Genting Berhad’s long-serving CEO, Malaysian billionaire Lim Kok Thay, has relinquished his role as CEO of the company, effective from March 1st.
Thay, however, will continue to serve as executive chairman of the group.
In an announcement late last week, the company indicated that the President and COO Tan Kong Han has stepped into the CEO role, while maintaining his position as president and executive director.
Tan has served as COO for 18 years, and has held the position of President since January of 2020.
Under Thay’s leadership, the company has grown across the globe, performing strongly in gaming and hospitality, energy and property development, palm oil, biotech and more.
Speaking of the leadership change, Thay noted that Tan’s appointment is “part of a multi-year succession plan”.
The executive furthered that Tan’s assumption of the CEO would enable him to “focus on my duty as the Executive Chairman of the Board and my other duties within the Genting Group”.
Amongst the appointment, Thay has stepped down as CEO of Genting Plantations Berhad, but remains as Executive Director of the company.
The 1xAffiliates team took part in SiGMA Eurasia 2025, one of the biggest gambling forums in the region. As a proud event sponsor, the brand showcased its leadership and expertise in the affiliate marketing industry.
At the booth, 1xAffiliates’ top managers shared insights on market trends and talked about unique earning opportunities with one of the best affiliate programs in the world. Guests enjoyed productive networking, participated in a giveaway of valuable prizes, and had the chance to meet Gregory van der Wiel – a legend of Paris Saint-Germain and the Netherlands’ national team.
1xAffiliates also gifted lucky winners a branded PlayStation 5, tickets to the Paris Saint-Germain’s match with an exclusive opportunity to attend the team’s training session, as well as the French giant’s retro jerseys and stylish merchandise. The star guest, Gregory van der Wiel, presented the grand prize, signed shirts, and took photos with the winners.
“The atmosphere at the 1xAffiliates booth was amazing, and it was a very interesting experience for me. It’s great to see so many people passionate about what they love, as well as to interact with fans and hand out prizes. Thanks to 1xAffiliates and the PSG for the opportunity to be part of this exciting event,” shared Gregory van der Wiel.
Gregory van der Wiel, former Dutch professional footballer
The event took place from February 23 to 25 at Festival Arena by InterContinental Dubai Festival City (Dubai, UAE) and gathered 14,000 guests, nearly 5,000 affiliates, and more than 300 speakers.
In addition, 1X won the Best Crypto Operator 2025 nomination, beating its competitors based on the decision of an authoritative jury and votes on the prize page.
The 1xAffiliates team thanks the organizers for the high level of the event and the excellent platform for knowledge exchange. The brand’s managers will continue strengthening ties with the professional community and look forward to new meetings at the world’s largest industry exhibitions.
DreamLeague stands as the crucible of innovation, where strategies are devised, legends are born, and Dota 2’s annals are redefined. Kicking off the 2025 esports season, DreamLeague Season 25 runs from February 16 to March 2, gathering the elite Dota 2 teams from across the globe to vie for a staggering $1,000,000 prize pool.
Team Falcons, the current champions, have a well-coordinated roster and quickly adapt to their opponents thanks to the variety of tactics in their arsenal. Veterans Cr1t- and Sneyking will try to bring the team to the top again.
BetBoom Team is last season’s finalists who want revenge. Their lineup includes experienced players like Pure and Kiyotaka, making them serious contenders for the title.
Team Spirit is a surprise team that can create a sensation. Yatoro and TorontoTokyo’s brilliant decisions are difficult to predict, as they can change the course of the game in their team’s favor at any moment.
PARIVISION is an ambitious squad that improves with each tournament. Crystallis and No[o]ne show an excellent performance, and the team is an unpleasant opponent for anyone.
The path to the DreamLeague Season 25championship
The tournament has three stages. In the first, 16 teams are divided into two groups of 8 participants and play in a round-robin Bo2 format. The four best squads from each group advance.
