The Philippine Amusement and Gaming Corporation (PAGCOR) has pledged some PHP300 million ($5.23) in financial grants to the Philippine National Police Academy (PNPA) to improve facilities and provide advanced training resources to cadets.
PAGCOR Chairman and CEO Alejandro H. Tengco made the announcement on March 14th at the 45th PNPA Alumni Homecoming celebration.
The official noted that ““While PAGCOR’s primary role is to regulate the gaming industry, we also have a responsibility to support institutions like the PNPA and the national police […] The law enforcement community has always been our top priority.”
The PHP300 million grant also covers the construction of a PNPA Alumni Association building, to serve as an admin office and dormitory. It further supports the upgrade of the PNPA’s Crime Scene Place – which serves as a training ground for forensic and investigation procedures.
It also includes the purchase of firearms training simulators and software for crime mapping and predicting policing, as well as cybercrime investigations.
“Technology is now a crucial aspect of law enforcement, and our cadets must have access to modern facilities and training innovations that will allow them to combat crime more effectively,” indicated Tengco.
The PAGCOR Chairman further noted the contributions by licensed casino foundations, which have given nearly PHP700 million ($12.21 million) to PNP-related projects since 2017, highlighting nearly PHP600 million ($10.47 million) from Newport World Resorts Foundation, a PHP40 million ($700K) donation from Bloomberry Cultural Foundation, Melco Resorts Philippines Foundation’s PHP21 million ($370K) donation and the Okada Foundation’s PHP50 million ($870K) grant.
Macau’s Chief Executive, Sam Hou Fai, has warned that the city’s fiscal revenue for 2025 may fall short of earlier expectations due to a sluggish start for the gaming industry.
Speaking at a recent briefing following China’s “Two Sessions” meetings, the official acknowledged the economic challenges facing Macau and underscored the need for significant development projects to drive future growth.
The government did not specify how much lower the revised revenue forecast might be. Earlier projections estimated Macau’s gross gaming revenue (GGR) for 2025 at MOP240 billion ($29.7 billion), an increase of about 11 percent from the 2024 budget forecast of MOP216 billion.
The 2025 projection assumed an average monthly GGR of MOP20 billion ($2.5 billion) and estimated full-year gaming tax revenue at MOP93.1 billion ($11.64 billion). However, January’s GGR of MOP18.25 billion ($2.28 billion) and February’s MOP19.74 billion ($2.47 billion) both fell short of these expectations.
As reported by AGB, investment bank UBS has forecasted that Macau’s gaming industry will experience low single-digit growth over the next few years, with total GGR projected to increase by 3 percent year-on-year through 2025 and 2026.
UBS highlights that this growth will be primarily driven by the mass market, particularly the premium mass segment, which is expected to benefit from new hotel room supply and increased tourism initiatives. The mass gaming segment is projected to grow by 3 percent annually for both 2025 and 2026.
According to forecasts from the Macao Government Tourism Office (MGTO), visitor arrivals in 2025 are expected to reach between 38 million and 39 million, approaching 2019’s pre-pandemic levels. Macau recorded 34.93 million visitor arrivals in 2024.
Structural challenges
In the same briefing, Sam acknowledged that Macau continues to face internal economic challenges, including structural issues and shifting consumption patterns. He warned that the post-pandemic recovery momentum has slowed, making fiscal revenue growth less positive than initially projected. He stressed the need to carefully assess economic trends and address internal imbalances to mitigate potential risks.
During the first plenary session of the 2025 Economic Development Commission last month, Sam admitted that Macau’s heavy reliance on the gaming industry remains a significant obstacle to economic diversification. This marked the first time the Chief Executive publicly addressed this concern, emphasizing the urgency for change.
Since taking office in December, Sam has been meeting with major associations in Macau to gather public opinions ahead of his first policy address next month. Discussions are ongoing regarding potential measures to support the city’s uneven economic recovery.
Economic diversification
To counter the potential negative impacts of economic restructuring, the top official pledged to adopt a more innovative mindset and implement stronger, practical measures to accelerate diversification. Efforts will focus on improving the business environment, fostering emerging industries, and enhancing community economic vitality.
Support for small and medium-sized enterprises (SMEs) will also be prioritized to strengthen their role in the local economy. Looking ahead, Sam emphasized the need for collaboration with various sectors to identify and develop landmark projects with significant economic impact, aiming to inject fresh momentum into Macau’s long-term growth.
