PointsBet Holdings Limited expects its FY25 revenue and EBITDA to be at the lower end of its previously announced guidance.
The Australian betting company has provided an update on its financial expectations for the fiscal year 2025, reiterating its previously announced revenue guidance of AU$260 million ($169.7 million) to AU$270 million ($180.1 million) and EBITDA guidance of AU$11 million ($7.4 million) to AU$14 million ($9.2 million).
The company anticipates that both revenue and EBITDA will likely land at the lower end of these guidance ranges. This adjustment reflects PointsBet’s ongoing assessment of market conditions and operational performance as it prepares for the upcoming fiscal year.
PointsBet has been in the middle of a takeover battle between MIXI Australia and Betr Entertainment.
The City of Dreams Sri Lanka casino, managed by Melco Resorts & Entertainment, is set to open on August 2nd, as announced recently.
This casino is part of a $1.2-billion resort complex in Colombo, developed in partnership with John Keells Holdings Plc, with Melco investing $125 million.
The launch completes the project’s key components, including the luxurious Nüwa hotel and a premium shopping mall.
The City of Dreams Sri Lanka features 800 rooms, with the Nüwa hotel comprising 113 rooms, designed to enhance tourism and economic growth in the region.
John Keells’ chairperson, Krishan Balendra, noted that the opening marks a significant milestone for the integrated resort, expected to boost tourism and create job opportunities.
Lawrence Ho, Chairman & CEO at Melco Resorts & Entertainment
The casino will encompass 180,000 square feet for gaming operations and Melco holds a 20-year license for the venue starting April 1, 2024.
Melco’s chairman, Lawrence Ho, expressed excitement about the development, emphasizing Sri Lanka’s potential as a tourism hub: “City of Dreams Sri Lanka is expected to catalyze stimulating tourism demand and promoting economic growth in Sri Lanka, drawing inspiration from the successful examples set by similar integrated resorts in other jurisdictions.”
The Hong Kong-listed company, which operates Casino Kam Pek Paradise under SJM Holdings’ gaming licence, is set to face a significant revenue impact, as casino operations account for more than half of its total income. The satellite casino is one of 11 such venues scheduled to cease operations by December 31st under the current gaming law.
According to Paradise Entertainment’s latest financial results, the company recorded HK$718.3 million ($91.6 million) in casino revenue during 2024, representing approximately 66 percent of its total revenue of HK$1.085 billion ($138.4 million). In terms of adjusted EBITDA, casino operations generated HK$310.4 million ($39.6 million) compared to HK$187.8 million ($23.9 million) from the gaming equipment business.
“The casino revenue occupies half of the company’s revenue,” Chun told AGB, explaining that the shutdown of the Kam Pek Paradise casino will sharply reduce the company’s income. According to checks by AGB, the closure will result in adjusted EBITDA losing 68.5 percent of the company’s current earnings from satellite casino operations.
Workforce implications and job transfers
The transition will significantly impact Paradise Entertainment’s workforce. Approximately 400 employees from Kam Pek Paradise will be transferred to SJM, the primary gaming licence holder, while around 300 additional staff members, including cleaning personnel, face uncertainty.
Chun estimates that roughly half of these 300 positions—classified as self-recruited employees—may be eliminated, potentially resulting in 150 job losses. However, a final decision will not be made until the end of the year, as there is still half a year remaining to ensure a smooth transition process.
As mentioned by Macau authorities, the broader satellite casino closure affects approximately 5,600 workers across all 11 venues. According to Secretary for Economy and Finance Tai Kin Ip, job protections are in place for local employees. Of the total workforce, 4,800 were hired directly by the three gaming companies involved, with the remaining 800 employed by satellite operators themselves. An additional 400 non-local employees are also affected.
SJM has committed to reassigning affected local employees, whether hired directly or through third parties, whilst Melco has stated that its employees would be transferred to other properties within Macau.
Enhanced focus on gaming equipment business
Speaking about the strategic shift, Chun indicated that the gaming equipment business would be “enhanced,” though he did not specify particular measures for the expansion.
The company has already taken steps to strengthen this segment, with subsidiary LT Game Ltd opening a local assembly facility in April. The 20,000 square foot facility, located in an industrial building in northern Macau peninsula, covers 1,858 square metres and enables local production of gaming equipment.
Meanwhile, the company has established a Philippines office for global expansion in 2024. As per a previous interview with AGB in December 2023, the company’s focus is on the Philippines market. The Philippines already holds the title of the largest EGM market in Asia, offering great flexibility with numerous casinos and a variety of gaming types. Chun believes that the slot machine count in the Philippines will “double” in the foreseeable future.
