The Asian markets are buzzing with energy and enthusiasm, especially as they bounce back after the pandemic. Slotegrator offers an insightful look at these markets in 2024.
The ASEAN annual report from July 2023 paints a bright picture for the Asian economy. It’s set to grow by 4.7% in 2023 and 5% in 2024. This growth is echoed in the Southeast Asian online gambling market, which, according to Statista, is on track to hit US $1.23 billion in revenues in 2024.
Let’s dive into the key Asian markets that Slotegrator experts believe are worth watching closely.
China
China stands out in the Asian casino sector, even with its strict gambling laws. Chinese gamblers can only legally bet in Macau and Hong Kong. Macau, often referred to as Asia’s Las Vegas, primarily attracts high-rollers, and it’s expected to rake in over $26.8 billion in 2024. Hong Kong’s gambling scene is dominated by the Hong Kong Jockey Club. Mainland China, where gambling is largely illegal, sees its residents often turning to offshore platforms. China is also tightening its online gambling laws to tackle illegal activities.
Philippines
The Philippines’ gaming industry is recovering rapidly post-COVID-19. PAGCOR, the country’s gaming regulator, reported a record PHP 285.27 billion in gross gaming revenue (GGR) in 2023 and anticipates this to climb to PHP 336 billion in 2024.
Japan
Japan, the world’s third-largest economy, is increasingly opening up to gaming. Despite current gambling restrictions, the country legalized casino-based integrated resorts in 2018. The Japan Casino Regulatory Commission set the groundwork in 2021, and Osaka is expected to open its first resort by 2030.
India
India’s gaming market is projected to be worth $8-10 billion annually by 2028. The country’s approach to gambling is evolving, with the government amending laws in 2023 to introduce federal-level regulations. This includes the formation of self-regulatory bodies for online gaming and a uniform 28% GST on online gambling, casinos, and horse race betting.
The post What Are the Top Asian Gambling Markets to Focus on for 2024? appeared first on iGaming.org.