Kevin McGowen leads Bombay Group into a new era as CEO

Europe

AGBrief Editorial

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February 9, 2025

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Kevin McGowen leads Bombay Group into a new era as CEO

Bombay Group, the renowned company known for its innovative approach to luxury gaming and hospitality, is set to embark on an exciting new chapter by appointing Kevin McGowen as the new CEO.

“Time has arrived to welcome all suitable discerning players from across the globe to experience our unparalleled gaming offerings,” said Mr. McGowen as he sees Bombay Group as a global leader in redefining the gaming experience that combines cutting-edge technology, cashless systems, and private, exclusive environments to reshape the traditional casino industry. “I’m hugely impressed by the Bombay team’s dedication to elevating standards in the high-end gaming industry from a product and compliance perspective. One of my goals for the near future is to engage even broader global experience in the team,” added the new CEO Kevin McGowen.

Anita Brinke, Bombay Group — Anita Brinke, interim CEO, Bombay Group

The company’s interim CEO, Anita Brinke, has set the stage for Bombay Group’s next phase of growth as the final preparations for the opening of the unique venue are concluded, and the organisation is well-prepared for its ambitious goals.

“The ultimate goal of my work of recent years has been to realise the unique vision of a destination that is totally worth a separate journey regardless of how much one has experienced in life. Only a few weeks remain until the opening of The Burman and in combination with the Bombay Club they will complete the redefining of modern high quality entertainment. Now is a good time to pass the baton so that Kevin can give our crown jewel the final shine,” said Brinke assuredly.

Kevin McGowen, a Chief Executive has over 30 years of experience in gaming, hospitality and relationship marketing. Most recently, he served as CEO of Les Ambassadeurs, a prestigious private members’ casino in Mayfair, London. Kevin’s career spans across major global gaming jurisdictions and client feeder markets, including Las Vegas, The Bahamas, London, the Far East, and the Middle East. Kevin’s extensive experience in both land-based and online gaming will play a pivotal role in realising the Group’s ambitious vision.

The Group is also pleased to announce Dajana Tiitsaar as Chief Operating Officer. Dajana’s strong operational background and extensive knowledge of local market dynamics will play a critical role in ensuring seamless daily operations. Dajana joined Bombay Group from Enefit, an Estonian based energy company where she last held the country manager position, she also has over a dozen years of experience in tourism, hospitality and marketing. Her appointment underscores Bombay Group’s commitment to operational efficiency and long-term success.

In August 2024, Bombay Group proudly opened the Bombay Club, alongside world-class restaurant, bars, and lounges in Tallinn. Looking ahead to March 2025, Bombay is set to open its highly anticipated hotel, The Burman, in Tallinn’s historic Old Town. Dating back to 1850, The Burman is among the city’s historic gems. The hotel will open with two additional restaurants, a bakery, and a spa, further enhancing and enriching the character of Tallinn’s historic Hanseatic town. This addition will complete the full buildout of the project, cementing Bombay Group’s commitment of delivering premium world-class experiences in gaming and hospitality.

Under the new terms, Sportradar, in partnership with MLB, will exclusively distribute MLB’s ultra-low latency official data, media content, including MLB Statcast Data, and AV content across its global client network, which spans 800 sportsbook clients and 900 media companies. The continued, growing popularity of baseball in markets like Latin America and Asia, combined with the increasing legalization of sports betting, creates an opportunity for expanded utilization of MLB content and data.

To ensure the integrity of the sport, Sportradar will continue to provide best-in-class integrity services, including Sportradar’s Universal Fraud Detection System (UFDS) to monitor global betting activity, as well as offer investigative and educational support to MLB.

Additionally, Sportradar and MLB will collaborate on the creation of AI-driven products powered by player tracking data to create immersive, hyper-personalized fan experiences.

In consideration of the rights and benefits granted under the arrangement, Sportradar will pay the applicable annual license fees and MLB will be issued up to an aggregate of 1,855,724 Class A ordinary shares during the term, subject to customary terms, conditions and adjustments.

