Amid growing public concern over the rise of online gambling, Philippine Amusement and Gaming Corporation (Pagcor) chairman Alejandro Tengco strongly reaffirmed that the solution lies in enhanced regulation—not a sweeping ban. In a recent interview, he emphasized that the licensed online gaming industry contributes significantly to government revenues—approximately PHP100 billion (US$1.77 billion) annually, including about PHP50 billion in licence fees alone during 2024. With employment for around 32,000 individuals supported directly by the sector, Tengco warned against knee-jerk legislative bans that could erase these economic gains and displace workers.
This September marks the 20th anniversary of Grand Korea Leisure Co. Ltd (GKL), a milestone the company commemorated with pride. Since its inception in September 2005, GKL’s Seven Luck casinos—operated exclusively for foreign visitors—have welcomed approximately 22 million international guests. In marking this achievement, GKL highlighted its substantial contribution of KRW 740 billion (about USD 531 million) to South Korea’s Tourism Promotion and Development Fund, underscoring its standing as a key player in the nation's tourism outreach efforts.
MGM Resorts CEO Bill Hornbuckle conveyed a strong message from the Bank of America Securities 2025 Gaming & Lodging Conference: Macau’s promotional environment has become more manageable—even as VIP patronage surges—thanks in part to regulatory oversight. He acknowledged, “We got very aggressive on the casino floor… we changed a bunch of things: how we fed people on the floor, how the floor is designed, the padding in the carpet… the lighting, the correlation between how you position the games.” He added, “Fortunately, although it’s always aggressive [in Macau], we haven’t seen it creep out of control… I think there is a check and balance on that.”
MGM Resorts International has revealed it secured full financing for its groundbreaking Japan project—MGM Osaka, the country’s first integrated resort featuring a casino. Sarah Rogers, Senior Vice President of Corporate Finance at MGM Resorts, shared the company will invest around US$300 million this year, followed by US$500–600 million in subsequent years, before tapping into debt funding.
Investment bank Jefferies recently upgraded its forecast for Macau’s 2025 gross gaming revenue (GGR) to MOP 237 billion (approximately US $29.3 billion), aligning above the revised government projection and signaling renewed investor optimism. This upbeat outlook stems from a solid first half of the year, which saw GGR climb 4.4 percent year-on-year to MOP 118.8 billion, driven largely by robust performance in May and June.
Author: Janice Chew • Monday, 08/09/2025
