Philippine Offshore Gaming Operators (POGOs) vacate 274,000 square meters of office space in 2024, mostly in the last two months, due to government ban. The Philippine real estate market is grappling with a surge in office space vacancies, primarily driven by the government's crackdown on Philippine Offshore Gaming Operators (POGOs). In 2024, POGO firms vacated 274,000 square meters (sqm) of office space, primarily concentrated in the Bay Area of Pasay City. This exodus, which was mostly done during the last two months, was triggered by President Ferdinand Marcos Jr.'s directive to phase out POGO operations by the end of the year, citing concerns over tax evasion, money laundering, and social issues. With POGOs out of the picture, the Philippine office market faces a lingering challenge. Vacancy rates are projected to remain high at 18% in 2025, based on data released by Leechiu Property Consultants (LPC) on December 10, 2024.  The POGO sector's departure has significantly impacted the commercial real estate market, particularly in key business districts like Metro Manila. The Bay Area, once a hub for POGO operations, is now facing a 23% vacancy rate. While government agencies are relocating and expanding their presence in the area, it is not enough to offset the loss of POGO-related demand. The information technology-business process management (IT-BPM) sector has also contributed to the rise in vacancies, with 200,000 sqm of office space vacated due to relocation, downsizing, and consolidation efforts. Traditional office tenants have also downsized and relocated, adding another 216,000 sqm to the vacancy pool. As a result of these factors, the Philippines' overall office vacancy rate has climbed to 18%, with a total of 3.3 million sqm of vacant office space. This exceeds the current demand of 1.1 million sqm, which is primarily driven by the government, IT-BPM, and traditional sectors. Leechiu projects that office space vacancy will likely stay at 18% next year. While the government's crackdown on POGOs has had a significant impact on the short-term outlook for the office market, the long-term prospects remain positive. The IT-BPM sector, a key driver of economic growth, continues to expand, and the government's infrastructure investments are expected to boost demand for office space. However, the market will need time to absorb the excess supply and stabilize. Real estate analysts predict that vacancy rates will remain elevated in 2025 but are expected to gradually decline thereafter. “In 2025, we do believe that given all these contractions, we will need time to be able to fill this all up, so vacancy levels next year will continue to flutter in the same level and we will see that really take a turn in 2027,” LPC commercial leasing director Mikko Baranda was quoted as saying in a GMA Network report.  He projects that the office vacancy level of the Philippines would only start shrinking by 2027 as “supply and demand trends indicate that the market is shifting toward a more balanced equilibrium.” He also disclosed that this figure could eventually contract further to 7 percent by 2030.  To mitigate the impact of the POGO exodus, property developers and landlords may need to adopt flexible leasing strategies, offer attractive incentives to tenants, and consider repurposing vacant office spaces for alternative uses, such as residential or retail. The POGO crackdown serves as a reminder of the importance of a diversified economy and the need for robust regulatory frameworks to ensure sustainable growth. As the Philippines continues to attract foreign investment and develop its digital economy, the real estate market will need to adapt to changing dynamics and emerging trends. Read related article: Office Market Registers Negative Net Take-up After POGO Ban

Ho Iat Seng, former Chief Executive of Macau, emphasizes his vision for Macau to be 'No Longer Dominated by the Gaming Industry,' aiming for broader recognition. Macau’s outgoing Chief Executive, Ho Iat Seng, has underscored the city’s determination to move beyond its reliance on the gaming sector. He announced that Macau “is no longer dominated by the gaming industry.” He made this announcement in an interview with multiple media outlets as he discussed the 25th anniversary of the establishment of the Macau Special Administrative Region (SAR), which will be celebrated on December 20, 2024. Macau, the former Portuguese colony, is undergoing a significant transformation as it celebrates the 25th anniversary of its return to Chinese sovereignty. While the city has long been synonymous with its thriving gaming industry, it is now actively diversifying its economy and embracing its cultural heritage. The outgoing executive pointed out that Macau is "shifting away from a gaming-dominated economy. Ho, who will step down in just over a week’s time, says he wants people to not just see Macau "as a destination for casino gaming."  The gaming revenue of Macau in 2023 reached approximately 75% of its 2019 level. However, its contribution to Macau's GDP has significantly diminished, representing only 37.2% of the total economic output. The government has set an ambitious goal to increase the share of non-gaming value-added sectors to 60% by 2028. This strategic shift is driven by a recognition of the vulnerabilities inherent in a single-sector economy. The COVID-19 pandemic exposed the risks of over-reliance on a specific industry, prompting Macau to explore new avenues for growth.  