Good morning. Singapore is heading towards cashless play at casinos, with new amendments to its Casino Control Act passed. While the introduction of virtual credits is allowed, crypto has been ruled out due to money laundering risks. The bill also tweaks regulatory oversight, and increases responsibility for casino operators and those associated, aiming to future-proof the industry. Meanwhile, in Macau, analysts are seeing a slight dip in GGR after the strong summer period, with mixed expectations for the October Golden Week holiday.
What you need to know
- Singapore passes amendments to Casino Control Act, paving the way for cashless but not crypto, and increasing oversight fluidity.
- UBS reports a 5 percent decline in Macau’s daily GGR following the summer peak, influenced by seasonal trends and Typhoon Yagi.
On the radar
- Las Vegas Sands increases its stake in Sands China by $100M.
- PAGCOR to further lower online GGR tax rates for IR operators to 25 percent.
- Philippines casino project costs drive International Ent. to $17.3M loss.
- Singaporean gambler ordered to pay $25.3M gambling debt to The Star.
- PAGCOR expecting delivery of 2K slot machines for Casino Filipino.
- Chinese football bans 43 for life over gambling and match-fixing scandal.
AGB Intelligence
SINGAPORE
Singapore amendments to the Casino Control Act passed
Singapore has pushed ahead with amendments to its Casino Control Act. In a Tuesday Parliament session, lawmakers moved ahead with changes intended to future-proof the industry, including paving the way for a cashless environment in casinos, despite not going so far as to allow crypto. The changes focus regulatory authority on different bodies, while increasing oversight and responsibility for casino operators.
Corporate Spotlight
Altenar brings premium sportsbook solution to Asia
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