Daily Asia Gaming eBrief: FATF grey list highlights shortcomings

Wednesday 28th of February 2024

Good Morning
Nobody likes to be labeled, with the Philippines and Vietnam being no exception regarding their grey listing by the Financial Action Task Force. In this week's Under the Scope, expert Ben Lee takes a hard look at junkets' contribution to such a label, as well as the politics and business interests that affect the compliance necessary to be removed from the list. Meanwhile, the long-lasting row over Savan Vegas, in Laos, has been resolved via a $175 million arbitration - with Sanum Investments coming out on top. And gaming giant Light & Wonder saw a very strong 4Q23, with profit up 220 percent due to growth in all business segments.

What you need to know

Under the Scope: FATF grey list highlights challenges to overcome, as politics and business interests muddy the waters.
Group behind Savan Vegas in Laos loses $175 million litigation initiated by Macau-based investor Sanum Investments Ltd.
Light & Wonder registers yet another strong quarter, with 4Q23 profit up 220 percent, as business grew across all segments.

On the radar

Hong Kong Jockey Club asks gov’t for more betting options to be allowed.
Sri Lanka revises new casino license fees.
PAGCOR requests approval for employee wage increase.
Manila airport to increase aircraft movement.

AGB Intelligence

UNDER THE SCOPE

FATF grey list highlights shortcomings and politics

The Philippines is struggling to work its way off the Financial Action Task Force's (FATF) grey list, with junkets in particular focus. Gaming expert Ben Lee points out in this week's Under the Scope the differences between the Philippines' requirements, steps and political machinations, as well as Vietnam's, while also looking at other promising jurisdictions who hope to set up gaming and aren't facing increased oversight by the international watchdog.

Crown could get The Star’s Sydney casino license on a silver platter: Ben Lee

The announcement of a second Bell inquiry into The Star Sydney caught many by surprise. Expert Ben Lee points out the various possibilities for the move, one of which includes essentially giving The Star’s Sydney license to rival Crown Resorts “on a silver platter”.

WATCH FULL INTERVIEW

Corporate Spotlight

Why bettors from the Philippines choose 1xBet

1xBet is one of the leaders in the global betting industry. The bookmaker offers its clients excellent betting and gambling opportunities worldwide, quality service, and support. 1xBet listens to its players to constantly improve the product, which the brand’s clients in the Philippines have already tried.

Industry Updates

Okada Manila celebrates fifth Forbes 5-Star rating.
Habanero braces players for an exhilarating adventure in Vampire’s Fate.

Registration open for the ASEAN Gaming Summit 2024

Registrations for the 2024 ASEAN Gaming Summit, the calendar conference of excellence of the gaming industry in the region, are officially open. Scheduled from 19th to 21st March 2024, the Summit is the gateway to the Next-Gen of gaming in Asia.

Asia Gaming Awards 2024 recognizing excellence on March 20th in Manila

The Asia Gaming Awards, hosted by Asia Gaming Brief, is set to once again recognize and celebrate the outstanding achievements in the Asian gaming industry. The Awards ceremony will take place on the evening of Wednesday, 20th March 2024, at the Grand Ballroom of the Shangri-La The Fort, Manila.

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