Daily Asia Gaming eBrief: PAGCOR Chairman doesn't want police powers

Wednesday 12th of June 2024

1709253631

Good Morning. No need for "more teeth". That's what PAGCOR's Chairman says about suggestions that the regulator should have police powers in order to go after bad actors in the offshore gaming space. Alejandro Tengco says the increase would only distract from its licensing and regulatory roles. Meanwhile, analysts are further raising their expectations for Macau's FY25 GGR, now nearing $30 billion, amongst strong visitation and gaming figures. We also take a look at Jumbo's new to market offerings, including a land-based product that started off online.

What you need to know

PAGCOR's Chairman doesn't want the entity to have police powers; says that eliminating IGLs won't eradicate foreign illegal activity.
CLSA raises Macau's FY24 GGR forecast to nearly $30B, citing increased visitation and gambling budgets, with a 3.2% rise projected for 2025.
Jumbo Technology debuts brand new offerings, including Jackpot Link and Color Game products: check out the video.

On the radar

SkyCity: Adelaide casino license suitability review has recommenced.
Departure of Newport World Resorts top executives part of transition plan: AGI.
Mohegan appoints Nelson Parker as new Chief Strategy Officer.
Genting Malaysia issues $84.7M notes for redevelopment of its resorts.
Embattled Imperial Pacific to delist from the HKEX on June 17th.

AGB Intelligence

PHILIPPINES

PAGCOR: foreign crime syndicates, not POGOs, are the real danger

PAGCOR Chairman doesn't want police powers

The head of the Philippines' gaming regulator says that he doesn't want the authority to have police powers, saying it could dilute its effectiveness in handing out licenses and overseeing licensees. Alejandro Tengco lauds efforts so far in taking down illegal operators but notes that an outright ban on offshore gaming won't eliminate criminal activity by foreign actors, in particular those who are being sought by Chinese authorities.

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