Home Blog Page 465

Macau’s gaming tax rebates on foreign bets a “failure,” says industry insider

Viviana Chan
-
0
Macau’s gaming tax rebates on foreign bets a “failure,” says industry insider

U Io Hung, president of the Macau Professional Association of Gaming Promoters, has criticized Macau’s tax rebate policy on foreign bets, calling it a “failure.” Designed to attract more international gamblers and boost the local gaming economy, the initiative has failed to produce meaningful results, he claims.

Speaking to AGB, U assessed the policy’s effectiveness following confirmation from the Macao Government Tourism Office (MGTO) that total approved tax breaks on gross gaming revenue from international players increased in 2024 compared to the previous year. However, no specific figures were disclosed.

Despite this reported increase, U dismissed the impact as negligible, stating that the amount of gaming tax breaks granted remained “extremely low.”

“To get the tax break, foreign players need to gamble in small, isolated spaces. No one wants that,” U explained.

Under Macau’s gaming law, updated in 2022, operators must pay a 40 percent levy on their gross gaming revenue, including a 35 percent gaming tax and additional contributions of up to 5 percent for public and social initiatives. To encourage international market expansion, the government allows operators to apply for a rebate of up to 5 percent on revenue generated from foreign players.

All six gaming concessionaires have established exclusive betting zones for international visitors. By April 2023, authorities confirmed the existence of 12 such designated areas across Macau.

Similarly, Bill Hornbuckle, chief executive officer and president of MGM Resorts, the parent company of local gaming operator MGM China Holdings, remarked last year that betting zones restricted to foreigners had proven ineffective.

Official data show that Macau recorded 34.93 million visitor arrivals in 2024, a 23.8 percent increase year-on-year. Among them, 2.42 million were international visitors, marking a 66 percent surge. However, despite this rise, international visitors still accounted for only 6.9 percent of total arrivals.

According to the Financial Services Bureau, Macau collected MOP88.13 billion ($11 billion) in gaming tax revenue in 2024, a 35 percent year-on-year increase. This growth aligned with a 23.9 percent rise in gross gaming revenue to MOP226.78 billion ($28.7 billion). The government’s 2025 budget projects gaming tax revenue to climb further to MOP93.12 billion ($11.8 billion).

Daily Asia Gaming eBrief: Malaysia’s ruling on gambling debts causes concern

AGBrief Editorial
-
0
Daily Asia Gaming eBrief: Malaysia’s ruling on gambling debts causes concern
Good morning. Time to collect. But, apparently, not in Malaysia, as the court has ruled in favor of a top businessman who allegedly has dues to pay to Naga. The ruling sets an interesting precedent, meaning companies aiming to go after their loans should have increased caution. Meanwhile, in Macau, SJM keeps fighting, delivering promising results, but with analysts still concerned over what the future will bring. And, in the Philippines, new rules from the central bank are causing rifts, as they ban gambling-related offerings for digital markets.

What you need to know

ASEAN Gaming Summit 2025

On the radar

AGB Intelligence

MALAYSIA

Malaysia to regulate online gambling

Court ruling causes concern over debt collection

A new court ruling in Malaysia has gaming operators concerned over how exactly they can collect their credit lines offered to customers. A top court has determined that, in this particular case, there is no chance of enforceability by the company, meaning the punter can walk away with the borrowed, and lost, cash. This could set an interesting precedent going forward, which might not be healthy for operators. 

Industry Updates

Corporate Spotlight

UU Wallet: Bridging traditional finance and Web3 flexibility

UU Wallet unveils comprehensive Digital Finance Solutions at ASEAN Gaming Summit 2025

With a strong focus on security and efficiency, UU Wallet stands out with its instant cryptocurrency exchange capabilities and globally accepted prepaid card, making it a preferred choice for those navigating the complexities of digital finance.

MEMBERSHIP | INTELLIGENCE | ASEAN | CAREERS

Grand Lisboa Palace growth lags, unlikely to yield positive value in foreseeable future: Seaport

Viviana Chan
-
0
Grand Lisboa Palace growth lags, unlikely to yield positive value in foreseeable future: Seaport

Seaport Research has highlighted that, while SJM’s Grand Lisboa Palace (GLP) continues to ramp up operations, its return on investment remains disappointingly low and is unlikely to generate any positive value relative to the cost of investment in the near future, if at all.

