Daily Asia Gaming eBrief: Mekong region hub for online gambling/money laundering

Tuesday 20th of February 2024

Online gambling, money laundering thrive in Mekong region

Good Morning. The Mekong region is being plagued by a series of online gambling and money laundering operations focused on - and operated largely by - one main market: China. An analyst points out the sheer scale of the operations, and difficulty for law enforcement to eradicate them. Meanwhile, Australia's The Star is facing 'Bell Two' - a new inquiry which will determine if it can hold a casino license in Sydney. And in Macau, the premium mass segment saw its best-ever results during Chinese New Year, led by Galaxy.

What you need to know

Its proximity to China has turned the Mekong River region into an online gambling and money laundering hub, says an analyst.
The Star is facing a second inquiry into its suitability to hold a casino license in Sydney, led by Adam Bell, with a report expected end-May.
Citigroup: Macau saw its best-ever performance in premium mass during Chinese New Year, with Galaxy leading in market share.

On the radar

NagaCorp’s GGR up 16 percent in FY23 to $515 million.
Macau illegal gambling law draft includes expulsion for infractions.
Macau CNY Golden Week visitation fully recovered to 2019 levels.
Australian hotel fined, forced to sell business over gambling integrity breaches.
Thai police arrest suspect behind $70 million illegal gambling operation.

AGB Intelligence

GOLDEN TRIANGLE

Online gambling, money laundering thrive in Mekong region

The proximity to China has caused the region around the Mekong River to become a hub for online gambling and money laundering activities, notes an analyst. The underground economy supporting such activities is comparable to the foreign direct investment in some countries, with the groups behind them shielding themselves from regulation by operating in militia-run or controlled areas. The effect has been an increase in corruption and foreign-targeted scams, as well as human trafficking, notes Crisis Group's Richard Horsey.

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