The Genting Group Malaysia reports losses after being hit hard by the coronavirus pandemic and the measures put in place to reduce its spread. Even into 2021, the Group as a whole is still feeling the impacts of many countries going into lockdown in early 2020. Despite the struggle, the Group in Malaysia and worldwide is attempting to make a recovery as the country restrictions slowly start to ease.
Genting’s Global Casino Revenue Plummets
Land-Based Casino Reporting Losses Globally While Online Gambling Increases
Across the world, the global pandemic is responsible for land-based casino closures with major gambling cities such as Las Vegas and Macau also reporting losses. Once meccas for tourists and gamblers, these mega casino cities are now reporting huge losses. However, online gambling around the world online gambling is holding up most casino industry’s overall revenue as casino players begin to play at mobile casinos.
In Singapore and Malaysia, websites such as Live22 are seeing a massive increase in players, while competitors using Playtech live dealer studios for live webcam online blackjack, roulette, baccarat, and poker games are seeing a remarkable increase in players logging onto online casinos such as Ace333 and Joker123 both of which use Playtech Live and Playtech slot titles.
The question remains, should online gambling be made legal in Malaysia? It would surely give the government a solid tax base, and seeing as the country already allows land-based casinos to operate, there should not be any reasons why regulated online gambling could become an option as it has in places like the Philippines.