Macau Sees Spike in Gaming-Related Crime
For Q1, law enforcement in Macau filed 567 criminal incident reports, up 61.5 percent over the first quarter of 2024. Much of the increase has been linked to the recent criminalization of unlicensed currency exchanges.
Last June, Beijing launched a crackdown on illicit money changers, who help gamblers sidestep government controls on capital flight. Last October, the Macau Legislative Assembly passed legislation making violating rules on money exchanges a crime.
The Ministry of Public Security contends the exchanges facilitate money laundering and lead to “fights, fraud, thefts, illegal immigration and other crimes” including kidnapping and murder. Hence the amended Law on Combating Gambling Crimes, which includes prison terms of up to five years for offenders. Convictions could lead to a 10-year ban from city casinos.
The rise in criminal incidents occurred despite a drop in the total number of casinos, reported Macau Business, from 40 in 2019 to just 30 today. The surge in the use of money changers coincided with the shift in the VIP business, including the near-elimination of the junket trade.
China’s State Administration of Foreign Exchange now limits overseas withdrawals from Chinese banks to just CNY100,000 ($14,000) per year – pocket change for whales who don’t blink at playing $25,000 a hand.
Thai PM Proposes Budget, Eyes Stability Amid Trade Wars
On May 28, Thailand Prime Minister Paetongtarn Shinawatra proposed a multibillion-dollar budget designed to offset the impact of US tariff hikes on the economy.
Thailand Prime Minister Paetongtarn Shinawatra this week presented a THB3.78 trillion ($168.3 billion) budget she said will “revive and drive the economy towards sustainable growth while improving the quality of life for the people.
“Given the constraints on revenue and the global economic situation,” she said, “the government is pursuing a deficit policy to maintain economic stability.”
According to the Singapore Business Times, the budget projects a 0.7 percent rise in spending and a 0.7 percent drop in the deficit to TBH860 billion. It forecasts growth ranging from 2.3 percent to 3.3 percent, with inflation of 0.5 percent to 1.5 percent.
A February report by the National Economic and Social Development Council warned lawmakers to brace for policy shifts from key trading partners, especially the US, Thailand’s leading source of export goods. US tariffs could reach 36 percent if a deal isn’t made by the end of July.
Meanwhile, the Pattaya Mail reports that tourism in the country took a big dive after the March earthquake that killed more than 1,600 people. Potential visitors have also been scared off by the abduction of Chinese actor Wang Xing. In January, Wang travelled to Thailand to audition for a film. Instead, he was abducted and taken to Myawadday, Myanmar, a border town known as a hub of online scams, illegal online gambling and human rights abuses.
Wang was rescued, but the incident has shaken the confidence of Chinese nationals who make up most of the tourism trade to Thailand. To date, international travel to Thailand has dropped 1.04 percent year on year, a loss of almost 13 million visitors.
These factors may make Thailand’s controversial Entertainment Complex Bill more appealing to lawmakers. The legislation was designed to “increase the efficiency of tourism and promote investment,” Thailand’s government said in a January statement. “It will also have a positive effect on society in the future as a whole.”
Will Marine Attraction Increase Footfall at Resorts World Sentosa?
Singapore’s Resorts World Sentosa will open its new Singapore Oceanarium on 23 July, part of an ongoing multi-year expansion project.
In 2019, Singapore guaranteed exclusive rights to gaming to RWS and rival Marina Bay Sands through 2030. The resorts agreed to invest about S$9 billion ($7 billion) in non-gaming to grow tourism in the republic.
But in a hiccup for RWS, last November regulators extended its license for just two years instead of the typical three, after an independent panel questioned its ability to “develop, maintain and promote its integrated resort as a compelling tourist destination.”
Genting Singapore Secretary Liew Lan Hing promised a “transformation” of the property to “to deepen its destination appeal.” Singapore Oceanarium is part of that plan. So are other attractions such as Universal Studios’ Illumination’s Minion Land, which debuted in February, and the all-suite Laurus Hotel, which will open later this year.
RWS posted revenue of S$626.2 million in the first quarter, down 20 percent year-on-year, although up 2 percent from the prior quarter. Nomura analysts Tushar Mohata and Alpa Aggarwal anticipate continuing sluggishness in the second quarter but expect earnings to ramp up as new attractions are completed.
Genting Singapore has more additions in the works. It has broken ground on a waterfront complex that will add two more hotels, a retail and dining district and a 290-foot light sculpture.
Vietnamese, Laotian Police Bust Major Online Gambling Ring
A sting by Vietnamese and Lao police brought down a major online gambling ring, which reportedly generated thousands of bets worth millions of dollars.
Vietnam’s Ministry of Public Security said participants wagered almost VND1.3 trillion (US$50 million) in the racket, allegedly led by Mai Anh Viet of Hanoi and Nyugen Huu Son of Ho Chi Minh City.
According to VN Express, police seized 35 mobile phones and 37 desktop and laptop computers during raids in Laos. On May 19, Lao authorities handed over 29 Vietnamese suspects along with all confiscated devices and documents to Vietnamese police.
So far, 31 people have been charged: 27 organizers and four gamblers. The investigation continues.
