Connect with us

Asia

MGM Resorts International Looking to Open New Venues in The Asian Market

Published

on

 

MGM Resorts International is an American hospitality and entertainment corporation that operates resorts in Las Vegas, New Jersey, Maryland, Massachusetts, and Mississippi. Their resorts include The MGM Grand, Bellagio, Park MGM, and Mandalay Bay.

MGM Resorts’ History

The history of the corporation can be traced back to 1969, when airline and casino magnate Kirk Kerkorian purchased a majority share in the Metro-Goldwyn-Mayer (MGM) picture studio. This event is considered to be the beginning of the company.

Grand Name Company, the precursor to what is now known as MGM Resorts International, was established in 1986 by Kirk Kerkorian as a wholly owned subsidiary of Tracinda Corporation. It was rebranded as MGM Grand, Inc. in 1987. After purchasing Mirage Resorts in the year 2000, the corporation changed its name to MGM Mirage.

Despite the fact that the majority of the company’s resorts are already in operation in the United States, the corporation has expressed a strong desire to expand into Asia, with China, Japan, and Singapore being its primary areas of focus.

MGM Resorts in Singapore

The establishment of a venue in Malaysia might be considered a significant milestone for MGM Resorts International. It has been confirmed by Bloomberg that the firm has already spoken with the Malaysian Lim family about the possibility of either taking over their Genting Singapore business or investing in the company. A consensus has not yet been not reached, but it seems probable that MGM will continue its pursuit of the firm in the future.

Singapore’s city state has just two casino operators, Genting being one of them. Sentosa, an island off Singapore’s southern coast, is home to the Resorts World Sentosa complex. According to a recent review by www.casinosnavi.com, the resort has more than 550 gaming tables and 2,400 slot machines, and other electronic games. Theme parks, aquariums, water parks, restaurants, and shopping round out the list of things to do at Universal Studios Singapore.

In addition, Genting Singapore was one of the few businesses owned by the Genting group that remained profitable throughout most of the COVID-19 pandemic. In the first quarter of 2022, Genting Singapore reported a 13 percent year-on-year increase in revenues to $225 million and a 17 percent increase in net profit to $29 million.

It’s clear that a potential MGM takeover of the Genting Singapore presence would further strengthen the US casino giant in the Asian market. Not only that they would take over a profitable business with lots of potential for expansion, but they will penetrate another market that’s not accessible to them at the moment. Should an agreement be reached, MGM will become a major player in the Asian market after adding Singapore to their portfolio.

MGM Resorts in Japan

MGM Resorts International also intends to construct a resort in Osaka, Japan, with a price tag of ten billion dollars. The city and prefecture of Osaka have decided to work with MGM, which has formed a partnership with the Japanese financial services giant ORIX. This will allow MGM to operate an integrated resort in the area.

Since Las Vegas Sands Corp., Wynn Resorts Ltd., and other Asian gambling businesses withdrew from developments in Osaka, only the MGM-Orix joint venture submitted a bid to the region’s RFP process for establishing a casino.

This is MGM’s first foray into the Japanese casinos business, and they hope it will be just the beginning. In a statement, MGM Resorts CEO and President Bill Hornbuckle said that “We couldn’t be more excited for the opportunity to help enhance and grow Osaka’s reputation as a world-class destination and gateway for the world to the wonders and rich history of Japan.” 

MGM Resorts in China

MGM Macau and MGM Cotai are the two locations in China where the MGM brand is active. The MGM Macau was the first business that the corporation had in China, the second one being the MGM Cotai casino resort which officially opened its doors on February 13th, 2018.

1,390 rooms and suites make up the Cotai hotel. There is a 2,000-seat MGM Theater in the hotel as well. More than 2,000 different plant species are housed at Nature’s Art, the world’s biggest art garden. Among those species are many that had been thought to be extinct.

Moreover, the opening of MGM Shanghai looks to be part of MGM’s strategy to increase its presence in the country. A hotel management agreement with Shanghai West Bund Development has been signed by Diaoyutai MGM Hospitality, a 2007 joint venture between MGM Resorts International and Diaoyutai State Guesthouse. This agreement will see Diaoyutai MGM Hospitality open its first MGM-branded hotel in Shanghai.

MGM Shanghai West Bund will include 161 guest rooms and 58 suites, as well as a range of food and beverage, entertainment, and other services, according to information supplied to the press. The hotel will provide a variety of Las Vegas-inspired entertainment activities, such as live performances by prominent artists and art exhibits, in an effort to attract wealthy tourists and residents alike.

Mr. Bill Hornbuckle, CEO and President of MGM Resorts, stated, “We’re honored that the MGM brand and our China joint venture, Diaoyutai MGM Hospitality, were selected by West Bund Group to operate this premium property in such an iconic zone.”

