South Korean foreigner-only casino operator Paradise Co reported a solid performance in the first quarter of 2025, with total revenue reaching KRW283.3 billion ($199 million), representing a 7 percent year-on-year increase. Operating profit also climbed 18.3 percent year-on-year to KRW57.3 billion ($40 million).
The company’s casino business—which includes operations in Seoul, Busan, Jeju, and Incheon—generated quarterly revenue of KRW223.4 billion ($157 million), up 9.3 percent year-on-year. This marks the highest quarterly revenue ever recorded for its casino segment, despite a 2 percent year-on-year decrease in drop amount to KRW1.69 trillion ($1.2 billion). The growth was driven by an improved hold rate, which rose by 1.4 percentage points compared to the same period last year.
According to the company’s financial results released Monday on the company’s website, VIP drop from Chinese and Japanese players remained steady compared to the previous year, while mass market drop reached a new quarterly high, rising 1 percent year-on-year.
Revenue from integrated resort (IR) operations increased 5.2 percent year-on-year, despite a modest rise in drop amount and a boosted by a 0.5 percentage point improvement in the hold rate.
However, the hotel and resort (H&R) segment saw a revenue decline of 7.6 percent year-on-year, falling to KRW24.3 billion ($17.1 million). The company attributed the downturn to weak domestic demand, which offset the positive impact of increased foreign tourist arrivals.
Altenar has expanded its portfolio of US sports by adding more Major League Baseball (MLB) content for the 2025 season. The addition of in-play Bet Builders allows live betting during MLB games, offering operators the chance to benefit from a surge in the bet type’s popularity.
There is also an expanded range of prop betting available on both pre-match and live games, with a vast range of odds now offered on player, team and game props.
Altenar already offers fast markets and micro-betting options, along with same-game parlays, player specials and pitcher lines for the popular league.
An official distributor of MLB data since 2019, Swish Analytics delivers rich, reliable and fast information that enables the development of highly engaging user markets, which are now available to Altenar’s operator partners.
These additions reinforce Altenar’s commitment to delivering relevant and tailored content for US-facing partners, while continually striving for excellence as a sportsbook provider.
Antonis Karakousis, Director of Operations at Altenar, said: “Altenar is driving innovation in US sports by pushing the boundaries of what is possible with our offering. We will continue to grow our presence in this vertical and ensure that our full suite of pre-match, in-play, and at-bat betting products defines the next generation of engagement for our operators’ MLB fans. In addition to the above, the development of our MLB Live Bet Builder is another strong statement that reflects our commitment to listening to users’ needs. Enhancing the Bet Builder experience remains a key focus and a central part of our product strategy.”
Altenar will showcase its enhanced terminal at SBC Summit Americas 2025 from May 13–15. Attendees can visit the stand or book a demo to explore the terminal’s new capabilities first-hand here.
White Hat Studios, a leading provider in the US iGaming sector, has partnered with Gaming Arts to bring its content to land-based casinos nationwide.
The partnership brings top-ranked US iGaming content by White Hat Studios into the retail sector for the first time, allowing it to explore a new omnichannel approach to capitalize on untapped potential. The deal will also see top land-based titles from Gaming Arts launch online via White Hat Studios.
Big Catch Bass Fishing™, the first title rolled out across US casino floors, has already proven a resounding success within Gaming Arts’ land-based network, highlighting the cross-platform quality of White Hat Studios’ portfolio. Upcoming titles will include Bankin’ More Bacon™ and Kong Even Bigger Bananas™.
A regular flow of new titles is set to be distributed to Gaming Arts’ partners imminently as White Hat Studios looks to build on its strong momentum, which saw it named the number one new US provider at the 7th Annual EKG Slot Awards and break into the top three US suppliers by gross gaming revenue according to the Eilers-Fantini U.S. Online Game Performance Report – January ’25.
