Timor-Leste enters offshore gaming sector with first licence to Golden River Universe
Timor-Leste has issued its first national offshore gaming concession, signalling the country’s official entry into the global iGaming industry. According to the report of local media Tatoli, the licence was granted to Golden River Universe Lda (GRU) under a concession contract signed by Vice Prime Minister and Minister Coordinator for Economic Affairs Francisco Kalbuadi Lay.
The report said the concession marks the culmination of months of collaboration between the Timor-Leste government and the Inspectorate General of Gaming (IGJ), which aimed to establish a regulatory framework aligned with international standards. The agreement places GRU under the oversight of the IGJ, with a focus on compliance, digital transparency, and responsible operations.
GRU is expected to operate a centralised offshore gaming hub in partnership with the State Government of Oecusse. Known as the TOGOS Hub, the centre aims to bring new infrastructure, skilled employment opportunities, and foreign investment into the Southeast Asian country. The initiative is seen as part of the government’s broader strategy to diversify the economy and develop its digital sector.
GRU’s parent company, Grand Dragon Lotaria (GDLotto), is also moving support services such as customer service and research and development from Cambodia and the Philippines to Timor-Leste. GDLotto, which holds licences in multiple jurisdictions including Cambodia and Nigeria, intends to show that the country can accommodate and support cross-border gaming operations.
Exclusive casino and hotel deal awarded earlier
This development comes after the Singapore-based Asia-Pacific Strategic Investments (APSI) signed two cooperation agreements with the Timor-Leste government in February. The agreements cover the development of a five-star hotel with an integrated casino and the establishment of a bank, both aimed at promoting tourism and boosting financial infrastructure.
Under the terms, APSI will receive an exclusive licence to develop and operate the hotel-casino complex. The company is required to present a business plan within three months, detailing hotel specifications, gaming operations, and related tourism initiatives, including marine wildlife observation and yachting.
The joint venture will see APSI hold a 60 percent stake, with Banco Nacional de Comércio de Timor-Leste owning the remaining 40 percent. To fund the development, APSI plans to raise $100 million through convertible bonds, with $60 million earmarked for the casino project.
Warning over POGO relocation risks
Last year, the Philippine government issued a cautionary message regarding the potential relocation of Philippine Offshore Gaming Operators (POGOs) to the country. During his visit to Timor-Leste, Philippine Justice Secretary Jesus Crispin Remulla relayed President Ferdinand Marcos Jr.’s concerns about the socio-economic and security risks posed by POGO operations. The warning comes after the Philippines banned POGO activities due to a surge in crime, regulatory breaches, and threats to public order.
