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Daily Asia Gaming eBrief: Macau GGR projected to grow 8% in 2025

AGBrief Editorial
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Daily Asia Gaming eBrief: Macau GGR projected to grow 8% in 2025
Good morning. The only way is up. Strong spending from Chinese tourists in 2025 is expected to boost Macau GGR by 8 percent, with both mass and VIP markets to report increases, Goldman Sachs predicts. In Japan, a public interest organization based in Tokyo, has warned that online gambling addiction has become a significant issue in Japan since the onset of the COVID-19 pandemic.

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Cotai Strip, Macau, Gaming Operators, Casino Operators

Strong travel spending from Chinese tourists to boost Macau’s GGR

Goldman Sachs forecasts an 8 percent year-on-year growth in Macau’s gross gaming revenue (GGR) for 2025, fueled by robust travel spending from Chinese tourists, which is expected to outpace general consumption trends in China, projected to grow by 7 percent. Analysts predict a 9 percent rise in mass GGR and a 4 percent increase in VIP revenue, with EBITDA expected to grow by 11 percent.

Industry Updates

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From Underdogs to Elites: The MongolZ’s Ascent to World’s Top 3

The MongolZ Climbing the ranks to become a Top 3 Esports Team

Established over a decade ago, The MongolZ has experienced numerous roster changes. However, in 2023, The MongolZ made a triumphant return, fueled by a robust partnership with 1xBet and the emergence of a new generation of talented Mongolian players.

Altenar brings premium sportsbook solution to Asia

Altenar brings premium sportsbook solution to Asia

Altenar, a leading sportsbook provider is bringing its global expertise to Asia, looking to expand its operations. Since 2011, Altenar has powered hundreds of online sports betting sites worldwide and is a major B2B provider in Europe and Latin America licensed markets.

MEMBERSHIP | INTELLIGENCE | ASEAN | CAREERS

Association sounds alarm over online gambling addiction in Japan

Viviana Chan
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Association sounds alarm over online gambling addiction in Japan

This problem has worsened particularly since the onset of the COVID-19 pandemic in 2020. According to The Japan Times, the association reported that consultation requests have surged 11-fold over the past five years.

The organization highlighted a troubling trend of individuals resorting to illegal part-time jobs to finance their gambling activities. “I feel a sense of crisis over the current situation in which many people are addicted to gambling and commit crimes,” said Noriko Tanaka, the head of the association. “Illegal online casinos must be eradicated.”

Online gambling addiction, Japan

Between January and November 2024, the association received 91 consultation requests concerning family members gambling on online casinos. In comparison, only eight such cases were reported in 2019, prior to the pandemic’s impact on societal behavior.

Online casinos have significantly contributed to gambling addiction by providing 24/7 accessibility via smartphones, enabling users to gamble from the comfort of their homes.

A recent survey conducted by the association found that 30 percent of its 681 respondents reported that family members addicted to gambling had engaged in criminal activities, including embezzlement, theft, or involvement in illegal part-time jobs.

This issue is not unique to Japan. In October last year, data from South Korea revealed that the number of teenagers struggling with gambling addiction had more than doubled over the past four years, accompanied by a staggering 14-fold surge in online casino participation.

Representative Cho Gye-won of the opposition Democratic Party of Korea noted that, according to data from the Korea Center on Gambling Problems (KCGP), the number of teenagers receiving gambling addiction counseling has risen from 1,286 in 2020 to 2,665 by the end of August this year. While more teenagers are seeking help, the severity of their addiction remains concerning.

Imagine Live appoints Martin Martirosyan as Group CEO

AGBrief Editorial
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Imagine Live appoints Martin Martirosyan as Group CEO

Imagine Live, the leading provider of live dealer solutions, has appointed Martin Martirosyan, PhD, as its new Group CEO.

With a PhD in Economics and a proven track record in business leadership, market expansion, and scale-up growth, Martin Martirosyan brings a wealth of expertise to his new role at Imagine Live. He joined the leadership team of the Digitain Group, founded by Mr. Vardges Vardanyan, as Deputy CEO in 2023, which he will retain. Martirosyan has already made a significant impact across several geographical operational business areas.

Vardges Vardanyan, Digitain
Vardges Vardanyan, Founder, Digitain

Vardges Vardanyan, Founder of the Digitain Group, emphasized the importance of this appointment: “Martin has played a crucial role in our growth success since he joined last year as Group Deputy CEO, a role he will continue to hold in conjunction with the Group CEO role of Imagine Live.”

