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Members pushed the government for further action to block illegal websites, in the same way it provides power to quickly address terrorist and child pornography sites.
Members advocated for stronger powers to be given to Kansspelautoriteit (KSA), the regulator of gambling in the Netherlands, with tougher action taken against payment providers, social media sites and affiliates that facilitate illegal gambling.
Van Bruggen revealed the cabinet was in the process of developing legislation to introduce DNS blocking for illegal sites, with a consultation due for early 2027.
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A US listing can improve access to capital without making the underlying business more attractive. London has a capital-markets problem. Gambling has an investment problem. The two overlap, but they are not the same thing.
Frank Fantini, founder and publisher emeritus of Eilers-Fantini, thinks the change began before Covid. “There is a tendency to look at the world as pre-Covid and post-Covid,” he says. “But the decline in gaming began earlier than that with the slowdown in new jurisdictions and new projects.”
The US land-based casino market had begun to mature and the number of obvious new markets and projects was shrinking. Online gambling offered a new source of growth, particularly through the expansion of legal sports betting. That opportunity was quickly reflected in share prices.
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Although the late LVS chairman and CEO Sheldon Adelson hailed the Japanese market as “a holy grail” and the “ultimate of business opportunities”, the company dropped out of the game, scrapping its pledged $10 billion project.
Japan has drawn on Singapore’s IR development model, which embodies a balancing act between ambitious economic visions and restrictive conditions. But Andrew Klebanow, principal of Klebanow Consulting, believes Japan’s IR regulations swerved “too far into crafting regulations and policies”. Klebanow specialises in hotel-casino market feasibility studies, strategic planning and facility planning recommendations.
“As the RFP process played out, regulators introduced additional policies and regulations. As each regulation was introduced, developers adjusted their gaming forecasting models downward. Finally, those models reached a tipping point where potential revenues were insufficient to justify a project’s capital costs,” says Klebanow.
