Good Morning. Exciting news out of the UAE, which has decided to form a gaming regulatory authority, pushing forward possibilities for legalized casinos in the region. Former MGM CEO Jim Murren has been tipped to chair the new body, lending strong weight towards upcoming action. Meanwhile, in Macau, a researcher claims that the closure of the Macau Jockey Club could actually reduce the SAR’s tourist attractiveness. Other regions, meanwhile, are trying to get more of the Chinese travel pie, with Thailand and South Korea announcing measures to lure in Chinese tourists.
What you need to know
- The UAE has formed a new gaming regulatory authority, chaired by former MGM CEO Jim Murren, in the latest move towards casinos in the area.
- The Macau Jockey Club can still contribute to the SAR’s overall tourist attractiveness, and its financial woes are a critical issue for the city.
- Thailand and South Korea announce groundbreaking initiatives, including visa exemptions, tax refunds, and rewards to woo Chinese travelers.
On the radar
- Paradise and GKL see strong casino revenue gains in August.
- NMI $360mln casino fails due to overreliance on Chinese gamblers.
- Singaporean linked to 3/10 arrested was secretary for 185 companies.
- MGTO showcases Macau’s tourism strategy on the global stage.
AGB Intelligence
UAE
Gaming regulatory authority announced, chaired by Jim Murren
The UAE has announced that it has created the General Commercial Gaming Regulatory Authority (GCGRA), in what’s likely the next big push towards casino development within the region. The new authority is chaired by former MGM CEO Jim Murren, lending weight to the notion that updates are on the horizon. The move is good news for Wynn, which is banking on the casino aspect for its Al Marjan Island integrated resort.
Corporate Spotlight
1xBet was founded in 2007 and started accepting bets online in 2010. Over the years, 1xBet has become a key player in the sports betting industry and is now one of the top three most visited betting websites.
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