As Macau approaches the end of the three-year transition period for satellite casinos under its new gaming law, lawmaker Ngan Iek Hang is urging gaming operators to increase their investment in non-gaming projects.
Macau lawmaker Ngan Iek Hang
This call comes amidst concerns about an uneven economic recovery, with non-gaming sectors lagging behind gaming revenue, and the need to evaluate the “performance” of these operators in diversifying Macau’s economy.
Ngan’s inquiry to the government concerns labor market data. According to the Statistics and Census Service, the fourth quarter of 2024 saw only 253 job vacancies within the gaming industry. Coupled with widespread shop closures and a cautious hiring atmosphere favoring versatile talent, the overall job market remains constrained.
While Macau strives for a “1+4” diversified industrial structure (referring to one dominant industry, tourism, and four emerging industries), the gaming sector remains the cornerstone, employing 18.9 percent of the workforce and significantly impacting related sectors like hospitality, catering, and entertainment.
Recognizing this, Ngan stresses the imperative for integrated tourism and leisure enterprises to bolster their non-gaming initiatives. This would drive broader industrial development, create diverse job opportunities, facilitate re-employment, and revitalize local business districts, fostering a more vibrant and diversified economy.
In alignment with the government’s push for moderate economic diversification, Ngan, a pro-government ally, requests a thorough assessment of gaming operators’ contributions. He emphasizes the need to address the limited range and quantity of new job vacancies. Specifically, he advocates for the creation of more skill-oriented, non-gaming positions, coupled with training programs to support local residents in career transitions.
Furthermore, Ngan inquires about the government’s plans, beyond current district revitalization projects, to incentivize gaming operators to increase local procurement and support the stability of local businesses through strategic partnerships. He seeks clarity on how the government intends to leverage these large companies to bolster the broader local economy.
Currently, Macau’s six gaming operators have been designated to revitalize six historic districts in the city as part of their non-gaming commitments under the new 10-year gaming concessions.
The districts include Lai Chi Vun Shipyard, Rua da Felicidade, the A-Ma area, Inner Harbor Piers 23 and 25, Avenida do Almeida Ribeiro, and Rua de Cinco de Outubro.
As reported previously, the revitalization efforts have shown some results, with over 1.7 million visits recorded during various performances and events from the initiative’s start in 2023 through December 2024.
More than 750 arts and cultural events have been held, supporting over 200 cultural and creative enterprises and creating jobs for over 200 service providers.
Melco International Development Limited has revealed that it anticipates recording an asset impairment of approximately HK$838 million ($107.8 million) to HK$1 billion ($128.6 million), primarily related to its Studio City integrated resort in Cotai, Macau.
The Board of Directors reported that this expected impairment will lead to an increase in the net loss for the year of approximately HK$774 million ($99.4 million) to HK$956 million ($122.5 million).
Consequently, Melco International projects a net loss ranging from HK$1.5 billion ($192.2 million) to HK$1.7 billion ($218.1 million) for 2024, compared to a net loss of HK$3.4 billion ($436.5 million) reported for 2023.
‘It is important to note that the anticipated impairment is classified as a non-cash item, meaning it will not affect the Group’s cash flow, operations, or overall liquidity’, the group underlined in its dispatch.
The impairment testing is carried out regularly in accordance with Hong Kong Financial Reporting Standards (HKFRS), with the primary reason for the impairment linked to the longer-than-expected ramp-up of operations following the opening of Studio City Phase 2.
Interestingly, under United States Generally Accepted Accounting Principles, no impairment has been recorded for Melco Resorts & Entertainment Limited, a listed subsidiary, as its impairment testing is based on long-term undiscounted cash flows.
“At this early stage, Melco International’s audited consolidated financial statements for the year ended December 31st, 2024, are still in preparation,” the Group noted.
Final figures, including the actual impairment amount, will be included in the Group’s annual results announcement, which will be published ‘in due course’.
Melco International Development Ltd is the parent company of Macau’s Melco Resorts & Entertainment, which operates City of Dreams Manila in the Philippines and City of Dreams Mediterranean in Cyprus, and is a partner in City of Dreams Sri Lanka.
Chinese authorities have arrested a man under charges of using an AI-powered content generation tool to spread rumors stating that Taiwan superstar Jay Chou owed some $150 million in gambling debts to a Macau gaming operator.
Last week rumors started emerging on mainland Chinese social media platforms suggesting that a “top-tier male star” had gambled heavily in Macau for an extended period.
