A research report by Bloomberg contrasted the resurgence of various Asian gaming sectors and unveiled unexpected results during a G2E Asia presentation.
The Philippines demonstrated a robust comeback, with gaming income hitting 79% of 2019 figures by the middle of 2022. Singapore’s gambling sector also experienced substantial expansion, achieving 68% of pre-pandemic numbers in the initial six months of 2022. Bloomberg projects that Singapore will attain full recuperation by 2024.
Conversely, Macau’s revival has been more unpredictable. Although it reached 30% of 2019 levels in 2021, this number plummeted to 18% in the first half of 2022, probably because of China’s economic difficulties and COVID-19 restrictions.
Although plummeting to 13% in 2022, and only achieving 27% by the middle of 2022, Phnom Penh, the capital of Cambodia, exhibited a 51% surge fueled by starting figures in 2020. This corresponds with the effects of the Covid-19 pandemic on the nation.
The resurgence in specific areas can also be comprehended through the perspective of taxation policies. Macau, as an example, levies a substantial 40% tax on high-stakes gambling income. Conversely, locations such as the Philippines, Singapore, and Cambodia possess more advantageous and adaptable tax frameworks for both recreational gamblers and VIP patrons.
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