Andy Whitworth, CEO at White Hat Studios, said: “The collaboration with Gaming Arts marks a landmark moment for White Hat Studios as we take our top-performing iGaming content to the casino floors. Our primary objective is to deliver content that maximizes entertainment for players, whether that is online or in land-based casinos, and we have no doubt our portfolio will elevate the offering of Gaming Arts’ partners. We look forward to introducing White Hat Studios’ hit titles to a whole new audience and showcasing the omnichannel appeal of our games to the wider industry.”
Greg Colella, Chief Product Officer at Gaming Arts, added: “White Hat Studios has made a name for itself developing strong-performing games that resonate with players across multiple states, and its rapid rise in iGaming is a testament to the quality of its products. This agreement enables Gaming Arts to further strengthen the way in which we supply leading US retail casinos with class-leading content, while simultaneously enhancing the studio’s footprint in the land-based sector. We are also particularly excited to see our top-performing land-based titles launching online.”
3 Oaks Gaming, an established distributor of iGaming content, has strengthened its position within the regulated Italian market after going live with AdmiralBet, one of the country’s leading casino operators.
AdmiralBet, the online brand of Admiral Sport Srl, has been a prominent operator in Italy since 2012 and is part of the Greentube Group, the online subsidiary of the globally renowned Novomatic Group.
As part of a new content distribution agreement, 3 Oaks has delivered a wide range of its best-performing slots to the Italian operator, including popular releases 3 Hot Chillies, Lucky Penny, More Magic Apples, Coin Volcano, and Sun of Egypt.
Italy remains a key market for 3 Oaks Gaming’s ambitious expansion plans and this latest launch with a high-profile casino brand is set to further enhance the distributor’s presence within the market.
The company’s vast portfolio of titles influenced by the Hold and Win mechanic have been proven to resonate with local players, with a strong player base appreciating gameplay inspired by the land-based experience and enhanced with modern features.
Yuriy Muratov, Chief Commercial Officer at 3 Oaks Gaming, said: “Launching with AdmiralBet is a major development within our Italian expansion strategy. Distributing our titles to such an iconic brand within the market will open the door for even more players to enjoy the in-demand 3 Oaks Gaming experience. We’re building strong momentum across regulated markets worldwide with several high-profile launches planned for 2025. Demand for our content is very high at present and it’s an exciting period for 3 Oaks as we scale the business to new heights.”
Paolo Marchi, Managing Director at Admiral Sport, added: “It’s fantastic to bring 3 Oaks Gaming’s content to our online casino in a move that will further elevate our games offering. We’ve been particularly impressed with how 3 Oaks has introduced innovative twists to the iconic Hold and Win mechanic, which is already very popular with players. This agreement will provide them with exciting new ways to experience this legendary casino format within the digital environment.”
The tension on US-China relations has lessened slightly, as both nations announced a suspension on part of their tariffs on exports for 90 days, potentially offering a reprieve from speculation over the impact on Macau’s US-backed gaming operators.
In a joint statement on Monday, the US announced that levies on many Chinese imports will be reduced from about 145 percent to 30 percent, while those imposed by China on US goods would fall from 125 percent to 10 percent.
The move marks a significant stride in strained relations between Washington and Beijing, with US President Donald Trump aiming to pressure Chinese President Xi Jinping to the negotiating table, even as both nations suffered economic declines due to the tariffs.
A reduction in the levies had been expected, due to the massive amount of trade between the world’s top economies.
Macau can breathe easy, for awhile, maybe
Before the tariff reductions were announced, AGB caught up with Senior Analyst at Seaport Research Partners Vitaly Umansky to get his view on how US-backed gaming operators in Macau were reacting.
Vitaly Umansky
“I don’t think it’s the government’s objective, either in Macau or China, to go after this (gaming) industry […] I think they view the operators in Macau as largely having done what they’re supposed to do”.
Umansky is not of the opinion that the gaming concessions would be a potential pressure point for Beijing, noting that “having well-regulated operators that are trustworthy, that have been here for (nearly) 25 years is critically important”.
But not everybody has the same standpoint.
Gaming consultant Ben Lee, Managing Partner of IGamiX Management & Consulting questions, “What makes the US operators in Macau untouchable?”
