Daily Asia Gaming eBrief: Thailand to see a gold rush: Spectrum Gaming CEO

Tuesday 23rd of January 2024

Good Morning. Even as Thailand slowly moves forward with gaming legislation, top gaming companies are itching for the chance to explore their chances but have raised numerous concerns based on on-the-ground visits. Spectrum Gaming CEO Fredric Gushin still sees a gold rush coming, with giants such as Genting already announcing their intents. Meanwhile, in Macau, the mass market continues to deliver in January, surpassing pre-COVID levels, says JP Morgan. And in the Philippines, PAGCOR is aiming to reduce its share of online casino revenues.

What you need to know

Thailand is a new gold rush for top-tier gaming companies due to very limited market opportunities: CEO of Spectrum Gaming.
Macau mass market surpassing pre-covid levels in January by 5 to 10 percent, notes brokerage JP Morgan.
PAGCOR plans to reduce its share of online casino revenues to enhance competitiveness and combat illegal gambling activities.

On the radar

China’s outbound travel bookings surge 10 times during Chinese New Year.
FdJ buys Kindred Group for $2.7 billion.
Macau attracted 2.94 million visitors in December 2023, up 656% yearly.
International tourism to return to pre-pandemic levels by year-end: UNWTO.

AGB Intelligence

THAILAND

Limited opportunities mean a gold rush: Spectrum Gaming CEO

Thailand is likely to continue to move forward with gaming legislation during this legislative session, prompting a gold rush for companies looking to take advantage of the novelty. Fredric Gushin, CEO of Spectrum Gaming Group, says that top level gaming companies are facing limited opportunities worldwide, with giants such as Genting Group moving quickly to prepare. The legalization of gaming in Thailand would have a strong ripple effect throughout Southeast Asia, with winners and losers.

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