{"id":254,"date":"2024-06-27T02:16:50","date_gmt":"2024-06-26T23:16:50","guid":{"rendered":"https:\/\/jumbabetnodepositbonus.icu\/2024\/06\/27\/the-path-to-ice-2024-the-rising-influence-of-the-asian-casino-market\/"},"modified":"2024-06-27T02:16:50","modified_gmt":"2024-06-26T23:16:50","slug":"the-path-to-ice-2024-the-rising-influence-of-the-asian-casino-market","status":"publish","type":"post","link":"https:\/\/jumbabetnodepositbonus.icu\/2024\/06\/27\/the-path-to-ice-2024-the-rising-influence-of-the-asian-casino-market\/","title":{"rendered":"The Path to ICE 2024: The Rising Influence of the Asian Casino Market"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/dF44G9gTRVw\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>The Path to ICE 2024: The Rising Influence of the Asian Casino Market<\/p>\n<p>In the lead-up to ICE, iGB will be getting you ready for the most significant event of 2024 with this new series, highlighting the most recent developments since the 2023 event.<\/p>\n<p>Home > Casino &#038; Gaming > The Path to ICE 2024: The Rising Influence of the Asian Casino Market<\/p>\n<p>The Path to ICE 2024: The Rising Influence of the Asian Casino Market<\/p>\n<p>Southeast Asia has exhibited a strong recovery in 2023, as the pandemic subsides. Notably, when contrasted with the former giant, Macau.<\/p>\n<p>We covered this extensively at iGB this year; Southeast Asia is set to be the driving force of growth in the Asian gaming sector for the foreseeable future.<\/p>\n<p>The region undoubtedly possesses all the advantages. It combines rapidly expanding economies, top-tier gaming resorts, and alluring tourist destinations, worthy of any social media post.<\/p>\n<p>Economic expansion is one of the primary catalysts behind this post-pandemic resurgence. The Association of Southeast Asian Nations (ASEAN) is projected to surpass Japan in the next decade.<\/p>\n<p>Demographics reveal the rationale. Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam, with a combined population exceeding 660 million, currently have a collective GDP surpassing $3.3 trillion (\u00a32.7 trillion\/\u20ac3.1 trillion). This makes it the world&#8217;s fifth-largest economy, just behind India, and 50% greater than Canada or Brazil.<\/p>\n<p>The group&#8217;s economy expanded by 5.2% last year and is anticipated to grow by 4% this year. <\/p>\n<p>This year, an increase of 7%, 5% in 2024. These encouraging figures are from the ASEAN annual report released in July.<\/p>\n<p>The Philippines is at the forefront of Asian gaming.<br \/>\nThe Philippine islands are a prime example of this trend and continue to be a leader. Last year, Bloomberry added Solaire North in Quezon City and will construct a resort in Cavite province, south of Metro Manila.<\/p>\n<p>NuStar in Cebu City, the Philippines&#8217; second largest urban center, opened lodging and gaming facilities last year and plans to build two more hotels, as well as luxury retail and MICE facilities.<\/p>\n<p>Clark, a two-hour drive north of Manila, is a weekend escape destination with its own international airport and has six newly built or recently renovated gambling establishments.<\/p>\n<p>Hann Resorts transformed its long-standing Widus casino in 2021 into the region&#8217;s first integrated resort, with multi-billion dollar expansion plans including high-end hotels, golf courses and luxury residences. Competitor D\u2019Heights combines residential and hotel accommodations and plans to add more such facilities.<\/p>\n<p>The China Factor and Gambling<br \/>\nHowever, when it comes to the Philippines and Philippine Offshore Gaming Operators (POGOs), China is a factor that cannot be disregarded.<\/p>\n<p>The two nations remain at odds over the issue of POGO. Former President Rodrigo Duterte in 2019 declined a direct request from Chinese President Xi Jinping to shut down POGOs. Continued offshore gambling now threatens the return of Chinese travelers, who made up 21% of Philippine tourists before the pandemic. <\/p>\n<p>Ferdinand Marcos Jr. has not yet explicitly articulated his position on Philippine Offshore Gaming Operators (POGO). Although numerous Senate discussions have emphasized the industry&#8217;s potential risks, including financial crimes, Marcos has remained quiet. <\/p>\n<p>A January session revealed that POGO earnings fell significantly short of government projections. In the previous year, monthly POGO income was approximately $6.25 million, whereas the anticipated revenue was over $50 million. The industry has contracted to less than half its peak size, with an estimated gross gaming revenue of $1.8 billion in the previous year.<\/p>\n<p>Amidst increasing public discontent and persistent pressure from the Chinese government, Marcos should consider two crucial aspects of Philippine offshore gaming. Even with the best intentions and technological advancements, operators struggle to prevent wagers from China. Accepting bets from China is even more challenging.<\/p>\n<p>Halting offshore gaming is a central component of President Xi Jinping&#8217;s campaign against gambling and illicit capital flight. To comply, industry experts recommend that the Philippines mandate POGO to block Chinese users from accessing their online platforms.<\/p>\n<p>Sign up for the iGaming news newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Path to ICE 2024: The Rising Influence of the Asian Casino Market In the lead-up to ICE, iGB will be getting you ready for the most significant event of 2024 with this new series, highlighting the most recent developments since the 2023 event. Home > Casino &#038; Gaming > The Path to ICE 2024: [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ICE 2024: Asian Casino Market Boom<\/title>\n<meta name=\"description\" content=\"Discover the rising influence of the Asian casino market in the lead-up to ICE 2024. 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