Genting Pledges ‘Transformation’ After RWS License Term Cut Short
The Singapore Gambling Regulatory Authority (GRA) announced Nov. 18 that it had renewed the gaming license for Resorts World Sentosa, one of two integrated resorts (IRs) in the city-state. But the license is only good for two years, a year short of the typical three-year term.
The GRA based its decision on poor post-Covid performance. An independent panel determined that from 2021 through 2023, the IR failed to “develop, maintain and promote its integrated resort as a compelling tourist destination that meets prevailing market demand and industry standards.” The GRA added that RWS still needs “rectification and substantial improvement,” according to the Straits Times.
The renewal will take effect on Feb. 6, 2025. The panel recommended that the next evaluation take place in 2026.
Responding to the news, RWS operator Genting Singapore said “RWS continues to accelerate its transformation to refresh and rejuvenate existing offerings to deepen its destination appeal and visitor experiences.” RWS’ new $6.8 billion waterfront lifestyle complex will add two luxury hotels and grow the property footprint by 50 percent.
Goa, India Launches iLottery
Goa, India, known as the Las Vegas of India, has launched the country’s first fully digital lottery. Ticket sales for Great Goa Games began Nov. 18, with the first draw scheduled for Nov. 24, according to the India Times.
The state government licensed Rhiti Group to operate the games. Group founder Arun Pandey told Mediabrief that the new lottery will give players “a secure and convenient way to engage in state-approved lotteries.” The app-based platform was sanctioned by the Directorate of Small Savings and Lotteries in the state of Goa. “Our mission,” he said, “is to democratize opportunities through technology.”
In a 2024 white paper, the not-for-profit Pahle India Foundation (PIF) decried the industry’s failure to keep up with the times and its ongoing reliance on paper tickets and physical retailers.
“Paper-based lotteries are prone to issues such as loss of tickets during transportation, sale of defective or fake tickets, and the difficult and arduous task of maintaining records of tickets (sold, unsold, and defective),” the paper said. “Rapid penetration of smartphone and access to cheap data could be the key drivers to digitalization of the lottery sector. PIF valued lottery revenue at $33 billion annually with taxes at $12 billion.
Thailand Could Pass Casino Bill in Early 2025
Thailand’s entertainment complex bill is expected to clear the cabinet by the end of 2024 before moving on to the House of Representatives and Senate early next year.
The legislation, if approved in parliament, would allow casinos as part of full-service integrated resorts (IRs), like IRs in Singapore and Macau. Each resort complex would include at least four non-gaming attractions: hotels, stadiums, concert halls and theme parks as well as restaurants, clubs and retail corridors.
“The law should be passed in six months from now at the earliest,” Secretary-general Prommin Lertsuridej told Bloomberg News in a Nov. 15 interview. “So it should be next year to start.”
Lawmakers in the kingdom have indicated they want to open the first of at least five IRs by 2029. The return could be substantial: per Citigroup estimates, an established Thai gaming sector could reap annual revenue of $9.1 billion.
The nascent market has drawn the interest of “big investors with world-class experience,” Prommin said. “So many people have tried to talk with us,” he said. The list includes Macau operators Galaxy Entertainment Group, MGM Resorts International and the Las Vegas Sands Corporation.
Under the proposed legislation, license terms will be 30 years, renewable in 10-year increments. Lawmakers have proposed a 17 percent tax rate. Thai nationals will pay an entry fee to gamble. Foreigners may enter for free.
Philippine Gaming Revenues Up Despite POGO Ban
The Philippine Amusement and Gaming Corp. (PAGCOR), which regulates gaming in the country, announced that gross revenues reached PHP94.61 billion (US$1.6 billion) from July through September. That’s an increase of 37.52 percent over the same period in 2023.
According to the Philippine Inquirer, PAGCOR attributed the growth to electronic games. The category includes traditional and electronic bingo, electronic casinos, sports betting, specialty games and online poker.
“This impressive performance is a strong indication that the use of modern technology and mobile gadgets in gaming and amusement will continue to play a pivotal role in shaping the future of gaming,” said PAGCOR Chairman and CEO Alejandro Tengco in a statement.
The surge in e-gaming could compensate for the loss of Philippine Offshore Gaming Operations (POGOs), banned in July by President Ferdinand Marcos Jr. Marcos issued the ban after investigators discovered that some POGOs were fronts for online scams and money laundering. They also allegedly ran on the forced labor of trafficked workers, both foreign and domestic.
