Daily Asia Gaming eBrief: UN warns of rising online gambling threats in Southeast Asia

Wednesday 9th of October 2024

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Good morning. The situation is evolving out there. The United Nations Office on Drugs and Crime warns that Southeast Asia is increasingly threatened by cybercrime and illegal online gambling, with losses estimated to reach up to $37 billion in 2023. Organized crime groups are leveraging these platforms for illicit activities. Meanwhile, in the UAE, Wynn Resorts increased the UAE casino project budget to $5.1 billion, aiming for high-net-worth clientele with a new gaming license secured.

What you need to know

The UN reports alarming illegal online gambling and cyber fraud growth in Southeast Asia, causing $37 billion in financial losses.
Wynn Resorts boosts its UAE project budget to $5.1 billion, targeting affluent clients following the acquisition of a gaming license.

On the radar

Light & Wonder had a solid 3Q24 despite Dragon Train removals: DB.
Macau welcomed over 993k visitors during October Golden Week.
Alice Guo withdraws from the 2025 reelection bid for Bamban Mayor.
Thailand’s Tourism Minister urges business support for casino plan.
POGO could influence 2025 elections, warns Anti-Organized Crime Commission.

AGB Intelligence

CYBER CRIME

Rising cyber fraud and gambling threaten Southeast Asia: UN

Southeast Asia is grappling with an alarming surge in illegal online gambling and cyber fraud, according to a recent report from the United Nations Office on Drugs and Crime (UNODC). The report estimates that financial losses linked to scams in the region could reach between $18 billion and $37 billion in 2023. Organized crime groups are increasingly exploiting unregulated online casinos and high-risk virtual asset service providers, creating a complex web of money laundering and cyber-enabled fraud that challenges law enforcement efforts across the region.

Corporate Spotlight

Altenar brings premium sportsbook solution to Asia

Altenar, a leading sportsbook provider is bringing its global expertise to Asia, looking to expand its operations. Since 2011, Altenar has powered hundreds of online sports betting sites worldwide and is a major B2B provider in Europe and Latin America licensed markets.

1xBet: The most popular gambling games and slots in Asia

For global betting company 1xBet, Asia is a key market for several reasons. This is why 1xBet pays special attention to the Asian market and actively promotes its sports betting platform and the most popular gambling games on the continent.

Industry Updates

FeedConstruct partners with H League on Exclusive International Betting Rights.
Aristocrat Gaming was awarded with the Land-Based Industry Supplier of the Year.

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