Daily Asia Gaming eBrief: Australian authorities go after online betting sector

Tuesday 17th of December 2024

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Good morning. Australian authorities show no signs of slowing down their acts to penalize operators who are not strictly abiding by the law, with the financial watchdog going after Entain for alleged AML/CTF breaches - the first time the authority has targeted the online betting sector. Looking to the Philippines, online gaming GGR could hit 70 percent of its land-based counterpart this year, despite sluggish taxation collection. Meanwhile, in Macau, the upcoming visit of China’s President does not appear to have slowed the roll of punters, even though the high-profile event places many eyes and restrictions on the city.

What you need to know

Australia’s financial watchdog launches first civil penalty proceedings against online betting sector, targeting Entain for alleged AML/CTF failings.
Annualized GGR for online gaming in the Philippines hits 70 percent of the country’s land-based gaming GGR but tax collections remain low.
Citigroup’s survey shows Macau’s gaming appetite unaffected ahead of President’s visit, with premium mass market trends holding steady.

On the radar

PAGCOR leases land to San Miguel Corp, gets new headquarters free of charge.
HSBC: Macau’s gaming operators cautious in bond issuances in 2025.
The Star appoints Frank Krile as new Group Chief Financial Officer.
Indonesia: rise in outbound nationals to Cambodia for online gambling jobs.
ASIC sues HSBC Australia for allegedly failing to protect consumers.
Singaporean national arrested in Thailand over alleged links to crypto scam.
Macau’s Lisboeta extends business hours for upcoming outdoor concert.

AGB Intelligence

AUSTRALIA

Financial watchdog goes after online betting sector

Australia’s financial watchdog AUSTRAC has moved its sights beyond land-based gaming and is now focusing on the online betting industry. The regulator has launched civil penalty proceedings against Entain for alleged contraventions of AML/CTF regulations. The move is the first time AUSTRAC has focused on the online sector but it vows to continue its crackdown on any operators not painting within the lines.

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