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Macau Legend delays rights issue as it plans capital reorganization, change of domicile

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Macau Legend Development announced it will delay the launch of its planned rights issue after announcing a capital reorganization and plans to shift its corporate domicile from the Cayman Islands to Bermuda.

The Hong Kong-listed casino operator said the reorganization aims to “enhance the company’s capital structure and provide greater flexibility for future corporate actions.” The move will include reducing the nominal value of its shares from HK$1.00 to HK$0.01.

Macau Legend, which runs the Legend Palace casino under a services agreement with SJM Holdings, as well as the waterfront Fisherman’s Wharf complex, has been grappling with heavy losses. The firm reported a net loss of HK$1.42 billion ($182.7 million) in the first half of 2025, after a HK$622 million ($80 million) loss last year.

The rights issue would expand its share base by 50 percent to 930 million shares, the filing said. Shareholders who do not subscribe will see their stakes diluted.

The offer comes as Macau’s mid-tier gaming operators face mounting pressure from weak liquidity, high costs, and competition from larger casino resorts.

The rights issue — under which shareholders will be offered one new share for every two existing shares held — will proceed on a fully underwritten basis, the company said. However, the prospectus and related documents, originally due by October 31st, will now be sent by December 31st.

Following the revision, trading in nil-paid rights shares is now expected to start on Jan 5th, 2026, with dealings in fully paid rights shares to begin on Jan 26th.

Macau Legend said it had signed a supplemental agreement with its underwriters to reflect the revised timetable and the additional condition that the capital reorganization be completed in full.

The company emphasized that neither it nor its co-underwriters have changed their intention to proceed with the rights issue. It also warned shareholders to exercise caution when dealing in its shares.

AGTech warns of wider first-half loss on Ant Bank consolidation, higher expenses

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AGTech Holdings said Tuesday it expects to post a sharply wider loss of at least HK$20 million ($2.5 million) for the six months ended September 30, 2025, compared with a loss of about HK$1.6 million ($205,000) a year earlier, mainly due to higher costs linked to its banking business in Macau.

The lottery and gaming technology supplier, controlled by Ant Group, said the loss attributable to shareholders will be no less than HK$9 million ($1.15 million), reversing a HK$2 million ($256,000) profit recorded in the same period of 2024.

AGTech said the larger deficit was primarily driven by the full consolidation of Ant Bank (Macao) Limited’s results for the first half of 2025, which contributed a loss of at least HK$18 million ($2.3 million), compared with about HK$7 million ($897,000) a year earlier.

Interest expenses at Ant Bank surged to about HK$48 million ($6.1 million) from HK$3 million ($384,000) as customer deposits grew 180 percent, while the group’s finance income fell by around HK$10 million ($1.3 million) due to lower market interest rates.

Despite a rise in total revenue of more than 30 percent, boosted by growth in its Macau consumer services business, AGTech also cited higher operating expenses, foreign exchange losses, and a small fair-value loss on loans to its Indian joint venture.

The company said the figures are based on preliminary unaudited results, with the final interim report to be released later.

Macau airport with passenger volume decrease in 3Q25

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The Macau International Airport reported nearly 1.89 million passengers in the third quarter of 2025, reflecting a 6.3 percent decrease from just over 2 million during the same period last year.

This decline is primarily attributed to a reduction in travelers from mainland China, which remains the airport’s main source market.

As per the latest insights from Macau International Airport Co. Ltd. (CAM), the third-quarter figures represent about 75 percent of the passenger volume seen in the pre-pandemic era of 2019. This suggests a slower recovery compared to the broader resurgence of tourism in the city.

In September, passenger numbers increased by 3.9 percent year-on-year, totaling 555,730. This slight uptick helped mitigate more significant drops of 6.9 percent in August and 13.1 percent in July.

Over the first nine months of 2025, the airport accommodated nearly 5.5 million passengers, comprising both tourists and local residents. This marks a 4.3 percent decline from 5.74 million during the same timeframe in 2024.

Cumulatively, this traffic reached only 76 percent of the levels recorded in 2019, despite Macau’s overall visitor numbers recovering to over 98 percent of pre-COVID figures.

In a noteworthy shift, visitor numbers from Taiwan and South Korea—Macau’s second and third-largest source markets—saw increases of 10.3 percent and 6.2 percent, respectively, with 384,737 and 132,853 arrivals in the first nine months of 2025.

Marina Bay Sands fined over major data breach affecting over 665K patrons

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Singapore’s Personal Data Protection Commission (PDPC) has fined Marina Bay Sands (MBS) SG$315,000 ($243,096) for failing to protect the personal data of more than 665,000 patrons, in what the regulator called a ‘negligent contravention’ of the country’s data protection laws.

