Former judge Sam Hou Fai has been elected as the Chief Executive of Macau, securing an overwhelming 394 out of 398 votes cast in the election held on Sunday.
In a press conference following his election, Sam acknowledged the substantial support Macau receives from Mainland China.
He stated, “Whenever Macau faces difficulties, the country is always there to lend a helping hand.” He cited various challenges, including the financial crisis, SARS outbreak, and COVID-19 pandemic, all of which were met with significant backing from the central government.”
He also noted that during the recent October Golden Week, Macau welcomed approximately 900,000 visitors, with 83 percent being from the mainland, greatly contributing to the local economy and aiding in post-pandemic recovery.
Macau October Golden Week visitor arrivals stats from the CPSP as of 07/10/2024
Looking ahead, Sam emphasized the need for Macau to leverage its unique advantages as a Special Administrative Region to contribute to national development while pursuing its own progress.
He highlighted the importance of actively participating in the development of the Guangdong-Hong Kong-Macau Greater Bay Area and collaborating with national ministries and Guangdong Province to enhance the Hengqin Deep Cooperation Zone.
His vision aims to elevate Macau’s status as an international metropolis, enhancing its economic development and global standing.
During his campaign, Sam engaged with representatives from Macau’s six gaming operators, advocating for a sustained industry growth model that prioritizes “healthy, orderly, and sustainable development.”
Macau has officially criminalized illicit money exchange practices, including those commonly known as “money exchange gangs”, which could result in a prison sentence of up to five years for individuals operating unapproved currency exchange businesses for gambling purposes.
Chan Chak Mo, Macau lawmaker
On Thursday, the Second Standing Committee of the Macau Legislative Council terminated the discussion of the draft of the “Law to Combat Gambling Crime.”
The committee’s chairman, Chan Chak Mo, announced that the bill will be submitted for detailed discussion and voting as soon as the Legislative Council reconvenes on the 16th of this month. The proposed law is set to take effect the day after its announcement.
Chan emphasized that the legislation clearly prohibits operating currency exchange businesses for gambling purposes in casinos and their affiliated facilities without legal authorization. If law enforcement detects currency exchanges occurring within casinos, any illegal operators seeking to defend themselves will need to provide evidence that their exchanges are not intended for gambling.
In cases where illegal exchanges occur outside of casinos, such as on the streets or in shops, law enforcement can take action if they have sufficient evidence, including testimonies from those involved in the illegal exchanges. If the testimonies come from tourists, arrangements can be made for them to submit statements for future reference in criminal court, thus allowing them to avoid appearing in court during the trial.
Charges can still be brought under the offense of “illegal currency exchange.”
When questioned about informal money exchanges among friends for gambling purposes, Chan clarified that such occasional exchanges do not constitute the operation of a currency exchange business and will not be classified as a crime.
As reported last month, the brokerage CLSA has revised its forecast for Macau’s gross gaming revenue (GGR) in 2024, reflecting a 2 percent decrease.
This adjustment is due to the anticipated impacts of the ongoing crackdown on money exchange in the latter half of 2024 and a more subdued recovery driven by VIP gaming expected in 2025 and beyond.
The updated projection estimates that Macau’s GGR will grow by 24.6 percent year-on-year to MOP 228.2 billion ($28.3 billion) in 2024, down from earlier forecasts.
Undercover investigations
Chan also informed the media that the bill aims to tackle various illegal gambling activities, including illicit lucky betting, mutual betting, online gambling, illegal lotteries, unlicensed lending, coercion to gamble, and fraudulent gambling, all of which carry criminal penalties.
Illegal gambling activities often employ sophisticated anti-investigation measures and concealment tactics. The bill proposes the introduction of “undercover investigations,” which would permit night searches of residences for specific crimes from 9 pm to 7 am.
The September gaming results in the Australian state of Queensland showed an increase of 7.7 percent compared to the previous year. However, there was a marginal decline of 10 percent from the record figures of August 2024, according to data from Wohlsen Consulting.
The report notes that September gaming results for clubs and pubs ended a streak of strong demand growth in Queensland.
Clubs experienced a more significant decline than pubs, with a 10.2 percent drop in September compared to August.
September trading is traditionally lower than the preceding August, with 30 days of trade contributing to approximately 3.3 percent of the overall decline. The average September drop from August since 2018 is 6.3 percent, making this month’s 10 percent decline greater than the expected average fall.
The new Queens Wharf Casino Resort has clearly impacted the Brisbane downtown numbers, which were down by 15.2 percent from last month. Other parts of Brisbane performed well and were less affected.