Ho pointed out that when he assumed office, his government has “prudently handled the revision of Macau’s gaming laws and the new round of gaming concession bidding, implementing stricter regulations on the gaming industry and clearly defining the direction for the development of non-gaming sectors.” One key area of focus is the development of Macau as a cultural hub. The city is leveraging its unique blend of Chinese and Western cultures to attract tourists and residents alike. The performing arts industry has witnessed substantial growth, with increased ticket sales boosting related sectors such as retail, dining, and hospitality. However, Macau faces challenges in accommodating large-scale events due to limited venue capacity. To address this, the government is constructing a new outdoor performance venue that can host up to 80,000 people. Korean actor and singer Lee Joon Gi will hold the inaugural event at the Macau Studio City Event Center on December 28. This initiative is expected to further elevate Macau’s cultural status and attract international artists and events. Macau’s integration into China’s national development strategy is another crucial factor driving its transformation. The city is actively participating in various initiatives, including economic cooperation, cultural exchange, and technological innovation. By leveraging its strategic location and unique advantages, Macau aims to position itself as a vital link between China and the world.  Read related article: Macau Forecasts $29.7 Billion in Gaming Revenue for 2025

PAGCOR Projects a significant decline in online gambling hubs in the Philippines, with only 13 remaining from 298 as of November 30, 2024. The Philippine Amusement and Gaming Corporation (PAGCOR) projects that the Philippine gambling industry will close 2024 with gross gaming revenue (GGR) exceeding P350 billion (US$6.03 billion).  PAGCOR Chairperson Alejandro Tengco recently shared these updates during a forum hosted by the Stratbase ADR Institute and in discussions with multiple media outlets. Record Gaming Revenue for 2024 PAGCOR projects that the Philippine gambling industry will close 2024 with an all-time high gross gaming revenue (GGR) exceeding P350 billion (approximately $6.03 billion).  This marks a 23% increase from the P285 billion recorded in 2023 and surpasses PAGCOR’s 2024 target of P334 billion. Tengco attributed the surge to the rapid growth of the electronic gaming sector, which includes eCasino, eBingo, sports betting, and specialty games. “Our GGR for the year, I think it’s over 350 billion pesos,” Tengco stated. The record revenue underscores the resilience and expansion of the gambling sector, even as PAGCOR undertakes extensive reforms.  Manila’s vibrant gambling scene, which features integrated casino resorts, continues to attract high-rolling tourists from countries like China, Japan, and South Korea. Revenue generated by PAGCOR, which operates under the Office of the President, contributes significantly to the national budget. Decisive Action Against POGOs One of PAGCOR’s most high-profile initiatives has been the systematic dismantling of Philippine offshore gaming operators (POGOs), a sector marred by controversies. When Tengco assumed leadership in 2022, the country had 298 online gambling hubs. By November 30, 2024, this number had plummeted to just 13. PAGCOR has committed to shutting down the remaining operations by December 15, 2024. “By December 15, we expect to have zero POGOs remaining,” Tengco declared. He emphasized that any POGOs still operating after January 1, 2025—including those in provincial areas—will be deemed illegal due to the cancellation of their licenses. This crackdown is in line with President Ferdinand Marcos Jr.’s directive issued in July to eliminate POGOs, following widespread reports of crimes linked to the sector. These include human trafficking, torture, kidnapping, and fraudulent schemes such as cryptocurrency investment scams and credit card fraud. READ: President Marcos Signs Executive Order 74 Enforcing POGO Ban The online gambling industry emerged in 2016, rapidly expanding by targeting customers from China where gambling is illegal. However, the sector’s unchecked growth brought unintended consequences, with criminal activities tarnishing the country’s reputation. PAGCOR, however, does not have enforcement powers to ensure compliance. Tengco noted that law enforcement agencies will be tasked with executing the POGO ban and addressing illegal operations moving forward. Read related article:   PH Gaming GGR Grows 37.52% to P94.61 Billion in 2024 Q3

Thailand may need to address some legal challenges before legitimizing casinos in entertainment complexes, according to a November 2024 study. Thailand may need to address some legal challenges before it pushes to legitimize casinos in entertainment complexes, according to a study.  Findings from TGM Research’s “TGM Gambling & Sports Betting Report 2024” showed that while underground gambling is widespread, the views towards the industry are “polarizing.”  These results, based on a November 2024 study, was unveiled during the Thai Entertainment Complex Summit organized by Winna Media . As the lead media partner of this Summit, Asia Casino News (ACN) attended this event which took place from December 2-4.  “We can see that gambling is widespread and popular in Thailand. People spend different amount of money, it depends on gender age and type of activity. People know that this is illegal. We have very polarized opinions on gambling and its legalization and concerns on its negative parts. We have plenty of opportunities in legalizing it but there are challenges that need to be addressed,” said Greg Laski, Chief Executive Officer of TGM Research during the Thai  Entertainment Complex Summit held in capital Bangkok.  