“As we strategically expand across various regulated markets, it is vital that we realign our leadership team and business unit structures. Martin’s extensive leadership and multi-jurisdictional market experience position him perfectly to lead our team, and with Imagine Live’s exceptional performance in the premium segment of live dealer solutions, we anticipate remarkable expansion under Martin’s guidance, providing top-tier service to our B2C partner operators in high-value regulated markets.”

Martin Martirosyan affirmed his commitment: “I am excited to take on the role of Group CEO. Imagine Live is poised for greatness, with operations expanding across continental Europe, the United Kingdom, and beyond. Our organisation exemplifies excellence in its leadership, culture and technology delivery, as evidenced by our numerous international and local industry peer-to-peer awards. I am ready to drive this next phase of Imagine Live’s growth story forward.”

BetConstruct’s Strategic Milestones: Reflecting on 2024 achievements and ambitious goals for 2025

AGBrief Editorial
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BetConstruct’s Strategic Milestones: Reflecting on 2024 achievements and ambitious goals for 2025

BetConstruct, the award-winning developer and provider of online and land-based gaming solutions with development, sales, and service centers worldwide, has redefined excellence in the iGaming landscape through strategic innovation and pioneering market expansion throughout 2024.

The company’s journey has been marked by transformative achievements, from securing prestigious licenses and launching revolutionary products to hosting landmark industry events that have set new benchmarks. As we enter 2025, these milestones have laid the groundwork for an ambitious new chapter in iGaming evolution, promising partners unparalleled opportunities for growth and success.

Global Reach

BetConstruct has significantly expanded its global market presence throughout 2024. The company’s active participation in major industry events across Asia, Africa, LatAm, and Europe has further strengthened its international position as an industry leader. 2024 also saw BetConstruct acquire the Tobique Gaming Licence, establishing a strategic foothold as a compliant entity in the industry. 

Ortak x B.F.T.H. Arena Awards

In addition to maintaining its position as an active exhibitor in prestigious industry events, BetConstruct hosted the two landmark Ortak x B.F.T.H. Arena Awards events in 2024. The second edition in Yerevan, Armenia set new industry standards, followed by an unprecedented third edition in Ras Al Khaimah, UAE – a first of its kind. 

During Ortak x B.F.T.H. Arena Awards 3.0, BetConstruct Co-Founder and visionary Vigen Badalyan presented key updates on BetConstruct’s collaboration with the Ortak marketplace, including the brand new Ortak SnowBall feature. The event also turned heads with the recently launched PopOK Property blockchain raffle that included a grand prize of a luxury apartment in Ras Al Khaimah.

Expansive Offerings

BetConstruct has been consistently upgrading its products year after year, and this year was no exception, continuing the company’s commitment to innovation and improvement. BetConstruct’s comprehensive Casino Suite and Sportsbook have retained their household status, as have the myriad of products and services offered by the company.

In 2024, the team behind BetConstruct introduced The Last Battle, a next-level loyalty program that enhances player retention and boosts engagement to new heights. Making its debut at SBC Summit Lisbon, The Last Battle has met rave reviews and is being perfected to include even more features. Also highlighted this past year as the Spring BME business management environment that is set to revolutionise how partners launch and operate their iGaming businesses.

Future Vision 

After the successful “It’s Your Dream” campaign, BetConstruct introduced the Center of Gravity concept at the Ortak x B.F.T.H. Arena Awards 3.0, presenting a new direction for the iGaming industry. The company’s strategic focus on product development, market expansion, and regulatory compliance has established a robust foundation for 2025.

Join BetConstruct at ICE Barcelona 2025

BetConstruct invites industry professionals to explore partnership opportunities at ICE Barcelona, January 20-22 2025. Visit Stand 4A20 at Fira Barcelona Gran Via to witness the full implementation of the Center of Gravity concept and discover the company’s latest innovations – all presented at the largest stand ever in the company’s 20-year-long history.

 

SJM announces Open Auditions for Grand Lisboa Palace Macau residency show

AGBrief Editorial
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SJM announces Open Auditions for Grand Lisboa Palace Macau residency show

SJM Resorts, S.A. (SJM), in collaboration with the celebrated Hong Kong Ballet, has announced the invitation of talented male and female dancers with strong ballet or contemporary dance skills to audition for The Adventures of ALICE ＠ Grand Lisboa Palace Resort Macau, a new 2025 residency show.