Ben Lee
Lee questions in particular what physical goods that the three US-backed gaming operators manufacture, an interesting point given that the tariffs also target goods and not services.
But even more so, Lee questions exactly how the gaming operators are contributing to China’s economy directly.
The operators “take liquidity out of China into Macau and from Macau it goes to the US as profits or dividends”. And little can be said to contradict this fact, since the post-COVID rebound, Las Vegas Sands, Wynn Resorts and MGM Resorts have all engaged in significant stock buyback programs.
Macau likely safer, but US operations impacted
The last US-backed Macau operator to announce its 1Q25 results recently, Wynn Resorts, did have some questions to management in its earnings call about tariffs, and the group indicated that the increased pressure had caused a rethink on financial investments.
“That has to do with material costs, because they’re doing some large-scale renovation work, and obviously most of that is imported. So, it raises their costs. They’re just debating whether to delay some of the renovation work,” opines Umansky.
But Macau continues to be a cash cow for US operators and also a cause for massive expenditure.
Las Vegas Sands Chairman and CEO, in the group’s 1Q25 results announcement, indicated that Sands China had invested “approximately $17 billion” in Macau so far. A huge part of that is in non-gaming efforts. And while they’re the largest of the three US-backed Macau operators, the other two also face significant exposure to any changes in the status quo of their Macau operations.
Analysts at Fitch point out that Las Vegas Sands derived 63 percent of consolidated FY24 revenues from Macau, which drops to 52 percent for Wynn Resorts and 23 percent for MGM Resorts International.
However, “all six operators are publicly traded companies”, effectively listed on the Hong Kong Stock Exchange (Melco being a slight exception).
“If you cut off or limit dividend distributions, you’re affecting Hong Kong-listed companies, which sets a very bad precedent around investment […] so it’s not really realistic,” notes Umansky.
“It’s more important for China to see Macau as a stable, growing place that they can point to and say ‘we’ve done a great job managing this for 25 years, having an industry that’s relevant and trustworthy’”.
“And I think all the operators back in the US, when they speak with government officials etc, they are one of the industry groups that actually speaks more favorably about China,” indicates the analyst.
The tariff topic was even raised by the head of the Hong Kong & Macau Affairs Bureau during a visit to Macau over the weekend, demonstrating that the business impact on the SAR has been under evaluation by Beijing, with hopes that tensions would lessen, but with preparations to handle any eventuality.
Discussions will continue between China and the United States, as both sides still hold strong views over the relevance or necessity of tariffs, but at least – for now – both sides have sat down at the table to hash it out, with hopes that dialogue will trump political posturing (and all the negative impacts it can bring).
7777 gaming, a leading provider of innovative iGaming content, has officially entered the Croatian market through an exclusive partnership with SuperSport’s brand Super Casino, the country’s largest betting operator.
This partnership underscores 7777 gaming’s strategic focus on expanding its presence in the Balkans and reinforces its dedication to delivering exceptional gaming experiences across new markets.
SuperSport, a dominant force in Croatia’s regulated gaming industry with approximately 50% market share, is now offering a selection of certified titles from 7777 gaming. Among these are popular games such as Crazy 100 Bucks, Thracian Treasures, Barbarian, Greenhats’ Megawins, and Devil’s Deal: Soul for Sale.
In addition to its diverse game portfolio, 7777 gaming introduces three exciting jackpot concepts to the Croatian market: Juicy Cash Jackpot – A fruit-themed jackpot offering dynamic rewards.
Crazy Bucks Jackpot – High volatility gameplay delivering adrenaline-fueled wins. Jackpot Temple – A mystical adventure promising epic prizes.
“We are thrilled to partner with SuperSport and bring our unique gaming content to Croatian players,” said Elena Shaterova, CCO at 7777 gaming. “This exclusive collaboration allows us to showcase our commitment to delivering high-quality, engaging games tailored to the local market’s preferences.”