In the second stage, the eight remaining participants play each other in the Bo3 format. The two strongest teams advance directly to the final of the upper bracket, and those who take 3rd and 4th places play in the semifinals of the lower bracket.
In the tournament’s decisive stage, the upper bracket winner goes to the grand final. The remaining squads will fight for the last ticket in the lower bracket matches. The final will be held in the best-of-five format, where they need to win three maps to succeed.
Clash of tactics and new stars
Despite its top status, DreamLeague is a field for experiments, where teams test new tactics and fresh ideas. Participants are not afraid to take risks and surprise opponents with unconventional solutions, which is why millions of fans worldwide love this competition.
DreamLeague Season 25 is an ideal chance for many players and squads to make a name for themselves, attract sponsors’ attention, and increase their popularity. The tournament shapes trends in Dota 2 and influences the development of esports in general.
DreamLeague Season 25 predictions
1xBet experts carefully studied the balance of power before the tournament and identified teams capable of fighting for the title. Tundra Esports has a high chance of winning – the squad is stable and can bring important matches to a victorious end. Another favorite is Team Falcons. They have a rich history of success and ambitions to win the fourth season in a row. It is also worth paying attention to PARIVISION, which wants to challenge the top teams.
Global bookmaker 1xBet considers Asia one of its priority markets and wants to strengthen its position in the region. The 1xAffiliates program members play a crucial role in implementing this plan. The brand offers its partners the most favorable conditions: up to 50% lifetime commission from the bets of each attracted user and high conversion of registrations into deposits – up to 65%.
The best esports players train for years to get into the top teams, and you can join the betting industry leader in one day. Join 1xAffiliates – a community of over 100,000 partners who receive a stable and high income!
Macau’s gross gaming revenue (GGR) in February amounted to MOP19.74 billion ($2.46 billion), an annual rise of 6.8 percent.
February was largely expected to see an uptick, due to the Chinese New Year holiday falling partially within the month, prompting strong visitation and expectations for increased gaming and non-gaming spend.
The February figure amounts to an 8.16 percent increase from January’s GGR figure.
The CNY Golden Week period officially commenced on January 28th and ran until February 4th.
Hopes were for January’s gaming revenue to set the tone for the rest of the year, but February’s results should boost any confidence that was lacking after January’s GGR came in below expectations.
Global bookmaker 1X has been honored with the SiGMA Eurasia Awards 2025, one of the most esteemed accolades in the iGaming industry.
The awards ceremony was held on February 25 in Dubai, UAE, as part of the SiGMA Eurasia 2025 exhibition. 1X won the Best Crypto Operator 2025 nomination, beating its competitors based on the decision of an authoritative jury and votes on the prize page.
“We are pleased that the professional community has highly appreciated our work, as well as the most modern and convenient solutions for monetary transactions that we offer. Cryptocurrency is the future, and our team wants to shape it today. We will continue integrating innovative technologies into our platform to provide clients maximum freedom, security, and comfort,” said a 1X representative.
Winning the SiGMA Eurasia Awards 2025 marks another significant international success for 1X over the past year, including Mobile Sports Product of the Year at the International Gaming Awards 2025, Best Affiliate Program at the SiGMA Asia Awards 2024, and Best Esports Operator in Latin America at the SiGMA Americas Awards 2024.
Pronet Gaming, a leading provider of full turnkey platform solutions, has announced its participation in SPiCE South Asia 2025 (booth 1008-9) taking place from 4 to 6 March 2025 in Colombo, Sri Lanka.
SPiCE South Asia will focus on critical areas shaping the future of iGaming, including the latest trends in South Asia and Sri Lanka’s gaming markets, as well as best practices within the region. Pronet Gaming looks forward to discussing the unique opportunities and challenges that are emerging in the South Asian market.