This assessment follows the release of SJM’s 4Q24 results. Vitaly Umansky, senior analyst at Seaport, noted that the ramp-up at GLP is a critical driver for the stock to show positive momentum. Meanwhile, SJM’s strategy for GLP is still evolving. The company has been strengthening its sales and marketing team in recent quarters, which has led to increased costs.

It is worth noting that GLP’s operating expenses rose by 2 percent quarter-on-quarter in 4Q24. The company introduced an expanded premium play program (VIP and Premium Mass) at both Grand Lisboa and GLP in 3Q24, and Umansky expects the development of marketing and service capabilities for the premium mass segment to take additional time.

Grand Lisboa Hotel, Macau, SJM Resorts

Market share 

SJM reported a net profit of $101 million in 4Q24, marking its first profit since 4Q19. However, its market share for the quarter declined slightly to 13.5 percent from 13.9 percent in 3Q24, with the share of operated casinos (excluding satellites) decreasing from 8.8 percent in 3Q24 to 8.6 percent.

Seaport estimates that SJM lost market share in January but likely regained some ground in February. However, the firm does not foresee significant market share growth for SJM in the near term.

On the lower end of the market, SJM appears to be gaining some share, particularly among day-trippers, as other operators have focused more heavily on premium play. This may provide short-term benefits for SJM, but Seaport anticipates that other operators will increasingly target the base mass segment in the upcoming quarters.

Karl Lagerfeld

Dividends not expected to resume until at least 2026

Seaport does not expect dividends to resume until at least 2026, citing that SJM is continuing to reduce debt through free cash flow.

Meanwhile, the company’s operating expenses (OPEX) rose by approximately 7 percent quarter-on-quarter, slightly lower than the 9 percent increase in the previous quarter. OPEX is expected to continue rising over the next few quarters, especially at GLP. However, excess costs at the satellite business are gradually decreasing, and EBITDA profitability in the satellite business should improve, although satellites contributed less than 4 percent of the company’s EBITDA in 4Q24. 

Seaports also mentioned that the future of SJM’s satellite operations beyond 2025 remains uncertain due to the current gaming law, with no clarity from either the government or SJM regarding the outcome.

Macau’s Paradise Ent books strong profit increase for FY24

AGBrief Editorial
-
0
Macau’s Paradise Ent books strong profit increase for FY24

Casino management services and electronic gaming equipment company Paradise Entertainment has announced a strong increase in profit for 2024, totaling HK$381.9 million ($49.1 million), compared to HK$60.9 million ($7.84 million) for 2023.

The group attributed the rise to a 27.2 percent yearly increase in the group’s revenue from its casino management services in Macau at Kam Pek Paradise, under SJM’s satellite casino license. The group also recorded a strong increase in the number of patrons to the casino.

Kampek Casino-Macau, Paradise Entertainment

Furthermore, LMG (live multi game) terminals were a strong draw, while sale and leasing of electronic gaming equipment and systems were up by 543.1 percent yearly, to HK$308.5 million ($39.7 million).

The group highlighted the expansion of the ‘facilitated individual travel scheme’, as well as increase MICE and event efforts to drive tourists to Macau as contributors to the success.

The group noted that it has ‘benefited’ from the efforts, ‘boosting the number of patrons at Casino Kam Pek Paradise and enhancing the appeal of the Group’s electronic gaming equipment and systems (including the LMG terminals and related products) to casino operators in Macau’.

AGEM Index grew by 9.2% m-o-m in February, up 41.2% yearly

AGBrief Editorial
-
0
AGEM Index grew by 9.2% m-o-m in February, up 41.2% yearly

The AGEM Index saw steady growth in February, rising by 9.2 percent from the prior month. Particularly, however, the Index saw healthy growth of 41.2 percent compared to February 2024.

During the month, eight of the 12 AGEM Index companies reported stock price increases, which resulted in eight positive contributions and four negative contributions to the AGEM Index.

The largest positive contribution to the monthly index was Konami Corp, whose 27.8 percent monthly rise in stock price caused a 130-point gain for the index. Only a yearly basis, the stock price was up by 81.5 percent.

Meanwhile, Light & Wonder saw its stock price increase by 26.8 percent month-on-month, leading to a 63.17-point gain for the index. On a yearly basis, the stock price was up 10.9 percent.