Tugomil Cerovečki, Casino Director at SuperSport added, “Integrating 7777 gaming’s titles into our platform enhances our offerings and aligns with our goal to provide top-tier entertainment to our users. We are confident that our players will appreciate the innovative gameplay and exciting jackpot features.”
The iGaming world is eyeing Asia as the next big opportunity. But most operators are either stuck with generic platforms dressed up with an “Asian” label or left to navigate the cultural maze alone. Bettorify has decided to take a different approach to close these gaps and help operators deliver real gaming experiences.
Operators deserve better than Western platforms with translated buttons, vague pricing, and empty promises. The need for a transparent provider that delivers real localisation and true partnership has never been greater.
Platforms That Feel Native
Most global platform providers treat Asia like a checkbox. They translate the content, add a few payment options, and call it done. Bettorify takes a fundamentally different approach, focused on deep localisation.
“We go beyond translating content or adding games. We study how players in each market actually use platforms,” Hanna Rai, CEO of Bettorify, explains. “Asian players have unique preferences shaped by their cultural context and habits.”
This includes colour choices, layout expectations, and visual details that feel native. When players feel at home, operators win.
From Factory Model to True Partnership
Bettorify is pushing back against the typical factory-style model, where providers prioritise big clients and leave smaller operators waiting for months.
“I’ve been both the operator and the platform provider. That’s why, at Bettorify, we prefer quality over quantity. When onboarding a new client, I want them to know we’ll be there every step of the way. Our goal is to deliver VIP-level service and impress operators who are tired of copy-paste platforms and slow support,” Hanna says.
Solving the Payment Puzzle
The biggest game-changer is Bettorify’s approach to one of the industry’s toughest challenges: payment processing.
“Success in these markets comes down to how well payments convert. With the right local partners, transactions go through smoothly.”
Hanna Rai, CEO of Bettorify
The data speaks for itself. While international payment providers may see 20-30% success rates, local systems often hit 85-90%. That difference alone can decide if an operator grows or fails.
The Time for Asia Is Now
Hanna Rai, CEO at Bettorify
With over 30% of global gaming revenue projected to come from Asia soon, the window of opportunity is wide open. Bettorify’s white-label and turnkey solutions deliver what most platforms miss: culturally sharp execution backed by real local expertise, multiplied by a true partnership approach.
“We’re building the ultimate bridge between international operators and the local knowledge it takes to succeed in Asia,” Hanna says. “European Quality, Built For Asia.”
For operators ready to enter or expand to Asia, Bettorify’s team will be exhibiting at booth 1184 at SiGMA Asia 2025 from 1st to 4th June in the Philippines. Reach out at [email protected] to see a live platform demo and discuss your Asian market entry strategy.
Good Morning. An absence of regulation is not always a good thing for operators, and can actually hamper growth. So, an expert about the state of Vietnam’s gaming industry opines that frameworks are needed to help companies avoid incidents by knowing which rules are in place. Meanwhile, in Macau, junkets have faith in more clarity from the city’s watchdog, now that a new Director is in place. Looking at results, Melco improved its market position in Macau in 1Q25, despite a challenging competitive environment.
Vietnam’s gaming market has strong potential, but it’s hampered by regulatory gaps which create challenges for operators. According to an expert, the nation is still trying to find a balance between business interests and regulatory requirements, with companies oftentimes having to choose their own levels of compliance due to an absence of rules.
The Monetary Authority of Macau (AMCM) assures that loans to satellite casinos do not represent a risk to the financial sector, in the case of their closure by the end of the year.
Broadcaster TDM Canal Macau highlighted a response to an inquiry by Macau legislator Ron Lam, in which the authority indicated that ‘the loans granted to satellite casinos represent, currently, a very small percent of the loans granted by the banking sector’.
Also in response to the legislator, the Gaming Inspection and Coordination Bureau (DICJ) indicates it is prepared to handle market fluctuations due to the upcoming termination of the satellite casino arrangement on December 31st.