READ: ACN Spotlight: Winna Media CEO Weighs Thailand Casino Potential “[There is] some skepticism if government can follow the regulation. Cultural and ethical problems, as well as securing those who need to be far away from gambling,” he added.  The study indicated that 38 people have a “negative overall attitude towards gambling,” while 18 percent positively view the practice. Around 43 percent, meanwhile, are neutral towards gambling. Laski believes it would be a major undertaking to persuade the government to move forward with legalization. “Their fear and most of the concerns is that it can lead to financial problems. It can lead to the increased crime and corruption, family conflicts and mental health issues.  Therefore, this debate has both opportunities and risks,” Laski shared.  READ: Nearly 5 Million Thai Children Are Gamblers: Study Laski also noted that 33% of those who gamble “do not see the real” benefits of gambling.   The Singapore model, which combines regulated gambling with strict social controls, has emerged as a potential blueprint for Thailand. However, many Thais are wary of the potential negative consequences and are calling for a cautious approach. "Thais want to have gambling but legalized and under control," Laski explained. "They want to attract more tourists and have a place where they can entertain, but they also want to protect their society from the potential harms of gambling addiction." The survey also revealed that Thais are particularly concerned about the impact of gambling on young people. Many respondents expressed a desire for strict age verification and other measures to prevent underage gambling. Thailand is making significant strides towards legalizing casinos by 2025. This strategic move is driven by the government's desire to boost tourism, attract foreign investment, and generate substantial tax revenue. The proposed legislation envisions the establishment of integrated entertainment complexes, where casinos will be integrated with various entertainment and leisure facilities.  Read related article: Thailand Proposed IRs to Draw Gamblers From These Countries

The World Health Organization criticizes pro-gambling advocates, calling for stronger gambling regulations to address the industry's negative effects and oversold benefits. The World Health Organization (WHO) has voiced strong concerns about the efficacy of current gambling regulations in its fact sheet on gambling  that was released on December 2, 2024. The WHO is calling for more stringent measures to protect vulnerable individuals. The organization criticized the gambling industry’s existing safer gambling initiatives, arguing that they are insufficient in addressing the serious societal harms caused by gambling. Instead, the WHO has recommended that jurisdictions adopt a more resolute and comprehensive approach to gambling regulation, including mandatory harm prevention measures and a crackdown on gambling advertising. WHO’s Critique of Current Safer Gambling Measures The WHO’s statement took aim at what it called the industry's flawed approach to safer gambling. According to the WHO, current industry practices often place the responsibility for gambling harm on the individual, rather than addressing systemic flaws in the industry itself. Many of the existing safer gambling tools, such as self-exclusion and loss limits, are optional and ineffective, the WHO argued. These tools, while beneficial in theory, are often underused and do not adequately protect the most vulnerable gamblers, who are most at risk of harm. While the WHO acknowledged that certain measures—such as loss limits, maximum bet sizes, and self-exclusion—are helpful, it emphasized that these solutions should be made mandatory. The organization recommended that jurisdictions implement pre-commitment systems, where players are required to commit to safe gambling practices before engaging in gambling activities. This approach, the WHO argues, would be far more effective in reducing the risk of harm to vulnerable players. Stronger Action Needed on Gambling Advertising Another key area of concern for the WHO is the widespread promotion of gambling. The organization called for an outright ban on gambling advertisements, sponsorships, and promotions, describing such actions as a necessary first step in combating the broader societal issues associated with gambling. According to the WHO, the marketing of gambling products exacerbates the problem by exposing vulnerable populations to the risks of addiction and financial harm.  The organization cited troubling data, noting that approximately 60% of the gambling industry’s revenue is generated by players with gambling problems. These individuals make up just 1.2% of the adult population globally, but their disproportionate spending highlights the extent of their vulnerability. In addition to financial distress, the WHO pointed out that gambling-related harms often contribute to or result in mental health issues, domestic violence, and even suicidal tendencies. The WHO also highlighted the fact that gambling establishments are often concentrated in economically disadvantaged areas, further exacerbating the harm caused. This targeting of vulnerable communities compounds the negative effects of gambling, particularly in regions already struggling with poverty. Gambling Advocates Are Overselling the Economic Benefits In its report, the WHO also criticized proponents of the gambling industry who focus on its supposed economic benefits while downplaying the significant social and health risks it poses. The WHO argued that these advocates often oversell the positive impact of gambling on local economies, while minimizing the long-term negative effects on individuals and communities.  