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Timor-Leste establishes VGA for iGaming licensing, professional support

November 15, 2023 Southeast AsiaWorld Emerging MarketsiGaming & Gambling

The Virtual Gaming Association (VGA) is being established in Timor-Leste to act as a new center for professional support services and iGaming licensing.

With regard to iGaming license and regulation nationwide, the VGA aims to provide a thorough framework of best practices. Key stakeholders, including representatives of the VGA, are meeting with international gaming operators at the SiGMA show in Malta, where this significant step is being taken.

By their involvement, Timor-Leste’s iGaming regulations will be developed with industry feedback and helpful suggestions in mind.

H.E. Filomeno Alexio, the ambassador of Timor-Leste to Indonesia, who was present at the recent Malta Experts Insight session, is one prominent person involved in this effort.

During the event, experts including Richard Leather of The Regulation Service, Patrice Rodrigue of Angular Legal, and Antonio Sampaio of Capital S answered inquiries on this growing jurisdiction.

The conference began with a video greeting from Nobel laureate and President of Timor-Leste, Jose Ramos-Horta, highlighting the nation’s distinct standing as an iGaming jurisdiction in Asia. Given that two-thirds of the population is under 30, Timor-Leste’s demographics provide opportunities for the establishment of data centers, call centers, and upscale resorts and casinos.

Given the growing Asian casino industry, Timor-Leste hopes to take advantage of the gaming sector’s significant opportunities. Top Asian casinos for Q1 2023 include Marina Bay Sands, Venetian Macau, and Galaxy Macau. Macau usually outperforms Las Vegas in terms of monthly gross gaming revenue.

Related Article About: Southeast Asia

Original story by: Gambling Insider

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