Final Thoughts

Already with a strong presence in the major Asian markets, MGM could strengthen its presence through a potential takeover in Singapore. Even though an agreement is far from being reached, the initial talks bring a lot of promise for the region.

It’s certainly an interesting development for the resort industry in Asia and only time will tell if the negotiations will come to a positive result. In the meantime, tourists can rest assured that the resort era is far from coming to an end.

Continue Reading
Advertisement

Asia

ED Arrests Karnataka MLA Veerendra “Puppy” in Illegal Betting Case

Published

on

ed-arrests-karnataka-mla-veerendra-“puppy”-in-illegal-betting-case
Reading Time: 2 minutes

 

The Indian Enforcement Directorate (ED) has intensified its investigation into Karnataka Congress MLA K.C. Veerendra, also known as “Puppy,” over alleged involvement in a large-scale money laundering and illegal betting operation. The legislator, arrested in Sikkim on Saturday, August 23, was brought to Bengaluru on Sunday for further questioning in connection with financial transactions tied to casinos in Sri Lanka, Nepal and Georgia.

Veerendra was apprehended in Gangtok, where he had reportedly been pursuing a deal to lease land for a casino venture. After his arrest, he was produced before a special court in Bengaluru, which granted ED custody until August 28. To prevent any incidents during his transfer, strict security was enforced at Kempegowda International Airport, and he was quickly escorted to an undisclosed location for interrogation.

Authorities confirmed that multi-state raids preceded the arrest, covering 31 locations across India, including Bengaluru, Hubballi, Chitradurga, Goa, Jodhpur, Mumbai and Sikkim. Five casinos in Goa—Puppy’s Casino Gold, Ocean Rivers Casino, Puppy’s Casino Pride, Ocean 7 Casino, and Big Daddy Casino—were also raided as part of the ongoing probe.

According to ED sources, preliminary findings suggest that Veerendra maintained financial links with casinos and shell companies operating in Sri Lanka, Nepal and Georgia. Evidence gathered during the raids points to overseas transactions and the use of foreign entities to launder large sums of money, some of which may have originated from cyber fraud. Officials suspect that these funds were “converted into white money” by being disguised as credit card transactions.

Documents recovered from multiple properties also revealed that Veerendra was in the process of finalising a deal to acquire a casino from Santiago Martin, a businessman widely recognised as the “lottery king” of Tamil Nadu. Martin is already under investigation by the ED in a separate money laundering case and is known for his financial ties to political figures.

Incriminating evidence seized from Veerendra’s residences, including Rs 12 crore in cash and a significant quantity of jewelry, is now being analysed. The ED has also uncovered records suggesting that his brother, K.C. Thippeswamy, managed three Dubai-based entities—Diamond Softech, TRS Technologies and Prime9Technologies—believed to be connected to their gaming and call centre businesses.

The post ED Arrests Karnataka MLA Veerendra “Puppy” in Illegal Betting Case appeared first on European Gaming Industry News.

Continue Reading

Asia

India Bans Real-Money Gaming

Published

on

india-bans-real-money-gaming
Reading Time: 3 minutes

 

India’s lower house of parliament has passed a sweeping online gaming bill that, while promoting esports and casual gaming without monetary stakes, imposes a blanket ban on real-money games — threatening to disrupt billions of dollars in investment and significantly impact the real-money gaming industry, which could see widespread shutdowns.

Titled the Promotion and Regulation of Online Gaming Bill, 2025, the legislation aims to prohibit real-money games nationwide — whether based on skill or chance — and ban both their advertisement and associated financial transactions.

“In this bill, priority has been given to the welfare of society and to avoid a big evil that is creeping into society,” India’s IT minister Ashwini Vaishnaw said in Parliament while introducing the bill.

The proposed legislation restricts banks and other financial institutions from allowing transactions for real-money games in the country. Anyone offering these games could face imprisonment for up to three years, a fine of up to ₹10 million (approximately $115,000), or both. Additionally, celebrities promoting such games on any media platform could be liable for up to two years of imprisonment or a fine of ₹5 million (roughly $57000), the bill states.

Vaishnaw said the decision to bring the legislation was to address several incidents of harm, including cases where individuals reportedly died by suicide after losing money in games. However, industry stakeholders largely attribute these incidents to offshore betting and gambling apps, which many believe will not be addressed by this legislation.

“This law is bound to face litigation as it fails the test of proportionality under Article 19(1)(g). Instead of safeguarding consumers, it dismantles compliant onshore companies while opening the door wider for illegal offshore betting platforms that are the real source of financial harm,” said Meghna Bal, director of the New Delhi-based think tank Esya Centre.

Article 19(1)(g) of India’s Constitution guarantees citizens the right to practice any profession or carry on any occupation, trade or business.

