Good Morning. India’s Telangana state government banned all gambling five years ago, whether skill-based or not, in response to incidences of economic harm and gambling addiction. However, it’s now having a rethink. As the industry booms in the country, the state has realized that online gambling could be a source of taxation and jobs, and the ban has not been effective in stopping locals from tapping into offshore sites. Speaking at a recent AIGF forum, Telangana Principal Secretary for IT, electronics, and communications, Jayesh Ranjan, said he has draft regulation and he’s waiting for the opportune moment to introduce it to the cabinet.
What you need to know
Macau’s GGR is unlikely to return to pre-pandemic levels until 2027, estimates UBS, which has cut its revenue for this year by 29 percent.
Steelman Partners says it’s seeing a boom in demand for architecture services in the gaming industry post-pandemic, although Asia is lagging in terms of recovery.
Philweb Corp. recorded a 22 percent fall in net profit in 1Q22, despite a strong uptick in revenues from its PIGO operations.
On the radar
Delta Corp. 4Q22 profit falls 17% as Omicron outbreak eats into visitation.
The state of Telangana may be having a change of heart on its decision to ban all forms of gambling, marking another key step towards regulating the already booming Indian market. Telangana, the twelfth most populous state in the country with about 35 million inhabitants, put a blanket ban on all gambling in 2017 following reports of gambling addiction leading to suicides and bankrupting families. Five years on, Telegana has recognized that the blanket ban may not be effective, with players increasingly being targeted by illegal offshore sites over which the government has no control. It is also missing out on potential revenue from taxation.
Industry Updates
Liboeta’s GoAirborne posts competition wins for brand ambassador.
Asia Gaming Brief is a news and intelligence service providing up to date market
information for worldwide executives on relevant gaming issues in Asia.