Search Results

Agoda CEO Omri Morgenshtern sees Thailand’s first legal casino gambling resorts boosting tourism, with a projected 40 million visitors in 2025.  Omri Morgenshtern, the CEO of global online travel agency Agoda, shared his optimistic views on the potential impact of Thailand’s first legal casinos. During a November 6, 2024 media event in Bangkok, Morgenshtern told Reuters that he believes that the development of casino resorts could significantly enhance Thailand’s tourism industry. His comments come as the country is on track to achieve a record number of visitor arrivals in 2025, with a projected target of 40 million tourists. Morgenshtern emphasized that casinos are more than just gambling hubs—they create an entire entertainment experience, which is key to drawing visitors. He pointed to major global destinations like Macau and Las Vegas as examples, where casinos are typically part of a larger package that includes luxury hotels, top-tier restaurants, entertainment shows, and a variety of leisure activities. According to Morgenshtern, this comprehensive experience is something that could be a game-changer for Thailand’s tourism sector. “It’s the experience around gambling,” Morgenshtern said. “Think about Macau and Vegas—usually it comes with crazy shows, food, and amazing hotels.” He added that the appeal of casino resorts lies not just in the gambling itself but in the overall atmosphere they create. He also noted that such resorts do not experience the same seasonality as other types of tourist attractions. While places like amusement parks or museums may see fluctuations in visitor numbers depending on the time of year, casino resorts can operate year-round, making them a valuable asset to boost tourism even in Thailand’s off-peak seasons. In addition to casinos, Morgenshtern suggested that Thailand could further enhance its tourism appeal by adding attractions like amusement parks and family-oriented activities. These additions, he argued, would provide more options for travelers, particularly those with children, ensuring that Thailand becomes an even more attractive destination for a wide range of tourists. Thailand is aiming for 40 million visitors in 2025, a target that, if achieved, would surpass the previous record of 39.9 million tourists set in 2019. As of the first 10 months of 2024, Thailand has already seen a 29% increase in foreign visitors compared to the same period last year, with the number of arrivals on track to reach 36.7 million by the end of 2024. Morgenshtern is confident that the country will meet or even exceed its target for 2025, barring any unforeseen disruptions. “Unless there’s an external event that we can’t foresee and unless we do something wrong, I think there’s a chance we’ll cross the 2019 number of tourist arrivals into Thailand,” Morgenshtern told Bloomberg. “Our data suggests that Thailand is very addictive. About 46% of travelers that we see are coming for a second or third or fourth time.” This return rate reflects the country’s growing popularity as a travel destination, with many visitors returning for repeat vacations due to the diverse offerings and vibrant tourism landscape. Thailand’s government is already making moves to bring casinos to the country. The “entertainment complex” bill , which is expected to pass through parliament early next year, will lay the legal groundwork for the development of casino resorts. The bill aims to create integrated entertainment venues that could include a variety of attractions, such as hotels, restaurants, nightclubs, and, of course, casinos. There is currently no decision on where these complexes will be located, but suggestions have included up to five integrated resorts (IRs), with up to three of them possibly located in Bangkok. The draft bill stipulates that those awarded licenses to operate the resorts would initially receive a 30-year license, which would be subject to review every five years. The bill also outlines 10 different types of businesses that could be part of the integrated entertainment venues. These include department stores, hotels, restaurants, nightclubs, stadiums, yacht clubs, swimming pools, amusement parks, areas for promoting Thai culture, and other types of businesses as specified by the Policy Committee. One of the key elements of the proposed bill is the introduction of an entry levy for local residents. The draft legislation suggests that Thai nationals will be required to pay an entry fee of no more than 5,000 baht (US$148) to access the casino resorts. This levy is expected to help manage the flow of visitors and ensure that the casinos remain focused on attracting foreign tourists while also limiting potential negative social impacts.