The WHO pointed out that gambling can create a form of financial dependency that undermines efforts to regulate the industry effectively. Industry lobbying, the WHO noted, has been successful in preventing more robust regulations in many markets. Furthermore, the WHO raised concerns about the influence of the gambling industry on research into gambling-related harms. The organization alleged that gambling-funded research has been less likely to highlight the risks associated with gambling addiction and other harms. The UK’s Efforts to Address Gambling Harm In response to these concerns, the WHO cited the UK’s efforts to address gambling harm through a research, education, and treatment levy. This initiative seeks to replace the current system where gambling operators voluntarily donate to charities working on gambling-related harm prevention. The WHO praised this initiative, viewing it as a step in the right direction toward ensuring that funds are directed more effectively toward harm reduction and public health initiatives. The WHO also acknowledged that gambling regulation varies significantly across different jurisdictions. While some countries have implemented comprehensive regulations, others have been slower to act, often due to industry influence and financial dependence on gambling revenue. The WHO reiterated that universal measures, such as stopping gambling advertising and improving harm prevention strategies, should be adopted globally to safeguard public health. Monitoring and Regulating Gambling: A Global Necessity In its statement, the WHO emphasized the need for governments to closely monitor and regulate gambling operations, products, and activities. The organization advocated for a more coordinated international response to gambling-related harms, with an emphasis on reducing stigma, offering better support for those affected by gambling, and focusing on upstream efforts to prevent harm before it occurs.  The WHO also expressed its intention to conduct further research into gambling addiction, develop new diagnostic tools, and document best practices in regulation to support policymakers around the world. This research would help identify more effective ways to prevent gambling-related harm and improve treatment options for those already affected. Industry Pushback: Concerns Over Black Market Gambling While the WHO’s call for stricter regulations has gained attention, it has also faced criticism from some sectors of the gambling industry. Advocates for the industry argue that imposing tougher regulations may drive gamblers to the black market, where they would be exposed to even greater risks. The concern is that if legal gambling operations become too restrictive, players may turn to unregulated platforms that lack the safeguards offered by licensed operators. Despite these concerns, the WHO maintains that stronger regulatory frameworks are essential for protecting public health. The organization asserts that while the risks of black market gambling are real, they should not deter governments from implementing stricter regulations and stronger protections for vulnerable populations. The World Health Organization’s stance on gambling regulation calls for a fundamental shift in how the industry is managed. By advocating for mandatory harm prevention measures, a ban on gambling advertising, and increased research into gambling addiction, the WHO is pushing for a more robust and responsible approach to gambling regulation. While the WHO’s recommendations face resistance from some quarters, they represent a growing consensus that stricter oversight and greater public health protections are necessary to mitigate the harms associated with gambling. Read related article: Top 5 Most Popular Casino Games Searched in the U.S.

Pronet Gaming, a leading iGaming platform provider, proudly announces its participation in ICE Barcelona 2025 , set to take place from 20 to 22 January 2025, in Barcelona, Spain. Pronet Gaming, a leading iGaming platform provider, proudly announces its participation in ICE Barcelona 2025  at Fira de Barcelona Gran Via ( Stand 2C43 ) , set to take place from 20 to 22 January 2025 , in Barcelona, Spain .  The award-winning company has a proven track record in the iGaming technology space, offering integrated solutions across LatAm, Europe, Africa, and now—Asia. Since 1996, Pronet Gaming has combined cutting-edge technology with a dynamic team that brings extensive B2C and B2B industry experience. This year alone, Pronet Gaming made waves at major events, including ICE 2024 in London, as well as the ASEAN Gaming Summit & SiGMA Asia, both held in Manila, Philippines. With a focus on staying at the forefront of the gaming industry, Pronet Gaming remains dedicated to connecting with clients and partners worldwide while continuing to offer solutions that meet the evolving needs of the sector. Looking ahead, Pronet Gaming is particularly excited for ICE 2025 as it relocates to its new home in Barcelona. The move to this vibrant and culturally rich city marks a new chapter for the event, which Pronet Gaming is delighted to be part of. Its participation is just one component of an exciting 2025 agenda as the company continues its strategic growth, with a focus on expanding its footprint in Asia. “This edition of ICE feels especially significant for us as we prepare to expand our operations into Asia, a market brimming with potential and poised for extraordinary growth and innovation. We are looking forward to experiencing this massive industry event in Barcelona for the first time, and even more so to share the next stage of Pronet Gaming’s evolution as we tap into the incredible opportunities this dynamic region offers,” says Alex Leese, CEO, Pronet Gaming . With a renewed commitment to delivering innovative products and solutions, Pronet Gaming is poised to lead the way in the rapidly evolving global gaming market.  