Good Morning. India’s gaming industry, particularly in Goa, is facing parallels with Macau’s early days, with rampant possibilities, albeit tempered by regulatory challenges and a steep tax framework, notes a top consultant. Meanwhile, MGM Resorts is taking the Federal Trade Commission to court over actions taken in the wake of the September cyber-attack which disrupted its IT systems for days and cost it millions. In Macau, Bank of America is estimating that Melco Resorts will resume its dividend payments as early as next year, ahead of previous expectations.
What you need to know
- India’s gaming landscape is evolving, with strong potential, but regulatory hurdles and taxation framework are hindering growth: Consultant.
- MGM Resorts International is suing the US Federal Trade Commission over its investigation into the cyber-attack last September.
- Bank of America forecasts Melco will resume dividend payments from FY25 onwards, ahead of the previous FY26 expectation.
On the radar
- Public hearings in Bell Two Inquiry have commenced: The Star.
- Belle Corp revenue reaches $98.6M in 2023, boosted by gaming units.
- Macau premium mass resilient, Sands regains pole position: Citigroup.
- BlueBet faces fines for illegal gambling advertisements.
- Macau GDP could rise by 19 percent in 1Q24: Economic Association.
- Macau Legend pushes back timing for Laos casino sale.
AGB Intelligence
INDIA
Strong gaming potential but regulations/tax hindering growth: Consultant
A top gaming consultant says that a recent trip to India highlighted the growth potential of the nation’s gaming industry, with parallels to the early days of Macau‘s liberalized gaming environment. However, regulatory hindrances and a high taxation framework are slowing the potential growth of the industry – issues that can hopefully be cleared up following the upcoming elections.
PAGCOR encouraging profit and tax revenue
The COO of Newport World Resorts, Hakan Dagtas, has praised PAGCOR’s moves to further regulate the industry, in particular the online segment, offering a more positive investment environment that allows profitability and, ultimately, more government tax revenue. The adjustments in tax rates are also pushing operators out of the illegal space and into a regulated business, all positive for future growth.
Corporate Spotlight
Sumsub takes the lead in gaming fraud protection
Sumsub, a full-cycle verification platform, proudly sponsored the ASEAN Gaming Summit 2024. Their sponsorship reaffirmed their commitment to helping gaming companies combat fraud amidst the escalating threat of illicit activities in the region. Sumsub took centre stage with an insightful panel discussion on How can PAGCOR use AI for Responsible Gaming/AML compliance.
A complete guide to the 1xBet affiliate program
1xBet, a leading global betting company, introduced its affiliate program in 2016, quickly becoming renowned within the industry and earning recognition at the SBC Awards.
Industry Updates
- Relax Gaming appoints Martin Stålros as CEO.
- Playson celebrates further Portuguese growth in partnership with Lebull.pt.
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