Daily Asia Gaming eBrief: Australian gaming market faces new regulatory hurdles

Good Morning. Credit card deposits into online gaming accounts in Australia could account for about a third of total deposits and a general ban would have a considerable impact in the industry, consultant Geoff Wohlsen, told AGB in an interview. However, the ban could still be challenged successfully to the country’s High Court, the gaming industry veteran added. Meanwhile, stocks received a boost as the US Federal Reserve announced a stop to almost 2 years of constant interest rate hikes, including several gaming company stocks.

What you need to know

• A ban on use of credit cards for online gambling in Australia could still be challenged successfully at the country’s High Court, consultant Geoff Wohlsen, told AGB.
• Gambling stocks received a boost as the US Federal Reserve signaled that interest rate cuts in 2024 would stop and even be reversed.

On the radar

• Crown Resorts enhances gambling harm prevention through carded play measures.
• Philippines sets 7.7 million tourist arrival goal for 2024, outpacing the 2023 target.
• Imperial Pacific International faces claims exceeding $21 million from judgment creditors.

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