Macau's gaming sector saw a strong recovery in October 2024, with GGR reaching MOP$20.8B (US$2.6B), marking a post-pandemic resurgence in tourism and gaming. In October 2024, Macau’s gaming sector saw remarkable growth, generating gross gaming revenues (GGR) of MOP$20.8 billion (US$2.6 billion). This significant increase highlights the region’s recovery in the Macau post-pandemic era, reinforcing its status as a leading destination for gaming and tourism. A key driver behind this record-breaking performance was the National Day Golden Week holiday, which took place at the start of the month. Data from the Gaming Inspection and Coordination Bureau (DICJ) reveals that the GGR for October not only surpassed the previous month but also exceeded the same month last year. Specifically, October’s revenue represented a 6.6% increase compared to October 2023 and was 20% higher than September’s GGR of MOP$17.3 billion (US$2.16 billion). This result is especially noteworthy as it outperformed the previous post-pandemic record of MOP$20.2 billion (US$2.52 billion), set in May. In the first ten months of 2024, the cumulative GGR reached MOP$190.1 billion (US$23.7 billion). This figure indicates a robust growth rate of 28.1% over the same period in 2023, underscoring the gaming industry’s strong recovery trajectory. The influx of visitors during the National Day Golden Week played a crucial role in this surge. Macau welcomed nearly a million visitors—993,117 to be exact—during this holiday week, marking an increase of 1.9% compared to pre-pandemic levels in 2019. Such a substantial visitor count is indicative of growing confidence in travel to Macau and the overall attractiveness of the region. Hotel occupancy rates during the Golden Week were exceptionally high. The average occupancy hovered around 94.5%, with peak days reaching an impressive 98.5% on October 3 and 4. These figures not only reflect the popularity of Macau as a travel destination but also highlight the city’s ability to attract tourists eager to participate in its vibrant gaming and entertainment offerings. Market analysts have noted that the positive trends did not stop with the holiday. The weeks following the Golden Week holiday showed sustained strength in the gaming market, leading many experts to raise their revenue forecasts for the coming months. This optimism stems from a combination of factors, including the return of international tourists and the continued popularity of Macau’s casinos.

Konami reported a 3% YoY drop in gaming & systems revenue, totaling $122M for the six months ending September 2024, due to declines in casino gaming machines. Konami Holdings Corp., the Tokyo-based gaming and entertainment conglomerate, reported a 3% year-on-year decline in its gaming and systems segment revenue for the six months ending in September 2024. The division, which focuses on casino gaming machines and casino management systems, recorded revenue of $122 million for the period. The slight dip in revenue highlights ongoing challenges faced by Konami’s gaming division, which services global casino operators and is a key segment for the company’s North American business. According to the firm’s half-year financial report, the decline comes amid heightened competition and shifting trends in the casino gaming market. In its report, Konami acknowledged that demand within the global gaming market has experienced uneven recovery patterns since the COVID-19 pandemic, especially within North America, a core market for the company. While Konami’s  gaming products have maintained a strong presence in the industry, growth has been tempered by rising operational costs and a slowdown in capital expenditure among casino operators. Despite this, Konami  emphasized that it remains committed to innovation and expanding its reach in the gaming and systems sector. The company’s gaming and systems segment provides a wide range of casino products, including slot machines and casino management systems used to streamline and enhance the casino guest experience. This sector is crucial to Konami’s broader strategy, especially in North America, where it faces major competitors like Aristocrat Leisure, IGT, and Scientific Games. Looking ahead, Konami indicated it would focus on developing new gaming products and enhancing its systems technology to capture a larger share of the market and adapt to evolving consumer preferences. The company reaffirmed its commitment to maintaining high standards in product innovation and customer satisfaction to reinforce its position within the competitive gaming industry. Konami’s casino gaming and systems division has shown a moderate revenue trend over recent years, with fluctuations based on industry dynamics and market conditions. In the fiscal year ending March 2023, the segment saw a notable increase, with revenue reaching around $257 million, up about 3% year-on-year. This growth was supported by the popularity of its DIMENSION slot cabinet series and the expansion of its Synkros casino management system, especially in North America and Australia, where investments in casino technologies remained robust. For the first half of fiscal year 2024, revenue from this segment reached $122 million, a slight decline of around 3% compared to the same period the previous year. However, Konami remains optimistic for the full fiscal year, forecasting growth in line with the continued expansion of Synkros installations and the anticipated success of new slot cabinet designs. The company is targeting a revenue of roughly $270 million for fiscal year 2024, reflecting expectations of a 20% profit increase from the previous year. Konami has focused on strengthening its market position with innovative cabinets and is actively responding to changing market demands with new game titles and upgraded technology in its offerings.