Macau authorities and the city's six casino concessionaires are in talks on enforcing the new illegal gambling law. Authorities in Macau and the city’s six casino concessionaires are currently in talks on law enforcement under the new illegal gambling law. The law, which came into effect at the start of November, targeted illegal money exchange activities and expanded investigative powers to combat related crimes. Macau’s new illegal gaming law has led to increased enforcement actions. Among these incidents include the arrest of a 40-year-old man for suspected illegal currency exchange linked to gambling. He was found in a private room, where he presented a QR code and exchanged HKD21,000 in gaming chips after a payment was confirmed. Investigations revealed the suspect profited HKD80 per HKD10,000 exchanged. In the operation, authorities seized HKD25,900 in chips, HKD500 in cash, and the mobile phone used. Inside Asia Gaming reported that the Gaming Inspection and Coordination Bureau (DICJ) and Judiciary Police (PJ) held meetings with concessionaires to bolster collaboration against illegal activities, including money-exchange gangs. Sweeps, such as one held in Cotai on November 1, 2024, found no illegal exchanges but underscored law enforcement’s growing presence. A total of 146 individuals were stopped and checked in the operation. This law criminalizes money exchange for gambling, with penalties including prison terms. It also empowers undercover operations, enhancing regulatory oversight. About Macau’s Illegal Gambling Law  Macau's enhanced illegal gambling laws, officially known as the "Law on Illegal Gambling Activities," were enacted on October 29, 2024. These new laws aim to strengthen the fight against illegal gambling activities, particularly focusing on stricter penalties, expanding the definition of illegal gambling, and enhancing investigative powers.  The passage of the new law comes at a time when Macau's gaming industry is facing increasing pressure from both domestic and international regulators. The government is keen to ensure that the industry operates in a fair and transparent manner, and the new law is seen as an important step in achieving this goal. The law imposes harsher penalties for a variety of illegal gambling-related offenses, including illegal lending for gambling, operating illegal currency exchange for gambling, and unauthorized credit for gambling. Additionally, the law expands the definition of illegal gambling to include unauthorized online gambling, mutual betting, and unauthorized games of chance. The law also grants authorities increased powers to investigate and prosecute illegal gambling activities. These powers include the ability to conduct night-time searches and undercover operations, one of which being the operation in Cotai last November 1.  Implementation and Early Impact: While the law is relatively new, authorities and industry stakeholders have already taken steps to implement it. Key developments include joint efforts, increased surveillance, and public awareness.  The law also grants authorities increased powers to investigate and prosecute illegal gambling activities. These powers include the ability to conduct night-time searches and undercover operations. The passage of the new law comes at a time when Macau's gaming industry is facing increasing pressure from both domestic and international regulators. The government is keen to ensure that the industry operates in a fair and transparent manner, and the new law is seen as an important step in achieving this goal. The Judiciary Police, the Gaming Inspection and Coordination Bureau (DICJ), and representatives from six gaming companies have convened to discuss strategies for implementing the new law.   Joint patrols have been conducted in casinos to monitor for illegal activities, particularly unauthorized currency exchange.    Meanwhile, efforts are being made to educate the public about the new law and its implications. It's important to note that the full impact of the new law will take time to assess. However, the early signs indicate a concerted effort by authorities to combat illegal gambling and maintain Macau's reputation as a regulated gaming hub

NUSTAR, now ranked 6th among the largest casinos in Philippines by GGR, reached this milestone just two years after its May 2022 opening. NUSTAR has climbed to sixth place among the top Philippine casinos in terms of gross gaming revenue (GGR), an achievement it reached in just two years since it officially opened in May 2022. The Gokongwei Group’s P30-billion investment in NUSTAR Resort and Casino has already made a major mark in the Philippine gaming and hospitality industry. It is quickly emerging as a strong competitor to the more established casino resorts in the country. NUSTAR is part of a broader plan by the Gokongwei Group to diversify its portfolio. The resort marks the conglomerate’s first venture into the gaming and entertainment sector. Trevor Hammond, NUSTAR’s Senior Vice President for Gaming and Integrated Resort (IR) Operations, expressed his pride in the resort’s rapid success. “We’re only two years old, and if you look at the comparison to the larger hotels in Clark, I know they’ve been operating for over 10 years; we’re hot on their heels. What they did in 10 years, we’ve done in two years,” Hammond was quoted as saying in a report published by the Philippine Star. According to Inside Asian Gaming, based on 2023 data from Philippine Amusement and Gaming Corporation (PAGCOR), the largest casino in the Philippines is Solaire Resort, which earned a staggering P61 billion in GGR in 2023. Okada Manila follows with P44.5 billion, while Newport World Resorts and City of Dreams earned P34.3 billion and P31.7 billion, respectively. Hann Casino Resort in Clark earned P11.9 billion last year. By contrast, NUSTAR recorded P5.5 billion in GGR for 2023, which is notable given that construction work around the property continued throughout much of the year. Despite these figures, Hammond remains confident about NUSTAR’s trajectory. The casino is already attracting both local and international visitors, with a growing number of foreign tourists from South Korea, who account for approximately 40% of NUSTAR’s international clientele. As the first integrated resort in the Visayas and Mindanao, NUSTAR is uniquely positioned to cater to high-end tourists from regions outside Metro Manila, and its strategic location in Cebu has contributed to its success in the past two years. One of NUSTAR’s main draws is its expansive gaming area, which spans 21,000 square meters, offering a wide variety of table games, slot machines, and other entertainment options. The resort also boasts luxury accommodations, dining, and leisure facilities, including the Fili Hotel, which features 379 rooms. But NUSTAR’s ambitions do not stop in Cebu. Hammond hinted at the possibility of expanding the resort’s footprint beyond the Visayas, with potential plans for a new property in Clark, Luzon. While the expansion is still in the early stages, he emphasized that the group is actively exploring opportunities for future growth. “I think if the opportunity presents itself, it would be wise to try to spread the gaming footprint across the Philippines,” Hammond explained. “With the success of NUSTAR, we can see that we’ve got the expertise and the foresight to be able to do something similar elsewhere. So, we’re constantly looking around for sure.” The plans for expansion are in line with the growing gaming industry in Asia, and NUSTAR’s ability to generate solid revenue so quickly has demonstrated the market’s potential. As part of its long-term strategy, NUSTAR aims to open additional upscale hotels and services to keep pace with its expanding customer base. Roel Constantino, the General Manager for Hotels at NUSTAR, revealed plans for a new ultra-luxury hotel to open by the end of 2024. This will be followed by the opening of the Grand Summit Hotel in 2027, which will bring the resort’s total number of hotel rooms to 958, making it the largest hotel complex in Cebu. This expansion further solidifies NUSTAR’s standing as a key player in the region’s hospitality market.

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.