This reimagined classic story will come to life through captivating performances, imaginative costumes, up close interaction with the audience, under the guidance of artistic professionals. Successful candidates will be engaged on short-term performance contracts and play integral roles in a production designed to enchant audiences of all ages. 

SJM announces Open Auditions for Grand Lisboa Palace Macau residency show

A Platform for Artistic Excellence and Collaboration 

Septime Webre, Hong Kong Ballet
Septime Webre, Hong Kong Ballet, Artistic Director

Joining the The Adventures of ALICE @ Grand Lisboa Palace Resort Macau residency show offers dancers an extraordinary opportunity to advance their careers while showcasing their talents. This show is inspired by the original spectacular production ALICE (in wonderland) choreographed by Hong Kong Ballet Artistic Director Septime Webre, which delighted young and old audience in Beijing, Hong Kong and the US with rave reviews.

Under the mentorship of Septime Webre, and distinguished ballet masters, participants will refine their skills through professional-level rehearsals and innovative choreography in this residency show. The collaboration also promotes cultural exchange, uniting talent from Macau, Hong Kong, and beyond in a vibrant, multicultural setting.

A Spectacular Show Brings a Fantastical World to Life 

The exciting The Adventures of ALICE @ Grand Lisboa Palace Resort Macau residency show choreographed by Septime Webre will be performed on selected days throughout 2025 at the Grand Lisboa Palace Resort Macau. Rehearsals will start as early as March, leading up to its official debut in April. This immersive experience features a lively parade, whimsical performances, and interactive workshops.

The production will take place on a state-of-the-art 360-degree stage at the Atrium on Level 1 of Grand Lisboa Palace Resort Macau, complete with advanced lighting, sound, and projection technology, purpose-built for the show. Performances will run on weekends and public holidays, inviting audiences to dive into a magical world expressed through dance.

Grand Lisboa Palace Macau

Audition Details: 

  • Date: 11 January 2025
  • Time: 1:00 p.m. – 4:00 p.m. 
  • Venue: Rehearsal Studio, Macao Conservatory School of Dance 
  • Date: 12 January 2025 
  • Time: 1:00 p.m. – 4:00 p.m. 
  • Venue: Studio 6 of The Hong Kong Academy for Performing Arts 

Eligibility: 

  • Male and female dancers aged 18 or above. 
  • Strong classical and contemporary training or experience required. 

Application Requirements: 

  • A video showcasing performances in classical and contemporary ballet. A personal résumé in English or Chinese. 
  • Photos: one headshot and additional dance shots. 
  • Registration on the SJM Job Career website. 

To apply, please email your materials before 9 January 2025 to [email protected]. For inquiries, contact us at (853) 6882 7060. 

SJM announces Open Auditions for Grand Lisboa Palace Macau residency show1

Special economic zones also covered by POGO ban, CEZA affirms compliance

Kelsey Wilhelm
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Special economic zones also covered by POGO ban, CEZA affirms compliance

The Cagayan Economic Zone Authority (CEZA) has been reminded that it, alongside other special economic zones, are not exempt from the Philippine Offshore Gaming Operators (POGOs) ban.

According to Department of the Interior and Local Government (DILG) Secretary, Juanito Victor Remulla, Executive Order 74 makes it “very clear that […] CEZA, PEZA (Philippine Economic Zone Authority) zones are not exempted. We have no boundaries. There are no walls (too) high for us to climb. All these areas, we can inspect”.

This comes after reports emerged early on Friday that CEZA had expressed that it should not be covered by the POGO ban. The articles published on multiple Philippine news outlets were later taken down or altered.

Cagayan Freeport Zone - CEZA

The latest statements, as that cited by GMA News, indicated that CEZA’s CEO Katrina Ponce Enrile affirmed that the authority was abiding by the ban.

“We have no POGO operation inside the zone. We do not sanction such activities. We do not coddle any illegal operations that have any semblance of POGO operations inside our zone,” Enrile told the publication.

Executive Order 74, issued by the Philippine president in November, bans both POGOs and Internet Gaming Licensees (IGLs) – the new definition given to offshore gaming operations.

All POGO operations were ordered to cease by January 1st of 2025, with authorities adopting a strict approach towards the post-shutdown cleanup.

The DILG has indicated that it will enforce a “zero tolerance” policy towards government officials regarding the closure of POGOs.

“The government’s anti-POGO campaign is an ongoing thing, (it’s) forever. We will continue to be vigilant about it,” indicated the DILG Secretary.