Newport World Resorts chairman Kevin Tan bared factors which caused an overhaul in the entertainment complex’s leadership. Misalignments in management styles, values, and ethical standards were significant factors that necessitated the leadership change in Newport World Resorts (NWR) , disclosed Kevin Tan. As the CEO of Philippines conglomerate Alliance Global Group and Chairman of Newport World Resorts operator Travellers International Hotel Group Inc., Tan is responsible for the overall management of Newport. “The truth is—just to put all these speculations to rest—there were definitely disagreements on management styles, mindsets, values, and misalignment on issues like integrity and basic ethical behavior,” he explained in an interview  with Inside Asian Gaming published on October 25, 2024, without elaborating on the issue. “There were misalignments and disagreements here and there, which is why it was the right time to transition to the new team.” In June, President Kingson Sian, COO Hakan Dagtas, and CFO Bernard Than, departed from NWR as AGI moved to install new leadership. Reports swirled about the departures’ link to embezzlement but NWR later on denied this. Newport at the time clarified that Mr. Sian’s retirement had been anticipated for several years. His departure was postponed due to the pandemic and a 12-month transition period following Alliance Global Group Inc.’s acquisition of Genting Hong Kong’s stake in Travellers. Previous reports  claimed that the sudden departures of senior casino executives may have been linked to embezzlement. Since June, Nilo Thaddeus Rodriguez has been appointed as President and Chief Executive Officer, while Lance Gautreaux was appointed Chief Operating Officer. Rodriguez had a background in hospitality and finance. Tan had intended for Rodriguez to take over the company back in 2022, but he first needed to adjust to the specifics of the resort industry. “When I invited him he was actually stationed back in Manila with the Philippine Airlines and he was in charge of the massive debt restructuring during COVID. The airlines industry was massively hit during during the pandemic and he was involved and he was in charge of doing this restructuring which brought the airline back to profitability right after the pandemic so you know I thought that he definitely possessed the right skills to be able to really run the Integrated Resort professionally,” Tan shared. Recent leadership changes at Newport World Resorts in Manila mark a pivotal moment for the integrated resort, as the company aims to adapt and thrive in a competitive gaming environment. For Tan, while the original team laid the groundwork for the property’s success, he emphasized that the team may not be the same as the one needed to drive future growth. “Fifteen years later, the startup team and those in charge of growing the business need not necessarily be the same team,” he stated. In 2022, after acquiring the shares of their partners, Tan recognized the need for a more energetic and driven leadership team to guide the resort into its next phase. “This realization prompted the assembly of a group of executives from various competitive gaming jurisdictions, tasked with enhancing the management of Newport World Resorts. “We reached an agreement to proceed with this transition,” he noted. Gautreaux joined the company a year later, with background in gaming and hospitality across multiple international jurisdictions. He was Chief Casino Officer of The Venetian Las Vegas. Tan’s strategic vision for Newport World Resorts focuses on enhancing guest experiences and ensuring the property remains competitive in the marketplace.