For more information about Pronet Gaming, please visit   www.pronetgaming.com . Read related article: Pronet Gaming Enhances Leadership Team with Alex Karaoulis

A prosecutor is set to be appointed into Japan’s casino regulatory commission, ahead of Osaka’s first integrated resort casino in late 2030. The Japanese government has submitted a proposal to the Diet to appoint three new members to the Japan Casino Regulatory Commission. This move comes as the country prepares for the opening of its first integrated resort casino in Osaka in late 2030. One of the key appointments is Takafumi Sato, who is slated to become the new chair of the commission. Sato, a former superintendent prosecutor, brings a wealth of legal experience to the role, as reported by GGRAsia.  He will succeed Michio Kitamura, another former prosecutor. The other proposed new member is Junichi Kakimizu, a former head of the National Tax College. Kakimizu's financial expertise is expected to be invaluable in overseeing the regulatory body. In addition to the new appointments, Michiko Watari, a psychiatrist, has been nominated for reappointment. Watari has been a member of the commission since its inception in 2020. The proposed changes to the commission's membership reflect the ongoing evolution of Japan's gaming industry. As the country prepares to welcome its first casino resort, the regulatory body plays a crucial role in ensuring the integrity and responsible operation of the industry. Two members of the casino commission are currently serving their appointed terms. Hirofumi Kitamura, a former director of the National Police Agency's Traffic Bureau, and Keiko Ishikawa, a professor of economics at Nihon University, both commenced their terms on January 7, 2023. Read related article: Konami Gaming & System Segment Sees Revenue Drop in 2024 1H

Kangwon Land, South Korea's only casino for domestic players, plans a $128M expansion to enhance offerings and attract more visitors. Kangwon Land, South Korea's sole casino open to domestic players unveiled plans to invest a substantial KRW179.6 billion ($128 million) to construct a second casino business site.  This ambitious move is part of a broader KRW2.5 trillion ($1.78 billion) development initiative aimed at enhancing the overall gaming experience and addressing capacity constraints, as reported by Inside Asian Gaming.  It also marks the first phase of a grand masterplan, envisioned to transform Kangwon Land into a comprehensive integrated resort. The expansion project will see the casino's footprint increase to 20,260 square meters, a substantial uptick from the current 14,512 square meters. The additional space will accommodate 50 more gaming tables, bringing the total to 250, and 250 more slot machines, raising the total to 1,610. The new casino will be housed within the B1, B2, and ground floors of the High1 Grand Hotel Main Tower. Construction is slated to commence in November 2023 and conclude in December 2027. The Ministry of Culture, Sports, and Tourism has already granted approval for the expansion project. With a total equity capital of KRW3.67 trillion ($2.62 billion), Kangwon Land is well-positioned to execute its ambitious vision. This strategic expansion underscores Kangwon Land's commitment to providing an exceptional gaming experience for its patrons. With its ambitious expansion plans, Kangwon Land is poised to usher in a new era of hospitality and entertainment. The second casino, coupled with the deluxe hotel and enticing leisure facilities, promises an unforgettable experience for guests.  Read related article: Korean Lottery Sales Soar to $3.3B, Reaches Record in 2024

INFINITY Lisbon at SBC Summit features Alok headlining the event, bringing his iconic Brazilian rhythms and EDM fusion to a global audience of gaming professionals. Set to raise the roof with an unforgettable fusion of lights and sound, the MEO Arena, home to SBC Summit’s ‘Super Stage’ during the day, will shift into high gear on September 18 as it transforms into the venue for the INFINITY Lisbon. Having hosted global icons like Beyoncé and The Weeknd, the arena promises an electrifying night designed to captivate the global gaming community. Rasmus Sojmark , CEO and Founder of SBC, said: “The INFINITY is about blending high-level business networking with unforgettable experiences, and bringing someone of Alok’s caliber to the stage takes that to a whole new level. I’m proud that we’re able to deliver this kind of energy and entertainment to our attendees.” Alok rose to global fame with his breakout hit ‘Hear Me Now’ —now nearing 850 million streams on Spotify—and has since become a trailblazer in the Brazilian Bass genre. Ranked 4th in DJ Mag’s Top 100 DJs for three consecutive years (2021–2023), he commands a massive global following with nearly 22 million monthly listeners on Spotify and 29 million