Market share for clubs and pubs remained constant in September.
Konami Gaming President & Chief Executive Officer Steve Sutherland was honored with the Excellence in Commercial Gaming Professionalism recognition at the Association of Gaming Equipment Manufacturers’ (AGEM) 2024 Jens Halle Memorial Award during the official awards ceremony at the Global Gaming Expo (G2E) Las Vegas.
Konami Gaming CEO Steve Sutherland speaking at the AGEM’s Jens Halle Memorial Award ceremony
Steve Sutherland was selected for his embodiment of business success, attention to detail, evident humanity, willingness to ‘go the extra mile, and long-lasting dedication to the health of the industry as a whole. Investing more than three decades of his career in the gaming supplier sector, Steve Sutherland is a central figure and longtime advocate in responsible gaming industry advancement.
“Throughout his entire career, Steve has been someone with an executive mindset who knows how to lead, manage, and operate a business at an extremely high level,” said Bob Parente, chair of the board at AGEM.
Steve Sutherland (on the right) honored with the Jens Halle Memorial Award for “Excellence in Commercial Gaming Professionalism” and Lori Nelson-Kraft (on the left) recognized with the Peter Mead Memorial Award for “Excellence in Gaming Media & Communications”.
“He brought his knowledge from the technology industry into the gaming supplier sector and made a lasting impact on the companies he has led, all while helping mentor countless other commercial executives who now are themselves leaders of gaming supplier companies with global reach. He’s the real deal when it comes to our industry and epitomizes excellence in commercial gaming professionalism. Our supplier sector salutes Steve for all he continues to accomplish and happily presents this year’s Jens Halle award to him,” added Bob.
Steve Sutherland’s Jens Halle Memorial Award for “Excellence in Commercial Gaming Professionalism”
The Jens Halle Memorial Award was established in 2015 by AGEM to acknowledge the lasting impact of longtime industry executive Jens Halle, following his unexpected passing. Steve Sutherland is the ninth honoree to receive this award since its inception. This recognition comes as Sutherland nears his 25th year at Konami Gaming, including seven years as president and chief executive officer.
“The dedication, acumen, and conscientiousness that Steve Sutherland brings to his role as head of Konami Gaming is a consistent positive force. It strengthens industry partnerships and relationships reaching across the globe, as well as within our organization,” said Tom Jingoli, executive vice president and chief operating officer at Konami Gaming, Inc. “Speaking on behalf of countless individuals inspired by Steve’s enduring leadership, it is a great joy to recognize his prominent influence, success, and service, as AGEM’s 2024 Jens Halle Memorial Award recipient.”
Macau gaming operator SJM Resorts has announced that the Kam Pek Market is set to open between mid-December 2024 and the Chinese New Year in 2025.
The project is part of SJM’s efforts to expand its non-gaming segment, enhancing Macau’s appeal beyond the gaming industry. The initiative is also part of the company’s revitalization plan for Macau’s old districts, which includes the redevelopment of Avenida de Almeida Ribeiro and the Inner Harbour areas, creating new cultural landmarks. This also involves revitalizing the “Macau Palace” (Floating Boat).
The first phase of the tender process for food stalls has concluded, with ten local Small and Medium-sized Enterprises (SMEs) selected. These include both new startups and established vendors offering a variety of cuisines, including Chinese, Portuguese, Japanese, and Korean.
The Kam Pek Market aims to serve both locals and tourists, promoting Macau’s diverse culinary culture.
The selection committee was composed by: Ms. Daisy Ho, Managing Director of SJM (center); Mr. Ma Chi Ngai, President of Macao Chamber of Commerce (left); and Mr. Chan Ka Leong, President of the Board of Directors of the General Union of Neighbourhood Associations of Macau (right).
According to the press release, SJM received 67 proposals before the deadline. Daisy Ho, Managing Director of SJM, commented on the strong interest shown and praised the potential of the selected vendors. She highlighted that the market aims to blend tourism, dining, and local culture, and is expected to increase foot traffic in the area, bringing both economic and social benefits.
SJM also noted that it will support the chosen merchants by providing operational infrastructure, logistical assistance, and promotional activities, in line with its strategy of “big enterprises leading small ones.”