Marina Bay Sands IR2 construction begins June 2025, with completion expected by June 2030 and an official opening projected for January 2031. Las Vegas Sands (LVS) has announced an investment of $8 billion to expand the Marina Bay Sands in Singapore. This project, dubbed as “Marina Bay Sands IR2,” marks a significant addition to the iconic Marina Bay Sands complex, which has long been a cornerstone of Singapore’s tourism and gaming industry. Patrick Dumont, LVS President and COO emphasized the company’s aim to create a landmark destination. For Dumont, the new tower will be a premier gaming and hotel facility, focusing on delivering top-notch service and experiences to high-end clientele. “Our goal with this tower is to make it something very different. This is going to be the most important gaming and hospitality building in the world. It’s going to be the best hotel in the world, and that’s our goal: the best service, the best experience, the best F&B,” said LVS president and chief operating officer Patrick Dumont said in a statement, as quoted by the Singapore’s Business Times. The new IR2 project will not expand the existing hotel but will create a separate venue featuring a casino, 570 luxury suites, a 15,000-seat arena, and extensive MICE (Meetings, Incentives, Conferences, and Exhibitions) facilities, alongside high-end dining and a SkyPark. In its recent earnings report, LVS indicated that the costs for IR2 have significantly increased from the initial $3.3 billion estimate announced in 2019. The breakdown includes $4.7 billion for design and construction, $2 billion for land premiums, and $1.3 billion in upfront investment costs. Construction is set to begin in June 2025, with an anticipated opening date of January 1, 2031. LVS plans to fund 25% to 35% of the project through direct investment, while the rest will come from financing. Robert Goldstein, LVS Chairman and CEO, projected Singapore’s gross gaming revenue (GGR) to reach $6.5 billion in 2024, with long-term growth expectations of up to $11 billion. He expressed confidence that Marina Bay Sands IR2 will enhance the company’s earnings, adding approximately $1 billion in annual EBITDA to the company’s bottom line. Additionally, LVS is eyeing a $750 million renovation of Marina Bay Sands Tower 3, expected to be completed by the second quarter of 2025. This upgrade will include redesigned guest rooms and suites, lobby enhancements, new dining options, and wellness facilities. Marina Bay Sands opened in 2010, transforming the city’s skyline with its distinctive three-tower design and offering a mix of luxury accommodations, entertainment, and a casino. Over the years, the resort has played a crucial role in boosting tourism and contributing to Singapore’s status as a global gaming hub.

Alliance Global Group, Inc. (AGI), parent of Travellers International, confirms plans to invest $300M in a Boracay casino resort and $400M in a Cebu integrate d resort. Alliance Global Group, Inc. (AGI), the parent company of Travellers International Hotel Group Inc., reiterated its plans to invest approximately US$300 million in a new casino resort project in Boracay. The Boracay project represents AGI’s first expansion outside its flagship Newport World Resorts. The new casino resort will be situated within the 150-hectare Boracay Newcoast township, which is being developed by AGI’s subsidiary, Megaworld Corporation. This project signifies a major step for the company as it seeks to enhance its presence in the tourism and gaming sectors. Its recent filing with the Philippine Stock Exchange reiterated the company’s commitment to the Boracay project, specifying that it will be developed under another of its subsidiaries, Boracay Newcoast Resorts, Inc. (BNRI). The estimated cost for this project is set at US$300 million, which AGI has committed to in alignment with BNRI’s provisional license from the Philippine Amusement and Gaming Corporation (PAGCOR). While the Boracay casino resort will be smaller than the Integrated Resort and Casino Project at Newport World Resorts, AGI maintains that the venture will still contribute positively to the company’s portfolio. The company explained that, due to its smaller scale, the financial impact on BNRI and AGI would also be less significant than that of Newport World Resorts. Nonetheless, the investment reflects AGI’s commitment to bolstering its operations and enhancing the tourism experience in Boracay. In addition to the Boracay project, AGI has ambitious plans for Cebu, where it aims to invest an impressive US$400 million in another casino-resort development. This project will be located within Megaworld’s Mactan Newtown township, which has become a focal point for tourism and development in the region. The decision to invest in these two high-profile projects is part of AGI’s broader strategy to expand its footprint in the Philippine gaming and hospitality markets. The company has identified Boracay and Cebu as key locations for development, leveraging their appeal as major tourist destinations. Both projects aim to provide enhanced facilities and entertainment options for both local and international visitors.

