Citic Telecom International Holdings Ltd. (1883:HK) has decided to buy 79% of Macau phone operator CTM for the noteworthy amount of USD $1.16 billion. While Citic certainly sees the landline phone monopoly as a relatively stable revenue source, the real profits to be had are expected from Internet and wireless services, as Macau residents and visitors are pushing the demand for quick mobile gambling access. Mobile phone ownership is already three times higher than the area’s population of 568,000 inhabitants, so the demand is clearly very intense.
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Singapore police have busted at least two illegal gambling operations in the past week, while across Asia authorities have moved to stamp out illicit activities, from raids on premier league matches in India, to illegal number forecasting in Malaysia.
The Puducherry union territory government has urged the union government to ban online gaming platforms and mobile apps, describing it as a necessity to protect the mental health of vulnerable people.
The next edition of the AGB Webinar Series will look at the future of iGaming customer acquisition and retention, which has been going through a transition period over the last year.