China’s ongoing crackdown on casinos and junkets targeting its nationals may have long-term implications for the industry in Asia and force changes in the business models of many of the region’s integrated resorts.
The Myanmar military-backed Karen State Border Guard Force says it has “withdrawn” its numerous resignations over the weekend, following the military’s request for a rethink. The issue is related to the Shwe Kokko new city development, which includes casinos.
The leadership of the Myanmar military-backed Karen State Border Guard Force has resigned en masse to protest the resignation of their leader Colonel Saw Chit Thu, who had been under pressure over the China-backed Shwe Kokko new city project, including casinos.
The U.S. Treasury Department has officially sanctioned Wan Kuok Koi, also commonly known as “Broken Tooth,” and his Hong Kong-based company Dongbei Group for corruption and bribery. The U.S. says Broken Tooth is the leader of the 14k Triad Group and his company is behind a major investment project in Myanmar involving casinos.
Malaysia and Dubai are both being viewed as potential bases for online gambling operations, as an alternative to the Philippines, where the cost of doing business has risen to a level considered as unacceptable by many operators.
It’s been billed as a $15 billion smart city, powered by the latest in blockchain technology, but in reality it has emerged as a major online gambling hub and the new home to many of the operations that fled Cambodia after a ban on the practice last year.
After decades of isolation, Myanmar is emerging as a frontier tourism market and Asia’s latest gaming jurisdiction and although significant challenges lie ahead, there are reasons to be optimistic for its potential.
The entry into force of the new regulation has finally opened up the Myanmar gaming landscape to wider foreign participation. Casinos will now be allowed to operate after obtaining approval from the Union Government.