The Philippines plans to add 456,000 new hotel rooms by 2028, according to the Philippine Hotel Owners Association (PHOA), to meet growing accommodation demand. The Philippines is gearing up for a significant expansion in its hospitality sector, with plans to create 456,000 new hotel room keys by 2028. This ambitious initiative, announced by the Philippine Hotel Owners Association Inc. (PHOA), aims to meet the anticipated demand for accommodations in the coming years. The announcement was made recently during the unveiling of the Philippine Hotel Industry Strategic Action Plan (PHISAP) 2023-2028 at the Westin Manila Hotel in Ortigas . Tourism is a crucial part of the Philippine economy, and the ongoing growth in this sector highlights its resilience in overcoming various challenges. During the launch event, Tourism Secretary Christina Garcia Frasco emphasized the importance of the hotel industry in supporting the overall tourism landscape. “As we celebrate these wins, we must also confront the challenges before us,” Frasco stated, acknowledging the need for continued investment and development. The Philippine Hotel Industry Strategic Action Plan has been developed to enhance the competitiveness and sustainability of the hotel sector. According to the Department of Tourism ( DOT ), the action plan will not only focus on expanding the number of hotel rooms but also aim to improve the quality of services offered to both local and international travelers. Frasco pointed out that the hotel sector contributes significantly to the country’s tourism economy, accounting for 16.2 percent of the tourism direct gross value-added (TDGVA), which is estimated at P2.09 trillion. The industry also plays a key role in employment, supporting 23.3 percent of the 6.21 million tourism jobs recorded in 2023. The DOT plans to gather feedback from industry stakeholders to ensure that the action plan aligns with the evolving needs of tourists. By fostering collaboration among various partners, the DOT aims to enhance the overall experience for visitors and improve the local accommodation sector. “PHISAP seeks to address the evolving demands of tourism in a way that is both innovative and inclusive,” Frasco was quored as saying in an Inquirer report. The plan will not only prioritize new hotel constructions but also emphasize sustainable development practices. Another key aspect of the DOT’s strategy is improving transportation networks across the country. Enhancing access to even the most remote tourist destinations is essential for attracting more visitors. Frasco highlighted the importance of constructing and expanding tourism roads and bridges to connect these locations more efficiently. Additionally, the privatization of airports is being actively pursued to streamline travel. Digitalization is another focus area in the DOT’s action plan. Modern travelers increasingly rely on technology for information and convenience. To address this, the DOT is launching the Travel Philippines Mobile Application, which aims to provide essential information for tourists. Moreover, a new tourist assistance call center will be established to support visitors in need. The government is also taking steps to enhance the safety and well-being of tourists. Frasco noted the upcoming construction of tourist first aid facilities at popular destinations. This initiative aims to ensure that travelers have access to medical assistance when needed. Additionally, plans are underway to establish hyperbaric chambers to ensure divers’ safety, along with ongoing training for tourist police across the country.

City of Dreams opened its first Sri Lanka hotel on Oct 15, 2024, the region’s first integrated resort with gaming facilities. The 687-room hotel “Cinnamon Life at City of Dreams Sri Lanka” opened its doors in capital city Colombo, which is also the country’s financial and tourism hub. This landmark project represents the largest private investment in Sri Lanka , valued at over US$1.2 billion. The property is part of a joint venture between Macau-based gaming giant Melco Resorts & Entertainment and Sri Lankan conglomerate John Keells Holdings. While the hotel is already open to the public, they will slowly add more facilities which includes a casino in mid-2025, according to a Ceylon Daily  report. The Cinnamon Life project is an integrated development that includes an upscale shopping mall, state-of-the-art entertainment areas, a gaming facility, and the ultra-luxury 113-room “Nuwa” hotel, which is slated to open by mid-2025. In April 2024, Melco Resorts secured a 20-year casino license, rebranding the former Cinnamon Life Integrated Resort as City of Dreams Sri Lanka. This ambitious project reflects Melco’s strategic investment of over US$125 million, which Melco Chairman and CEO Lawrence Ho described as a “small wager” with the potential for significant returns. Melco estimates the property could generate Gross Gaming Revenue (GGR) between US$200 million and US$250 million annually. Additionally, Ho has indicated that there may be opportunities for expanding the gaming facilities, depending on market performance and demand. This is a big step to Sri Lanka’s growing gambling industry, which has already attracted foreign investments from global players. Sri Lanka’s gambling market remains relatively young compared to regional counterparts, but the opening of City of Dreams marks a significant leap forward. This development underscores the potential for the country to become a regional gaming hub, contributing to tourism and economic growth.

