Good Morning. The Asian Racing Federation (ARF) says the lines between illegal and legal online betting operators are becoming increasingly blurred. In our second Deep Dive into the ARF’s The State of Illegal Gambling Report this week, we look at its analysis of how white-labeling is exacerbating the problem. As of 2020, the U.K. Gambling Commission had identified 700 white-label operations, many of which are being used as a front to market to players in Asia through associations with sport.
What you need to know
- China’s crackdown on frequent gamblers to Macau could wipe as much as 20 percent off total industry gross gambling revenue, Credit Suisse analysts wrote.
- PH Resorts announced its 1Q22 loss widened and said it’s in talks with creditors and potential investors to raise finance to fund its operations and complete its projects.
- Lotte Tour Development’s Jeju Dream Tower, posted a 28.4 percent increase in casino sales in Q122, though higher volumes in the mass segment were offset by lower hold.
- TRLEI has fired back against a recent “status quo ante” order from the Supreme Court, which is claimed to restore former chairman and CEO Kazuo Okada returned to the company’s helm.
- Steve Wynn, the founder and former CEO of Wynn Resorts has been sued by the U.S. Justice Department, and has been compelled to register as an agent of China for actions he allegedly took during the Trump administration.
On the radar
- Light and Wonder targets $1.4 billion EBITDA by 2025.
- China police catch man suspected of double Cotai homicide.
- Two charged for offering former Wynn Macau director bribes in aircon case.
The increasing popularity of “white-labeling” services is blurring the distinction between legal and illegal online gambling sites, particularly in Asia, and is a key concern, the Asia Racing Federation said. In a major analysis entitled “The State of Illegal Betting Report” the ARF points out that it is becoming increasingly difficult to tell the difference between legal and illegal operations, especially for members of the public.
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