Good Morning. A panel comprised of Prime Minister Narendra Modi’s top bureaucrats recommended the implementation of a regulatory body governing online gaming in a much-awaited report which will shape the future of the gaming industry in the country. Alvin Chau has no recollection of under-the-table betting.
What you need to know
- Bernstein forecasts Macau’s September GGR to be down 88 percent from the 2019 reference – or lower. China re-opening not until winter.
- Landing Group posted a 45.1 percent revenue increase on growing domestic demand, narrowing Jeju Shinhwa World’s casino loss for 2H2022.
On the radar
- Genting winning in Macau may cloud recovery: S&P Global.
AGB Intelligence
INDUSTRY VOICE
Indian government proposes online gaming regulatory body
A panel comprised of Prime Minister Narendra Modi’s top bureaucrats recommended the implementation of a regulatory body governing online gaming in a much-awaited report which will shape the future of the gaming industry in the country. The industry is expected to reach $5 billion by 2025, from $1.5 billion this year. The IT Ministry will conclude the report after receiving further comments from panel members to be sent to the cabinet secretariat for approval, yet no timeline has been fixed for finalization. Investment in India’s gaming sector saw a whopping flow of $1.7 billion in the last 17 months, with over 400 online gaming startups in India. The government must take progressive steps to regulate this sector effectively, writes industry insider Jaydeep Chakravartty.
Industry Updates
- EveryMatrix reports a strong 2Q2022 performance
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