Altenar, a prominent name in sports betting and iGaming software, has launched the latest iteration of its acclaimed Bet Builder product, specifically designed for Italy’s sports betting market.
With Bet Builder functionality growing in popularity worldwide, Altenar’s latest innovation addresses Italy’s specific regulatory framework, empowering its operator partners to enhance their offerings and better engage users while remaining compliant.
The revamped Bet Builder enables bettors to combine multiple markets within a single event, with selections that remain independent of one another. This flexibility allows users to create personalised wagers with enhanced odds, unlocking the potential for more significant payouts.
Particularly popular in football, Altenar’s Bet Builder supports markets such as match result, correct score, total goals, corners, cards, and various player props. This feature provides bettors with the freedom to focus on the markets that matter most to them, enriching the betting experience and fostering higher user retention.
As well as football, Bet Builder will be also available on major US sports including basketball (NBA), American football (NFL), ice hockey (NHL), and baseball (MLB) in the near future.
To ensure optimal performance, Altenar leverages premium data feeds that enhance the number of available markets and deliver faster odds updates. Additionally, its comprehensive trading support and risk management systems monitor Bet Builders closely, safeguarding operators against the risks associated with high-payout potential.
Francesco Papallo, Regional Director for Italy at Altenar,said: “Altenar has developed the Bet Builder feature for several years, and it is used in many countries. However, it was our goal to also offer it to our Italian operators who, thanks to this product, can ensure player retention. This product demonstrates how Altenar is a high-level technological partner that can guarantee long-lasting partnerships and constant growth in various aspects.”
Evoplay, an award-winning game development studio, has announced the promotion of Ihor Zarechnyi to Chief Commercial Officer (CCO), reflecting the company’s commitment to strengthening its growth strategy and expanding its global footprint.
Zarechnyi joined Evoplay in 2021 as Head of Sales, where he achieved outstanding results in the company’s global expansion with leading operator partners.
In January 2024, he was promoted to Chief Business Development Officer (CBDO), spearheading the implementation of the company’s growth plan and overseeing the development of new products. His leadership has been instrumental in driving Evoplay’s recent financial success and development in key markets.
In his new role as CCO, Zarechnyi will oversee Evoplay’s commercial operations, leading market expansion initiatives, enhancing existing partnerships, and identifying new business opportunities.
His extensive experience and proven track record make him well-suited to guide Evoplay’s commercial strategy as the company continues to deliver innovative gaming experiences to players worldwide.
Ivan Kravchuk, CEO at Evoplay, said: “Ihor has been an integral part of Evoplay’s success, playing a pivotal role in expanding our commercial reach and building strong relationships with partners worldwide. His expertise, leadership, and vision make him the perfect fit for the role of Chief Commercial Officer.”
Ihor Zarechnyi, newly appointed CCO at Evoplay, added: “Having witnessed Evoplay’s development over the past few years, I am honoured to take on the role of Chief Commercial Officer at this vital time of expansion. We are keen to continue our upward trajectory by delivering fresh gaming experiences to more players than ever before, and I look forward to leading our commercial efforts as we continue to grow, innovate, and solidify our position as a market leader.”
FeedConstruct, a data-providing company that delivers the most precise sports data and streaming from sporting events worldwide, has announced a new partnership with the World Curling expanding its commitment to sports innovation and fan engagement worldwide.
The partnership will grant Exclusive International Betting Rights to FeedConstruct for the Pan Continental Curling Championships, European Curling Championships, Women’s and Men’s World Curling Championships, and the World Mixed Doubles Curling Championship.
Leveraging FeedConstruct’s expertise, World Curling will be able to focus on integrity and fair play from these broadcast events while also increasing the fan engagement experience in a new and data-rich manner.
World Curling Commercial Strategy Lead, James Beatt said, “We are excited to begin our partnership with FeedConstruct. World Curling have been looking at new ways to engage fans around the world and we see this as an important stepping stone in the process. I look forward to working with Narek and the FeedConstruct team.”
“We’re thrilled to partner with the World Curling to bring the excitement of curling to a broader audience.” said FeedConstruct CEO, Narek Harutyunyan. “Through this partnership, we’re committed to enhancing fans’ connection to the sport. By covering Exclusive International Betting Rights, we aim to deliver an immersive experience that highlights the thrill of each championship, while supporting the highest standards of integrity in sports.”
As Hong Kong’s fiscal deficit continues to deepen, calls for the further legalization of sports betting options has gained momentum, with key stakeholders advocating for a solution to boost government revenue.
The Hong Kong government is set to unveil its latest budget on February 26th, which has attracted significant attention. According to local media outlets, Heung Yee Kuk, a council-like organization representing interests in the New Territories of Hong Kong, has suggested legalizing sports betting on basketball, snooker, and tennis in a submission to Financial Secretary Paul Chan Mo-po. The submission includes 19 recommendations for the upcoming budget.
