The nation of Timor-Leste is positioning itself as the latest hub for licensing and professional support services in iGaming.
The Virtual Gaming Association (VGA) of Timor-Leste is set to be established to create a framework of best practices for iGaming licensing and regulation in the country.
This development marks a crucial step for Timor-Leste, with key stakeholders, including representatives from the VGA, currently attending the SiGMA tradeshow in Malta.
The purpose of their presence is to engage with global gaming operators, gather industry feedback and incorporate insights into the formulation of iGaming policies in Timor-Leste.
The initiative is underway with the active involvement of figures such as Timor-Leste's Ambassador to Indonesia, H.E. Filomeno Alexio, who recently participated in the Malta Experts Insight summit.
The summit also featured Antonio Sampaio of Capital S, Richard Leather of The Regulation Service and Patrice Rodrigue of Angular Legal – who collectively addressed queries related to this new jurisdiction.
The summit commenced with an introduction by Timor-Leste's President and Nobel Laureate, Jose Ramos-Horta, who conveyed via video his thoughts on the country’s unique position in Asia as an iGaming jurisdiction.
In Timor-Leste’s demographics report, two-thirds of the population is under 30 and the country sees opportunities for the establishment of call centres, data centres and the development of a luxury resort and casino.
In context, the Asian casino market has been a focal point of notable opportunity within the gaming sector in Asia, with Macau consistently outperforming Las Vegas in monthly gross gaming revenue. The top-ranking casinos in Asia, based on Q1 2023 revenue, include Marina Bay Sands, Venetian Macau and Galaxy Macau.