Good morning. On track for a cash flow crescendo! Wynn Al Marjan Island is set to enhance Wynn Resorts’ global cash flow by 2027, according to Deutsche Bank, with a projected GGR of up to $1.66 billion and significant margin improvements from lower UAE gaming tax rates. Meanwhile, despite economic challenges in China, the online travel agency platform Trip.com reported record travel orders, reaching an all-time high during October’s Golden Week and surpassing 2019 figures. Top outbound destinations included Japan, Thailand, and Malaysia, indicating resilient travel demand.
What you need to know
Wynn Resorts expects Wynn Al Marjan Island to enhance its cash flow balance amid favorable conditions in the UAE gaming market.
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.
For global betting company 1xBet, Asia is a key market for several reasons. This is why 1xBet pays special attention to the Asian market and actively promotes its sports betting platform and the most popular gambling games on the continent.
The Philippines’ newly appointed Interior Secretary, Jonvic Remulla, has committed to ensuring the complete shutdown of all Philippine Offshore Gaming Operators (POGOs) by year-end.
Following the directive from President Ferdinand Marcos Jr. Remulla plans to start by closing POGOs operating at Island Cove in Cavite, a property his family once owned, to demonstrate his commitment to the order.
“That will be the first one to be closed to show proof of sincerity that I will start with my province and make sure that it’s closed,” Remulla said during an interview on Tuesday, October 9th. He stressed that it doesn’t matter whether the operators are Chinese or Filipino, as the presidential order states that all POGOs must cease operations.
Remulla confirmed that a final inspection of all remaining POGOs will take place on December 15th, and these establishments must completely close by December 31st.
In a separate interview on Wednesday, he mentioned that he had already spoken with POGO operators at Island Cove, who agreed to halt their operations by December 15th.
Cavite, Philippines
The crackdown on POGOs stems from President Marcos’ State of the Nation Address in July, where he declared a complete ban on the industry due to its links with various illegal activities, including human trafficking and scams.
The Department of Interior and Local Government (DILG), along with other agencies such as the Presidential Anti-Organized Crime Commission (PAOCC), has been tasked with implementing the shutdown of POGOs across the country.
This transition in leadership at the DILG came after former Interior Secretary Benjamin Abalos resigned on October 7th to file his certificate of candidacy for a Senate seat. As a result, Remulla was appointed as his successor, stepping down from his candidacy for re-election as Cavite governor.
“I actually filed my candidacy on Tuesday at 10 am, but I got a call on Friday informing me that the president had asked me to be the new Secretary of Interior. When the president asks, you cannot refuse; you must serve. And I’ve been thinking about what reforms need to be done,” Remulla shared, explaining how he accepted the position.
Pansy Ho and Linda Chen, two influential women in Macau’s gaming industry have been named in Fortune’s 2024 “Most Powerful Women in Asia” list.
Pansy Ho, chairperson and executive director of MGM China (pictured above), ranked 13th, while Linda Chen, president and vice chairman of Wynn Macau, secured the 70th spot. Ho also appeared on Fortune’s global list, ranking 80th.
Linda Chen, Vice Chairman Wynn Macau
The list honors female leaders who are redefining leadership through innovation and growth across various industries. Both Ho and Chen are central figures in Macau’s gaming and hospitality landscape, showcasing the region’s global influence in these sectors.
The 2024 list featured 100 business leaders, led by Grace Wang of China, Helen Wong from Singapore, and Makiko Ono from Japan. Women in diverse sectors, from finance to food and hospitality, were recognized for their exceptional contributions.
Pansy Ho, daughter of late gaming magnate Stanley Ho, not only heads MGM China but also holds significant roles in international tourism bodies. Meanwhile, Linda Chen oversees Wynn Resorts‘ operations in Asia, solidifying her impact on the global gaming industry.
Kangwon Land, the South Korean operator of a casino and resort complex in Gangwon Province, announced plans earlier this year to evolve into a global integrated resort (IR), focusing on enhancing its non-gaming facilities.
The company seeks to raise non-casino revenue from 13 percent to 30 percent by 2032. With a strong commitment to improving the resort, set amidst highlands and natural surroundings, Kangwon Land aspires to be recognized as Korea’s Las Vegas.
As the only casino in the country where locals can gamble, Kangwon Land is also attracting foreign visitors.
According to local media outlet The Korea Times, which cites the company, the number of foreign tourists at Kangwon Land’s High1 Resort surged to 25,000 in the first half of this year, marking a remarkable 476 percent increase compared to the previous year. The company anticipates further growth in visitor numbers through ongoing initiatives.
