Daily Asia Gaming eBrief: Visa liberalization crucial for regional Chinese play

Thursday 1st of February 2024

Visa policies a make-or-break for Chinese outbound travel to regional gaming hubs

Good Morning. The recent push for more liberalized visa policies between China and regional gaming jurisdictions is a boon for boosting a currently laggard rebound in punters from the region, with Macau (as a domestic market) and Singapore leading the pack for the Chinese New Year holidays. Meanwhile, the Macau Jockey Club faces headwinds as it pressures horse owners to pay up, or give up their equines. And in the Philippines, PAGCOR raked in some $1.3 billion from gaming last year, with its self-operated casinos' revenue jumping by half.

What you need to know

Visa exemptions for Chinese travelers impact regional casinos reliant on Chinese punters, playing a crucial role in China's outbound rebound.
Macau Jockey Club pressures owners to give up horses ‘for free’, without offering compensation for sudden closure: report.
Income from gaming for PAGCOR in 2023 reached $1.3 billion, with self-operated casinos bringing in $121 million.

On the radar

Wynn Resorts group granted BB- rating for the first time.
Myanmar hands heads of cyber scam criminal group to Chinese authorities.
Indian cricketer falls victim to deep fake video advertising gambling app.
Cambodia starts the year with gambling crackdown, targeting 53 locations.

AGB Intelligence

CHINESE OUTBOUND TRAVEL

Visa liberalization aiding rebound in China's outbound travel

The increasing visa liberalization policies between China and other countries within Asia is leading to a rise in outbound tourism from the region's main supply of punters. Nearly 70 percent of those surveyed in a recent report want to travel abroad this year. But figures for Chinese New Year are quite low, with under 15 percent wanting to leave China's borders during the holiday season. The figure bodes well for Macau - a top (local) destination during the holiday boom.

Jade Entertainment: hopes for 2024

The CEO of Jade Entertainment and Gaming Technology, Joe Pisano, says that the company is undergoing in 2024, laying out a heady list of projects the company is undergoing this year, from microgaming, to opinion betting, to education.

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Corporate Spotlight

1xBet sums up 2023: Innovations, awards, partners and winnings

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1xBet is writing a success story with you and is happy to share its achievements in 2023. During 2023, 1xBet extended sponsorship agreements with world-famous sports clubs, cooperated with new partners and ambassadors, collected awards, and paid millions of dollars in winnings!

Industry Updates

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Registration open for the ASEAN Gaming Summit 2024

Registrations for the 2024 ASEAN Gaming Summit, the calendar conference of excellence of the gaming industry in the region, are officially open. Scheduled from 19th to 21st March 2024, the Summit is the gateway to the Next-Gen of gaming in Asia.

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