Ahead of the bill’s introduction in the Indian Parliament, industry bodies wrote to Prime Minister Narendra Modi, urging him to intervene. The letter — sent by the Federation of Indian Fantasy Sports, All India Gaming Federation and E-Gaming Federation warned that the proposed legislation could benefit “illegal offshore gambling operations” while forcing Indian businesses to shut down. These industry bodies represent Dream Sports, MPL, WinZO, Gameskraft, Nazara Technologies and Zupee, among other real-money gaming companies.

“By shutting down regulated and responsible Indian platforms, it will drive [millions] of players into the hands of illegal matka networks, offshore gambling websites, and fly-by-night operators who operate without any safeguards, consumer protections, or taxation,” the letter stated. (Matka is a form of illegal gambling that originated in India, involving betting on random numbers.)

The three industry bodies estimated that real-money gaming startups in India have a combined enterprise valuation of ₹2 trillion (approximately $23 billion), generate cumulative revenues of ₹310 billion (around $3.6 billion), and contribute ₹200 billion (roughly $2.29 billion) annually in direct and indirect taxes. They also project a 28% compound annual growth rate that would double the industry’s size by 2028. The industry groups warned that the blanket ban could result in the loss of more than 200,000 jobs and the closure of over 400 companies.

A similar letter was also written to Indian Home Minister Amit Shah by these three industry associations.

The bill was passed by voice vote in a noisy lower house less than seven minutes after it was introduced for debate. It now requires approval from the upper house and the president to become law.

Meanwhile, some companies in casual gaming and esports have welcomed the move.

“We applaud this decision as it allows us to focus on the ongoing concerns as a business — monetization, retention, and most importantly, building great IP for India and the world, rather than having to explain to our audiences what we are to begin with,” said Sumit Batheja, CEO and co-founder of Ginger Games, which is part of Krafton’s Indian gaming incubator and makes hyper casual games.

Krafton is the South Korean gaming company behind the popular battle royale game PUBG.

In 2023, the Indian government amended the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021, to curb “user harm” from real-money games and proposed self-regulatory bodies to limit illegal betting and gambling while allowing legitimate games. However, the self-regulation approach faltered due to conflicts among industry stakeholders over enforcement and standards.

New Delhi imposed a 28% tax on online gaming in 2023 to curb real-money play, prompting an outcry from industry stakeholders. Top investors — including Tiger Global, Peak XV Partners and Kotak — urged Modi to reconsider, warning of $2.5 billion in write-offs and the potential loss of one million jobs. The tax, however, remained in place, even as companies challenged its retrospective application in the Supreme Court. Recent reports suggest it may be revised upward to 40% under new rules.

The post India Bans Real-Money Gaming appeared first on European Gaming Industry News.

Continue Reading

Asia

Indonesia Prepares VPN Laws to Crack Down on Illegal Online Gambling

Published

on

indonesia-prepares-vpn-laws-to-crack-down-on-illegal-online-gambling
Reading Time: 2 minutes

 

Indonesia is preparing to introduce new rules targeting the use of Virtual Private Networks (VPNs), to crack down on the broader access to illegal online gambling. The move signifies a stronger push by authorities to tighten internet oversight amid growing concerns over unregulated digital activity.

While officials have not really explicitly mentioned gambling platforms, the intention seems to be clear. The aim of the move is to restrict tools that allow Indonesians to bypass government firewalls and access banned content. As the country battles a surge in illegal online gambling, VPNs have become a major target in the regulatory issue.

Indonesia currently ranks as the third-highest user of VPN services worldwide, behind only the UAE and India. A 2024 report by Windscribe, a global VPN provider, found that roughly 41% of Indonesian internet users use VPNs. This tool is largely used to bypass state-enacted censorship and access geo-blocked websites.

Online gambling, is strictly banned under Indonesian law, but is still thriving via VPN-enabled access to international platforms. These tools allow users to hide their digital footprints, and makes it challenging for authorities to enforce law.

“VPNs are being misused to reach sites and apps that are clearly illegal. We are developing a framework to ensure their usage aligns with the law,” said Semuel Abrijani Pangerapan, Director General of Informatics Applications at the Ministry of Communication and Informatics, in a recent statement.

The upcoming regulations, which are currently under ministerial review, aim to restrict VPN use by requiring providers to register with the government. Unregistered VPN services could be blocked outright. Officials are also considering legal consequences for users found accessing restricted services via unlicensed VPNs.

As for now, no timeline has been officially announced. But local media has reported that draft rules may be finalized by the end of the year.

The current online gambling environment in Indonesia is vast, and mostly hidden. Users often access offshore platforms hosted in regions with lenient enforcement. These platforms promise anonymity, instant payouts, and enticing rewards, thus driving a cycle of addiction and financial ruin for many.

The post Indonesia Prepares VPN Laws to Crack Down on Illegal Online Gambling appeared first on European Gaming Industry News.

Continue Reading

Trending