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Gambling revenue in Macau rises by 8.5 per cent

Niji Narayan

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Gambling revenue in Macau rises by 8.5 per cent
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Gross gambling revenue (GGR) in Macau increased by 8.5 per cent, exceeding the analysts’ predictions.

Macau’s Gaming Inspection and Coordination Bureau (DICJ) released figures for the month of November revenue. It says that overall revenue was MOP25 billion ($3.1 billion) while average daily revenue was MOP833 million.

The boost in revenue in VIP sector is the main catalyst behind the growth. Bernstein, a top analyst, said, “Had hold been more normal at 3 per cent, y/y growth would have been 4 per cent. We estimate VIP GGR was up 10 per cent y/y and Mass was up 7 per cent.”

The firm also estimates that for December, growth will be between 6 and 8 per cent. It noted, however, that last year December was relatively weak.

The 2018 edition of the “Golden Week” public holiday, as well as the subsequent opening of the Hong Kong-Zhuhai-Macau Bridge, reportedly helped Macau to record a 9.2 per cent increase year-on-year in October visitor numbers to 3.15 million.

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Google Briefly Removes Paytm App for Betting Violations

Niji Narayan

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Google Briefly Removes Paytm App for Betting Violations
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Google has removed the Paytm App, one of India’s biggest digital payment apps, for several hours from its online store for breaching gambling rules, a day before the start of the Indian Premier League (IPL) cricket tournament.

Betting is illegal in India, but the countdown to the 53-day IPL has seen a profusion of online ads for fantasy sports sites, which are allowed in many parts of the country. Paytm had recently launched a fantasy cricket tournament that involved cash bets and violated the Google Play Store’s policies.

“Today afternoon, we received communication from Google that they are suspending our app because they believe this to be a violation of their Play Store policies on gambling,” the company said.

However, the app was back on the platform Friday evening after removing a “cashback” feature on “a recently-launched game on the application,” the Press Trust of India reported.

“Update: And we’re back!” Paytm tweeted.

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Maharashtra Government to Consider Legalisation of Online Betting

Niji Narayan

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Maharashtra Government to Consider Legalisation of Online Betting
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The Indian State of Maharashtra is planning to legalise online betting. The proposal has been mooted over by the ruling party NCP and it wishes to follow the footprints of Sikkim.

The state is eyeing the legalisation of online betting to generate revenue for overcoming the COVID-induced financial crisis.

An NCP cabinet member stated that the online betting and gambling market is booming in India despite the fact that it is illegal. There is no way to completely stop these activities; therefore, it would be better if the State capitalises on this industry.

“If we impose GST on the transaction, we expect to mobilise at least Rs 2500 crore from the operators,” said the cabinet minister.

A high task committee was set up by the government which studied the idea of legalising gambling.

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Petition to Withdraw Yokohama IR Bid Gains Only Less Number of Supporters

Niji Narayan

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Petition to Withdraw Yokohama IR Bid Gains Only Less Number of Supporters
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The Yokohama city has examined a petition regarding an IR bid from its residents at the City Council Building, Urban Development and Road Committee on September 11. The petition was titled “Withdrawal of Casino IR Bid Plan and Formulation of New Business Plan Independent of Casino.”

It made two demands – the withdrawal of the IR bid and implementation of a new business plan that does not include an IR and which can be implemented even in a post-COVID-19 world.

Masato Yamashita, a member of the city council (Liberal Democratic Party), said, “I do understand the sentiment of the petitioners. I hate gambling and do not gamble. There are some in the LDP as well who do not like it.”

However, he continued, “This opposition campaign from residents when nothing has been decided is only based on liking or hating gambling. I do not want to have a conversation that will divide Yokohama city.

“Regarding an IR, I would like you to try and understand more [because there may be misunderstandings among the residents].”

He asked the city to promote more understanding among its residents.

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