Thai Prime Minister Pledges to Fight Illegal Online Gambling
In her first official visit to China since taking office last summer, Thailand Prime Minister Paetongtarn Shinawatra said her government would cooperate with Beijing in its fight against illegal igaming.
Chinese government spokesperson Lin Jian said Paetongtarn conferred with President Xi Jinping about “enhancing the fight against online gambling and telecom fraud.
“China is working with Thailand, Myanmar and neighboring countries” to identify and shut down illegal offshore operators, Lin said at a Feb. 7 press briefing.
Last year, Chinese police investigated some 73,000 cross-border gambling cases, “destroyed” more than 4,500 online gambling platforms, and detained more than 11,000 suspects.
According to crypto website Inside Bitcoins, Macau—the only place in China where gambling is legal—is using “advanced surveillance systems and forensic digital tools to track online communications and transactions in real time.”
Meanwhile, Thailand is weighing legislation that could introduce legal “entertainment complexes” with casinos, and possibly include an online gambling component. According to the Bangkok Post, Xi inquired about these plans and warned about the potential social costs.
Paetongtarn said the kingdom would proceed with caution, but also talked up the benefits. “If (gambling is) legalized,” she told reporters on Feb. 11, “revenue can be collected from them and used for national development projects.”
Back at home, opposition to the plan is mounting. Former prime minister Abhisit Vejjajiva calls gambling a “major social problem” that negatively affects gamblers and their families.
“This is dangerous,” Abhisit said at a recent seminar on the gaming legislation. “Online gambling, in particular, will have a negative impact on society by increasing household debts and consequently, crime rates.”
In a January report, the Phuket News cited a source close to the National Economic and Social Development Council who said the economic benefits of casinos may be overstated, as gaming revenue does not contribute to production.
Thai Sang Thai Party (TST) leader Khunying Sudarat Keyuraphan slammed the bill as “one of the worst pieces of legislation ever written. This is not about economic growth —it’s about opening the door to legalized gambling with little oversight.”
Following Lackluster CNY, Macau Casinos See Upturn
Macau casinos posted softer-than-anticipated results during the recent Chinese New Year (CNY) holiday (Jan. 29-Feb. 4).
Daily gross gaming revenue (GGR) came to MOP780 million (US$97.3 million), 1 percent down from the same period in 2024, and 8 percent under the 2019 benchmark.
In a Feb. 10 note, Jefferies Group analysts said post-CNY returns were “slightly better than the actual CNY performance,” with daily revenue of MOP822M through Feb. 9. They expect “the recovery to continue going forward” and projected GGR of MOP18.4-19.4 billion for the month, versus MOP18.5 billion in 2024 (a leap year, in which February had an extra day).
According to Macau Business, JP Morgan analysts DS Kim, Mufan Shi, and Selina Li agreed that “post-LNY GGR (was) better-than-feared at MOP725 million/day thanks to solid ‘tail-end’ demand, somewhat offsetting the weakness from LNY.” The team projects monthly GGR of MOP18.3 billion to MOP19.4 billion.
Meanwhile, the Macau government has forecasted full-year GGR of MOP240 billion, up 11 percent year-on-year.
Vietnam Casino Announces $1 Billion New Investment
Hoi An South Development Ltd. (HASD), developer and operator of Hoiana Resort & Golf in Hoi An, Vietnam, has announced “an estimated new investment of US$1 billion” for Phase 2 of its development. The luxury resort is in Quang Nam Province on Vietnam’s central coast.
The news follows the appointment of a new chief executive. In a Feb. 8 press release, HASD announced that Alan Teo, former COO of both Universal Hotels and Resorts World Sentosa, had replaced onetime CEO Stephen Wolstenholme.
“Alan’s appointment comes at a crucial juncture, as HASD continues to solidify its position as an industry leader within the hospitality industry in Vietnam,” the release stated. It noted that more than 225,000 people visited the resort in 2024.
In an interview with The Investor days before he stepped down, Wolstenholme said Quang Nam is “well-positioned to maintain its stature as a premier cultural heritage destination while unlocking new opportunities to attract high-value international travelers through premium, unique and experiential offerings.” He added that 2025 “represents a pivotal phase” in the resort’s growth strategy.
Malaysian Games Group Looks to Growth in Philippines
Phillip Capital Research says RGB International Bhd could post its best-ever quarter following a multimillion-dollar sale to the Philippine Amusement and Gaming Corp. (PAGCOR). In the third quarter of 2024, the Malaysian manufacturer delivered 1,969 electronic gaming machines (EGM) to the government regulator.
According to the Malaysian Star, PAGCOR paid $81million for the machines.
“For 2024 to 2026, we expect this strong momentum to persist, … primarily supported by a robust pipeline of resort openings in the Philippines and a growing replacement market,” the research group stated. “We also expect a blockbuster year for RGB, forecasting a 32 percent compounded annual growth rate in profit over the 2023 to 2026 time frame.”
RGB is the predominant distributor of EGMs in Asian markets, according to Phillip, with up to 80 percent of market share. The Philippines is its biggest customer.
