Good Morning. Video gamers in China have gotten under the authorities’ skin, avoiding strict anti-gambling laws by trading physical modifications of characters, known as ‘skins’. A recent study shows just how the large the market has grown, despite government crackdowns. In Singapore, Las Vegas Sands has reduced the size of its fourth hotel tower, to 587 rooms, but has received approval for construction. And in the Philippines, authorities are aiming to reduce the tax rate on winnings – on both casino and lotto winnings.
What you need to know
- Despite being under strict online gambling restrictions, Chinese videogame ‘skin gambling’ websites operated a very lucrative business for years.
- Marina Bay Sands has received official approval from authorities to build a fourth tower, but the room count has been drastically reduced.
- PAGCOR and the Philippines Charity Sweepstakes Office are pushing for a tax reduction on casino and lotto winnings.
On the radar
- Seven new hotels, comprising 3k hotel rooms, under construction in Macau.
- Visa-free between Thailand and China causes a boom in travel searches.
- Minister calls to postpone the 2025 Osaka Expo due to the earthquake.
- Aruze Gaming Global opens new Macau office.
- Singapore Tourism Board, UOB, MBS, launch over 50 Marina Bay Experiences.
- INSPIRE expected to announce casino opening date on Wednesday.
AGB Intelligence
CHINA
Chinese ‘skin gambling’ operated lucratively for years
Chinese video game websites were able to find a way around the country’s strict gambling prevention laws through ‘skin gambling’ – with players buying and trading characters’ appearances for large sums of money. According to a recent report, given that transactions were largely cashless, they were difficult to detect and prevent by Chinese authorities, leaving a question mark on the actual total value of the underground industry.
Taxation decrease, oversight increase
The Philippines’ ongoing move to drop taxation rates, in particular for online, are a good thing, says Jade Entertainment CEO Joe Pisano, as authorities crack down on facilitators of bad actors.
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Registrations for the 2024 ASEAN Gaming Summit, the calendar conference of excellence of the gaming industry in the region, are officially open. Scheduled from 19th to 21st March 2024, the Summit is the gateway to the Next-Gen of gaming in Asia.
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