Transact booked a 11.4 percent stock decrease monthly, and a 41.6 percent yearly drop, however this caused just a 0.11-point loss for the index.

All three major US stock indices saw decreases from January. The NASDAQ fell by 4 percent over the month, while the Dow Jones Industrial Average dropped by 1.6 percent and the S&P 500 decreased by 1.4 percent from January.

Soft2Bet reveals how AWS integration transforms provider capabilities

AGBrief Editorial
-
0
Soft2Bet reveals how AWS integration transforms provider capabilities

Soft2Bet, a leading provider of turnkey B2B solutions, has revealed how a partnership with Amazon Web Services (AWS) unlocks faster product delivery, enhanced user experiences, and significant operational cost savings for providers.

The recently published AWS case study highlights how strategic cloud integration has empowered Soft2Bet to achieve scalable growth and operational efficiency in highly competitive industries.

Before migrating to AWS, Soft2Bet faced operational challenges stemming from disparate data sources, high infrastructure costs, and slow time to market for new products. Accessing real-time insights was limited, hindering rapid decision-making and agility. Addressing these issues meant focusing on near real-time analytics, optimising infrastructure costs, accelerating partner onboarding, and delivering smoother, lower-latency user experiences.

Soft2Bet MEGA workshop, gamification solution, SBC Summit Lisbon 2024

Tech excellence is deeply embedded in Soft2Bet’s DNA, making the company a true game-changer in the industry. Beyond achieving exceptional platform performance and delivering strong results for clients, Soft2Bet has developed innovative tech solutions like MEGA. This proprietary platform sits at the intersection of the casino and casual gaming industries, blending the excitement of betting with engaging gamification mechanics. MEGA’s unique approach boosts player engagement and retention, setting new industry standards while being powered by reliable casino infrastructure.

To achieve its goals, Soft2Bet collaborated with AWS partner Snowflake to build a unified data ecosystem that eliminated scaling limitations. The integration utilised Amazon S3 for scalable data storage and Amazon RDS for efficient database management. Snowflake, accessed via AWS Marketplace, ensured secure management of vast data sources while delivering the flexibility needed for rapid adaptability through a robust casino infrastructure.

The impact of this integration was transformative. Compute costs dropped by 55%, allowing for more strategic resource allocation. Time to market improved by 200%, enabling faster product rollouts, while partner onboarding times were reduced by 70%, streamlining collaborations. Users benefited from significantly lower latency and smoother product interactions, all backed by high-performance casino infrastructure, leading to stronger engagement and satisfaction.

The internal impact has been equally impressive. Soft2Bet’s developers can now rapidly prototype and test concepts, reducing proof-of-concept times from weeks to days or even hours. This agility ensures that Soft2Bet remains at the forefront of innovation, continuously delivering value to both partners and end users.

Yoel Zuckerberg, Chief Product Officer at Soft2Bet, commented: “The collaboration with AWS has transformed our operations. We now have the agility to draw business insights quickly, connect to as many data sources as needed, and most importantly, drive better results for our clients. With AWS-powered casino infrastructure, we’ve accelerated time to market, reduced costs, and significantly enhanced user experiences benefiting both our partners and end users.”

Soft2Bet’s successful partnership with AWS stands as a benchmark for providers aiming for operational efficiency, scalable growth, and superior customer experiences. The company remains committed to leveraging cloud-based solutions to drive future innovation, continuously enhancing its technological capabilities to meet evolving market demands.

Paradise Co sees drops in casino results for February, at $48.6M

AGBrief Editorial
-
0
Paradise Co sees drops in casino results for February, at $48.6M

South Korean foreigner-only casino operator Paradise Co. has reported a drop in casino revenues for February compared to the previous month, and compared to the same period of last year.

According to its most recent consolidated financial statements, the casino generated KRW70.21 billion ($48.63 million) in revenue for February, reflecting a drop of 11.5 percent from January’s revenue of KRW69.74 billion ($47.7 million).

However, this figure represents a 2.13 percent decrease compared to January 2025, when revenues were KRW71.75 billion ($49.7 million).

Analyzing the revenue breakdown, table games contributed KRW65.95 billion ($49.7 million), down 11.86 percent from the same period last year as well as dropping 1.7 percent year-on-year.