Macau GGR to grow 8% in 2025, backed by increasing travel spending: Goldman Sachs

Viviana Chan
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Macau GGR to grow 8% in 2025, backed by increasing travel spending: Goldman Sachs

Goldman Sachs projects an 8 percent year-on-year growth in Macau’s gross gaming revenue (GGR) for 2025, driven by continued strong travel spending from Chinese tourists.

Analysts also referenced another projection from the same institution, which anticipates that travel spending will outpace broader consumption trends in China, with a forecast of 7 percent growth for 2025.

Macau’s casino GGR in 2024 reached MOP226.78 billion ($28.39 billion), marking a 23.9 percent increase compared to the previous year. However, this still lags behind 2019 GGR, which totaled MOP292.45 billion ($36.7 billion).

Macau December GGR hits $2.28 billion, with FY24 at $28.39 billion

The investment bank further predicts a 9 percent increase in mass GGR, while VIP revenue is expected to rise by 4 percent. With reduced cost pressures from inflation and competition, Goldman Sachs expects a significant portion of the revenue growth to translate into EBITDA, which is projected to increase by 11 percent year-on-year.

Analysts Simon Cheung, Alpha Wang, Leah Pan, and Dorothy Wong also reported that Macau’s GGR for 4Q24 reached MOP57.4 billion ($7.2 billion), marking a 3 percent quarter-on-quarter increase.

A detailed breakdown of visitation data for November (the most recent available) reveals that the 10 percent year-on-year growth in tourist numbers was mainly driven by day-trippers, who increased by 14 percent compared to a 5 percent rise in overnight visitors. 

Additionally, there are signs that more tourists from wealthier regions, such as Beijing (+58 percent), Shanghai (+35 percent), and Zhejiang (+25 percent), are returning to Macau, nearing pre-pandemic levels.

macau

Macau casino stocks end FY24 down by 12%

Macau casino stocks finished FY24 down an average of 12 percent, largely due to concerns over intensified competition, particularly in the high-end premium mass segment, and the ongoing crackdown on illegal money exchangers.

Despite these challenges, the gaming sector in Macau remains one of the most attractive within the broader China travel and transportation coverage universe. Goldman Sachs, in this context, has selected Sands China as a top pick, anticipating that its GGR market share will improve in the coming months with the gradual completion of the Londoner renovation and the resumption of dividends in mid-FY25. However, it is worth noting that Sands China’s GGR share remained subdued in 4Q24.

Galaxy Entertainment, meanwhile, appears particularly appealing in terms of its current valuation. Goldman Sachs believes Galaxy is trading at an attractive level given its performance. While the bank cautions that Galaxy could become a key share donor to Sands China, Goldman Sachs’ research team believes this may not materialize. Thanks to Galaxy’s strong marketing strategies and product innovations, the company is expected to improve its competitiveness in the high-end gaming segment significantly.

Raffles hotel, Galaxy Macau
SJM, Macau, Grand Lisboa Hotel, SJM Holdings, SJM resorts

Looking ahead, Goldman Sachs notes that investors are likely to focus on two key developments in the coming months: (1) news regarding Hengqin’s future development to support Macau’s non-gaming diversification, especially in light of SJM’s recent announcement of acquiring office floors from its parent company, Shun Tak, with plans to convert them into a 180-room hotel; and (2) updates on Thailand’s integrated resort (IR) legalization, as both Galaxy and MGM China have expressed interest in bidding.

Philippines: “intensified manhunt” for over 11K remaining foreign POGO workers, warnings issued

Kelsey Wilhelm
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Philippines: “intensified manhunt” for over 11K remaining foreign POGO workers, warnings issued

The Philippines’ Bureau of Immigration says that it is still searching for some 11,000 former foreign Philippine Offshore Gaming Operator employees, saying it is now conducting an “intensified manhunt”.

According to Commissioner Joel Anthony Viado, there are still some 11,254 foreign POGO workers that need to be deported, of the original 33,863 POGO employees registered under the Philippine Amusement and Gaming Corporation (PAGCOR).

The commissioner indicated that those who had not left the country before the December 31st deadline “are considered illegal aliens […foreign nationals who continue to disobey this will be arrested, deported, and blacklisted. No exceptions”.

Foreign POGO workers had been given the option to leave the country before the deadline or downgrade their visas, with some 22,609 foreign POGO workers leaving the country before the December 31st deadline.

Amongst the total number of registered POGO employees, some 24,779 had downgraded their visas.

The BI head also indicated that companies must surrender any POGO workers who remain in the country and could face charges for harboring illegal aliens if they refuse to do so.