Stock drops over 55%
The announcement of the satellite casino closure had a significant impact on Paradise Entertainment’s stock performance. Following the 9th June government announcement, the company’s shares fell from HK$1.83 at opening to a low of HK$0.65 on 10th June. As of 26th June, after market close, the company’s shares stood at HK$0.82, falling over 55 percent since the casino closure announcement.
In response to the stock decline, Jay Chun purchased additional shares worth approximately HK$323,880 ($41,263) across two transactions, increasing his stake from 59.96 percent to 60 percent of the company.
A Senate committee has called on Thailand’s government to withdraw its controversial casino-entertainment complex bill, citing potential constitutional violations and questioning its economic benefits, according to Bangkok Post.
The move comes after the government postponed the first reading of the bill, which was initially scheduled for July 9th. According to the latest update, the Pheu Thai-led government has now pushed the bill to the bottom of the legislative agenda for the July 3rd parliamentary session.
Senator Veerapun Suvannamai, who chairs the reviewing panel, announced on Thursday that the legislation potentially breaches multiple sections of the 2017 Constitution, including Sections 3, 58, 63, and 65. The committee reached these conclusions after conducting a comprehensive two-month study of the proposed bill.
The primary constitutional concern stems from the government’s initial framing of the proposal as an entertainment complex bill without explicitly disclosing casino plans from the outset. Senator Veerapun warned that this approach could be deemed contrary to national strategy and might prompt a petition to the Constitutional Court, potentially resulting in a ruling against the legislation.
Economic concerns challenge government projections
The Senate panel questioned the government’s economic rationale, finding insufficient evidence to support claims that legalised casinos would significantly boost Thailand’s gross domestic product. The National Economic and Social Development Council reinforced these concerns, informing the committee that global trends show declining casino revenues, which suggests unfavorable timing for Thailand’s entry into this sector.
Senator Veerapun further undermined the government’s financial projections by pointing out that casino profits predominantly benefit private investors rather than generating substantial state revenue. This reality casts serious doubt on the government’s anticipated tax income from the proposed legislation.
However, industry analysis presents a different perspective. A study by Maybank Securities conducted in April 2024 estimated that Thai entertainment complexes with casino facilities could generate approximately THB187 billion ($5.14 billion) in annual revenue, representing roughly one percent of Thailand’s GDP. The investment bank acknowledged that these projections are based on gaming analyst forecasts and Thailand’s 2019 tourist arrival figures.
Political opposition mounts
Anutin Charnvirakul, leader of the Bhumjaithai Party, cited the casino policy as a key factor in his party’s withdrawal from the coalition government. He questioned whether legalising casinos would genuinely benefit ordinary Thais, arguing that such establishments concentrate wealth among a few investors while triggering social problems including crime and family issues.
Despite growing criticism, Deputy Finance Minister Julapun Amornvivat maintains the government will secure sufficient support to pass the legislation when appropriate.
Senator Veerapun emphasised that merely deferring the debate is insufficient, reiterating his call for complete withdrawal of the controversial legislation.
ELA Games, an innovative game development studio, has announced its latest distribution partnership with the established content aggregator, SlotCatalog.
SlotCatalog is a leading independent slot database and content discovery platform, established in 2016. It has quickly become an authoritative source for players, operators and development studios as a centralised database with up-to-date game information and the latest industry updates.
ELA Games’ collaboration with the platform will make the studio’s rapidly growing portfolio of games more accessible to players and industry figures across the globe. Through SlotCatalog, players can now explore, compare and demo ELA Games titles, such as Joker Winpot, Cash of Gods and more. With intuitive organisation, rankings and detailed game breakdowns, SlotCatalog offers players an engaging space to discover new content, further boosting ELA Games’ visibility and reach.
Yaroslav Soloshenko, Business Development Team Lead of ELA Games, commented on the partnership: “This collaboration with SlotCatalog propels our reach and visibility to players, allowing us to showcase our high-quality content to a more diverse global audience. We’re proud to be hosted on one of the largest and fastest-growing player-centric and trusted platforms. Our partnership will help us grow and maintain our passion for developing engaging and unique gaming experiences.”
Maga Hallaiev, SlotCatalog’s Content Writer, added:“We’re thrilled to welcome ELA Games to SlotCatalog. Through SlotCatalog, players around the globe can now discover, explore, and enjoy their titles. All great content deserves visibility, and we’re happy to help showcase ELA Games’ growing portfolio to players worldwide.”
As ELA Games continues to expand and develop new, exciting titles, this partnership with SlotCatalog ensures that stakeholders, industry leaders and players can stay informed on the studio’s releases and innovations.