The decision follows an investigation into a 2023 cyber incident in which the personal information of 665,495 MBS patrons — including names and contact details — was illegally accessed and later found for sale on the dark web.

According to the PDPC, the breach occurred after MBS ‘failed to take reasonable security measures’ during a large-scale software migration in March 2023. The omission of a critical identifier linked to the ArtScience Friends webpage ‘allowed malicious threat actor(s) to access and exfiltrate’ customer data, the Commission said.

Singapore’s Personal Data Protection Commission (PDPC)

‘Despite the clear risks involved in such a migration exercise, MBS had relied on a single employee to manually compile a list of API configurations into the new software, and without implementing second-layer checks,’ the PDPC stated in its Grounds of Decision released Monday. ‘MBS failed to discover and correct the omission for six months, leaving its patrons’ personal data unprotected.’

The regulator described the case as a serious failure in governance and process, emphasizing that the company’s ‘failure to put in place proper processes for something as critical as security policy was a negligent contravention of the Protection Obligation.’

The PDPC noted that as a large enterprise with ‘significant turnover in Singapore,’ MBS had the resources and capability to safeguard customer data but did not implement adequate oversight.

The SG$315,000 ($243,096) fine was determined under Singapore’s revised financial penalty framework, introduced in the Personal Data Protection (Amendment) Bill 2021, which allows regulators to impose fines of up to 10 percent of a company’s annual turnover for large organizations.

‘The change was aimed at achieving more effective, deterrent enforcement, signalling the importance of data protection in the digital economy,’ the PDPC said.

While the Commission took into account the scale of the breach, it also acknowledged mitigating factors, including MBS’s voluntary admission of liability and immediate remediation efforts.

‘MBS implemented remedial measures on the same day, including reactivating security controls for the affected website,’ the PDPC said.

The Commission reiterated that all organizations operating in Singapore must comply with the Personal Data Protection Act (PDPA) and maintain robust safeguards against unauthorized access.

‘Protecting the personal data of consumers is key to building trust,’ the PDPC said. ‘PDPC will take appropriate action against organizations that are found to have breached their obligations under the PDPA.’

Altenar teams up with Onerush for sportsbook launch in Sweden

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Altenar has extended its longstanding partnership with Nordplay Group to support the launch of the Onerush brand in Sweden with its award-winning sportsbook technology.

Nordplay Group’s legal entity, Buccone Trading Limited recently acquired a license to operate in Sweden and has quickly gone live with Onerush, powered by Altenar’s sportsbook module. Through Altenar’s fully-managed sportsbook solution, including a vast number of customizable features, 24/7 customer support, and advanced reporting tools, the operator is now in a strong position to succeed in the market from launch.

The deal is an extension of an existing partnership which has seen Altenar’s sportsbook being used to great success by the Frank & Fred and Jubla brands in Sweden. 

The agreement demonstrates Altenar’s strength as a long-term partner with expertise to help new entrants localise and stay a step ahead when attracting new audiences.

Sam Hill, Sales Director at Altenar, said: “We’re delighted to launch the Onerush brand in another positive step in what is already a successful partnership with their team and brands. Our best-in-class sportsbook offering and features will allow Onerush to differentiate their product offering from the competition and establish themselves as a market leader and provide the best user experience to their customers.”

Nicolas Lund, COO at Nordplay Group, added: “In Altenar we’ve found a trusted and reliable partner, supporting a wider offering on several of our brands. It’s therefore been a natural choice to bring them onboard for our latest brand Onerush in Sweden. We’re excited and hopeful to see Onerush well received by the Swedish market and together with Altenar will continue to challenge the mainstream to deliver a leading offering with lower friction and more entertaining experiences.”

Soft2Bet and Amusnet Gaming target growth in key European markets with strategic alliance

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Soft2Bet, a leading B2B casino and sportsbook turnkey solutions provider, has partnered with Amusnet Gaming to deliver high-quality entertainment across key regulated European markets.

The collaboration expands Soft2Bet’s already diverse range of casino providers, adding Amusnet Gaming to its global casino content that powers a worldwide portfolio of Soft2Bet’s brands, including Betinia, Swiper, Don.ro, ElaBet, TopBet, and others.

Julia Peeva-Sertov, CEO at Amusnet Gaming
Julia Peeva-Sertov, CEO at Amusnet Gaming

The partnership features a complete array of over 100 premium slot titles, including fan favourites such as Shining Crown, 20 Golden Coins, Candy Palace, Extra Crown, and Cavemen and Dinosaurs from Amusnet Gaming.