Kangwon Land has initiated a long-term investment project named “K-HIT,” which stands for “Korean High1 Integrated Tourism.” This project involves a significant investment of KRW2.5 trillion ($1.85 billion) to expand the casino floor space by over 30 percent and diversify its offerings. This approach aims to attract a broader audience by investing in non-casino sectors.
The interim CEO of Kangwon Land, Choi Cheol-kyoo, who is leading the resort’s transformation, emphasized the urgency driving this initiative. During the COVID-19 pandemic, the illegal gambling sector thrived while the legal market diminished. With the easing of travel restrictions, many people began participating in casino activities abroad, heightening the sense of urgency to modernize and compete globally.
Choi Cheol-kyoo noted that in Asia, countries such as Macau and Singapore have embraced this integrated resort model, while Japan is preparing to enter the market with plans for a large-scale casino resort in Osaka.
Recently, the Ministry of Culture, Sports and Tourism eased regulations on casino operations, allowing for an expansion of the casino floor and increasing betting limits for overseas visitors from KRW300,000 ($223) to KRW300 million ($220,000). This change is expected to enhance foreign tourism.
OpenBet, a leading global provider of betting content, platforms, and services, has been selected by Bell Ventures Digital Ltd in Brazil to power its online betting and gaming brand. This partnership signifies OpenBet’s inaugural venture into launching a betting and gaming brand in Brazil.
In addition to providing the platform’s core technology, the Company enters the market with the BandBet brand, licensed from Grupo Bandeirantes de Comunicação (“Band”).
This landmark agreement, which has the financial advice of the Investment Banking team at BTG Pactual, the largest investment bank in Latin America, brings together two major entertainment forces to introduce BandBet, a new and innovative offering for Brazil’s regulated betting and gaming market.
Leveraging the licensed BandBet brand reputation linked to Band, one of the biggest TV networks in Brazil, and OpenBet’s unparalleled expertise in betting technology and regulatory compliance, this collaboration is poised to deliver a superior betting and gaming experience for players in the region. As part of the agreement, OpenBet will supply its complete end-to-end sports betting and iGaming ecosystem inclusive of player account management, providing BandBet with the technology, content, and compliance infrastructure required to succeed in Brazil’s newly regulated market.
Claudio Giordani, CEO of Band TV Network
Claudio Giordani, CEO of Band, said: “For decades, Band has been synonymous with high-quality entertainment in Brazil, and our sports coverage has been a key driver of our success. We are excited that Bell Ventures decided to enter the market with a brand licensed from our media group, as Band consistently contributes to international and local companies entering Brazil’s economy.”
In addition to sports betting, OpenBet is also empowering BandBet to deliver a comprehensive iGaming experience to players. This includes a seamlessly integrated online casino, featuring a cutting-edge user interface, access to a wide variety of content from leading gaming studios, and a unified platform for managing promotions across both sports and iGaming verticals.
At the heart of the ecosystem is OpenBet’s Player Account Management platform, enabling the sports betting and iGaming verticals while supporting safe gaming practices. Central to the platform is the responsible gaming and anti-money laundering (AML) technology, powered by Neccton, ensuring BandBet upholds the highest standards of player protection. Additionally, BandBet will benefit from OpenBet Locator, an advanced geolocation solution powered by Amazon Web Services (AWS), ensuring full compliance with Brazil’s strict regulatory requirements.
Jordan Levin, CEO of OpenBet
Jordan Levin, CEO of OpenBet, said: “At OpenBet, we pride ourselves on supporting leading brands with the highest standards in the industry. By leveraging our comprehensive betting ecosystem, BandBet will offer an outstanding player experience, positioning itself as a leader in Brazil’s emerging gaming space. We look forward to supporting BandBet’s growth and furthering our mission to help operators thrive in this rapidly evolving market.”
This agreement highlights OpenBet’s role as the partner of choice for operators looking to succeed in Brazil’s regulated market. With more than 25 years of experience, OpenBet will deliver a scalable, localized, and modular product offering tailored to meet the specific needs of the region.
Ricardo Bianco Rosada, Board Member of Bell Ventures
Ricardo Bianco Rosada, Board Member of Bell Ventures, said: “Partnering with OpenBet was a natural choice. Their unrivaled expertise in the global betting industry will ensure BandBet is built on a state-of-the-art platform. Their ‘open’ system, integrating sports and iGaming, equips us with the flexibility and tools to thrive in a regulated, competitive market while ensuring responsible growth.”
Bell Ventures applied for a federal license with the Ministry of Finance in August, with the expectation that the Company will be among the entities that will be granted a license by December 31st 2024.
