The casino market in Asia finally showed signs of recovering in early 2023 after taking a massive blow during the COVID-19 pandemic. Top gaming markets in Macau, Singapore, Philippines and South Korea saw their gross gaming revenues recover and bounce back strong as the year progressed.
Macau Back To Being Biggest Gaming Market
Macau was considered the biggest gambling market in the world in terms of gross gaming revenue but lost that place due to the COVID-19 pandemic and the fact that China cracked down on its VIP and junket casino operators.
Macau’s casinos have managed to get over those setbacks and have once again taken the number one position as the biggest gaming market in the world in 2023. Macau’s casinos have focused on the mass market gaming sector and the six gaming operators committed in 2023 to focus on international markets and boost their non-gaming offerings.
Japan and Thailand Moving Forward with Legislation
Japan is touted to become one of the most attractive gaming markets in Asia but things are moving very slowly. Japan has approved Osaka to host an integrated resort and MGM Osaka is likely to open its doors to the public in 2030. Nagasaki who applied for an IR permit did not get approval and was turned down in December.
Thailand has continued to make moves to legalize casinos and legislators will take up the cause once again in 2024.