Julia Peeva-Sertov, CEO at Amusnet Gaming, commented: “Partnering with Soft2Bet represents an exciting step in our ongoing mission to bring high-quality, engaging content to players across Europe. We are proud to work with a forward-thinking operator whose platform reaches diverse audiences, and we look forward to delivering our fan-favourite titles and engaging experiences to even more players in regulated markets.”

Yoel Zuckerberg, CPO of Soft2Bet, stated:  “We are always ready to give partners and players the best experience, with fast integrations, proactive support, localized journeys and reliable performance powered by high-value casino player engagement tactics. This partnership with Amusnet is integral to our strategy for sustained growth and excellence, and we are thrilled to work closely together to deliver engaging, high-performance gaming experiences for our customers across our brands.”

This agreement expands Soft2Bet’s portfolio with Amusnet Gaming titles, pairing them with MEGA’s missions, challenges, and rewards to increase engagement, improve retention, and deliver measurable results across regulated markets. Rollout will follow brand roadmaps and local certification requirements, providing players with more choice and partners with a fast and reliable path to market.

GEG recognized for outstanding social responsibility at the 8th Hong Kong ESG Reporting Awards

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Galaxy Entertainment Group (GEG) was recently honored with the “Excellence in Social Positive Impact – Commendation” at the 8th Hong Kong ESG Reporting Awards (HERA), becoming Macau’s first integrated resort operator to receive this distinction.

The award underscores GEG’s dedication to supporting the Sustainable Development Goals, and consistently generating shared value and positive impact for the community and its stakeholders. The award also marked the second consecutive year that GEG has been recognized by HERA, following its receipt of the “Community Engagement Excellence Award” and “ESG Report Benchmark Award” last year.

Upholding its philosophy of “What is taken from the community is to be used for the good of the community”, Galaxy Entertainment Group (“GEG”) is committed to advancing sustainable development and creating a positive impact on the environment, society, and local communities through concrete actions that enhance its corporate social responsibility.

The award ceremony was held in Hong Kong, where Ms. Linda Wong, Assistant Senior Vice President of Public Relations of GEG, attended and accepted the award on behalf of GEG. Over the years, GEG has been actively promoting sustainable development in Macau through collaboration with different sectors across multiple fronts, including community development, team member well-being, and environmental protection.

Among these efforts, GEG has consistently supported youth development by collaborating with relevant government departments and associations to launch a range of youth empowerment programs aimed at cultivating talent for Macau’s sustainable future. GEG has also actively organized and participated in large scale cultural, entertainment, and sports events to promote deeper exchange in these fields.

Additionally, GEG leverages its resources to support the growth and transformation of local SMEs through multi-pronged initiatives. Concurrently, GEG is committed to creating a safe, healthy, and inclusive work environment for its team members, providing various training and development programs that empower personal growth and professional advancement.

Furthermore, GEG is the integrated tourism and leisure enterprise with the most EarthCheck certifications in Macau and the Greater Bay Area; and The Promenade Shops at Galaxy Macau™ and the Galaxy International Convention Center have both been awarded the prestigious LEED Gold Certification from the United States Green Building Council. GEG also became the first company in Hong Kong and Macau to receive Oxfam’s “Eat Fair Corporate” Certificate.

Moving forward, GEG will continue to fulfill its corporate social responsibility and contribute to the long-term development of Macau.

SOFTSWISS marks 100 brand milestone with Live-Built Sports Car giveaway

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To mark the launch of the 100th brand in 2025, SOFTSWISS will host a unique live show at SiGMA Central Europe 2025: the pit-stop-style assembly of a sports car, which will be gifted to the client behind the milestone brand on the final event day.

This will be the first time a real vehicle is assembled live on the floor of an iGaming expo.

Over the three days of the event, a professional crew will assemble an Alfa Romeo 4C Launch Edition in real time, transforming SOFTSWISS Stand 4015 into a high-performance pit lane. This full-scale build sets a new bar for experiential engagement in the iGaming industry, giving attendees the opportunity to take part in assembling a sports car themselves. 

During the show, professional mechanics will demonstrate how racing technology mirrors the architecture behind SOFTSWISS solutions: real-time analytics, scalable platforms, and automation. This three-day showcase will conclude with a symbolic moment – the gifting of the completed vehicle to the SOFTSWISS partner who launched the 100th brand on the company’s software in 2025. The ceremony starts on 6th November at 13:00 at Stand 4015.

“We believe every milestone is a shared success. Launching 100 new brands this year within the SOFTSWISS ecosystem shows the trust our partners place in us, and we’re proud to celebrate this moment together. This car represents precision, collaboration, and speed, the very values that define both racing and iGaming,” said Olga Resiga, Chief Business Development Officer at SOFTSWISS. “But more than that, this live build is a statement: we don’t just talk about innovation, we put it on display – in motion, in real time, and in front of the entire industry.”

