Daily Asia Gaming eBrief: India with strong gaming potential, facing hurdles: Consultant

Tuesday 16th of April 2024

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Good Morning. India's gaming industry, particularly in Goa, is facing parallels with Macau's early days, with rampant possibilities, albeit tempered by regulatory challenges and a steep tax framework, notes a top consultant. Meanwhile, MGM Resorts is taking the Federal Trade Commission to court over actions taken in the wake of the September cyber-attack which disrupted its IT systems for days and cost it millions. In Macau, Bank of America is estimating that Melco Resorts will resume its dividend payments as early as next year, ahead of previous expectations.

What you need to know

India's gaming landscape is evolving, with strong potential, but regulatory hurdles and taxation framework are hindering growth: Consultant.
MGM Resorts International is suing the US Federal Trade Commission over its investigation into the cyber-attack last September.
Bank of America forecasts Melco will resume dividend payments from FY25 onwards, ahead of the previous FY26 expectation.

On the radar

Public hearings in Bell Two Inquiry have commenced: The Star.
Belle Corp revenue reaches $98.6M in 2023, boosted by gaming units.
Macau premium mass resilient, Sands regains pole position: Citigroup.
BlueBet faces fines for illegal gambling advertisements.
Macau GDP could rise by 19 percent in 1Q24: Economic Association.
Macau Legend pushes back timing for Laos casino sale.

AGB Intelligence

INDIA

Strong gaming potential but regulations/tax hindering growth: Consultant

A top gaming consultant says that a recent trip to India highlighted the growth potential of the nation's gaming industry, with parallels to the early days of Macau's liberalized gaming environment. However, regulatory hindrances and a high taxation framework are slowing the potential growth of the industry - issues that can hopefully be cleared up following the upcoming elections.

PAGCOR encouraging profit and tax revenue

The COO of Newport World Resorts, Hakan Dagtas, has praised PAGCOR’s moves to further regulate the industry, in particular the online segment, offering a more positive investment environment that allows profitability and, ultimately, more government tax revenue. The adjustments in tax rates are also pushing operators out of the illegal space and into a regulated business, all positive for future growth.
Watch the interview now!

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