SiGMA’s Asia Summit is one of the region’s largest annual industry conventions. Set in the heart of Asia’s iGaming capital, Manila, the event first debuted in 2023, and this year it celebrated its second run by nearly doubling the number of attendees.
With over 17,000 delegates (51 percent of them C-level), 3,800 operators, 450 exhibitors and 350 speakers present, the PAGCOR-endorsed event has fast become a vibrant and vital platform for regional stakeholders to exchange expertise, discuss trends and regulations, and network.
Neil Shih, SiGMA’s Managing Director for Asia, is the driving force behind the event’s growth and success.
iGamingFuture’s Head of Content Curtis Roach took the opportunity to discuss the importance of the SiGMA Asia Summit with Neil and ask his views on how regulation and established frameworks can help develop the region’s iGaming industry and explore the trends that are changing Asia’s dominant land-based industry and impacting nascent iGaming.
Why was it so important for the industry to attend SiGMA Asia Summit this year? How did it help gaming stakeholders to succeed in Asia going forward?
“The event was incredibly well-received by the industry, with 17,000 delegates attending the June summit. SiGMA’s networking events are renowned in the industry, and there was certainly no shortage of opportunities for delegates to connect and strengthen relationships.
“In addition to several dinners, we also held a prestigious gala awards ceremony and auction, which brought together some of the best-known faces in the sector. More relaxed day events, such as a VIP golf tournament and wine and cheese tasting activity, allowed delegates to break the ice ahead of the 2-day expo and conference.
“Following the success of last year’s event, we increased our footprint to create two levels of expo that incorporated a wider diversity of exhibitors, bringing more cross-pollination opportunities for delegates looking to explore new niches. This reflects wider trends in the region that are seeking to bridge industries – particularly those of online gaming with land-based, as well as with new emerging technologies, such as blockchain and AI.”
Do you think a blueprint has already been set for land-based sectors? How will this help the sustained growth of emerging markets like this?
“Established frameworks can significantly benefit the sustained growth of emerging markets. Adapting existing regulatory frameworks and integrating technological advancements can provide clarity and reduce risk, facilitating a smoother and quicker establishment of robust gaming laws and operational efficiency. Implementing a proven blueprint can help gaming markets gain consumer trust more quickly, boosting confidence in the market and driving additional revenue and growth. In turn, this is likely to attract significant investment, with investors more likely to fund ventures in markets that follow recognised standards and practices.”
The biggest factor to impact the growth of a market is the regulation that governs it. What are your thoughts on the current regulatory landscape in key growth areas across Asia? How will this impact the growth of the iGaming region going forward?
“The Philippines, in particular, is a jurisdiction that continues to lead the charge for the casino sector and is all set to take the crown as the biggest growth market in Asia this year. The projected rise in gross gaming revenues (GGR) in the Philippines indicates a robust trajectory for the nation’s gaming industry.
“With GGR surpassing pre-pandemic records in 2023 and continued growth anticipated in 2024, the landscape is poised for sustained expansion. The introduction of new integrated resorts (IRs), such as Solaire North in Quezon City and others in Clark and Cebu, further underscores the industry’s potential – placing the country second only to Macau when it comes to the number of IRs in operation.
“The Philippine Amusement and Gaming Corporation (PAGCOR) has reported a significant surge in its first-quarter income for 2024, reaching a staggering PHP25.24 billion (€408.5 million), marking a remarkable 42.57 percent increase compared to the same period last year. Markets across South East Asia will certainly seek to emulate the success seen in the Philippines, accompanied by strong interest from European and American operators looking to expand into the region.”
Asia is renowned for being a heavily land-based market. What new trends are you seeing within this sector, and how will this impact the growth of iGaming in the future?
“Once two very different sides of the gambling coin, online and land-based gambling sectors are now converging thanks to new technology, particularly omnichannel solutions that enable seamless transitions between digital and physical play.
“In Southeast Asia, esports is enhancing economic strength, with countries like Malaysia, Singapore, and the Philippines hosting major events that attract global audiences and substantial investments. This influx benefits not only the gaming industry but also sponsors, advertisers, and related sectors, creating jobs and stimulating growth.
“Additionally, mobile gaming’s popularity, driven by widespread smartphone use, offers lucrative opportunities for developers, content creators, and platform providers, transforming the region’s economic landscape.”
Editor’s Note:
Attending industry conventions allows stakeholders to connect and strengthen relationships. In newly regulating markets, this can create synergy between regulators and providers, help disseminate new tech and industry advances, and stimulate innovation.
While Asian gambling markets may be considered emerging, they’re not alone.
Neil suggests that jurisdictions looking to legalise or expand gambling legislation (he believes, for example, many in the region will follow the Filipino example) should learn from frameworks already in place, adapting them and integrating new technologies to quickly establish robust gaming laws at reduced risk, stimulating confidence and investment.
What about prominent trends in the region?
Neil sees the successful integration between the land-based and online sectors as a significant opportunity. With the two industries continuing to converge, online suppliers can capitalise on the popularity of Asia’s more dominant land-based casino market through integrated resorts and omnichannel solutions that provide “seamless transactions between digital and physical play.”
Esports is also a rapidly growing sector, capturing large audiences in Southeast Asia as many major events are held there. This popularity is driven by the sector’s ability to leverage the region’s love for multiplayer and social games, competition, and real-money betting.
Moreover, in his estimation, as mobile penetration rates continue to rise, mobile gaming offers “lucrative opportunities” for stakeholders to transform “the region’s economic landscape”.
