Gambling News from Asian Markets: Is Land-Based Gaming a Current Trend?
THAILAND TO INTEGRATED GAMBLING INTO ITS ECONOMY
Before players from Thailand start getting excited about the possibility of legal online gambling in the country, we should state that the upcoming changes will influence land-based types of this entertainment. However, it is still a big change for tourists and those locals who dwell near resort areas.
Following the steps of Singapore, the Thai government plans to introduce resorts with a full package of betting entertainment. This means that casinos should appear in hotels and be available to all the visitors of a resort. They should contain the most popular genres of gambling: numerous reeled machines and live dealer entertainment.
How It Might Look Like?
Those companies that would like to be present in the hotels should receive a license issued for 20 years with a possibility of prolongation (for another 10 years). They would also pay a 17% tax from Gross Gaming Revenue.
What is interesting is that only a limited number of companies can obtain a license to offer betting entertainment on the integrated resort (IR). Thus, we expect quite fierce competition.
A Wind of Change
What looked like a solved matter in August (over 90% of parliamentarians supported the idea) seem to be under question in September and the future of IR remains obscure. The prime minister, who led the charge for the introduction of gambling entertainment on resorts, has recently been removed, and his successor questions the necessity of casino integration into the tourist industry. As a result, benefits of this initiative goes to the background, and the press discusses potential risks and drawbacks. The increase in gambling addiction might evoke a necessity to develop responsible practices for this entertainment. Another major concern is that IR might be used for money laundering.
Well, we will continue to monitor Thai news on this topic. However, according to prognosis, even if approved, such integrated resorts might emerge no earlier than 2029. Thus, there is plenty of time for changing public opinion about IR to ensure economic growth in the country.
JAPAN TO PURSUE ILLEGAL OFFSHORE GAMBLING
Japanese players became more interested in gambling after the Covid pandemic, so this kind of entertainment surged drastically in the country even though gambling in Japan is limited to lottery and horse racing. Other types of betting are illegal, so Japanese gambling go to international websites to enjoy betting. Some of such brands that allow users from this country are RocketPlay, and VideoSlots.
The Japanese government is clearly dissatisfied with such a state of things, and it plans to conduct an investigation against those online operators that tailor its services for Japan and create an illusion for Japanese customers that placing bets is legal.
However, this measure can be just the first step before the legalization of gambling entertainment in the country. Japanese players can expect to have the first onshore casino opened in 2030. It should be Osaka Casino based on the resort associated with Osaka IR. The company has waived its right to withdraw the project without penalty, so Japanese gamblers can have high hopes of being able to wager at legal operator licensed by their government
Some other countries that have already successfully launched regulated gambling markets have recently announced changes in the legislation to make gambling more accessible, safe, and responsible for players. Some of those will certainly contribute to the establishment of positive habits and emotions control for sensible decisions in gambling, while others might not have that good impact. Let's take a closer look at what changes for Asian players.
Vietnamese Gambling Trial
Launched in 2019 and expected to end in 2022, the gambling trial that allows Vietnamese players to gamble at regulated casinos is prolonged until the end of 2024. For now, the permit to accept Vietnamese citizens has only one casino in the country. It is Phu Quoc casino in Kien Giang.
The trial period is a sort of a test initiated by the Vietnamese government to explore the potential of making gambling legal for citizens. This country has a long history of gambling ban, so slots and other types of casino entertainment were prohibited. Just recently, the government has allowed this type of entertainment for foreigners and tourists, and several casinos have already been licensed in the country.
As Vietnamese players still managed to gamble at international casinos, the government decided to start a pilot project with Phu Quac, the operator that accepted Vietnamese citizens. This casino is one of the top-rated in Asia, and it has become the first operator licensed in Vietnam. It is a part of the 5-star resort complex. Casino works 24/7 offering an impressive variety of entertainment that includes over a hundred tables and more than a thousand slot machines.
Casino Control Act Changes in Singapore
The government of Singapore has announced the main changes to the Casino Control Act to ensure responsible gambling and target compulsive gambling activity among players.
One of the most important changes that have a major influence on gamblers is the levies fixed on S$150 daily and S$3,000 yearly. Thus, levies that were introduced in 2019 to fight against compulsive gambling should become slightly higher and give players more chances to wager and win.
While levies become less strict, Family Visit Limit should be treated more seriously by players, as it now becomes a punishable offense. Thus, the person, who is excluded and decides to play at a casino, can be fined up to S$10,000 or get in jail for up to 12 months. This program was launched for relatives of a compulsive gambler who suffer from his or her behavior in financial, emotional, or any other way.
UAE Issued Its First Commercial Gambling License
Not only Thailand and Vietnam make attempts to integrate gambling industry into its economy through luxurious resorts, but the United ArabEmirates as well. The General Commercial Gaming Regulatory Authority (GCGRA) issued its first commercial gambling license. It was granted to Wynn Resorts, the company that had brought to life several successful resort projects. The Wynn Al Marjan Island Resort, located in Ras Al Khaimah (RAK), UAE is already under construction, and that is where the first licensed land-based casino will be located.
The resort should start accepting tourists in 2027. Given it is located not far from Dubai and two international airports, the resort is ready to accept over thousands of visitors at once, as there are 1,000 rooms. Gaming floor is among the available entertainments, and it should include plenty of slot machines and tables for roulette, baccarat, blackjack, and other popular games.
Casino Capitalism Continues in Macau
Macau remains claiming that little will change in this aspect, and major resorts that offer casino entertainment should continue to contribute to Macau’s culture and economy. This statement of the sole candidate for Macau chief executive Sam Hou Fai allows the resort owners to rest assured that their business will continue to thrive after a certain tension caused by previous statements of Sam.
As gambling is an essential part of Macau's economy, the government will support the healthy and orderly development of the six major resorts that provide gambling activities, namely MGM Resorts, Wynn Resorts, the Las Vegas Sands Corporation, SJM, Galaxy Entertainment and Melco Resorts.
In their turn, the “big six” agreed to play their part and invest a collective MOP130bn (€14.6bn) into spheres that are not related to gambling, mainly into urban renewal and cultural attractions. In this way, a diversified development of Macau will be implied.
As you can see, Asia is certainly a prospective region for gambling activities, and this tendency will be the leading one in the upcoming decade. So far, legal gambling is mostly focused on land-based entertainment that does not go beyond resorts, so online gambling is still a “gray zone” in many markets, including Vietnam, Japan, the UAE, and Thailand. Therefore, gamblers who would like to benefit from a modern online betting opportunity still have to seek offshore online casinos that accept customers from their home countries. This leads to big economic losses for those Asian markets, so we can expect that the policies related to online gambling on many markets of the Asian region might be reviewed in the future.
