Good Morning. India’s online gaming space is facing more of a tornado effect than a butterfly effect, after the ban on real money game play online has the sector reeling. An expert warns that the shutdown could be accompanied by other detrimental outcomes, although some areas – like e-sports – can still benefit. Meanwhile, in Cambodia, Naga Corp saw strong results in the first half of the year, with profits improving significantly. Looking to the Philippines, mass market growth is helping to offset a dip in VIP revenue, as tourism remains a primary driver for GGR.
What you need to know
- With India outlawing real money games, an expert warns of sector shutdown, GST relief rollback, and capital flight from gaming firms.
- NagaCorp, the operator of Phnom Penh’s NagaWorld casino resort, posted a sharp jump in its profits for the first half of the year.
- Philippine casino sector’s rebound hinges on tourism inflows, with mass-market growth offsetting VIP slowdown, says brokerage.
On the radar
- AUSTRAC: Binance must appoint external auditor; AML/CTF concerns.
- Macau gaming tax reaches $6.64B in Jan-July period, up by 3.4% yearly.
- India investigating Sri Lanka, Nepal casino links after arrest of politician.
- Indian government requests extra week in $30 billion GST gaming case.
- Macau casino revenue hits four-year high in non-Golden Week period.
- Prominent Kiwi NRL player charged for inside betting information.
AGB Intelligence
INDIA
RMG ban causing massive ripple effect: Expert
The move by the Indian government to ban real money gaming on online platforms is having a massive ripple effect, with fears of an industry shutdown. A top expert notes that while some effects are immediate, other effects – such as a rollback on GST relief and a gradual migration of punters to the black market – are likely upcoming. Despite the ban, the e-sports sector is set to benefit, continuing its growing popularity in the nation.
Corporate Spotlight
Why Asia’s iGaming operators must rethink risk strategy | SEON
Winning Trust, Stopping Fraud. Asia Pacific’s iGaming market is expanding extremely fast, and a new wave of digital-savvy players is pushing demand through the roof. But the rise in adoption has outpaced regulation in many markets, and fraudsters have taken notice.
Industry Updates
- BC.GAME launches “Nezha” Slot with up to 46,656 ways to win.
- Playson pens deal with Salsa Technology to fuel Brazilian expansion.
- MGM Golden Lion Summer Camp debuts in Hengqin.
INTELLIGENCE | ASEAN | CAREERS