Speculation escalated after mainland China’s rumor mill claimed that the unidentified star had gambled heavily for seven consecutive days, incurring substantial losses totaling approximately $150 million.
It was suggested that the star had to mortgage his properties and private jets in Beijing and Shanghai to settle the debts.
Netizens began to speculate about the identity of the star, with names like Jay Chou and fellow musician Wang Feng being mentioned. However, Chou’s fans quickly dismissed the claims, citing that the artist has been in Australia for the past month, focusing on his new album and spending time with family.
On March 11th, Chou’s record label, JVR Music, issued a statement addressing the rumors. The company stated, “There was a trending search on Weibo about ‘a top-tier male star gambling heavily in Macau’ and other related news.
“Some netizens insinuated that the male star was our artiste, Jay Chou. The company hereby declares that all the content of the rumor has nothing to do with Jay Chou. Please do not spread false information.”
On the same day, the 46-year-old singer took to Instagram Stories to share photos of himself working on music and enjoying time with friends, including fellow Taiwanese musicians Alan Kuo and Gary Yang, in Australia.
He captioned the photos, “Work hard, play hard,” and previously made a special guest appearance during Taiwanese rock band Mayday’s concert in Sydney on February 22th.
Amid these developments, actor Huang Xiaoming also addressed speculation he was the alleged indebted celebrity on March 12th by posting photos of a sunset on Weibo and commenting on his location in Fujian province, where he is filming a TV series with actress Zhao Liying.
When asked in the comments if he had lost over $150 million recently, Huang responded with a quip, “Is it Happy Beans?” referencing a virtual currency used in an online game.
However, on March 14th China’s Ministry of Public Security announced that the rumor was entirely false, created by a 36-year-old man named Xu Mouqiang using an AI-powered content generation tool.
Xu was said to have input sensational keywords into the software, resulting in a story that quickly gained traction on social media platforms, sparking heated discussions. For his actions, Xu has been sentenced to eight days of administrative detention for causing significant disruption to public order.
The false rumor also referenced a report from Global Financial Watch, which claimed irregular cross-border transactions related to the alleged gambling activities.
These details included 17 wire transfers amounting to RMB860 million ($118.8 million) directed to a casino account via offshore entities and flagged by the Macau Monetary Authority.
Good morning. International operators have their sights set on Thailand, but as the legislative process drags on, even more questions are arising. The criteria for the selection of companies to operate the country’s first ‘entertainment complexes’ is still very much being formulated. But that’s not stopping teams on the ground. Meanwhile, four locations have been chosen as the nation’s potential first cities for casino development, with some being more attractive than others. And in the Philippines, the nation is working hard to maintain its non-grey list status with the FATF, pushing for better AML and compliance.
Thailand has been taking steady steps to move forward with legislation for the first legal casinos in the country. But international operators are getting a bit antsy, eager to capitalize on the new market and the opportunities it brings. A top legal expert questions what criteria will be used in selecting the bidding companies, while noting that some locations will be much more attractive than others.
International casino operators are closely monitoring the integrated resort legislative progress in Thailand, as the country moves closer to legalizing casinos, but they still need further clarification on how the selection process for casino licenses will progress says Paul Crosio, managing partner at Emerald Advisory LLC.
The IR bill is expected to be confirmed next month, with Crosio noting that a key change in the draft legislation has already taken place, with removal of a previous requirement for casino operators to hold a THB50 million ($1.5 million) deposit, a move that significantly lowers the barrier for market entry.
“That requirement was scrapped when it went before the evaluation committee about two weeks ago,” Crosio said. “It would have excluded nearly the entire population, as fewer than 1 percent of Thais could meet such a financial condition.”
Instead, the government has proposed a proof of paid income tax for three consecutive years and an entry levy of THB5,000 ($150) per person for Thai nationals. “This effectively screens out a large portion of the population, including farmers and retirees, who may not have tax returns,” Crosio noted.
According to the former investment banker, now a lawyer based in Bangkok, international casino operators are closely monitoring the legislative progress and already inquiring with professionals in the field on possible future licensing requirements.
Paul Crosio
“People are waiting for the final version of the law,” Crosio said. “We know that the Hard Rock Group has set up an office in Thailand. Major players are getting ready for the lobbying and application process.”
Previous reports indicated that six to seven major international investors have already expressed interest in developing full-service entertainment complexes in Thailand.
The Thai government has mentioned several prominent names, including Las Vegas Sands, Wynn Resorts, Caesars Entertainment, MGM China, Hard Rock Group, and Melco Resorts & Entertainment.
