Asia Gaming Weekly News Bulletin – ISSUE 38 Week of 27 October 2025
(1) Malaysia police bust major online gambling development ring, arrest 147
PDRM raids in Klang Valley dismantle gambling syndicate, arresting 147 and seizing equipment. Charges include promoting gambling; further money laundering probes ongoing, highlighting Malaysia’s crackdown on illegal gaming operations.
(2) MGM China sees record results in 3Q25, boosted by increase in main floor table games drop
MGM China hits Q3 record with $284M EBITDAR, 15.5% share. Cotai VIP surges; Macau revenue up 12% despite VIP dip. Overall net revenues rise 17% to $1.08B.
(3) Macau Legend delays rights issue as it plans capital reorganization, change of domicile
Macau Legend delays rights issue to Dec 2025 amid reorganization and Bermuda shift. Aims to expand shares 50%; H1 2025 loss HK$1.42B highlights mid-tier gaming pressures.
(4) Ten months after the fact, Philippines officially enacts law banning POGOs
Philippines bans POGOs via RA 12312: repeals legalization, cancels licenses, deports workers, imposes heavy fines/jail. New committee enforces; builds on 2024 EO ending operations by Dec 31.
(1) Malaysia police bust major online gambling development ring, arrest 147
(Photo Credit: Asia Gaming Brief)
On October 9, 2025, the Royal Malaysia Police (PDRM) conducted raids across seven premises in Klang Valley’s Damansara and Subang Jaya, dismantling a major syndicate involved in developing online gambling platforms and supplying slot machines. The operation led to the arrest of 147 individuals aged 20-50, including 140 Malaysians and seven foreign nationals. Authorities seized 139 laptops, 182 mobile phones, 126 monitors, and other equipment, none of which were authorized by the Ministry of Finance for gambling-related activities.
The Bukit Aman CID’s D7 Division spearheaded the raids, uncovering evidence of domestic and cross-border illegal gaming operations. Three case files were opened under Malaysia’s Common Gaming Houses Act 1953, with 133 suspects charged for promoting gambling and criminal conspiracy. The seven foreign nationals also face immigration violation charges. Further investigations into potential money laundering charges are underway, reflecting PDRM’s commitment to curbing illegal gambling due to its social and psychological harms.
The operation highlights Malaysia’s intensified efforts to combat unauthorized gaming, with significant seizures and arrests disrupting a sophisticated syndicate. Kumar emphasized the broader societal risks of illegal gambling, urging public avoidance to mitigate moral and economic consequences, as authorities continue to probe the syndicate’s financial networks for additional violations.
News Source: https://agbrief.com/news/malaysia/27/10/2025/malaysia-police-bust-major-online-gambling-development-ring-arrest-147/
(2) MGM China sees record results in 3Q25, boosted by increase in main floor table games drop
(Photo Credit: Asia Gaming Brief)
MGM China reported record Q3 2025 results, achieving a segment-adjusted EBITDAR of $283.99 million, up from $237.35 million in Q3 2024, and a 15.5% market share. Net revenues reached $1.08 billion, a 17% increase year-over-year, driven by an 18% rise in main floor table games drop to $4.07 billion, boosting casino revenue to $947 million. The performance reflects strong recovery in Macau’s gaming sector post-pandemic.
At MGM Cotai, VIP table games turnover surged to HK$21.69 billion ($2.79 billion) from HK$15.04 billion, with win percentage rising to 4.4% and gross win at HK$952.72 million ($122.6 million). Main floor drop increased to HK$17.37 billion, yielding HK$4.54 billion in gross win despite a dip in win percentage to 26.2%. Property revenue climbed to HK$5.11 billion ($657.6 million), with adjusted EBITDA at HK$1.45 billion ($186.6 million). In contrast, MGM Macau saw revenue grow to HK$3.39 billion ($436.25 million) and EBITDA to HK$914.43 million, but VIP turnover fell to HK$6.08 billion with a 2% win rate.
MGM China’s Q3 success underscores VIP segment strength at Cotai, signaling confidence in high-rollers amid Macau’s tourism rebound, while Macau’s VIP dip highlights property-specific variances. The 15.5% market share gain positions MGM competitively against rivals like Wynn and Sands, though sustained growth hinges on economic stability and regulatory support in the Greater Bay Area.
News Source: https://asgam.com/2025/10/14/tom-arasi-to-join-galaxy-entertainment-group-as-cfo-with-ted-chan-to-step-down/
(3) Macau Legend delays rights issue as it plans capital reorganization, change of domicile
(Photo Credit: Asia Gaming Brief)
Macau Legend Development, a Hong Kong-listed casino operator, announced delays to its planned rights issue following a capital reorganization and shift of corporate domicile from the Cayman Islands to Bermuda. The reorganization reduces share nominal value from HK$1.00 to HK$0.01 to enhance capital structure and flexibility. The rights issue aims to expand shares by 50% to 930 million, offering one new share per two held on a fully underwritten basis, though prospectus issuance is postponed from October 31 to December 31, 2025.
Trading in nil-paid rights shares is now slated for January 5, 2026, with fully paid shares dealings starting January 26, 2026. A supplemental agreement with underwriters incorporates the revised timeline and requires full reorganization completion. Macau Legend, operating Legend Palace under SJM Holdings and the Fisherman’s Wharf complex, reported HK$1.42 billion net loss in H1 2025, after HK$622 million last year, amid liquidity strains and competition.
This delay reflects Macau Legend’s efforts to stabilize amid financial woes, with the reorganization providing restructuring breathing room but risking shareholder dilution and market scepticism. As mid-tier operators lag behind giants like MGM and Sands, the move signals desperation for liquidity, potentially eroding investor confidence if losses persist, though Bermuda’s domicile could offer regulatory advantages in Asia’s volatile gaming sector.
News Source: https://agbrief.com/news/macau/16/10/2025/macau-3q-casino-ebitda-to-rise-7-yoy-with-wynn-gaining-most-market-share-citigroup/
(4) Ten months after the fact, Philippines officially enacts law banning POGOs
(Photo Credit: Presidential Communications, Philippines)
Philippines President Ferdinand R. Marcos Jr signed Republic Act 12312 on October 28, 2025, permanently banning all offshore gaming operations (POGOs), repealing RA 11590 that legalized them. The law prohibits establishing, operating, or betting in POGOs; providing content/services; creating hubs; or possessing equipment. It cancels all prior licenses, revokes foreign workers’ visas/work permits for deportation, and mandates payment of outstanding taxes with BIR audits.
A new Administrative Oversight Committee, chaired by the Presidential Anti-Organized Crime Commission, will enforce the ban. Penalties include up to 8 years imprisonment and Php15M fine for first offense; 10 years/Php30M for second; 12 years/Php50M for third, with maximums for public officials. The Act cites protecting peace, human rights, and welfare, building on Marcos’ November 2024 Executive Order halting new licenses and ceasing operations by December 31, 2024.
This comprehensive ban addresses POGOs’ links to crime, human trafficking, and social harm, aligning with Marcos’ anti-crime agenda and regional shifts away from Chinese-targeted gaming amid geopolitical tensions. While boosting enforcement via the new committee, challenges remain in deporting thousands of workers and collecting taxes, potentially straining resources but enhancing the Philippines’ image as a regulated tourism/gaming hub focused on integrated resorts.
News Source: https://asgam.com/2025/10/15/nomura-mgm-withdrawal-boosts-genting-malaysias-new-york-license-odds-but-also-raises-questions-over-potential-returns/