Global betting company 1xBet will host a private event for its partners at The MAINE Mayfair Bar & Restaurant on July 1st, featuring dynamic dance performances, a spectacular music show, and signature cocktails—all designed to energize productive networking at the IGB Live forum.
The exciting journey will begin in the lounge area, decorated in the Casino Royale style. Iconic episodes from James Bond films will come to life before the eyes of all present, while an unforgettable atmosphere of intrigue and luxury will set the tone for poker, blackjack, and roulette games in the company of actors portraying Kate Moss, Austin Powers, and other legends of British culture.
After that, guests will take part in a quest with riddles from Sherlock Holmes to get into a secret room with signature cocktails and private shows. Next, the main hall will open, and the main programme will commence.
Everyone will enjoy the rock opera by Queen, tribute performances by Elton John and Adele, as well as dance shows by the Spice Girls.
The highlight of the evening will be the headliner’s appearance on the main stage. It will enhance the event and leave a lasting impression on everyone present.
Thanks to thematic locations, a well-chosen dress code for guests, and a vibrant show programme, the party will ignite fireworks of emotions and provide the opportunity to spend time among music and cinema legends. An event in the style of The Icons is an unforgettable show you can’t miss!
1xBet is inviting everyone to join the 1xBet Affiliate Program to take advantage of its benefits.
Digitain, a leading sportsbook and casino platform provider, has announced its participation in iGB Live London 2025 to present its latest developments and highlight its commitment to delivering scalable, compliant, and forward-looking technologies for regulated markets at stand M64.
As one of the industry’s most trusted and awarded B2B suppliers, Digitain will use the event as a platform to meet with partners, share strategic developments, and introduce its latest advancements in Sportsbook, casino platform, virtual sports, and payment technologies.
This year’s participation will be marked by the launch of the company’s first-ever AI-generated campaign — a forward-looking vision that reflects Digitain’s ongoing investment in artificial intelligence and its role in shaping the future of iGaming experiences.
Ani Mkrtchyan, Chief Sales Officer, commented: “iGB Live is a key event for us to present not only our latest innovations, but also our strategic vision for the future of iGaming. As markets become more competitive and regulated, we’re focused on helping partners navigate this complexity with scalable, compliant, and forward-thinking solutions. We’re here to build meaningful, long-term partnerships through trust, agility, and innovation.”
Aregnaz Hakobyan, Digitain Group Chief Marketing Officer, added: “This year’s ‘BUILT TO LEAD.’ slogan and our new AI-generated campaign reflect not only where Digitain stands today, but where we are heading. We’re focused on pushing creative and technological boundaries while staying aligned with the real needs of the industry.”
At the event, Digitain will share updates on its corporate roadmap, regulatory reach, and long-term product evolution, offering visitors a deeper look into how the company is shaping the next chapter of its legacy.
The Philippine Amusement and Gaming Corporation (PAGCOR) has issued a warning against illegal offshore gaming websites that are falsely claiming to be licensed or approved by the agency.
According to the country’s gaming watchdog, these fraudulent websites are using the agency’s logo and issuing fake licenses to deceive the public. The gaming regulator has identified several specific sites engaging in these deceptive practices.
Among the websites named by PAGCOR are efesbetcasino514.com, OG7777 online gaming (og7777.org), mpo500.com, qq88.com, mpo2121.com, lgolive.com, napolibet.com, KRATOSBET LTD (kratosbet.com), mpossport.com, and efsanebahis434.com.
Another fraudulent site, cazeus2.com/en/responsible-gaming, has been identified as being based in the United Kingdom.
“These platforms are not authorized to operate under any PAGCOR-issued license,” said PAGCOR Chairman and CEO Alejandro H. Tengco. “We want to make it very clear that the use of PAGCOR’s name and logo by these sites is blatant disrespect to the agency and poses a threat to the public.”
Tengco emphasized the importance of public vigilance, calling for people to verify the legitimacy of any gaming site before participating. “We urge everyone to remain vigilant and to always verify the legitimacy of any gaming site before engaging with it,” he stated.
PAGCOR reiterated that all Philippine Offshore Gaming Operations (POGOs) have been banned since December 31st, 2024. Any former licensees and service providers that continue to operate are now considered illegal.
“Any entity claiming to operate under a PAGCOR license for offshore gaming is clearly violating the law and should be reported immediately,” the PAGCOR chief added.
The agency has advised the public to visit its official website at www.pagcor.ph to verify whether a gaming operator is licensed and to access other legitimate information related to online gaming.
Vietnam’s Deputy Prime Minister Tran Hong Ha has approved the Van Don integrated resort and casino project in Quang Ninh province, marking a significant development in the country’s gaming landscape.
