Good morning. Few dispute that India has the potential to be one of the world’s gaming super powers, though at present it’s the lawyers that seem to have the winning hand. With no national gaming framework, the skill-based gaming industry has to fight its corner through High Court battles, with a key hearing set in Karnataka this week. Today’s Deep Dive takes a look at some of the latest legal developments.
What you need to know
- Macau Chief Executive Ho Iat Seng has held out the possibility that the government may extend the current gaming concessions if an update of the gaming law is not completed on time.
- Macau’s Chief Executive Ho Iat Seng said that the government is in continuing negotiations with Mainland China on group visas and e-visas, but that a broader border opening is not imminent.
- Resorts World Manila saw its gross gambling revenue rise 46 percent in 3Q21 from the prior quarter, despite the lockdowns in the Philippines.
- IGT is expecting to see mid-single-digit CAGR for revenue from 2022-2025 through its growth, innovation and optimization strategies.
On the radar
- ACMA says it has blocked a total of 55 online casinos since Nov 2019.
- Cambodia has blocked 79 illegal online gambling sites.
- Singapore will extend its travel bubble to India, Indonesia, Qatar, Saudi Arabia and UAE.
What the papers say
- Return on investment period for Macau operators lengthening significantly.
- UOB Kay Hian predicts strong 4Q21 recovery for Genting Malaysia on pent-up demand.
In the absence of a national framework, India’s legal system is continuing to arbitrate challenges to the legality of the online gambling sector, with a key case set to come back before the Karnataka High Court this week. Karnataka announced amendments to its laws in September that banned all forms of gambling for stakes, even if they are games of skill. The law is being challenged by at least 10 different petitioners, including the All India Gaming Federation (AIGF) and major Indian gaming companies, such as Mobile Premier League and Junglee Games.
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