Key gaming summit postponed until 2021

by William Brown Last Updated
Key gaming summit postponed until 2021

The ASEAN Gaming Summit will take place in the second quarter of 2021, after originally being slated for September 22 this year.

Casino Reports said the fourth edition of the summit was to take place in March, with thousands of delegated to make their way to the convention.

The venue preparing to welcome all people interested in learning more about the Asian gaming scene was to be the Shangri La At-The-Fort in Manila.

The rescheduled summit will fuse the in-person experience with those attending online, with enhanced online content and more than 400 operators projected to participate.

Land-based gaming action and online offerings will be front and centre, with the gaming hotspot bringing more information on the constantly changing global gaming world and ways in which a gaming leader can stay competitive and protect their spot as a premium partner.

Networking opportunities will also be promoted, with the Future of Philippines Gaming and Development, Cashless Technology and Esports all part of the agenda.

China to publish casino blacklist to prevent locals gambling

China said it will publish a list of foreign casinos that target high rollers and ban its citizens from travelling to those venues.

Casino.org reports China’s Ministry of Culture and Tourism said that it has established the blacklist of casinos in overseas cities that market to Chinese tourists.

Nearly all forms of gambling are illegal in mainland China, the exception being the state-run lottery.

Commercial casinos are found in nearby Macau.

‚ÄúCasinos in overseas cities attract Chinese tourist to go abroad for gambling activities, disrupting the order of China‚Äôs outbound tourism market and endangering the personal and property safety of Chinese citizens,‚ÄĚ a ministry notice said.

The ministry said it would include casinos that allow proxy betting on its list.

Proxy betting is the process of a gambler making bets on behalf of a person who is directing their play remotely via telephone or another device.

VIP junket groups, tasked with coordinating travel from China to casino destinations, are additionally being closely monitored by the government.

The blacklist news is positive for Macau, gaming analysts said.

JP Morgan analysts DS Kim, Derek Choi and Jeremy An said it is difficult to know how the government will clamp down and what it means by ‚Äėblacklisting‚Äô.

‚ÄúWe suspect capital flows through underground banks and agents, as well as junkets‚Äô promotion of these overseas markets, will be heavily scrutinised.‚ÄĚ

Numerous foreign integrated resort markets have welcomed Chinese nationals to their casinos, including from the Philippines, Australia, Singapore and Vietnam.

Casino companies are banned from advertising their gaming services inside mainland China.

While several countries could be included on the blacklist, the Philippines is a likely front runner.

The southeast Asian nation is home to some 60 licensed internet casino firms, known as Philippine Offshore Gaming Operators.

These POGO’s target Chinese gamblers and their operational hubs are staffed with Chinese people.

China’s President Xi Jinping asked Philippines President Rodrigo Duterte to force POGO businesses to stop allowing players from China.

These requests were refused in 2019, with the Filipino president saying the associated tax revenue from online gaming is too substantial.

Gaming distributor suffers big losses during COVID-19 pandemic

Gaming equipment distributor Asia Pioneer Entertainment says its focus will shift back to Macau, after losing more than A$5 million in the first half of 2020.

Asgam reported in August that the Macau-based distributor’s loss represents a 429 per cent increase from a loss of under A$1 million over the first six months of 2019.

APE points to a 46 per cent year-on-year decline in revenue, mainly attributable to a 50.7 per cent decrease of income derived from technical sales and distribution of electronic gaming equipment.

The company also recorded a one-time write-off of finance lease receivable of approximately A$4.1 million, after terminating two finance lease agreements for the leasing of electronic gaming equipment in May.

The agreements were terminated after Siam Star Leisure, which leased EGE from APE for use at a casino in Cambodia, and GLIMEX, which did the same for a casino in the Philippines, failed to pay lease rental.

In its 1H20 results release, APE said GLIMEX has agreed to pay its outstanding finance lease rental of US$127,680 but that the first two instalments totalling US$35,200 had not been paid on time due to Manila bank services being impacted by COVID-19 lockdowns.

A letter has been sent to Siam Star demanding payment for outstanding rental of US$249,050.

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