Star Casino has been hit with a US$10 million fine by Australia’s casino regulator, and its license suspension is extended until March 2025. Australia’s No. 2 casino operator Star Entertainment has been hit with a substantial AU$15 million (US$10 million) fine by the New South Wales (NSW) casino regulator, the Independent Casino Commission. The financial repercussions for the Sydney casino do not stop there; its license suspension has been extended until early 2025, a move that reflects ongoing compliance failures revealed in a recent inquiry. On October 17, 2024, the NSW Independent Casino Commission (NICC) announced that it will appoint a manager that will maintain oversight of Star’s casino operations in Sydney until March 31, 2025. On that date, the NICC plans to reevaluate Star’s eligibility to reclaim its license. This oversight aims to ensure compliance and restore public confidence in the operations of Star Entertainment. The Chief Commissioner of the NICC, Philip Crawford, has highlighted serious issues revealed in the inquiry led by Adam Bell, SC. According to Crawford, the inquiry uncovered “continuing compliance failures” that could not be overlooked. After the second report from Bell was released in August, Crawford stated that canceling Star’s license would have been a “very final act.” He emphasized the potential economic implications of such a decision, particularly for the economies of both New South Wales and Queensland. “We’re very heavily still motivated by what our perception of the public interest is. And if Sydney Star fails, the Star Group will fail, and that’s a group that employs 9000-plus people and if you add on to that, the huge number of suppliers to the business,” Crawford was quoted as saying in a report published by The Sydney Morning Herald. Crawford elaborated on the importance of the casino to the local economy, noting that if the Star Casino were to fail, the Star Group would follow suit. This failure could put over 9,000 employees at risk, along with a vast network of suppliers dependent on the casino’s operations. Such a situation underscores the complexities involved in regulatory decisions affecting major corporations. Star’s shares faced a trading halt following the announcement of the fine. The stock has seen a staggering 58% decline over the past year, reflecting the deepening financial and regulatory challenges facing the company. Despite this, Crawford refrained from stating whether the casino had become “too big to fail.” He stressed that the loss of the license would leave no chance for recovery. “There’s no suggestion in this Bell Report of criminality,” Crawford stated, assuring the public that organized crime has not infiltrated the operations of Star. However, he acknowledged the serious doubts surrounding the company’s capability to maintain compliance. “That can’t continue, but we’ve got plenty of work being done on the culture,” he added, recognizing the commitment of the staff to improve their operations under the right leadership. Star Entertainment’s Sydney casino has been under intense scrutiny since 2022, when a critical report revealed the company’s unsuitability to hold a gaming license in the state. This scrutiny has intensified following the financial losses and operational difficulties the company has faced in recent months. The AU$15 million fine imposed on Star was specifically related to breaches of internal control manuals. Furthermore, the company has been given directives regarding the operation of its compliance committee and the reporting lines within it. These measures reflect a push for greater accountability and transparency within the organization, necessary steps toward rebuilding trust with regulators and the public. Crawford noted improvements in transparency and accountability under the new leadership of CEO Steve McCann, who was appointed in June. Following the review that led to the resignation of Star’s chairman, David Foster, and former CEO, Robbie Cooke, Crawford remarked on the significant changes in the dialogue between the regulator and the casino. “We’ve noted a significant change and improvement in the dialogue… especially since the appointment of Steve McCann as the CEO,” he stated. The challenges for Star Entertainment are far from over. Last month, the company announced plans to slash hundreds of jobs and consider selling off assets to stabilize its financial situation. Back then, Star confirmed the successful sale of its former Brisbane casino building, Treasury Brisbane Casino . This decision came after negotiating a last-ditch deal with its banks for $200 million in loans, aimed at keeping the business afloat amid mounting pressures. In the fiscal year ending June, Star reported a staggering loss of $1.69 billion, primarily driven by decreased foot traffic and rising operational costs. This loss underscores the severe challenges the company faces in a highly competitive and regulated environment.

