With nearly 5 billion people living in Asia, this region is a major market for many industries, including gambling. A report jointly released by Google and Niko Partners indicates that the region has 1.5 billion gamers.
During the recent SiGMA Asia in the Philippines, Stephen Crystal, founder and CEO of SCCG Management, shared his insights on the evolution of the gambling industry, the importance of technology and innovation, and the thriving Asian gambling market with SiGMA News.
Reflecting on his extensive career, Crystal emphasized the community-centered nature of the gambling industry. He said, "This industry has some of the best people in the world. We do interesting things. The gambling industry brings entertainment to people, hopefully in a responsible way."
Crystal highlighted the multifaceted nature of the industry, which combines technology, content, and people to create enjoyable entertainment experiences. He recalled, "Our first big project was in Las Vegas. We acquired half of old Las Vegas, Fremont Street, six casinos, 7,000 employees, nearly 450,000 square feet of gaming space. It was a good way to enter the industry as an operator in a real way."
Asia: The Future of Gambling
Crystal is optimistic about the Asian gambling market. He noted, "65% of the world's population aged 20 to 45 are Asians. If you are in any industry, especially the gambling industry, and you're not focusing on Asia, then you're missing out on the future."
Crystal emphasized the growth potential in various Asian countries. "We came to Asia because we wanted to expand here. Thailand's casinos are about to go online, the Philippines has more casinos, Vietnam has more casinos, and South Korea also has casinos. In this market, Japan will have integrated resorts (IRs). This (Asian) market is booming," he excitedly said.
Integrating Diverse Experiences to Benefit Clients
With a background in law, investment, and as a gambling industry executive, Crystal has unique insights into integrating diverse experiences to benefit clients. "When I started in this industry, I helped publicly listed companies and entrepreneurs finance their casinos and build their dreams," he explained. This approach has enabled him to guide SCCG Management in supporting large projects and emerging markets globally.
Crystal's philosophy of living without regrets has driven his career. He said, "As far as we know, you only live once, and I think in this life, you should try to fulfill your full potential."
Embracing Innovation and Technology
Crystal emphasized the importance of innovation and technology in the gambling sector. He stated that SCCG Management has always actively supported young entrepreneurs and new ideas. "Innovation often comes from outside the industry, then enters the industry. The key is to have an open mind, to see this and support those people, guide them," he also said.
SCCG is committed to providing advice to companies and helping them enter new markets, while also focusing on nurturing young entrepreneurs to improve the industry's dreams and visions.
Future Expansion and Supporting Entrepreneurs
Looking ahead, Crystal revealed SCCG Management's expansion plans. "We just started operations in Brazil, which is an amazing expansion market. We hope to enter more into Latin America, more into Africa, more into Dubai and the Middle East North Africa region," he shared.
Crystal emphasized that the future of SCCG Management will continue to support young entrepreneurs and expand into new markets. "More expansion, more support for young entrepreneurs, more of what we've been doing for the past 35 years."
