Thai Prime Minister, Who Led Push for Casinos, Ousted
In a stunning development Aug. 14, Thai Prime Minister Srettha Thavisin was removed from office, charged with a breach of ethics.
Srettha was dismissed for appointing a cabinet member who once served time in prison. Pichit Chuenban was a close aide to former prime minister Thaksin Shinawatra. In 2008, he was convicted of attempted bribery and spent six months behind bars. A Bangkok court ruled that Srettha was “well aware” that Pichit “seriously lacked moral integrity.”
Since taking office last August, Srettha made it his mission to boost Thailand’s flagging economy through tourism and foreign investment. He was an ardent supporter of “entertainment complexes,” casino resorts with hotels, dining, and other non-gaming amenities.
Analysts said the resorts could draw more than $10 billion in new investment and create thousands of new jobs. One study suggested that casinos would raise average tourist spend by 52 percent.
Aussie PMs, Others Support Ban on Gambling Adverts
Australian leaders including former prime ministers and sports figures have joined a campaign to stop gambling ads. In an open letter to the government, they supported passage of “Murphy’s Law” to ban the ads, televised and online.
The legislation is named for late MP Peta Murphy, who chaired the Federal Inquiry into Online Gambling. The letter contends “Australia has a gambling addiction,” with players losing AU$25 billion (US$16 billion) a year. It claims the activity comes with “devastating” social harms including financial loss, mental health issues and family trauma.
Murphy’s Law advocates “a three-year, phased-in ban” on ads as well as “inducements and promotions,” especially around sports betting. A compromise version of the original ban would cap the ads at two per hour until 10 p.m. on television. It also would ban ads one hour before and after live sports broadcasts. Online advertising would be totally banned.
Macau Moves to Criminalize Illegal Money Exchanges
Authorities in Macau have announced a legislative amendment that would criminalize illicit currency exchanges inside the city’s casinos.
In June, Macau’s Ministry of Public Security launched a crackdown on the exchanges, which help gamblers sidestep Beijing’s strict capital controls. Officials linked the operations to fraud, thefts, money laundering, loan sharking—even kidnapping and murder.
On Aug. 9, just days after the presumed murder of a man involved in the trade, the ministry proposed the amendment. The victim was discovered in a Cotai hotel room, dead from stab wounds to the head and neck. Two suspects, also reportedly involved in the illegal enterprise, were arrested shortly thereafter.
Bali Nixes Casino Plan
Officials in Bali have turned thumbs-down on a casino plan that proponents say could transform the impoverished Buleleng Regency area.
Agung Bagus Pratiksa Linggih, chairman of the Indonesia Young Entrepreneurs Association, is spearheading the idea. He says a casino would fund improvements in infrastructure, waste management and traffic management. He estimates a resort development could generate up to Rp13 trillion (US$820.95 million) for the local economy.
Indonesian Minister of Tourism and Creative Economies Sandiaga Uno rejected suggestions that the government is open to a casino development. He told reporters, “There is no such thing as plans for building a casino. So just say straight away that there is no such plan.”
Sri Lanka Casino a Go
In July, Golden Island Hospitality Ltd. and Majestic Group Hotels and Casinos inked a deal to develop a casino in the Sri Lankan capital of Colombo. The Ministry of Finance granted a gaming license to Golden Island under the Casino Act of 2010.
The Majestic Pride Casino will be based at the iconic Lotus Tower, Sri Lanka’s tallest skyscraper. The development partners say it will become a premier tourist destination and create jobs for local youth.
Philippine Gaming Revenues Spike in Q2
The Philippine gaming industry recorded strong revenues for the second quarter of 2024. According to the Philippine Amusement and Gaming Corp. (PAGCOR), GGR for the period rose 32.32 percent, to P89.23 billion (US$1.563 billion). Quarter-on-quarter, GGR was up 9.21 percent.
Electronic gaming saw a staggering 525 percent increase year-on-year, to almost P31 billion. PAGCOR chief Alejandro Tengco said e-games may help compensate for “shortfalls resulting from the president’s order banning offshore gaming operations.”
In July, President Ferdinand Marcos Jr. banned Philippine Offshore Gaming Operations, or POGOs.
Macau: Melco CEO Ties Softer Revenues to Seasonality
On a Q2 earnings call Aug. 13, Melco Resorts CEO Lawrence Ho was unconcerned about softer gaming revenues in Macau this summer. The city’s casino industry saw upticks in GGR for June and July, but fell short of analysts’ median projections.
Ho attributed the shortfalls to the month-long Euro Cup and Chinese school holidays, which started later than usual. “So parents (wanted) to stay home and make sure the kids are done with final exams before they travel.”