Macau's Legislative Assembly approves new illegal gaming law to tackle illicit activities and modernize gaming regulations in the region. The bill approved on October 16, 2024, targets Macau illegal gaming by criminalizing activities such as illegal currency exchange. It also imposes penalties on side and parallel betting, strengthening the regulation of gaming-related offenses. Chan Chak Mou, the president of the Second Standing Committee of the AL, highlighted that this new law standardizes the treatment of illegal gambling activities, regardless of whether they occur inside or outside casinos. This represents a significant shift from previous regulations, which did not address these distinctions comprehensively. One of the key focuses of the new law is to tackle crimes related to parallel betting and side betting. These practices have been a growing concern for regulators, prompting the need for stricter measures. The legislators were also attentive to online gaming activities, although Chan pointed out that the new law does not introduce significant changes compared to the previous one. Nonetheless, he emphasized that the updated legislation reflects developments within the industry, promoting necessary changes in this area. A noteworthy amendment in the final version of the bill concerns illegal currency exchange for gambling purposes. This activity is now classified as a crime, whether it takes place in a casino or elsewhere. Chan clarified that the law penalizes those who engage in such exchanges, but does not impose penalties on casino patrons. This distinction aims to protect individuals who may unknowingly participate in illegal activities. The law also introduces stricter regulations regarding money loans for gambling. These measures are designed to deter financial exploitation and protect vulnerable individuals from the risks associated with gambling debts. The absence of extensive discussion or debate among lawmakers during the approval process indicates a strong consensus on the importance of these regulatory changes. Despite the overwhelming support for the new law, some lawmakers raised concerns about specific provisions. According to the Macau Daily Times, lawmaker Ron Lam questioned the government regarding new regulations concerning lotteries. Under the new law, the exploitation of lotteries now carries a penalty of up to two years’ imprisonment. Lam expressed particular concern about the sale of the Hong Kong Lottery – Mark 6, which has been a sensitive topic in Macau for many years. In response, Secretary for Administration and Justice, André Cheong, clarified that the law applies to all forms of foreign lotteries and any potential local variations. He emphasized that the legislation targets the commercial exploitation of these activities rather than informal arrangements, such as friends helping each other buy lottery tickets. However, Lam remained unconvinced and requested a separate vote on this specific article, arguing for a clearer stance from the government. Lam’s insistence on addressing the sale of the Hong Kong Lottery stems from a desire to prevent legal ambiguities that could ensnare residents. His concerns reflect broader issues surrounding gambling regulations in Macau, particularly as the region grapples with balancing the interests of the gaming industry and the need for responsible governance. The Illegal Gambling Law introduces several new criminal provisions, including a stringent prohibition on what is often referred to as “under-the-table betting.” Offenders could face up to eight years in prison for violating this rule. The government’s position is that previous instances of “under-the-table betting”—likely referencing the recent trials involving Suncity Group and Tak Chun Group—have significantly hindered the growth of the gaming industry. To address this, there is a clear need to strengthen the legal framework to explicitly ban such practices. Additionally, the law empowers criminal investigation officers by granting them new authorities for evidence collection, including “night-time evidence gathering” and “undercover operations” targeting illegal gambling activities. New amendments to the bill also criminalize “money exchange gangs.” Those who facilitate illegal currency exchanges for gambling purposes will now face penalties of up to five years in prison.