Instagram followers. In addition to headlining some of the world’s biggest festivals, including Tomorrowland, Ultra Music Festival, and Lollapalooza, Alok has collaborated with international stars such as Dua Lipa, Jason Derulo, and Ed Sheeran. His influence extends into gaming culture as well, with his inclusion as a playable character in the hit game Garena Free Fire . Beyond the stage, Alok is a passionate philanthropist and the founder of the Alok Institute , which supports educational programs, environmental preservation, and social impact projects across Brazil. He also champions the next generation of artists through his labels Controversia Records and UP Club Records —platforms dedicated to discovering, nurturing, and promoting emerging talent in the electronic music scene, both in Brazil and internationally. With accolades such as Forbes Brazil’s 30 Most Influential Brazilians and Spotify’s Top 100 Global, Alok is the ideal artist to headline SBC’s second INFINITY experience, according to Sojmark. “The INFINITY brand was born in Lisbon. It’s where we dared to try something different, hosting our first-ever EDM-style festival with massive names like Don Diablo, Miss Monique, and Darude. The energy that night was off the charts, and it confirmed what we already felt: we had created something truly special for the industry,” he said. The INFINITY Lisbon is the grand finale of SBC Summit, the industry’s fastest-growing global event uniting 30,000 professionals across betting, gaming, payments, and affiliation. After making the move from Barcelona, Lisbon’s second edition is gearing up for an even bigger return this September 16-18. Sojmark added: “Funny enough, Alok was originally set to headline the INFINITY Rio, but plans shifted—and now it feels even more right to have him take the stage in Lisbon, where this whole journey began. It’s going to be one hell of a night.” Asked about his vision for the INFINITY brand, the SBC CEO said: “I see it as a thank-you to our community—a celebration for those who believe in SBC and the connections built at our events. Experiences like this strengthen those bonds. That’s the power of joy, and that’s the essence of The INFINITY brand.” The INFINITY Lisbon is an exclusive experience reserved for VIP Event Pass holders. Secure yours now for just €400 and take advantage of a €200 early bird discount. Operators and affiliates can apply for complimentary VIP Event Passes. Read related article: DJ Megastar Alok to Headline SBC Summit Rio 2025 in Brazil

Decree 147, which comes into effect on Christmas day, December 25, will prohibit online casino-like games in Vietnam. Vietnam is set to introduce a new regulation that tightens its grip on online gaming and card-based games.  Decree 147, which comes into effect on Christmas day, December 25, will prohibit online casino games, while streamlining processes for online gaming service providers, as reported by Asia Gaming Brief.  The decree also imposes stricter regulations on unlicensed and cross-border games, requiring clear labeling for approved titles. Cross-border app stores must either block or remove unapproved games and adhere to Vietnam's payment regulations, Vietnamnet reports.  Furthermore, foreign entities offering gaming services in Vietnam, including cross-border platforms, must establish local operations and comply with Vietnamese law. To safeguard minors online, gaming companies, internet service providers, and telecommunications firms must implement stricter controls. Minors under 18 years old will be limited to one gaming session of no more than 60 minutes per day, with a total daily limit of 180 minutes. Vietnam's casino industry has experienced significant growth since the 2017 decree that legalized its operations. While this sector has made substantial contributions to the national economy, experts contend that certain gaps in the existing legal framework may impede long-term growth and effective management. A study conducted by Nguyen Thanh Minh Chanh and Vuong Thi Thu Thuy from the Industrial University of Ho Chi Minh City's Faculty of Law, which was also reported by Asia Gaming Brief, highlights several issues, such as unclear investment registration requirements, ambiguous licensing conditions, and inconsistent operational regulations. These inconsistencies create challenges for both businesses and regulators. The study believes that address these challenges, a comprehensive legal framework for casino activities is necessary. This framework should include clear development strategies, comprehensive planning, and effective resolution mechanisms for conflicting legal provisions. By implementing these measures, Vietnam can ensure that its casino industry continues to contribute positively to the nation's economic growth. Controversies beyond online gambling restrictions Beyond online gambling, the impending law is receiving scrutiny, as cross-border and domestic social media platforms have to authenticate its user accounts through their mobile phone numbers, which the government argues can prevent scams.  “Mandatory authentication of users’ social media accounts via mobile phone numbers is a measure to prevent anonymous people from scamming, spreading fake news, or committing other illegal acts,” Le Quang Tu Do, director of the Department of Radio, Television, and Electronic Information, under the Ministry of Information and Communications, said as reported by tuoitrenews, an English daily based in Vietnam.  Children younger than 16 should have their social media accounts registered through their parents as well.  Vietnam.NET reported that linking accounts to verified information would encourage users to be more mindful of their online behavior. This accountability, he explained, would deter the spread of misinformation, fake news, and harmful content often associated with anonymous or fabricated accounts. "By requiring account authentication, we aim to foster a more responsible online community," Vu Ngoc Son, NCS Technology Director, stated.  "Users will be more hesitant to share inaccurate or unverified information, knowing that they could face legal and social consequences." Read related article: 960K Indonesian Students Gamble Online: Gov’t Data