Kenneth Lau Ip-keung
The proposal, put forward by Heung Yee Kuk chairman Kenneth Lau Ip-keung, focuses on revenue generation rather than expenditure reduction. Lau has suggested that the government establish a government-owned sports betting and investment company, which would be subject to public bidding for its operation. He anticipates that the company could generate stable betting tax revenues of several billion Hong Kong dollars annually.
Lau cited the National Basketball Association (NBA) as an example of a major international sporting event that could be considered for legalized betting.
Meanwhile, the Hong Kong branch of the Association of Chartered Certified Accountants (ACCA) has supported the proposal, advocating for the inclusion of basketball in the sports betting scope to help broaden government revenues. The association also estimates that the Hong Kong government could face a fiscal deficit of HK$92 billion ($11.81 billion) in the 2024/25 financial year.
The executive highlighted the potential for legalizing betting to capture a significant portion of the current illegal basketball betting market. He estimated that up to 60 percent of the 150,000 punters currently engaging in illegal basketball betting could be redirected to legal channels.
The rise of illegal sports betting, particularly in the past five years, has been fueled by digitalization and the advent of cryptocurrency. During the COVID-19 pandemic, online betting surged, with many punters turning to offshore accounts.
According to Engelbrecht-Bresges, approximately 560,000 Hong Kong punters used illegal bookmakers last year, with 100,000 to 150,000 of them engaging in basketball betting alone. Legalizing basketball betting could draw a substantial number of these punters to the HKJC, thereby reducing the dominance of illegal platforms.
The illegal sports betting market is estimated to have a turnover of around HK$350 billion ($45 billion), with basketball accounting for 15 percent of the total. Legalizing basketball gambling could potentially generate a turnover of HK$52.5 billion ($6.7 billion), rivaling the turnover from football betting within the HKJC.
However, Engelbrecht-Bresges noted that significant infrastructure investment would be required to set up basketball betting, estimated at HK$1.5 billion ($191.7 million) to HK$2.5 billion ($319.6 million). He also projected that the legislative process for legalizing basketball betting could take about 18 months, similar to the timeline for football betting legislation.
Global sports betting and gaming group Entain plc has announced a significant leadership transition, with Chief Executive Officer Gavin Isaacs stepping down effective immediately by mutual agreement.
Stella David, currently serving as Entain’s Non-Executive Chair, will take on the role of Chief Executive Officer (CEO) on an interim basis until a permanent successor is appointed.
Gavin Isaacs, ex-CEO, Entain
David previously held the position of Interim CEO from December 2023 until September 2024. In a related move, Pierre Bouchut, who is currently the Senior Independent Director, will assume the role of Non-Executive Chair on an interim basis.
In a statement, Stella David expressed gratitude towards Isaacs for his contributions to the company. “Entain is making strong progress in delivering our strategic priorities,” she said.
“The Board is pleased with the Group’s performance in 2024 and trading so far this year. As announced on January 13th 2025, FY2024 Group EBITDA is expected to be at the top of the £1.04 billion ($1.2 million) to £1.09 billion ($1.3 billion) guidance range”, David said in the announcement.
David also emphasized that the Board and management are united in their focus on operational excellence and maximizing shareholder value. “I look forward to leading the business as we continue to accelerate our performance,” she added.
In other related news, Entain Australia reportedly is preparing to disband its Ladbrokes Racing Club (LRC) program, citing rising operational costs. The LRC was launched by Entain in 2023, offering members an ownership-like experience.
Are You Watching This?!, a premier provider of real-time sports excitement analytics, partners with FanDuel Sports Network to boost engagement and viewership.
Formerly Bally Sports, FanDuel Sports Network is owned by Main Street Sports Group.
Are You Watching This?! (RUWT) will expand the engagement and viewership of the network through automated, data-driven push notifications that highlight key sports moments in the making. RUWT’s patented Excitement Analytics will be integrated directly into the network’s Customer Relationship Management System and trigger an alert to FanDuel Sports Network app users.
Identifying ‘must-watch’ games in real-time empowers FanDuel Sports Network to leverage its portfolio of 30 NBA, NHL, and MLB teams, increasing stickiness for existing customers while simultaneously converting new ones.
In addition, RUWT’s automatically generated storyline summaries help capture users by explaining why the game is compelling, creating an extra pull for fans wanting to catch the best live action.
Are You Watching This?! Founder, Mark Phillip, said: “Working with FanDuel Sports Network lets us flex our Curation and Discovery muscles, two core elements of our ecosystem. Our proprietary tech drives subscriptions and reduces user churn for the network , and ensures viewers will never miss the most exciting action, whether it’s a dramatic overtime finish or a record-breaking comeback.”