“We are thrilled to be attending SPiCE South Asia 2025, a pivotal event that will provide valuable insights into the dynamics of the gaming industry in this rapidly evolving region,” said Alex Karaoulis, Commercial and Product Strategy Lead, Pronet Gaming.
“As we look to expand our operations in Asia this year, we recognise the immense potential of this market. Asia is an increasingly lucrative area for iGaming, and we’re excited to introduce the region to our award-winning platform and innovative solutions.”
Pronet Gaming, renowned for their cutting-edge gaming solutions, will showcase how its comprehensive suite of tools can power B2C online gaming businesses from launch to double-digit growth. By providing a full turnkey platform, Pronet Gaming offer scalable solutions that allow operators to enter the market with ease and maximise their potential.
With offices across various locations, the company brings together diverse talent and expertise from across the world. Many of Pronet Gaming’s team members have valuable experience in both B2B and B2C sectors, ensuring that their clients receive industry-leading service and support tailored to their specific needs.
“We’re looking forward to meeting like-minded professionals at SPiCE South Asia and demonstrating how Pronet Gaming can help power the next wave of successful online gaming businesses in Asia and beyond,” added Karaoulis. “Our team is committed to providing operators with the best possible tools to succeed in today’s fast-paced gaming environment.”
International Game Technology (IGT), a global leader delivering entertaining and responsible gaming experiences, has announced that IGT PlaySports is growing its sports betting presence in Nevada via a three-property, sports betting technology and services agreement with GN NV Holdings, owner and operator of the Golden Nugget Casinos.
IGT PlaySports will power retail and mobile sports betting at Golden Nugget Casino Lake Tahoe first, followed by Golden Nugget Casino Las Vegas, and Golden Nugget Casino Laughlin.
Golden Nugget Casino Lake Tahoe was the first of the three casinos to convert to an IGT PlaySports-powered sportsbook after launching its retail sportsbooks in January 2025. Golden Nugget Casino Laughlin and Golden Nugget Casino Las Vegas are expected to launch their new sports betting programs later this year, first with retail betting and then with a mobile betting option.
“Golden Nugget Casinos in Nevada are thrilled to partner with IGT PlaySports to elevate our retail and mobile sports betting experience statewide,” said Gerry Del Prete, Chief Operating Officer-Gaming of Fertitta Entertainment. “Nevada sports bettors are savvy and experienced players. As we reintroduce Golden Nugget’s betting program, our priority is to deliver a seamless and enhanced experience with user-friendly technology that offers outstanding features, including advanced betting options and real-time updates to keep players engaged.”
“Given the scale and maturity of Nevada’s sports betting market, adding three Golden Nugget Casinos to IGT PlaySports’ customer roster is an achievement that speaks to the quality of our technology and team,” said Joe Bertolone, IGT SVP Sports Betting. “We look forward to helping Golden Nugget Casinos elevate their sports betting program, execute their vision and engage sports fans in Nevada with localized offers, a diverse betting menu and superior technology.”
In addition to deploying the award-winning IGT PlaySports platform, the three Golden Nugget Casinos will offer IGT PlaySports’ QuickBet self-service betting kiosks and leverage the expertise of the Company’s Trading Advisory Services team.
Macau operators and executives are trying to figure out the exact impact that the White House’s designation of the SAR as a “foreign adversary” could have on their operations, finances and movement of capital. A top political scientist lays out the immediate potential problems the Macau operators could be facing, whether they are US-backed or not.
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.
Embattled Australian gaming operator The Star Entertainment Group has announced a trading halt, over speculation that the company might no longer be financially viable.
According to a Friday update, The Star is ‘continuing to explore possible liquidity solutions’ and ‘anticipates that it will receive one or more liquidity proposals during the course of today‘.
The group is also expected to publish its financial results for the second half of 2024 today but will only do so if it has received said liquidity proposals and, once determined by directors, whether those prove ‘whether the company can continue’.
If the half-year report is not lodged today, the company’s shares will be suspended from trading starting March 3rd.