Kenny Gersh, MLB Executive Vice President, Media & Business Development, said: “Sportradar has been a great partner to MLB, particularly helping us navigate the legalization and continued evolution of the global sports betting landscape. Over the course of our partnership, Sportradar has consistently developed great products utilizing MLB’s best-in-class data. MLB is delighted to continue innovating with Sportradar to create engaging products and services for MLB fans globally.”

Carsten Koerl, Chief Executive Officer, Sportradar, said: “We are thrilled to continue our long-standing partnership with MLB, and this agreement represents a new, exciting chapter in our journey together. Our collaboration is not only about leveraging cutting edge technology and content but also working together to create innovative products that enhance fan engagement and bring fans closer to the game. By combining our strengths, we can unlock new opportunities and reach more sports fans around the globe to shape the future of sports entertainment. This deal, which is immediately accretive to our business, will drive value for our shareholders as we continue to expand margins and generate strong cash flow.”

Major League Baseball and Sportradar extend exclusive partnership until 2032

Sportradar has been an official partner of MLB since 2014. Most recently, MLB selected Sportradar’s Synergy Sports Coaching & Scouting solution to provide unparalleled sports performance analysis to the league and its 30 Clubs.

The group notes that its strategy to further develop its Gaming Business was announced last May, as the group aims to build a customer base by developing and providing gaming machines and content to Sega Sammy Creation (SSC), while ‘accumulating know-how in casino operations that also can be used for online gaming’. This was through its joint venture to operate Paradise City.

The organization now places all gaming aspects directly under SSC, including iGaming supplier GAN Limited and iGaming platform Stakelogic.

In a separate release, the group noted that is pushing back the expected closing schedule for GAN Limited to the first quarter of the company’s fiscal year ending March 2026. The deal was first announced in November of 2023 and approved by GAN shareholders in February of 2024 – being valued at $107.6 million.

The Stakelogic acquisition is also expected to be finalized in the first quarter of 2026. It’s been valued at about $141 million.

The group notes that both acquisitions are aimed at ‘entering the online gaming market, particularly the US iGaming market, which is expected to expand in the future’.

Under the new system, the company indicates it will have ‘centralized management of gaming licenses and other controls, and for collaboration among the gaming business locations scattered around the world’.

Greentube broadens reach in Connecticut with new game offerings

United States

AGBrief Editorial

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February 7, 2025

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Greentube broadens reach in Connecticut with new game offerings

Greentube, the NOVOMATIC Digital Gaming and Entertainment division, has significantly expanded its presence in Connecticut, launching its content with a further operator in the state.

This follows its initial launch in Connecticut earlier this year and reinforces the company’s commitment to the growing US market.

A wider player pool in Connecticut now has access to Greentube’s popular titles, including recently added SilverLux BigWin Spinner, Piggy Prizes™ Wand of Riches™, and Diamond Cash™ Mighty Buffalo. These games join Greentube’s already popular portfolio in the state, further diversifying the entertainment options available to slot fans.

This expansion highlights Greentube’s successful growth strategy in North America, building on established footholds in key regulated markets such as New Jersey, Michigan and Ontario. The company continues to focus on delivering its diverse and engaging content to players across the continent.

Michael Bauer, CFO at Greentube, said: “We’re thrilled to expand our footprint in Connecticut, partnering with two leading operators to bring our US portfolio of games to players in the state. This expansion in a key market is a significant step towards our goal of simultaneous game launches across all our active US jurisdictions.”

Good morning. When a loan is dubbed the ‘largest hospitality financing transaction’ in the UAE, you know it’s big. But nothing less was to be expected from Wynn Resorts, who now says its financing is comple te to finish Wynn Al Marjan Island and open it in 2027, after nailing down $2.4 billion from a group of lenders. Meanwhile, in Macau, expectations are still high for FY25 GGR, despite a slow CNY. Analysts at Seaport say that if China can improve its economy and boost consumer sentiment, Macau can stand to further benefit. However, experts are pointing out that the lackluster CNY results could be the result of a pivot away from its main market, urging operators to refocus on its mainland China clientele.

