Good morning. The long arm of the law. Wang Shuiming, a 42-year-old Chinese fugitive wanted for a multi-billion-dollar online gambling fraud, was arrested in Montenegro after arriving from the Maldives. His operations, which reportedly laundered billions, came under scrutiny in Singapore, where authorities seized $2.3 billion in assets associated with him last year. Meanwhile, Las Vegas Sands faced softer earnings in Macau and Singapore despite ongoing investments in both markets, as ongoing renovation projects impacted its performance. In the Philippines, PAGCOR announced that its 2024 revenue soared to a record high of $1.92 billion, a near 41 percent increase from the previous year.
What you need to know
- Chinese national Wang Shuiming, a fugitive wanted across Asia for his role in a multi-billion-dollar online gambling fraud, has been arrested.
- Renovation projects impacted LVS’s Macau results in 4Q24, but the impact should disappear as projects are concluded.
- PAGCOR achieved a record $1.92B revenue in 2024, fueled by eGames, while POGOs contributed just 3% before the shutdown.

On the radar
- Macau sees record post-pandemic tourist arrivals during Chinese New Year.
- Las Vegas Sands reports a decline in profit for the fourth quarter of 2024.
- SkyCity resolves long-standing Adelaide casino duty dispute.
- Donaco International’s net revenue up 5.9% year-over-year in 4Q24.
- PAGCOR shuts down false claims of POGO reopening.
AGB Intelligence
CHINA

Fugitive linked to $2.3B online betting scheme arrested in Montenegro
Wang Shuiming, a 42-year-old Chinese fugitive wanted for a multi-billion-dollar online gambling fraud, was arrested at Tivat Airport in Montenegro after arriving from the Maldives. His capture followed an Interpol Red Notice issued by China, as authorities allege he orchestrated an illegal betting operation that defrauded users of at least $2.3 billion. Montenegro’s border police identified him during routine checks, part of a broader initiative to combat financial crime.Â
Industry Updates
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- Aristocrat Gaming debuts House of the Dragon slot game at Wynn Las Vegas.
- Stretch Network launches €1.3M prize pool Knockout Poker League 2025.
Corporate Spotlight
1xBet’s 2024 Milestones: key achievements & heights of success
In 2024, 1xBet achieved significant breakthroughs and successes, solidifying its position in the iGaming industry. The brand secured major partnership deals, received prestigious awards, and showcased its innovations at the world’s leading forums.
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