The group reiterates that ‘there remains material uncertainty as to the Group’s ability to continue as a going concern’.
On Thursday, the Australian Financial Review reported that The Star was having difficulties in signing off on accounts, due to its weak cash balance and failed attempts at securing financial lifelines. This comes despite multiple offers, including from the group’s main Hong Kong-listed partners in its Queen’s Wharf Brisbane project.
The group is also facing lawsuits by the country’s financial watchdog ASIC – directed at 11 of the company’s former directors and executives. These are based around allegations of leadership failure relating to money laundering and criminal associations for the 2017-2019 period.
Genting Malaysia Berhad has reported a net loss of some RM485.6 million in 4Q24, a strong reversal from its RM217.6 million ($49 million) in profit for 4Q23, largely associated with costs linked to its bid for a gaming license in New York.
According to financials published on Thursday, the group also published a drop in adjusted EBITDA of 17 percent yearly, to RM621.5 million ($140.14 million), bullied by a revenue drop of 7.8 percent, to RM2.68 billion ($604.3 million).
In Malaysia, the group’s leisure and hospitality operations declined by just 1 percent yearly, to RM1.17 billion ($263.8 million), while adjusted EBITDA was down 7 percent, to RM490.4 million ($110.57 million). The group attributes this to ‘higher operating expenses during the period’.
Looking to the UK and Egypt operations, there was a 4 percent increase in revenue, to RM446.4 million ($100.6 million), ‘primarily driven by higher volume of business across the Group’s estate’. This comes despite currency fluctuations. Adjusted EBITDA was down for the segment, dropping by 39 percent, to RM55.2 million ($12.45 million), on higher operating costs and payroll expenses.
In the US and the Bahamas, Resorts World New York City saw revenue fall by 1 percent, to RM461.7 million ($104.1 million), also attributed to currency fluctuation. Adjusted EBITDA for the segment fell by 42 percent, to RM75.9 million ($17.11 million), on higher operating costs and payroll.
FY24
Overall the group finished the year on a high note, with total revenue up by 7 percent, to nearly RM10.7 billion ($2.41 billion), pushing a similar 1 percent increase in adjusted EBITDA to RM2.92 billion ($658.4 million).
The group notes that its Malaysia operations saw a 6 percent growth in revenue for leisure and hospitality, reaching RM6.28 billion ($1.42 billion), with adjusted EBITDA up by 1 percent, to RM2.1 billion ($473.5 million). The group notes that the improvements were ‘mainly attributable to the higher volume of business registered at Resorts World Genting’, despite higher operating expenses.
In the UK and Egypt, there was a 14 percent increase in revenue, to RM1.89 billion ($426.16 million), based on higher business volume, with a 2 percent increase in adjusted EBITDA, to RM297.9 million ($67.2 million).
Looking to the US and the Bahamas, there was a 6 percent yearly increase in revenue for leisure and hospitality, to RM1.98 billion ($446.45 million), mostly due to contributions from Resorts World New York City. Adjusted EBITDA fell by 4 percent, however, to RM530.2 million ($119.55 million).
Future outlook
Looking ahead, the group notes that it will hone its efforts on ‘refining marketing strategies to increase visitation’ at Resorts World Genting, while managing costs. The group highlights that its ongoing investments in infrastructure and attractions at Genting Highlands – including ecotourism experiences set to launch this year, will ‘further elevate the Group’s offerings’. The group is also planning a campaign of events and activities to celebrate the Genting Group’s 60th anniversary.
In the UK, the focus is on ‘identifying new growth opportunities to expand its market share’, mitigated by lowering costs and improving performance.
In the US, the group is aiming for one of the three new commercial casino licenses in New York, while expanding its current footprint via RWNYC and its Empire property.
Looking to the Bahamas, the aim is to focus on cruise operators, to drive more customers to its property: Resorts World Bimini.
