government’s decision to increase the annual casino licence fees from MYR120m to MYR150m, and machine dealer's licence fees to MYR50,000 a year from MYR10,000 a year.
Due to Covid-19, Malaysia closed its international border for a few months. Tis worsens the situation for the gambling industry given that approximately 60 per cent of the Malaysian population are Muslims and they are not allowed to gamble.
If a Muslim is implicated in the activity or has harboured money gained through gambling activities, he or she is punishable under the Islamic Syari'ah law. As such, the Malaysian gambling industry relies heavily on the non-Muslims in Malaysia and foreign tourists.
Even though in June 2020 Malaysia had slowly reopened its international border with restrictions, there is still ongoing social distancing and other standard operating procedures in place for casino operators. Hence, the recovery of the gambling industry would largely depend on the border
measures and the return of foreign tourists and as such it is uncertain when the gambling industry will fully recover.
Given the massive 17.1 per cent gross domestic product (GDP) contraction in the second quarter 2020 (2Q20), and the uncertainty in the economy, Malaysian consumers have also shifted their spending power to mainly essential goods and services.
Despite online gambling becoming a growing phenomenon in Asia, there are no clear provisions regulating online gambling in the country.
Te Common Gaming House Act 1953 and Betting Act 1953 prohibit gambling activities without a license from the government. With the prohibition of online gambling in Malaysia, the operators in the gambling industry are denied the option of moving their businesses online. Te Malaysian gambling industry would have a better chance of recovering if the Malaysian government were to legalise online gambling, which is very unlikely.
Due to Covid-19, Malaysia closed its international border for a few months. This worsens the situation for the gambling industry given that approximately 60 per cent of the Malaysian population are Muslims and they are not allowed to gamble.
Gambling GGR data 2018 Casino
Berjaya Sports Toto
RM7.18bn RM3.64bn
NEWSWIRE / INTERACTIVE / MARKET DATA P61
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