Macau casinos reported MOP18.438 billion (US$2.3 billion) in gross gaming revenues (GGR) for November 2024, a 14.9% year-on-year increase. The gaming industry of Macau continues to rebound with impressive results, as the latest figures for November 2024 show a significant boost in casino revenues. The Gaming Inspection and Coordination Bureau reported that Macau’s casinos generated MOP18.438 billion (US$2.3 billion) in gross gaming revenues (GGR) in November 2024. According to a Macau Daily Times report, this figure reflects a year-on-year increase of 14.9% compared with the same month last year. This surge in GGR comes as the city’s casino industry shows steady growth following the global pandemic. With a cumulative total of MOP208.58 billion in gaming revenues for the first eleven months of 2024, the sector is just MOP1.42 billion shy of meeting the government’s full-year forecast. The performance in November marks a 26.8% increase over the same period last year, suggesting a robust recovery and renewed confidence in Macau’s gaming sector. Historically, November and December have been strong months for Macau’s casinos, often yielding similar levels of revenue. Last year, December posted MOP18.57 billion in GGR, making it the second-highest revenue month of 2023, following October’s record of MOP19.5 billion. With this in mind, industry experts anticipate that the revenue for December 2024 could mirror or even surpass November’s result, potentially pushing the year-end total to around MOP227 billion. If this pattern holds, it would represent a substantial recovery for Macau’s casino sector, which struggled during the height of the COVID-19 pandemic when travel restrictions and lockdowns led to a sharp decline in tourist arrivals. The return of international visitors, particularly from mainland China, has been a key factor in the recovery, driving casino revenues back to pre-pandemic levels. A Conservative Forecast for 2025 Despite the strong performance in 2024, the outlook for next year remains cautious. Late last month, Lei Wai Nong, Macau’s Secretary for Economy and Finance, defended the government’s 2025 gaming revenue forecast of MOP240 billion. During discussions about next year’s government budget, Lei stated that this projection is based on a projected growth percentage for the gaming industry, along with an estimated 9% increase in inbound tourism for 2025.  Lei did not go into detail about how the government arrived at these numbers, but the projection has raised some concerns among lawmakers. While some viewed the figure as “very conservative,” others questioned whether it accurately accounts for regional competition and other external factors that could impact Macau’s gaming revenues. Several lawmakers expressed doubts about whether Macau’s casinos could sustain the current growth rates, given the competition from other gambling hubs like Singapore and the potential impact of external challenges such as economic fluctuations or political tensions. Analyst Opinions on Government Estimates While government projections remain cautious, outside analysts are slightly more optimistic. Citigroup analysts, for instance, suggested that the government’s estimate of MOP240 billion for next year could be too low. In a recent report, the analysts predicted that the gaming sector might generate closer to MOP243 billion in 2025, reflecting the ongoing recovery in the tourism sector and stronger-than-expected demand for gaming. Citigroup’s analysts pointed out that the government has historically applied conservative estimates when forecasting GGR, often erring on the side of caution. However, they noted that the growth seen in 2024 and the projected increase in visitors could provide a stronger-than-expected push for the industry in the coming year. Key Drivers of Growth One of the primary drivers of growth in Macau’s gaming industry has been the resurgence of Chinese visitors. Since China eased its COVID-19 restrictions earlier this year, an increasing number of mainland tourists have flocked to Macau, lured by its casinos, luxury hotels, and entertainment options. The return of these tourists has helped fill casino floors and boost overall revenue. Additionally, the expansion of non-gaming offerings in Macau has also played a role in diversifying the city’s appeal to tourists. With a focus on luxury retail, high-end restaurants, and live entertainment, Macau is positioning itself not only as a gambling hub but as a broader entertainment destination. This shift is particularly appealing to younger tourists and those who may not be as interested in traditional gaming. Long-Term Industry Trends Looking ahead, analysts are divided on whether Macau’s casino industry will be able to maintain its current momentum. While the growth in GGR is encouraging, there are concerns that the market could face saturation in the coming years as competition in the region