Currently, the company is developing a $400 million flagship hotel project, set to begin construction in the first quarter of 2025, with an opening scheduled for 2028. This move is part of a revamped strategy aimed at attracting more international high-rollers to its properties.

Jumio highlights eKYC compliance at ASEAN Gaming Summit to support Philippines gaming operators

AGBrief Editorial
-
0
Jumio highlights eKYC compliance at ASEAN Gaming Summit to support Philippines gaming operators

All licensed online gaming operators in the Philippines are required to establish strong KYC processes for player registration and login, comply with age restrictions, and ensure players register only one account per platform.

These requirements, while enforcing responsible gaming, can create friction in the player journey.

“Philippines gaming operators are looking for solutions to comply with the local regulator’s KYC requirements without compromising their player experience. Our AI-powered platform helps them achieve both objectives by automating identity verification, age checks, and fraud prevention, delivering a fast, seamless experience that keeps players engaged,” said Marvin Miao, regional director, APAC at Jumio.

Jumio’s comprehensive eKYC solution for gaming operators includes:

  • Real-time ID and age verification to prevent underage gambling;
  • Facial biometric authentication with advanced liveness detection to deter impersonation and account takeovers;
  • Integrated fraud risk signals to identify suspicious behaviors and transactions, preventing multiple account creation;
  • Automated KYC workflows that streamline verification while enhancing the player experience.

For more information about Jumio’s gaming solutions, stop by our ASEAN Gaming Summit booth or visit www.jumio.com/gaming.

Light & Wonder and Lightning Box unleash Thunder Drums Leaping Lions

AGBrief Editorial
-
0
Light & Wonder and Lightning Box unleash Thunder Drums Leaping Lions

Set against traditional temples and dramatic skies, the vibrant title brings its iconic Asian theme to an iGaming audience, promising exciting gameplay and rewarding mechanics.

The 3×5 reel grid offers 243 ways to win, inviting players to experience the thrill of bold features and rhythmic drumbeats as they spin the reels, setting the scene for potential big payouts.

The 3 Pot Persistence mechanic is central to the slot’s dynamic gameplay, where Red, Green, and Blue Scatter Coins trigger engaging features when they match the colours of the three thunder drums at the top of the screen.

Landing five or more Gold Coins activates the Free Games feature, resetting the respins counter to three with every Scattered Gold Drum that appears. If Blue Coin or Green Coin lands with the five Gold Coins, Thunder Prize will be added at the beginning of the feature.

With expanding wilds and jackpots that reach up to 5,000x, Thunder Drums™ Leaping Lions combines oriental aesthetics with high-volatility gameplay for an unforgettable slot experience.

ThunderDrums™ Leaping Lions is a Light & Wonder title available exclusively for online players at Draft Kings in New Jersey, Michigan, and Ontario.

DraftKings

Michael Maokhamphiou, Operations Manager at Lightning Box, said: “Thunder Drums™ Leaping Lions is an exhilarating slot that combines immersive visuals with innovative gameplay mechanics. Players will love the thrill of persistence pots and the exciting possibilities unlocked with every spin.”

Rob Procter, VP of Game Development at Light & Wonder, added: “Adapting a fan-favourite land-based game for online audiences is always an exciting challenge, and ThunderDrums™ Leaping Lions captures the essence of what made the original so popular. We are confident this vibrant, feature-rich title will resonate with operators and players alike.”

Habanero boosts European presence following license approval in Denmark

AGBrief Editorial
-
0
Habanero boosts European presence following license approval in Denmark

Premium slots and table games provider Habanero has further boosted its European footprint after gaining its Danish license.

The market has continued to grow over the last decade, with online revenue projected to hit more than $1.35bn by 2029 as the market maintains it maturation.

Habanero’s full offering has been certified for the Scandinavian country, including Totem Towers, Jump, and recent release Hyper Hues.

It follows the awarding of a Greek license and a regulatory accreditation in Brazil in recent weeks as the provider continues to pursue certification in regions it feels it can offer tangible value to operators.

Arcangelo Lonoce, Head of Business Development at Habanero, said: “We are thrilled to gain our third license of the year, this time in Denmark. A market that has continued to progress in Europe, we are confident that our diverse portfolio of games will continue to resonate well with the ever-changing player demographic across the country.”

1...464465466...1,812Page 465 of 1,812