In a brave move this week, Timor-Leste, the youngest country in Southeast Asia, has charted a course to become a key player in the global iGaming industry.
The nation is set to establish the Virtual Gaming Association (VGA) of Timor-Leste, marking a significant stride towards creating a robust framework for licensing and professional support services within the iGaming sector.
This pivotal development is poised to shape Timor-Leste as the newest hub for the iGaming industry, with the VGA working to establish policies and best practices for the licensing and regulation of iGaming activities within the country.
To ensure global standards and garner industry insights, key stakeholders involved in this transformative process are currently participating in the SiGMA tradeshow in Malta. The tradeshow serves as a platform for the Timor-Lestedelegation to engage with international gaming operators, gathering valuable feedback that will play a crucial role in refining the country's iGaming policies.
The ultimate goal is to position Timor-Leste as a globally recognized and iGaming-friendly licensing jurisdiction.
Highlighting this monumental step, Timor-Leste’s Ambassador to Indonesia, H.E. Filomeno Alexio, took center stage at the Malta Experts Insight summit. Alongside industry experts Antonio Sampaio of Capital S, Richard Leather of TheRegulationService, and Patrice Rodrigue of Angular Legal, the panel addressed questions about the jurisdiction's foray into the iGaming landscape.
The insightful discussion followed an impactful introduction by Timor-Leste’s President and Nobel Laureate, Jose Ramos-Horta, who addressed the audience through an 8-minute video. President Ramos-Horta emphasized Timor-Leste's unique position in Asia and the opportunities that lie ahead for the nation.
With two-thirds of its population under 30, Timor-Leste's untapped potential presents significant prospects for the establishment of call centers, data centers, and the development of a luxury resort and casino.
This move not only positions Timor-Leste as an emerging player in the iGaming industry but also underscores its commitment to fostering economic growth and innovation.
As the VGA takes shape and the nation embraces its role in the global iGaming landscape, Timor-Leste is poised to make waves, offering a dynamic environment for operators in Asia and setting the stage for a new era of economic development.
Source:
“Timor-Leste – The Newest Global iGaming Jurisdiction”, igamingfuture.com, November 14, 2023.