Month: January 2025

Genting Malaysia has launched a new mid-field gaming floor at its flagship integrated resort, Genting World, in Malaysia. This development comes as the company continues renovations on the Circus Palace and Hollywood casinos, which remain closed.

According to a report by Maybank analyst Samuel Yin Shao Yan, the new facility, named “Genting Casino,” became operational during his site visit on December 30. It features two themed areas: one similar to the existing “Sky Casino” and another styled traditionally Chinese, equipped with 36 gaming tables and a significant number of lower-yield slot machines and electronic gaming tables. These machines are noted for higher profit margins due to lower manpower requirements.

The new mid-field gaming area aims to compensate for the closure of the Circus Palace and Hollywood gaming floors, which were shut down early last year and have yet to reopen. Yin highlighted that while these areas are currently undergoing renovations, Genting Malaysia management has assured their eventual reopening, although no timeline has been provided.

Yin also pointed out that the existing Sky Casino offers smoking lounges for players, whereas the newly opened Genting Casino has yet to establish a smoking area. Despite this, he expressed optimism about the addition of this new gaming floor, even though its scale is smaller compared to the Circus Palace and Hollywood Moonlight Tower, both of which are under renovation.

In his report, Yin concluded, “While we are positive about Genting Malaysia’s efforts to expand its mass gaming offerings, we are maintaining our current earnings forecasts and target prices. Nonetheless, we believe Genting Malaysia’s valuation remains attractive.”

The Society Concerned about Gambling Addiction has sounded the alarm on a sharp rise in online gambling addiction in Japan, citing an 11-fold increase in consultation requests over the past five years, especially since the onset of the COVID-19 pandemic in 2020.

The organization also expressed concern over individuals resorting to illegal work to fund their gambling habits. “Illegal online casinos must be eradicated,” said Noriko Tanaka, the group’s head, underscoring the urgent need for action.

When visiting licensed casinos, please manage your time and spending responsibly. Take regular breaks and set limits to ensure a balanced experience.

If you need support, consult our experts to prevent losses and avoid addiction.

Korean foreigner-only casino operator Grand Korea Leisure (GKL) reported a 4.6% increase in December 2024 casino sales, reaching KRW38.7 billion ($26.35 million), and a 10.7% year-on-year rise. Table games generated KRW35.63 billion ($24.26 million), up 5.6% monthly and 11.5% yearly, while machine gaming revenue fell slightly to KRW3.06 billion ($2.08 million) but rose 2.7% year-on-year.

For 2024, total casino sales dropped 0.9% to KRW393.61 billion ($267.94 million). Table games declined 0.4% to KRW358.73 billion ($244.19 million), and machine revenue fell 6% to KRW34.88 billion ($23.74 million). However, the casino drop for the year rose 7.5% to KRW3.64 trillion ($2.48 billion).

GKL operates its Seven Luck casinos as a quasi-public entity under the Korea Tourism Organization.

Three mainland men were arrested for allegedly using counterfeit chips to commit fraud at a Cotai casino. Police seized 77 fake chips worth 10,000 yuan each and HK$17,000 in suspected proceeds. The scheme defrauded the casino, gamblers, and money exchangers of a total of HK$600,000.

The incident occurred on January 1 when a casino dealer detected a fake HK$10,000 chip during a transaction. Further investigation revealed other gamblers were unknowingly holding counterfeit chips, obtained through exchanges inside or near the casino.

Police found the suspects, who entered Macau that day, collaborating to mix fake chips with real ones. One suspect attempted to exchange the chips at the casino counter, exposing the scheme, while another used them in private exchanges.

Authorities confirmed the casino lost HK$20,000, while 11 victims lost HK$580,000. Four victims were also found to be engaged in illegal money exchanges, which are being separately investigated.

Visitors to Macau are advised to avoid exchanging money with strangers to stay within the law.

Following the nationwide ban on Philippine Offshore Gaming Operators (POGOs) on January 1, authorities have initiated comprehensive efforts to address the aftermath. State lawyers are tasked with reviewing the inventory of assets from shuttered POGO operations. This includes canceling fraudulently acquired birth certificates used by foreign nationals and seizing illegally obtained real estate and other assets.

The Office of the Solicitor General (OSG) noted that while the total value of these assets remains unclear, their priority is to take possession and establish control over them.

Congressional probes revealed that some Chinese nationals used fake birth certificates to gain Filipino citizenship, enabling them to open businesses and acquire properties unlawfully.

However, the process of confiscating these assets has been sluggish. Both the Senate and the House of Representatives are working on legislation to expedite the forfeiture of POGO-related assets in favor of the government. This would include properties, equipment, and proceeds from illegal operations.

The complete shutdown of POGO operations across the country was mandated by the President through an Executive Order, which took effect on January 1, 2025.

After a solid recovery year in 2024, Macau’s gaming industry is set for a promising 2025. The Chinese New Year holiday is expected to generate $5 billion in gross gaming revenue (GGR), a 6% year-over-year increase, according to Citigroup. South Korea’s Mohegan INSPIRE also reported strong growth, earning $163 million in net revenue during its fourth fiscal quarter.

Macau’s Performance in 2024

In December, Macau recorded MOP18.20 billion ($2.28 billion) in GGR, down 1.3% from November and 2% lower than December 2023. The dip was partially due to disruptions caused by Chinese President Xi Jinping’s visit.

For the year, GGR reached MOP226.78 billion ($28.39 billion), a 23.9% increase over 2023 but still below the pre-pandemic 2019 level of MOP292.45 billion ($36.7 billion). Visitor arrivals neared 35 million, exceeding projections.

Recovery and Future Outlook

The lifting of travel restrictions in early 2023 fueled Macau’s recovery, with operators focusing on mass-market growth and reducing reliance on junkets. The government’s GGR projection of MOP216 billion ($27.07 billion) was surpassed, and 2025 is forecasted to reach MOP240 billion ($30.1 billion).

As Macau continues its rebound, strong visitor numbers and strategic industry shifts position the city for sustained growth in 2025.