intensifies. Singapore, for example, has emerged as a strong competitor, with its integrated resorts attracting both tourists and investors. Other countries in the Asia-Pacific region, such as Japan, are also considering the legalization of casinos, which could further challenge Macau’s dominance. Moreover, the broader global economic climate could also impact the casino industry. If there are slowdowns in major markets such as China or economic disruptions that affect disposable income and consumer spending, it could hurt tourism and gaming revenues in Macau. Despite these uncertainties, the near-term outlook for Macau’s casinos remains positive. As long as the tourism recovery continues and the government adapts to regional competition, the city’s gaming sector could continue to see strong revenues in the coming months and years. Macau’s gaming industry has demonstrated a remarkable recovery in 2024, with strong monthly results driving the sector toward record-breaking revenues. As the year draws to a close, all eyes will be on December’s performance to see if it can match or exceed November’s results. However, questions remain about the sustainability of this growth, with some analysts and lawmakers expressing concerns about external factors and regional competition. The government’s conservative forecast for 2025 suggests a cautious outlook, but with international tourism on the rise and the continued appeal of Macau’s entertainment options, the gaming industry could see further gains in the coming year. Read related article: Macau Forecasts $29.7 Billion in Gaming Revenue for 2025

PAGCOR CEO Alejandro Tengco says their Casino Filipino venues could generate as much as P50 billion (US$847.8 million) when the privatization process begins. The Philippine Amusement and Gaming Corp (PAGCOR) is set to roll out nearly 2,000 modern slot machines across its Casino Filipino branches by the middle of December 2024. This move is part of the government-owned corporation's ongoing efforts to modernize its gaming operations. Alejandro Tengco, PAGCOR's chairman and CEO, confirmed the first batch of machines, consisting of 1,968 units, was already delivered and will go live in the coming weeks. Tengco disclosed that these new slot machines are part of a broader plan to upgrade the Casino Filipino network, which includes more than 40 land-based casinos and "satellite casinos" that operate in leased venues. The slots, purchased from the casino equipment supplier RGB International Bhd, are set to enhance the gaming experience for both local and international players at PAGCOR's properties. The machines represent the first batch of a total order of 3,000 slot machines, part of a modernization initiative aimed at revitalizing the Casino Filipino brand. The total value of this initial contract is over US$81.3 million, which includes a variety of electronic gaming machines from well-known third-party brands. These include 888 units from Light & Wonder, another 888 from Aristocrat, 150 units from Konami, and 42 units from KL Saberi. Tengco emphasized that these new machines are part of a broader strategy to improve the quality of Pagcor's gaming offerings before the agency moves forward with plans to privatize its casinos in the near future. “The first batch has been delivered and will be going live in the middle of December,” Tengco was quoted as saying in an interview with GGRAsia.  He added that the second batch of machines is expected to be deployed in the early part of 2025. This modernization is part of a long-term plan to improve PAGCOR’s land-based operations before transitioning its focus to regulatory work. According to Tengco, PAGCOR intends to privatize its network of Casino Filipino venues by 2026, with the privatization process expected to start in 2026, not mid-2025 as originally anticipated. The privatization plan follows a decision by PAGCOR to eventually phase out its role as an operator of casinos. This shift would allow the agency to focus more on its regulatory functions while potentially raising significant capital from the sale of the land-based operations. Tengco noted that PAGCOR's Casino Filipino venues could generate as much as P50 billion (US$847.8 million) when the privatization process begins. The planned transition comes with the need for amendments to PAGCOR's charter, which would enable the privatization of the agency's gaming properties. Tengco explained that the agency is already working on the necessary amendments, which are expected to be finalized by next year. "Next year will be allocated for the amendments," Tengco said, noting that the government will need to update the agency's legal framework to move forward with the privatization process. The sale of PAGCOR's land-based casinos has been a topic of discussion for some time. In March 2023, the government revealed plans to sell the Casino Filipino network in a bid to raise funds and shift Pagcor's focus to its core regulatory duties. The move is expected to help Pagcor streamline its operations, reducing the agency's role in day-to-day casino management, while also bringing in much-needed revenue for the government. Although the privatization timeline has been adjusted over the past year, with initial estimates placing the sale in 2025, Tengco's recent remarks indicate that the privatization process will take longer than initially expected. With PAGCOR's charter requiring amendment, the shift to a regulatory-focused entity will likely take time to implement. Read related article: PAGCOR Seeking Partner for Online Casino Launch in 2025