The DICJ notes that it is ‘maintaining contact with the sector and the other government bureaus to face any situation which could affect the smooth functioning of the gaming sector and of social stability’.
Some 11 satellite casinos are facing potential closure, nine of which are under the license of legacy gaming operator SJM.
The end of the transition period has caused some concern, raising questions over the fate of their current workers and the possible impact on surrounding businesses.
But the gaming watchdog indicates that it has contingency plans for employees, with the Labor Affairs Bureau evaluating human resources necessities of gaming companies to see about possible transfers to other areas including both front- and back-office roles.
Regarding the movement of gaming tables from the satellite casino properties, the DICJ did not give any new details, stating that it would guarantee that ‘the interests of the SAR regarding taxes and other charges resulting from casino operations are protected’.
Sands China and the Guangdong-Macau Traditional Chinese Medicine Technology (GMTCM) have partnered to enhance the integration of the Big Health tourism industry across Macau and Hengqin, leveraging the strengths of both regions.
The collaboration was formalized on Friday with the signing of a Memorandum of Understanding (MOU) at the GMTCM Park, located in the Guangdong-Macau In-Depth Cooperation Zone in Hengqin.
This agreement aims to invigorate the industry by leveraging Macau’s status as a global hub for leisure and tourism, its exceptional infrastructure and resources, and the accessibility provided by the ‘one-hour living circle’ in the Guangdong-Hong Kong-Macau Greater Bay Area (GBA).
Macau is a city where Eastern and Western cultures have co-existed for over 400 years. By offering rich tourism resources and capitalising on its proximity to Hengqin, Macau has become one of the four key cities in the GBA.
The partnership between Sands China and GMTCM aims to employ the strengths of their hardware and software resources to unleash the potential of Macau-Hengqin development through promoting regional collaboration. They plan to fully utilise their respective resources to help health brands in Macau and Hengqin go global and attract international and domestic investment to Macau, laying the foundation for collaboration between Big Health products and related MICE events, fully in line with Macau’s vision of promoting “1+4” moderate economic diversification.
Grant Chum, chief executive officer and executive director of Sands China Ltd., said: “Rooted in Macau, which we have called home for more than two decades, Sands China is honoured to be the first among Macau’s integrated resort operators to sign an MOU with GMTCM. We have actively participated in this high-level collaboration, aiming to apply our strengths and value to enhance the city’s pivotal role as a world centre of tourism and leisure and a gateway for cultural exchange between East and West, deepening Macau’s integration into national development.”
Wu Song, chairman of Guangdong-Macau Traditional Chinese Medicine Technology Industrial Park Development Co., Ltd., added: “This collaboration marks the official launch of in-depth cooperation between the two parties in the field of Big Health and tourism, carrying profound significance for advancing the cross-sector integration of Macau and Hengqin’s ‘tourism+’ initiatives. Since China Taiping officially took over the operation of the industrial park in January 2023, significant achievements have been made with the enthusiastic support of relevant central ministries, the Macau SAR government, and various sectors of society.”
“This joint effort is a concrete measure in response to the Macau SAR government’s 2025Policy Address to support key industrial projects in Macau and Hengqin, as well as deepening the cross-sector integration of ‘tourism+’. The industrial park and Sands China have vast potential for collaboration in areas such as product development, service innovation, and market expansion,” he added.
Sands China executives visited the Exhibition Center of the Traditional Chinese Medicine Science and Technology Industrial Park of Cooperation Between Guangdong and Macau in the Guangdong-Macau In-Depth Cooperation Zone in Hengqin.
Potential collaborative projects between Sands China and GMTCM include organising Big Health MICE events through their venue resources and professional platforms to promote the mutual development of the medical, healthcare, and wellness industry in Macau and Hengqin. Related events might include professional forums, industrial exhibitions, and international conferences and meetings, intended to strengthen exchange and interaction between Macau and Hengqin. Other possibilities include introducing new Big Health tourism facilities and products at Sands China’s integrated resorts and GMTCM Park to provide premium health management and medical care services for tourists and residents in Macau and Hengqin.