Good morning. Build it and they will come, to collect their tax dollars. India has chosen to target its lucrative gaming firms by imposing a 28 percent GST tax on their earnings, to the potential detriment of the sector’s growth. At least that is the appeal in courts, which may only be offering a slight reprieve, as it appears unlikely that the official position will change, warns an expert. Meanwhile, Thailand’s casino plans may be hitting a bump in the road, as a former Prime Minister puts his weight behind annulling the country’s gaming legislation aspirations.
Appeals are ongoing, as the implementation of a staggering 28 percent GST tax on gaming companies in India has been met with harsh criticism and vitriol. But gaming firms aren’t yet out of the hot water, as authorities are unlikely to reduce the tax in the long term. Current court battles are going well for some firms, but they may only be getting a temporary reprieve, as the government is enjoying the windfall, notes expert David Pinto, cautioning that any current bandage is likely to be later removed.
In 2024, 1xBet achieved significant breakthroughs and successes, solidifying its position in the iGaming industry. The brand secured major partnership deals, received prestigious awards, and showcased its innovations at the world’s leading forums.
The recent intervention by India’s Supreme Court to temporarily halt the Goods and Services Tax (GST) show-cause notices against online gaming companies has stirred optimism, particularly among investors.
Goan finance consultant David Pinto
However, Goan finance consultant David Pinto cautions that while this is a welcome reprieve, it might not mark the beginning of a drastic reduction in the tax burden for the industry in the long term.
Pinto, who has been closely monitoring the gaming sector’s financial landscape, argues that even if gaming companies succeed in the courts, a significant reduction in taxation is unlikely.
The Supreme Court’s decision to temporarily halt GST show-cause notices worth Rs1.12 trillion ($13.5 billion) against online gaming companies has created a temporary sense of relief. However, Pinto emphasizes that investors should not get ahead of themselves. He stresses that the relief is “currently only temporary,” as the cases are still pending, and hearings are not expected to begin until March 2025.
“It’s just step 1 of a longer battle for the companies,” Pinto told AGB. While the suspension means that companies will not face immediate coercive demands or be required to make deposits with the authorities, the expert warns that the notices themselves are not time-barred and will continue throughout the proceedings.
Despite this temporary setback for the tax authorities, Pinto believes that even if gaming companies ultimately succeed in court, the likelihood of a significant reduction in taxation remains low.
“The government is benefiting from the tax increase. The companies have not crashed despite a growth slowdown. And the public isn’t bothered by it,” he states. He suggests that while there may be some adjustments or “tweaks” in the future, the current tax regime is likely to stay in place unless there is a major shift in policy thinking.
Impact of 28 percent GST on gaming
The implementation of a 28 percent GST on online gaming in India has raised significant concerns about its impact on the industry. Pinto acknowledges that the effects of the policy have been mixed, especially in terms of operational costs and consumer behavior. “For FY24, in which half the year was under the new framework, we should be careful not to put complete reliance on the performance of this year,” Pinto advises.
Some companies in the online gaming sector have shown growth despite the added tax burden. For example, Gameskraft, which operates platforms like Ludo Culture and Rummy Culture, reported a 30 percent rise in revenue. However, Pinto highlights that the company’s costs also surged by 72 percent, primarily driven by a doubling of advertising expenses. This has led to lower profit margins.
Similarly, fantasy sports company M-League, which operates Mobile Premier League, saw a 21 percent increase in losses, although this was partly due to a fair value loss on financial instruments. Without this, Pinto observes, the company’s loss would have decreased by 10 percent. While the worst-case scenario—the “Armageddon” of the industry crashing—hasn’t materialized, Pinto predicts that profit margins will likely remain lower than in the pre-GST era.
“In the casino sector, the major publicly listed entity is Delta Corp, and we see that their revenue hasn’t grown over the last year, even when we look at their divisions segment-wise,” Pinto adds. The company’s share price also hasn’t performed well, indicating that the industry is still grappling with the implications of the new tax regime.
Regulatory landscape
As the regulatory landscape for online gaming continues to evolve, all eyes are on the Supreme Court hearings scheduled for March 2025, which will address the legality of the 28 percent GST on bet value. Pinto highlights that, with billions of dollars in tax demands for many gaming companies—sometimes far exceeding their valuation, investors are anxiously awaiting a resolution.
“There’s a lot of speculation around this, and all investors will be eyeing this,” Pinto notes. However, he remains cautious about expecting any major shifts in policy. The government’s tax collection on online gaming has increased by 412 percent in the six months following the implementation of the 28 percent GST, amounting to an additional $600 million in revenue. Pinto believes that this growth in tax revenue has made the government less inclined to reduce the burden on gaming companies.
