In a recent announcement, President Ferdinand Marcos Jr. declared a ban on Philippine Offshore Gaming Operations (POGOs) due to criminal activities associated with the industry. The ban is set to take effect by the end of the year, marking the end of a controversial chapter that began in 2016 under former president Rodrigo Duterte.
Following the POGO ban news, LET Group Holdings and Summit Ascent Holdings are contemplating the sale of the Tigre de Cristal casino resort in Russia. The potential sale comes amidst concerns about uncertainties and risks associated with holding onto the property, including the impact of sanctions related to Russia’s conflict with Ukraine.
Crown Resorts also made significant leadership appointments, with changes in key roles within the company. The new appointments aim to steer the company through operational challenges, particularly with reduced VIP travel from China.
Macau is gearing up to promote tourism through global media outlets and social platforms to attract international visitors. The promotional efforts are expected to launch in August, targeting travelers from Northeast and Southeast Asia, as well as Europe.
In Cambodia, Prime Minister Hun Manet has imposed a ban on new casinos in Kep and Kampot provinces to maintain security and improve the business environment. The move comes as Cambodia’s gaming industry continues to thrive, with NagaWorld in Phnom Penh leading the market.
Meanwhile, Macau authorities have indicted 59 individuals involved in an illegal online sports betting ring, seizing millions in cash and freezing bank accounts. The crackdown underscores the strict regulations in Macau against online gambling, which is illegal in China.
On a positive note, a report from Hong Leong Investment Bank (HLIB) suggests that the gaming sectors in Singapore and Malaysia are poised for a strong second half of the year thanks to higher visitor volumes. Both countries are expecting an increase in international visitors, signaling a promising recovery for the gaming industry in the region.
Overall, the developments in the Asian gambling industry reflect a mix of regulatory changes, market dynamics, and efforts to attract visitors in a post-pandemic landscape. As the industry navigates through challenges and opportunities, stakeholders are adapting to ensure sustainable growth and compliance with evolving regulations.
