Ecuador is contemplating the possibility of lifting its ban on gambling, as proposed by President Daniel Noboa. The head of state submitted a list of 11 questions to the Constitutional Court, with the final query addressing the gambling sector.
This question reads: “Do you agree to allow casinos, gambling halls, bookmakers, or gambling businesses to operate?”
It’s worth noting that Ecuador had 32 casinos and gambling halls until March 17, 2012, when they were closed following a referendum on May 7, 2011. The referendum, initiated by former President Rafael Correa, resulted in 45.76% voting in favour of banning casinos, while 41% opposed the ban.
Since the prohibition, Ecuadorian gamblers have been visiting casinos in neighbouring Peru and Colombia. Analysts estimate that currently players from Ecuador contribute to approximately 15% of the gambling revenue in these countries, amounting to $45 million. This calculation excludes the spendings of Ecuadorians on online gambling, which is not officially regulated.
Earlier it was reported that the Argentine province of Santa Fe legalised online gambling.
Meanwhile, JP Morgan Securities has reported a robust start for Macau’s gambling industry in 2024, with a gross gaming revenue of 4.4 billion patacas recorded in the first seven days of January. The daily income for the month reached 630 million patacas, surpassing December 2023’s record of 599 million patacas. Analysts attribute this growth to increased footfall during the New Year holidays.
JP Morgan Securities indicates that the gross income in early January stands at 105-110% of the pre-pandemic levels of 2019. Despite the anticipated seasonal slowdown for the rest of January, JP Morgan Securities maintains a positive outlook, forecasting a total gross income ranging from 17.5 to 18 billion patacas for the first month of 2024.