Another major moment of the show will be the unveiling of the 2026 iGaming Trends Report – one of the industry’s most anticipated releases. Created in collaboration with NEXT.io, the report will offer a comprehensive outlook on the technology, regulatory shifts, and market dynamics shaping the industry. 

The launch will take place on 5 November from 12:00 to 16:00 CET during the 2026 iGaming Trends Marathon by SOFTSWISS at Stage 2: People, Partners & Performance. The four-hour programme will bring together global experts for keynote sessions and panel discussions covering key challenges and opportunities for the year ahead – from regulatory evolution and player engagement to platform scalability and AI-powered operations.

Pre-registration for early access to the full report is now open.

NagaWorld recognized as a Great Place To Work with outstanding 95% Trust score

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NagaCorp, operator of Phnom Penh’s leading integrated resort, NagaWorld, has announced that the property was recently Certified™ by Great Place To Work®, the global authority on workplace culture.

This certification, earned with an exceptional Trust Index™ score of 95%, is based entirely on direct and anonymous employee feedback. A high score indicates a positive work environment where employees feel, empowered to be their best selves in a safe work environment while receiving fair recognition, rewards and opportunities for growth.  

“It is encouraging and inspiring to see the practice of workplace culture and excellence being cultivated and recognised in Cambodia and being valued by each member in our company. We are both humbled by this international recognition and immensely proud of each member of our Naga family who through their passion for improving livelihoods come to the workplace everyday, not only to work, but to learn, to deliver and to promote the Khmer culture to the world through the works we collectively do. This certification is a recognition of the collective spirit and dedication of every member of our Naga family,” said Mr. Chen Yiy Fon, Chief Executive Officer & Executive Director of NagaCorp.

NagaWorld’s people strategy is built on four pillars: Start with Us, Grow with Us, Engage with Us, and Stay with Us.

Strategic actions behind this certification include:

  • Investing in Our People: Delivering over 205,000 hours of employee training in 2024 and launching the flagship ‘Leadership Series 2.0’ executive development program, which earned the ‘Investment in People’ award at the 2024 Asia Responsible Enterprise Awards.
  • Fostering Engagement and Well-being: Cultivating a vibrant community through large-scale initiatives like the inaugural ‘NagaRun’ and the ‘Naga’s Got Talent’ competition, which promote well-being, artistic expression, and camaraderie.
  • Driving Digital Innovation: Launching the ‘MyPortal’ mobile app to streamline internal communications, learning, and engagement, which received a Bronze for ‘HR Innovation’ at the HR Excellence Awards 2024 (Singapore).
  • Upholding Diversity and Inclusion: Maintaining a gender-balanced workforce, with women comprising 50.2% of all employees and holding 33% of managerial positions.

Mr. Chen added: “We will mark this milestone in our ‘Shaping Tomorrow, Together’ journey, which places our people at the core of everything we do. We are immensely proud of our team of over 6,000 professionals. This recognition is possible because of you. We congratulate our fellow recipients in Cambodia who have received Great Place to Work® certification™ and together let us continue to build and foster a workplace environment of excellence, integrity, and mutual respect where productivity can thrive and flourish.”

Daily Asia Gaming eBrief: Contrasting Europe and Asia’s iGaming markets

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Good Morning. Know what you’re up against. And the iGaming industry is very smart in dialing in on what its challenges are, even as it faces some extreme expansion possibilities. Looking at the Asian market, things are very contrasted with that happening in Europe, and a new study reveals just how much differentiation there is, and potentially reveals what opportunities that can bring. Looking to Singapore, drama is in play, with an executive resigning over US sanctions towards the Prince Group. And in the UAE, life is breezy, with the possibility for casinos to expand beyond RAK under a new licensing agreement.

What you need to know


On the radar


AGB Intelligence

Contrasting Europe and Asia’s iGaming markets

Europe vs Asia: what’s happening?

The iGaming sphere has to evolve. But the regions it evolves in also face their own evolution. And no one can ignore how strong the impact is of the proper product made for the proper place. EvenBet Gaming has tracked what the new trends are that separate the Asian and European diasporas, providing keen insight into why certain products work, what is shifting and why.

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90-Day Playbook for Winning Asia’s Gaming Market | GR8 Tech

GR8 Tech, Kate Pozdnysheva

Every operator can launch, but few can lead. In Asia, leadership is won in the 90 days after go-live, when payments feel effortless, content resonates locally, and every touchpoint builds trust.


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