The decision, signed on June 27th, 2025, greenlights an investment of $2 billion for a 70-year license, with the project to be developed in three phases over 9 years. The news was reported by local media outlet VN Express.
The complex will be situated on more than 244 hectares in Van Yen commune within the Van Don Economic Zone, with 182 hectares designated for core functions including a casino, hotels, luxury villas, tourism services, parks, and water features.
It is worth noting that 62 hectares of interspersed forest land—comprising 38 hectares of protected forest and nearly 24 hectares of production forest—must remain untouched, in accordance with forestry regulations.
While the casino license has been granted, entry for local Vietnamese residents is still pending and subject to further legal approvals. The Ministry of Finance previously re-submitted a proposal seeking to include local players under the existing pilot program, though final clearance has yet to be given.
The Van Don integrated resort is projected to generate approximately $326 million in annual revenue, with total contributions to state coffers estimated at over $9.6 billion during the 70-year operation. The project is expected to employ around 6,000 people and contribute significantly to the region’s economy.
Authorities have tasked Quang Ninh’s provincial government with selecting the investor through a bidding process and monitoring the capital contribution and financing stages. The local economic zone management board must also prepare housing plans and social infrastructure for the project’s workforce, alongside reserving land for cultural and sports facilities to serve residents and tourists.
In an interview with an industry expert earlier this month, Tim Nguyen, Director of Fortuna Investments, told AGB that pushing forward the Van Don IR is seen as a positive signal for Vietnam’s maturing gaming policy. The reactivation of the Van Don project, especially with the likely extension of the locals entry pilot, signals a strong move toward a more commercially viable gaming sector.
Numerous Asian and APAC gaming jurisdictions made it into the Top 25 list in UBS’ Global Wealth Report 2025, as overall wealth worldwide accelerated last year by 4.6 percent.
Hong Kong, which operates sports betting and a lottery – came in at 3rd place in average wealth per adult ($601,195), maintaining its status from the previous year.
Meanwhile, Australia also maintained its placement at 5th, with $516,640 in average wealth per adult (AWPD).
Singapore rose by one position, to 7th in this year’s ranking, with average adult wealth at $441,596. It replaced New Zealand, which fell to 8th, with adult wealth at $393,773.
Taiwan, meanwhile, rose to 15th place, up one spot yearly, with $312,075 in average wealth per adult.
Similarly, South Korea jumped up one spot, to 20th, with AWPD at $251,223.
Japan, meanwhile, fell one spot, to 24th, with AWPD at $205,221.
The APAC region still has a long way to go in AWPD compared to the Americas and EMEA (Europe, the Middle East and Africa), with just $66,808, compared to the Americas’ $311,846 and EMEA’s $167,696. The figures are weighted by population size within each region.
Growth in total personal wealth in 2024 was ‘solid but uneven’, notes UBS, indicating that the Americas saw an 11.35 percent rise, while APAC rose by 2.85 percent and EMEA increased by just 0.44 percent.
Analyzed by sub-segment, Greater China saw a 3.42 percent increase in total personal wealth in 2024, surpassing Southeast Asia’s 2.67 percent. China’s AWPD amounted to $88,985, while that of Southeast Asia was just $40,753.
Overall, the United States and Mainland China accounted for 54 percent of personal wealth from the 56 sample markets.
Meanwhile, Japan holds 4.5 percent, India has 3.4 percent, Hong Kong holds 0.8 percent and Singapore has 0.5 percent of global personal wealth.
Millionaires
New York City, the wealthiest city in the US.
‘The United States hosts the largest number of USD millionaires in the world by far, more than Western Europe and Greater China combined,’ notes the report.
Some 43.2 percent of millionaires are located in North America, while 12.9 percent are in Greater China and 9.3 percent are in Southeast Asia.
However, Greater China has the largest number of individuals with wealth between $100,000 and $1 million – at 28.2 percent of the total. Southeast Asia, meanwhile, has 15.6 percent.
The United States houses some 23.83 million millionaires. Mainland China comes a far second, with just 6.32 million millionaires. Japan comes in fourth, with 2.73 million, while Australia has 1.9 million, South Korea has 1.3 million, India has 917,000, Taiwan has 759,000, Hong Kong has 647,000 and Singapore has 331,000.
This comes from a sample of almost 60 million USD millionaires worldwide, who own a combined $226.47 trillion of assets.
But looking at percentages, the United States adds over a thousand millionaires every single day. For China, this figure falls to 386 new millionaires every day.
Billionaires
But moving up a bracket, UBS analysts found that there were some 2,891 billionaires within their sample group at the end of 2024, ‘a small increase over the year before’.
However, only 31 individuals ranked above the $50 billion mark.