The Philippines and Cambodia are key to the growth strategy of Malaysian casino equipment supplier RGB in the future. Malaysian casino equipment supplier RGB International Bhd is optimistic about the future of the casino equipment market. The company anticipates significant growth over the next three to five years, driven by strategic expansions in key regions such as the Philippines and Cambodia. In a recent interview with Malaysian publication The Edge, RGB’s Chief Operating Officer, Steven Lim Tow Boon, emphasized that the gaming industry, particularly the casino equipment sector, is set for strong performance. He noted the Philippines’ crucial role in this upward trajectory, positioning the country as a key driver of growth. In May, RGB made headlines by securing a major contract with the Philippine Amusement and Gaming Corporation (PAGCOR). This order involves supplying nearly 2,000 slot machines to 16 state-run casinos . Such significant contracts reflect the rising demand for gaming equipment in the region and RGB’s capability to meet this demand effectively. RGB operates through three main divisions. Its SSM division focuses on the manufacturing and distribution of electronic gaming machines (EGMs), spare parts, a variety of casino equipment, and comprehensive casino management systems. The Philippines is home to more than 15 privately operated integrated resorts and casinos, utilizing approximately 25,000 electronic gaming machines. The country has consistently achieved impressive gross gaming revenue, totaling US$3.3 billion (RM13.89 billion) in the first half of this year, positioning it to potentially outpace Singapore by next year. Plans are underway for PAGCOR to privatize all 16 of its casinos and 24 VIP clubs in the coming years. Despite having around 25,000 electronic gaming machines (EGMs) in its privately-operated integrated resorts and casinos, the Philippines is still one of the least penetrated slot machine markets in the region, particularly when considering the number of EGMs per million residents. For comparison, Australia has about 200,000 EGMs for its 25 million population, while the Philippines, with its 110 million residents, hosts only 12.5% of that figure. Lim is optimistic about the gaming industry’s future, especially within the casino equipment sector, predicting a positive trajectory over the next three to five years. “In the Philippines, there are currently up to eight new integrated resorts approved, with at least one expected to launch each year,” he notes. Expanding its regional footprint further, RGB has signed an exclusive agreement with Firm 614, a company uniquely licensed by Cambodia’s Commercial Gambling Management Commission (CGMC). This partnership enables RGB to import, sell, and distribute gaming equipment and software to licensed operators in Cambodia. The collaboration highlights RGB’s commitment to increasing its presence in this emerging market. Chuah Eng Meng, RGB’s senior vice president for sales, support, and marketing, shared insights about the Cambodian market. Currently, approximately 6,500 slot machines are operational across 118 casinos in Cambodia. With ongoing developments, this number is expected to reach 10,000 machines in the coming years. This projection underscores the potential for growth in the region and highlights RGB’s strategic positioning to capitalize on it. Despite challenges, including impairments totaling RM37.1 million ($8.6 million), RGB reported a remarkable increase in net profit for the financial year ending December 31, 2023. The company’s net profit surged 5.5 times to RM21.21 million ($4.9 million), a substantial leap from RM3.82 million ($886,344) the previous year. Excluding these impairments, the earnings would have more than doubled, reaching RM58.3 million ($13.5 million), demonstrating the robust health of RGB’s operations. Looking ahead, Chuah expressed confidence in RGB’s ability to overcome financial challenges. He pointed to positive trends already evident in the company’s second-quarter results for FY2024. The outlook remains bright, with RGB expecting to surpass its previous net profit record of RM40.17 million ($9.3 million) set in 2019. In the first half of FY2024 alone, RGB reported earnings of RM40.7 million ($9.4 million), indicating a strong trajectory.