“Right now, it’s quite opaque. How will they decide between operators? Who will be on the selection committee? What criteria will they use? These are still unanswered questions,” Crosio said.
“Some locations, like Phuket and Bangkok, will be highly sought after, while secondary cities may struggle to attract investment.”
Thailand’s Competitive Edge
If the legislation is approved, Crosio has no doubts: Thailand could quickly emerge as a premier gaming destination.
“Thailand is already a top travel spot for Chinese and Eastern European tourists. If high-end casinos and resorts are added to the mix, it will attract even more high-net-worth visitors,” Crosio said. “Compared to Macau – which has space constraints, or Singapore – which is more focused on pure gaming, Thailand could offer a more expansive, lifestyle-driven experience.”
Phuket is a particularly promising location, with plans for mixed-use resorts near major transport hubs. “It’s strategically located, an hour from Phuket City and Krabi, with proximity to the airport. It could be a game-changer for tourism,” Crosio added.
Despite uncertainties, the industry remains optimistic. “If done properly—ensuring transparency and fairness in the selection process—it will be a fantastic addition to Thailand’s tourism sector,” Crosio said.
“We’re talking about massive developments where casinos will be just a small part. The real draw will be top-tier entertainment, dining, and lifestyle experiences.”
The coming months will be crucial in determining whether Thailand can capitalize on this opportunity to reshape its tourism landscape.
Balancing morality and economic growth
Prime Minister Paetongtarn Shinawatra
Public opposition remains a challenge. While gambling has existed in Thailand in the form of state lotteries and horse racing, casino legalization has been met with skepticism.
Recently, Prime Minister Paetongtarn Shinawatra confirmed that her Cabinet will delay the final deliberation of the controversial casino bill, emphasizing the need for a thorough review and public consultation.
This comes after significant protests against the government’s plan to legalize casinos through the casino bill. The main groups opposing the bill include the Network of Students and People for Thailand’s Reform, the Dharma Army, and the Center of People for Monarchy Protection.
Protesters argue that legalizing casinos will result in social problems and weaken the nation, and claim the government is using foreign tourists as a pretext to enable Thai citizens to gamble.
“I don’t think Thais are against it per se. The concern is that those addicted to illegal gambling may become addicted to legal gambling,” Crosio said. “Thailand is a country that swings between being highly moralistic—such as banning alcohol sales on Buddhist holidays—and being very liberal, as seen with the legalization of cannabis and same-sex marriage.”
According to the expert, the push for integrated casino resorts aligns with Prime Minister Shinawatra’s broader economic strategy, which builds on a vision initially championed by her father and political predecessor, Thaksin Shinawatra.
“Thailand wants to be the tourism and leisure hub of Asia, if not the world,” Crosio said. “Without these mega mixed-use resorts, it would be at a disadvantage compared to Singapore, Malaysia, or the Philippines.”
February gaming results for pubs and clubs in Queensland came in up by 4.7 percent yearly, but fell by 8.2 percent monthly, according to data from Wohlsen Consulting.
The group notes that February results for pubs and clubs ‘were pleasing’, supported by strong trading in the Brisbane Inner area, ‘reaffirming the minimal impacts of the new casino operations’.
Operations in clubs saw a stronger uptick, rising by 9.2 percent yearly to AU$116.55 million ($73.27 million). Meanwhile, hotels brought in some AU$149.32 million ($93.88 million) during the period, up 8.4 percent yearly.
Compared to the previous month, hotels’ machine gross revenue was down by 6.5 percent, while that of clubs dropped by 10.2 percent.
Hotels continued to dominate the market, with a 56 percent market share, up 1 percentage point month-on-month.
In the most recent monthly report, Wohlsen notes that ‘The Queensland market was down by 8.2 percent on last month, generally in line with historical movements, mainly reflecting reduced trading days in February relative to January’.
The Philippine Amusement and Gaming Corporation (PAGCOR) inaugurated on Wednesday, March 12, a two-story socio-civic facility here with a Php 50 million funding from the state gaming agency.
Since its completion in August 2024, the socio-civic center has been used as a learning facility for the students of Governor Efren B. Pascual Sr. Orani Integrated Central School (GEPS-OICS). With over 1,200 enrollees, GEPS-OICS has long been struggling with classroom shortage, said School Principal Ariel Valencia.
