Good morning. Widespread regulation of Asia’s online gambling industry by governments keen to raise revenue after Covid hasn’t yet happened, but the issue has not gone away. Malaysia has renewed its rumblings about legislation and licenses, while the Laos government is also reportedly keen to follow the same route.
What you need to know
- Macau’s highest court has upheld a ruling that found Wynn Macau jointly liable with junket operator Dore Entertainment for the repayment of a HK$6 million debt to a VIP player.
- The Victorian government has named former health department secretary Fran Thorn as chair of the new casino regulatory body as the state seeks to shore up oversight of the industry.
- Tourism is likely to rebound faster than business travel in the Asia Pacific region in 2022, with the operating environment for airports likely to improve, Fitch Ratings said.
On the radar
- Marina Bay Sands has seen an increase in bookings from VTL travellers.
- India considers nation-wide cryptocurrency ban a-la China.
- IGamiX appoints Daniel Li to run new Cambodia unit.
- Success Dragon swings back to profit in six months to end-Sept.
What the papers say
- Saipan court greenlights release of more than $5m to Pacific Rim.
- Malaysia court dismisses businessman’s bid for release from jail in online gambling case.
AGB Intelligence
DEEP DIVE
Malaysia/Laos eye online gambling legislation as Covid bites
Malaysia and Laos are considering regulating online gambling to raise tax revenue to aid the recovery of their Covid-ravaged economies. Speaking in parliament last week, Malaysia’s Deputy Communications and Multimedia Minister Datuk Zahidi Zainul Abidin said the ministry has proposed the drafting of new laws to allow them to tax, regulate and license online gambling. Meanwhile, Laos has already issued three online gambling licenses, according to Danny Too, general manager of Cherry Interactive, who has spoken with officials of both governments.
Industry Updates
- UltraPlay returns to live exhibitions after 18-month break at SiGMA Malta.
- Sands China donates $37,400 to support Caritas Macau events.
- Big Betty to make its debut at ICE London 2022.
- Scientific Games chief accountant steps down from full-time position.
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