PAOCC warning

On Thursday, the Presidential Anti-Organized Crime Commission (PAOCC) also warned business owners that they could lose their properties if they allow them to be used by illegal POGO operators.

PAOCC Executive Director Gilbert Cruz told media that criminal forfeiture cases could be opened against owners for allowing them to be used for illegal activities.

Illegal POGO groups have switched to smaller-scale operations, attempting to hide them in walled compounds or even at resorts, as authorities increase their crackdown.

They have also attempted to disguise the prevalence of foreign members by operating in business areas with more foreign footfall and by attempting to operate more during the day than at night.

The Department of the Interior and Local Government (DILG) has also directed local government units (LGUs) to submit “No POGO” certificates in their localities by the end of January.

LGUs can conduct inspections on commercial and residential buildings, including occupancy permits, electric and fire permits, with a DILG official indicating LUGs have “full capacity to enter all the buildings”.

Birth certificate focus

Another avenue to go after those involved in POGOs is to track down fraudulent birth certificates which had been issued to foreigners, allowing them to obtain Filipino citizenship. This then enabled them to purchase properties and set up businesses in the country.

Authorities say they’re now aiming to track down the fraudulent birth certificates and cancel them “so that these criminals will no longer have a basis to stay in the country,” indicated Senator Sherwin Gatchalian.

The Office of the Solicitor General (OSG) has stated that it would be cancel all fraudulent birth certificates of foreigners in the country after the nation-wide POGO ban. The OSG also indicated it would work to seize properties and other assets illegally acquired by foreigners.

Philippines fails to archive tourist target, with 5.4M visitors in 2024

Viviana Chan
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Philippines fails to archive tourist target, with 5.4M visitors in 2024

According to data from the Department of Tourism (DOT), the Philippines welcomed just over 5.4 million international visitors between January and December 2024, falling short of its target of 7.7 million international arrivals for the year.

This figure represents an 8.7 percent increase compared to 2023, when the Philippines recorded 5 million international visitors.

In December alone, the country received 520,549 international visitors.

South Korea remained the top source of inbound tourists, with 1,569,071 visitors recorded in 2024—a rise of 8.2 percent compared to the previous year. South Korean visitors accounted for approximately 26.4 percent of the total international arrivals, significantly outpacing other markets.

The United States retained its second-place ranking, with 947,891 visitors in 2024, marking a modest growth of 4.9 percent.

Japan ranked third, with 388,316 arrivals during the twelve-month period, showing a substantial surge of 27 percent. This makes Japan the tourist feeder market with the largest growth among the top 10 source markets.

China followed closely, with 312,222 visitors traveling to the Philippines in 2024.

Suntrust appoints new CFO after executive resigns

Nelson Moura
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Suntrust appoints new CFO after executive resigns

Suntrust Resort Holdings has announced the appointment of Yip Ho Chi as its new Chief Financial Officer, in a decision announced following a Board of Directors meeting on January 2nd, 2025.

In a dispatch submitted to the Philippine Stock Exchange, the group revealed that Yip will assume the role for the remainder of Sutharshan Kandiah’s term and until a successor is elected.

The company indicated that Kandiah has officially resigned from his position as Chief Financial Officer and has relinquished all related duties and responsibilities.

Yip, a 55-year-old Chinese citizen from Hong Kong, served as CFO for various publicly listed companies on The Stock Exchange of Hong Kong Limited. His previous roles include CFO at Summit Ascent Holdings Limited since 2013, Melcolot Limited (now Crypto Flow Technology Limited) from 2009 to 2013, and Sandmartin International Holdings Limited from 2000 to 2009.

In addition to his CFO experience, Yip has eight years of audit experience with Deloitte Touche Tohmatsu, one of the Big Four accounting firms, from 1992 to 2000.

He also has expertise in initial public offerings (IPOs) and is a Fellow of The Hong Kong Institute of Certified Public Accountants and The Association of Chartered Certified Accountants. Mr. Yip holds a Bachelor’s Degree in Business Administration with a focus on Accounting and Finance from The University of Hong Kong, graduating in 1992.

Suntrust’s sole activity is the development of the $1.1 billion Westside City project, a five-star hotel and casino being operated under a lease agreement with a subsidiary of Newport World Resorts operator Travellers International Hotel Group (under the Alliance Global Group – AGI).

Westside City had previously been expected to open in the first quarter of 2025, shifting back from 4Q24. The most recent Suntrust Resort results indicate that the 1Q25 commencement of operations at Westside City is on track.

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