights expected to launch later this year. This initiative forms part of a broader strategy to reduce reliance on conventional source markets and attract visitors from emerging economies.
Unicapital emphasized that sustained recovery requires the Philippines to ‘go beyond recovery and focus on reinvention — a sharper brand, tourist-friendly policies, and seamless travel experiences.’
Casino sector reflects tourism trends
The gaming industry’s performance has closely mirrored tourism patterns, as illustrated by Bloomberry Resorts Corp.’s operations. According to Unicapital, Bloomberry‘s VIP segment at Solaire Entertainment City has come under pressure from junket closures and stricter Chinese visa policies following the exodus of Philippine offshore gaming operators. VIP gaming’s contribution to Bloomberry’s GGR fell from 40 percent in 1Q23 to 29 percent in 1Q24, and further to 19 percent in 1Q25.
By contrast, the mass-market segment at Solaire North in Quezon City has continued to gain momentum. Unicapital suggests that with a gradual recovery in foreign tourist arrivals, the VIP segment’s rebound may be ‘on the horizon.’
Tourism GDP contribution still below pre-COVID levels
Tourism accounted for 8.9 percent of the Philippines’ gross domestic product in 2024, generating PHP2.4 trillion ($43.6 billion) for the economy — an 11 percent year-on-year increase. Despite the growth, the figure remains below the pre-pandemic peak of PHP2.5 trillion ($45.4 billion) in 2020.
Unicapital attributed the gap mainly to the accommodation sector’s ongoing underperformance, weighed down by the sluggish recovery in international tourist arrivals.
The firm noted that visa facilitation in the Philippines remains less competitive compared to regional peers, with Thailand, Indonesia, and Vietnam offering more flexible and technology-enabled systems. According to World Economic Forum data, the Philippines also scored lowest among regional neighbors in tourist services and infrastructure.
Even so, Unicapital sees ‘massive headroom’ for growth. ‘With investments and support from both the public and private sectors, Philippine tourism holds the potential to regain — and even surpass — its former glory,’ the brokerage concluded.
A prominent New Zealand National Rugby League (NRL) player has been charged by Australian authorities for alleged sports betting and drugs charges.
According to reports, South Sydney Rabbitohs forward Brandon Smith is set to appear in court on September 18th.
The hooker (a position in rugby) is alleged to have supplied dangerous drugs and used or disclosed inside information for betting.
The Queensland police indicate that the investigation is ongoing.
Smith had previously been questioned by authorities but later released without charge, indicating that the athlete had been “cooperative”.
Smith’s club indicated that they are aware of the allegations and have informed the NRL’s Integrity Unit.
Authorities did not provide further details into the type of betting information Smith may have provided, or what potential gains could have been realized due to the disclosure.
Reports indicate that maximum charges could carry a penalty of up to 15 years.
Organized by MGM, the 8th MGM Golden Lion Summer Camp was successfully held from August 13 to 15, 2025. For the first time, the event was held in the Guangdong-Macao In-Depth Cooperation Zone in Hengqin.
Themed on “Unleashing Youth Potential”, the three-day, two-night camp featured not only comprehensive training but also site visits to key national livelihood projects in the zone. This initiative aimed to help young participants explore their potential, expand their social networks, and strengthen their capacities, while also deepening their understanding of the opportunities and challenges in the zone. This year’s camp attracted 200 junior and high school students from over 40 local schools, setting a new record in both participation and school representation.
Participants engaged in a variety of integrated training activities, combining outdoor orienteering, team-building exercises, and creative problem-solving challenges, aiming to cultivate their adaptability and collaboration skills. The itinerary also featured visits to key livelihood projects in Hengqin, such as the BY-HEALTH Transparent Factory and the Traditional Chinese Medicine Science and Technology Industrial Park of Co-operation between Guangdong and Macao, providing participants with firsthand insights into the zone’s latest developments.
The camp was officially kicked off with a ceremony held on August 13 at the MGM MACAU Ballroom, where distinguished guests encouraged the participants to embrace this meaningful journey of cultivating independence and personal growth.
Wendy Yu, Executive Vice President of Human Resources of MGM, said, “MGM has long been committed to promoting the holistic development of youth. Through diverse experiential learning activities, we aim to help them discover their potential, understand the importance of teamwork, and develop problem-solving skills. Since its launch in 2012, the Golden Lion Summer Camp has been well-received by local youth and continues to grow in both scale and content. Our objective is to provide enriching training that empowers the younger generation to enhance themselves and unlock their potential, nurturing future leaders for Macau. As this year marks our first venture into Hengqin, we hope participants will grow through challenges, build confidence through collaboration in this camp, thus contributing to Macau’s integration in national development with youthful energy.”
Indian authorities are now investigating numerous shell companies and casinos in Sri Lanka, Nepal and Georgia, linked to a money laundering case involving a top Indian politician.
According to reports, the Enforcement Directorate (ED) is investigating possible links between Karnataka Congress MLA K C Veerendra (also know as ‘Puppy’) and online and offline betting operators.
The ED over the weekend named five casinos in Goa, including Casino Gold, Oceans Rivers Casino, Casino Pride, Ocean 7 Casino and Big Daddy Casino, as well as online betting sides as being linked to the politician.
Authorities believe that the casino operations were assisting in laundering money derived from cyber fraud.
Authorities are also looking into casinos in Sri Lanka, Nepal and Georgia, after indications that Veerendra may have been using them as offshore businesses.
According to reports, authorities found “profit-sharing details from some premises for casinos operating outside India”.
Veerendra is being held in custody until August 28th, after his arrest in Sikkim on Saturday.
The politician is also being investigated over his move to purchase Land Casino from ‘lottery king’ Santiago Martin, who is under a separate investigation for money laundering.
Martin is known for large political contributions to various Indian political parties.
Australia’s financial watchdog has mandated that Binance appoint an external auditory ‘after identifying serious concerns with the crypto exchange’s anti-money laundering and counter terrorism financing (AML/CTF) controls’.
Binance’s Australian arm, Investbybit Pty Ltd, is registered under the Australian Transaction Reports and Analysis Center (AUSTRAC) as a digital currency exchange provider.
The financial oversight body notes that the latest action against Binance ‘follows regulatory engagement across the priority sector’.
Binance is widely regarded as the world’s largest cryptocurrency exchange, with a market valuation of over $62 billion. It holds regulatory approvals and permissions in around 20 jurisdictions.
AUSTRAC’s CEO, Brendan Thomas, noted that “AUSTRAC is committed to working with industry to ensure strong safeguards are in place to make it harder for criminals to move and conceal illicit funds using digital currencies”.
The executive furthered that “Big global operators may appear well resourced and positioned to meet complex regulatory requirements, but if they don’t understand local money laundering and terrorism financing risks, they are failing to meet their AML/CTF obligations in Australia”.
This is not the first time that Binance has come under regulatory oversight, having previously paid over $4 billion to resolve a United States Justice Department investigation in 2023, a CN$6 million ($4.38 million) administrative penalty in 2024 by Canadian authorities and recently skirting a US Securities and Exchange Commission (SEC) civil lawsuit.
AUSTRAC notes that its concerns over Binance’s Australian operations were ‘prompted by several issues including Binance’s latest independent review which was limited in scope relative to its size, business offerings and risks’.
The watchdog also ‘flagged concerns with high staff turnover at Binance and a lack of local resourcing and senior management oversight, raising questions about the adequacy of its AML/CTF governance’.
Binance Australia was given 28 days (from August 22nd) to nominate external auditors for AUSTRAC’s consideration and selection.