In terms of land-based gaming, Delta Corp, one of India’s largest casino operators, is currently constructing a new land casino in Dhargalim, Goa. The project has faced some environmental challenges, with petitions filed by activists against certain aspects of the construction. Pinto suggests that there may be further environmental objections as the project progresses, due to its scale. However, he points out that Goa has long been a hub for land-based gaming, and the construction of the Dhargalim casino is seen as a significant development in the industry.
Deltin Town (Dhargalim) – project render
Another interesting development in the land-based gaming sector is Delta Corp’s decision to demerge its business. The company plans to split into three parts, with Delta Corp focusing on gaming and cruises, while Delta Penland will handle its hotel and real estate business. This restructuring is expected to bring in outside capital for the Dhargalim casino project, with the potential for a fund infusion from external investors.
Adapting to changing consumption patterns
As the gaming market in India continues to grow, Pinto notes that consumer behavior is shifting, particularly as mobile gaming becomes more accessible. “The major factor that any online gaming company will have to remember is that if it doesn’t work on the smartphone, it isn’t going to work out,” he emphasizes. Gaming companies are adapting by ensuring that their platforms are optimized for a wide range of smartphones, not just high-end devices.
The consultant also highlights the increasing role of 5G technology and improved payment systems in shaping the future of online gaming in India. With the rollout of 5G, operators will be able to offer Indian consumers high-quality gaming experiences that were previously only available in developed countries. “The difference will be significant,” Pinto says. “Operators will be able to provide Indian consumers some of the best quality products in gaming, as the internet that a consumer is receiving is allowing them to keep pace with a developed country.”
The improvement in payment systems is also expected to make it easier for consumers to make in-app purchases, which could further drive growth in the online gaming sector. Pinto predicts that this will particularly benefit casual gamers, especially as younger players continue to embrace sports gaming and eSports, which are viewed more as entertainment than traditional card games.
Imperial Pacific International (IPI) and its committee of unsecured creditors have requested a federal court to approve Loi Lam Sit as the stalking horse bidder for the sale of the casino developer’s assets.
A stalking horse bidder sets a baseline price in an auction to attract other bidders, and according to The Marianas Variety, Sit, the general manager of Top Pride International Ltd., has shown financial capability to proceed with the purchase.
The court, presided over by Bankruptcy Judge Robert J. Faris, has approved the bidding procedures for the asset sale, requiring a minimum bid of $10 million.
If Sit is designated as the stalking horse bidder, he will offer $12.5 million and place a $1.25 million good faith deposit. The assets for sale include contracts, property in Saipan, and a potential casino license.
An auction is scheduled for February 26th, 2025, to determine the highest bid. IPI filed for Chapter 11 bankruptcy in April 2024, owing creditors over $165.8 million, after operating a casino until its closure due to the COVID-19 pandemic. Chapter 11 allows IPI to restructure its debts while continuing operations.
Las Vegas Sands has announced a significant delay in the much-anticipated expansion of Marina Bay Sands, with the completion now projected for January 2031.
According to a Las Vegas Sands US SEC dispatch, the announcement follows the signing of a second supplemental agreement with the Singapore Tourism Board (STB) on January 8th, 2025, which formalizes the timelines for the Marina Bay Sands Expansion Project.
Originally initiated in April 2019, the expansion was set to include a new hotel tower featuring luxury accommodations, a rooftop attraction, premium gaming areas, and a state-of-the-art live entertainment arena with a capacity of approximately 15,000 seats.
The total estimated cost for the project is around $8 billion, which encompasses financing fees, land premiums, and the addition of 2,000 square meters to the gaming area, expanding the total approved gaming space to 17,000 square meters.
Under the new agreement, MBS has committed to assume responsibility for the costs associated with purchasing additional land premiums, which are necessary due to changes in the allocations of gross floor area for the project.
The construction is now slated to begin on July 8th, 2025, with a completion target of July 8th, 2029. However, any extensions beyond this deadline will require government approval.
To date, Las Vegas Sands has invested approximately $1.36 billion into the project, including initial land lease payments made in 2019. An additional land premium of about $1 billion is anticipated, with $850 million expected to be paid in the second quarter of 2025.
In addition to the MBS Expansion Project, Marina Bay Sands has recently completed renovations on Towers 1 and 2, introducing world-class suites and luxury amenities at a cost of around $1 billion.
Ongoing renovations in Tower 3 are estimated at $750 million and are expected to be completed in phases during the first half of 2025. These upgrades aim to enhance the overall guest experience, offering new dining and retail options, as well as improvements to the casino floor.
