Asia Gaming Weekly News Bulletin – ISSUE 27 Week of 11 August 2025
(1) Travellers Group Takes Majority Stake in Manila LETX Casino to Operate
Travellers International will acquire a majority stake in Manila’s delayed LETX casino resort to rescue the project, providing funding and operational expertise to complete the $1.25B development while allowing current stakeholder Suntrust to retain minority ownership.
(2) Philippine Senate to start hearings on online gambling bills
The Philippine Senate begins hearings this week to address online gambling’s “crisis” with potential bans, while President Marcos pursues balanced regulation through stakeholder talks to curb social harms without fueling illegal markets.
(3) City of Dreams Sri Lanka could become “India’s Macau” if regulation, ethics, and economic gains align: Expert
The launch of City of Dreams Sri Lanka, South Asia’s first integrated resort, could transform the island nation into “India’s Macau” — but its success hinges on the government’s ability to balance regulation, ethics, and economic opportunity.
(4) South Korea’s Inspire casino appoints ‘chief transformation officer’
Inspire Entertainment Resort in South Korea has named Sangwon Lee as chief transformation officer, effective Monday.
(1) Travellers Group Takes Majority Stake in Manila LETX Casino to Operate
(Photo Credit: The LETX development, Inside Asian Gaming)
Travellers International (owner of Newport World Resorts) will acquire a majority equity stake in Manila’s delayed LETX integrated resort through a subsidiary, partnering with Philippine-listed Suntrust Resort Holdings to secure the project’s completion. The takeover addresses severe setbacks – including pandemic impacts and construction cost overruns that ballooned the budget from US1BtoUS1.25B – which forced Suntrust (51% owned by Hong Kong’s LET Group) to delay LETX’s opening to Q3 2026. Under the pending agreement, Suntrust retains a minority interest while Travellers provides funding and operational expertise to finish the Westside City development.
The urgency stems from critical funding gaps: LET Group invested US$688M by April 2025 – just over half the total required – leaving construction stalled. Travellers, which owns the land beneath LETX, viewed project continuity as essential given its strategic expansion in the Philippines (including upcoming resorts in Cebu and Boracay). The move aligns with Travellers’ strong market position; its Newport property recently outperformed Solaire in 2025 Q2 GGR share, demonstrating operational credibility to resurrect LETX.
The restructuring creates a win-win scenario: Travellers expands its Entertainment City footprint without land acquisition costs, Suntrust gains a lifeline to eventually recoup investments, and subcontractors owed payments secure a new funding source. LET Group Chairman Andrew Lo proactively initiated talks to resolve the crisis, ensuring the project’s survival while preserving Suntrust’s minority stake and future revenue potential.
News Source: http://Travellers Group set to take majority equity position in development of Manila’s LETX hotel and casino to pave completion roadmap, planned to become operator upon launch – IAG
(2) Philippine Senate to start hearings on online gambling bills
(Photo Credit: Senate Public Relations and Information Bureau)
The Philippine Senate Committee on Games and Amusement, chaired by Senator Erwin Tulfo, will begin hearings this Thursday (August 14) to address the “worsening crisis” of online gambling. The committee will review four bills and three resolutions calling for a ban or stricter regulation of the industry, alongside a privilege speech detailing its social harms. Government agencies including the Department of Finance and PAGCOR (Philippine Amusement and Gaming Corporation) will be directed to submit cost-benefit analyses addressing economic impacts, employment consequences, and societal costs.
Senator Tulfo emphasized the urgency, stating, “This is already a crisis… We need to act to solve this problem,”and committed to prioritizing these measures. Meanwhile, President Ferdinand Marcos Jr. announced plans for a stakeholder meeting to explore balanced policy solutions that mitigate social harms without triggering a full ban, which could fuel unregulated markets. The President specifically cited the need to protect vulnerable groups while maintaining regulatory control, acknowledging the complexity of the issue.
President Marcos’s proposed stakeholder conference will include representatives from the Catholic Bishops’ Conference (CBCP), parents of affected youth, and regulatory bodies. Its goal is to finalize a policy framework that addresses gambling addiction, prevents underage participation, safeguards public welfare, and avoids inadvertently expanding illegal operations. This dual-track approach—combining Senate scrutiny with executive-led stakeholder collaboration—reflects the government’s effort to systematically evaluate all regulatory options amid growing societal pressure.
News Source: https://focusgn.com/asia-pacific/philippine-senate-to-start-hearings-on-online-gambling-bills
(3) City of Dreams Sri Lanka could become “India’s Macau” if regulation, ethics, and economic gains align: Expert
(Photo Credit: Asia Gaming Brief)
The $1.2 billion City of Dreams Sri Lanka – South Asia’s first integrated resort – officially opened on August 2nd as a collaboration between Melco Resorts and John Keells Holdings. Melco Chairman Lawrence Ho positioned it as a potential “India’s Macau,” leveraging Sri Lanka’s geographic proximity and cultural ties to target high-spending tourists from India (where Chennai/Bangalore are closer to Colombo than to Goa). Tourism expert Dharshana Weerakoon acknowledged the aspirational comparison has merit given improving air connectivity, but emphasized success requires regulatory clarity, balanced ethics, and infrastructure development mirroring Macau’s model.
The resort marks a strategic pivot for Sri Lanka, shifting from traditional cultural/heritage tourism toward a high-yield, short-stay model featuring 800 hotel rooms, gaming facilities, luxury retail, and 17 dining venues. Weerakoon described it as a “transformative milestone” centralizing premium experiences to attract time-constrained, high-net-worth visitors. Success hinges on metrics like Average Daily Spend and Tourism Receipts per Visitor, with potential to boost adjacent sectors through curated luxury excursions (wildlife safaris, private heritage tours) if local businesses upgrade service standards.
Weerakoon cautioned that regulatory consistency and managing cultural backlash against gaming are critical hurdles, alongside currency volatility and infrastructure gaps. The resort’s 20-year gaming license requires careful balancing of economic opportunity ($1.25B private investment) with social responsibility. If integrated into a broader national strategy with transparent regulation and human capital investment, it could propel Sri Lanka into “Asia’s premier league of high-value tourism destinations,” though failure to address risks could limit its transformative potential.
News Source: https://agbrief.com/intel/deep-dive/12/08/2025/city-of-dreams-sri-lanka-could-become-indias-macau-if-regulation-ethics-and-economic-gains-align-expert/
(4) South Korea’s Inspire casino appoints ‘chief transformation officer’
(Photo Credit: igamingbusiness)
Inspire Entertainment Resort in Incheon, South Korea has named Sangwon Lee as chief transformation officer. According to Chosun Biz, Lee’s resume includes stints at McKinsey & Company, LG Electronics and Serveone. There he “improved growth strategies and internal operational efficiency”.
Lee graduated from Seoul National University with a master’s degree in electrical engineering. He also earned an MBA from Columbia University in the US. He has worked with 30-plus major corporations on M&A, business strategy and operational systems enhancements. At Inspire South Korea, he is charged with building organisational efficiency and cooperation “to boost competitiveness and drive sustainable growth”.
As chief transformation officer, Lee will be in charge of strategic planning, data analysis and IT in a quest to improve visitation to the resort, including the casino. CEO Si said “his exceptional expertise and leadership” will mark “a significant turning point for Inspire’s growth”. “Moving forward, we will work with this CTO to further strengthen our global competitiveness and continue our growth and innovation,” Si said.
News Source: https://igamingbusiness.com/casino/south-korea-inspire-casino-chief-transformation-officer/
