Daily Asia Gaming eBrief: Macau and China team up on illicit money exchange

Tuesday 20th of August 2024

1709253631

What you need to know

Macau legislative amendments to target illicit money exchange operations follow mainland China crackdown.
Citigroup's survey reveals Macau's premium mass wagers increased, with Galaxy Entertainment expanding its market share.

On the radar

Melco Resorts invests $44.5M in share buyback.
Four-nation top diplomats join hands to combat cross-border online gaming.
“POGO Mayor” Alice Guo has fled the Philippines according to Senator.
Success Universe warns of record loss in 1H24 due to fair value decline.

AGB Intelligence

MACAU

Mass play largely unaffected by money exchange crackdown

Macau is pushing forward with efforts to curb illegal money exchange operations which have plagued its casinos, in particular following the elimination of the junket sector. New legislative efforts should have an impact on VIP, but are unlikely to curb mass GGR, notes gaming scholar Carlos Siu. Further efforts to curb the illegal activity are expected on both sides of the border, as China urges Macau to help tap the money outflow.

Corporate Spotlight

How 1xBet dominates the Asian market: conditions and approach

1xBet operates in several dozen countries in Asia, and the number of partners in this region is growing steadily, which indicates the effectiveness of the 1xPartners affiliate program. The brand offers favorable conditions and a modern set of tools for making money on the Internet.

Know Your Enemy: An Interactive Guide to Online Gaming Fraud

Sumsub, Online Gaming Fraud, verification platform

Online gaming fraud is on the rise in the iGaming industry. In Q1 2022, there was an 85% increase in fake account registrations compared to Q4 2021. While players are undoubtedly affected by gaming fraud, iGaming platforms also suffer due to damaged reputations, huge financial losses, and legal consequences.