Crown Melbourne fined AU$2M for allowing 242 self-excluded gamblers, violating responsible gambling rules from Oct 2023 to May 2024, says VGCCC. Self-exclusion is a program designed to help individuals avoid gambling by permitting them to ban themselves from entering gaming venues. It is intended to protect those at risk of gambling harm. In Victoria, it is illegal for casinos to allow self-excluded individuals to enter, remain, or participate in gambling activities. VGCCC Chair Fran Thorn emphasized the casino’s obligation to safeguard individuals vulnerable to gambling-related harm. “Those who self-exclude must be able to trust that gambling providers will take all reasonable steps to enforce their decision to avail themselves of this harm prevention initiative,” Ms. Thorn was quoted as saying in a report published by ABC News. “By allowing people who have self-excluded to enter the casino and gamble, Crown has put them at risk of experiencing further gambling harm,” she added. Crown Melbourne has been directed by the VGCCC to engage an independent expert to evaluate its self-exclusion program. This expert will assess the program’s effectiveness and recommend improvements. According to Ms. Thorn, while the casino’s oversight led to the breaches, many of the self-excluded individuals also attempted to bypass the restrictions and gamble undetected. The VGCCC’s findings suggest that the failures were systemic rather than a result of intentional disregard by Crown. The Commission has mandated that Crown implement the expert’s recommendations in due course to enhance its self-exclusion management. The self-exclusion program is a critical component of gambling harm reduction initiatives. By allowing individuals to take proactive steps to avoid gambling, the program aims to mitigate the risks associated with gambling addiction. In response to the ruling, a Crown spokesperson stated, “Crown is committed to ensuring a safe and responsible gaming environment with a focus on guest wellbeing and harm minimization.” The spokesperson indicated that the casino is collaborating with the VGCCC to resolve the issues identified. This fine follows a tumultuous period for Crown Melbourne, which had been under intense scrutiny for its operational practices. Earlier this year, the VGCCC completed a two-year probation period and determined that Crown could retain its license to operate Victoria’s only casino, contingent upon improved conduct. This latest fine raises questions about the effectiveness of those improvements. Crown has incurred a total of AU$700 million (US$470 million) in fines and settlements due to compliance failures that resulted in its designation as unsuitable to operate casinos in Victoria, New South Wales (NSW), and Perth. This includes a significant AU$450 million (US$302 million) settlement with AUSTRAC, the agency overseeing financial crime.

Okada Manila reports a 33.4% revenue drop to $142M in Q3 2024, with declines in both VIP and mass table games, marking significant challenges for the resort. According to a financial report released on October 15, 2024 which was cited by Inside Asian Gaming, total revenue for Okada Manila dropped by 30.9% compared to the same period last year, amounting to Php9.16 billion (around US$158 million). The decline was particularly pronounced in the VIP table games sector, where revenue plummeted by 44.3% year-on-year to Php2.47 billion (about US$42.7 million). The mass table games segment also saw a significant drop, decreasing by 40.2% to Php2.46 billion (approximately US$42.6 million). Meanwhile, revenue from slot machines fell by 13.4% to Php3.31 billion (around US$57.3 million). The adjusted segment EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) also reflected this downturn, coming in at Php1.10 billion (around US$19 million). This figure represents a staggering 69.2% decrease year-on-year and a 49.0% decline compared to the previous quarter. Despite the revenue challenges, the operator of Okada Manila–Tiger Resort, Leisure and Entertainment Inc. (TRLEI)–did not specify the reasons behind these declines. Notably, hotel occupancy rates remained strong, reaching 87.0% in the third quarter, up from 81.4% a year earlier. Additionally, total visitation only saw a minor decrease of 5.4%, with 1,418,190 visitors recorded during the quarter. For the first nine months of 2024, the situation remained bleak, with gross gaming revenue down 26.6% year-on-year to Php25.8 billion (around US$446 million). The adjusted segment EBITDA for this period also fell by 44.0% to Php5.57 billion (approximately US$96.4 million). The decline in revenues raises questions about the integrated resort’s market positioning and competitive landscape. While the exact reasons for the revenue drop remain unclear, some analysts have pointed to external factors affecting the gaming industry in the Philippines. These could include changes in consumer behavior, increased competition from other gaming establishments, or broader economic conditions impacting discretionary spending. It is worth noting that Okada Manila experienced significant operational issues in late 2023, when a major IT outage disrupted operations. The incident resulted in all slot machines being temporarily shut down and many systems across the resort being affected. At the time, the company referred to the outage as “technical issues” with their Information Technology Systems.