“The PAGCOR Socio-Civic Center serves as a temporary solution to our classroom shortage problem,” he said. “Now, our Grade 11 and Grade 12 students are holding classes in spacious and comfortable learning spaces, positively impacting their performance.”
Grade 11 teacher Arianne Cruz added that by using the PAGCOR socio-civic facility as an alternative learning venue, makeshift classrooms are now a thing of the past.
“Dati, napipilitan kaming magklase sa court o sa mga silong dahil sa kakulangan ng classroom. Pero ngayon, maayos nang nakaka-pagklase ang mga bata dahil sa gusaling kaloob ng PAGCOR,” she said.
The building’s inauguration was led by PAGCOR Vice President for Corporate Social Responsibility Group Ramon Stephen Villaflor and Orani Mayor Efren Pascual Jr. Villaflor emphasized the project’s role in providing essential services to Orani locals.
“This socio-civic center is being maximized as a classroom, providing the youths of Orani with a decent learning environment,” he said. “We made this possible because of PAGCOR and the municipality of Orani’s strong partnership.”
Mayor Pascual, meanwhile, thanked PAGCOR for the new facility, which will also serve as an evacuation center and venue for other community events.
“Higit pa sa isang evacuation building ang aming natanggap mula sa PAGCOR dahil ang gusaling ito ay maaaring pagdausan din ng iba’t ibang aktibidad na makapagsusulong ng kaunlaran ng Orani,” he said. “At ngayon nga ay kasalukuyan na namin itong napapakinabangan bilang karagdagang classroom para sa aming mga mag-aaral.”
To date, PAGCOR has completed 47 socio-civic centers nationwide, with 24 more currently under construction.
The special committee overseeing Thailand’s entertainment complex project has announced Bangkok, Chon Buri, Chiang Mai, and Phuket as the first four locations for development.
According to the Bangkok Post, Nikom Boonwiset, vice-chairman of the special committee, said these cities were selected for their strategic significance and tourism potential.
The selected cities are:
Bangkok: Central Thailand’s capital and most populous city, located along the Chao Phraya River. Bangkok is a major hub for finance, business, and tourism.
Chon Buri: On the eastern coast of the Gulf of Thailand, about 80 kilometers from Bangkok, Chon Buri is a popular seaside destination known for its beaches, local markets, and industrial parks.
Chiang Mai: In northern Thailand, Chiang Mai is considered the country’s cultural capital, famous for its historic temples, vibrant markets, and relaxed atmosphere.
Phuket: Positioned in the Andaman Sea, Phuket is Thailand’s largest island, renowned for its stunning beaches, clear waters, and bustling resorts. It is a major tourist hub.
As previously reported, Thailand plans to establish between five and eight entertainment complexes across the country. However, the number of casino licenses has yet to be determined.
Nikom, who is also a member of parliament (MP) for the ruling Pheu Thai Party, revealed that the THB500 billion ($14.8 billion) project is expected to draw at least 50 million visitors each year and generate over 40,000 jobs. The initiative aims to boost Thailand’s economic growth and create significant income for the country.
Several international investors have already expressed interest in the project, Nikom noted. Each entertainment complex will include a five-star hotel, a world-class shopping mall, an amusement park, a sports arena, a convention hall, and a large exhibition center. Less than 10 percent of the total space will be designated for casino operations.
Nikom emphasized that opposition to the project has wrongly suggested that the complexes are casino-centric due to bias against the government.
Citigroup analysts predict that Thailand’s gross gaming revenue could reach $9.1 billion, making it the third-largest gaming market in the world — behind Macau and Las Vegas, but ahead of neighboring Singapore.
The Entertainment Complex Bill, which outlines the project framework, was initially scheduled to be presented at a recent cabinet meeting. However, the presentation was postponed as the Ministry of Finance continues to gather public feedback through its website until Friday.
Protest groups have raised concerns, submitting letters of objection to Government House. As a result, the ministry is expected to revise the draft and present it to the cabinet once public concerns have been addressed.
Meanwhile, Thanakorn Khomkrit, secretary-general of the Stop Gambling Foundation, has voiced concerns about the bill’s current structure. He criticized the draft for lacking sufficient safeguards to prevent youth gambling.
Thanakorn also highlighted ambiguities regarding the number of casino facilities, the size and proportion of gambling spaces, and the frameworks for licensing fees and tax rates. He further warned that the bill’s provision allowing casino licensees to collaborate with “other businesses” may open loopholes for money laundering through brokerage services, commonly known as junket operations.
