A research report by Bloomberg contrasted the resurgence of various gaming sectors in Asia and revealed some unexpected outcomes. The analysis, delivered at a summit, emphasized the continuing comeback of casinos and integrated resorts within the area.
The Philippines exhibited a robust recovery, with gaming income attaining 79% of pre-crisis figures by the middle of 2022. Singapore similarly witnessed substantial expansion, reaching 68% of 2019 levels in the initial six months of 2022. Bloomberg projects that Singapore’s gaming sector will completely recuperate by 2024.
Nevertheless, Macau’s rebound has been inconsistent. Although the gambling center achieved 30% of 2019 earnings in 2021, this number dwindled to 18% in the first half of 2022. This decrease is ascribed to China’s financial difficulties and the repercussions of its zero-COVID approach.
Phnom Penh, the capital of Cambodia, experienced a high point in its gambling revenue share in 2020, reaching 51%. However, this figure drastically declined to a mere 13% in 2022. Despite a partial rebound to 27% by the middle of 2022, the significant effects of the global health crisis on the sector are evident.
The resurgence of gaming activities in various areas is also apparent in their projected tax income figures. Macau, as an illustration, imposes a substantial 40% levy on high-stakes players. Conversely, nations like the Philippines, Singapore, and Cambodia have embraced a more lenient strategy, implementing reduced, fluctuating tax rates for both recreational and affluent gamblers.
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