What you need to know

Wynn Resorts completes financing for Wynn Al Marjan Island by securing $2.4 billion loan, largest in UAE hospitality history.
Seaport maintains Macau FY25 GGR growth estimates, with potential upside if Chinese economy and consumer sentiment improve.
Macau should refocus on its core tourism base, after Chinese New Year results fail to meet expectations, say experts.

On the radar

PAGCOR breaks ground on new corporate office building in Pasay City.
Three arrested in illegal gambling live-stream at Macau VIP rooms.
AGEM Index grew by 4.2% m-o-m in January, up nearly 40% yearly.
Leaders of China and Thailand pledge to strengthen cybercrime prevention.
Entain Australia disbanding Ladbrokes Racing Club, citing costs.
Kangwon Land debuts pilot foreigner-only casino zone: report.
Two pose as PAOCC agents to solicit bribes from POGO family members.
Macau’s GGR unlikely to return to pre-COVID levels: Ponte 16 boss.

AGB Intelligence

UAE

Wynn secures $2.4B loan to complete Wynn Al Marjan Island

Dubbed by the company as ‘the largest hospitality financing transaction in the history of the United Arab Emirates’, Wynn Resorts has secured the financing necessary to complete its Wynn Al Marjan Island project. Still slated to open in 2027, the new $2.4 billion loan to a subsidiary of the group’s joint venture paves the way for the UAE’s first integrated resort.

Industry Updates

Altenar strengthens its Brazilian presence with new office in São Paulo.
Slotegrator discloses top gamification trends for 2025 in gambling.
ZITRO debuts CONCEPT and new games at PlayCity Casinos Mérida.

Corporate Spotlight

1xBet’s 2024 Milestones: key achievements & heights of success

1xBet 2024 Milestones Key achievements and new heights of success

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.

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The company further indicates that Abu Dhabi Commercial Bank PJSC and Deutsche Bank AGB acted as Joint Coordinators of the financing, while First Abu Dhabi Bank PJSC, Emirate NBD Capital Limited and The National Bank of Ras Al Khaimah acted as Initial Mandated Lead Arrangers, Bookrunners and Underwriters. Sumimoto Mitsui Banking Corporation DIFC Branch, Dubai acted as Lead Arrangers, while First Abu Dhabi Bank PJSC acts as Agent and Security Agent for the lenders.

The group indicates that it is still expecting the 1,542-room property to open in 2027, being the first integrated resort in the UAE, located 50 minutes from Dubai International Airport.

The project is expected to cost a total of $5.1 billion, with expectations by some analysts that it could transform Ras Al Khaimah to the fourth major gaming market worldwide.

Currently the construction team is completing one floor per week, with aims for a topping off in December of this year. Some 64 percent of the structural concrete has been completed up to the 34^th floor of the main resort tower, with the resort tower growing 140 feet in the past 100 days, according to Wynn.

Some 1,226 guest rooms in the tower structure have been completed, or 80 percent of the total, while more than 20 percent of the exterior façade window glazing has been completed. Fit out is underway for 1,121 rooms, while in the low-rise segment of the building, concrete and steel structures are a combined 70 percent complete.

Wynn Al Marjan Island, Hotel entrance project render, Wynn Resorts — _{Hotel arrival at Wynn Al Marjan Island}

Wynn Al Marjan Island, view from the pool, project render, Wynn Resorts — _{Hotel arrival at Wynn Al Marjan Island}

Wynn Resorts is developing the project in partnership with Marjan and RAK Hospitality Holding, while Wynn Design and Development is overseeing all facets of the project’s design and construction.

PlayCity Mérida, a renowned Mexican casino, is upgrading its entertainment options by adding Zitro‘s highly successful CONCEPT cabinet line. Alongside this, players can indulge in new games such as Legendary Sword, Fairyland Quest, Triple Charm Journey, and Lucky Vault, catering to various player preferences.

In Legendary Sword, players embark on an epic adventure in a medieval world, where the Magic Sword paves the way to achieve Honor and Glory. The game is played on a large 6×5 reel set, enhanced by different combinations of features such as “Honor,” which multiplies prizes; “Glory,” which grants additional spins; and the “Magic Sword,” which doubles all the prizes in its column.

For its part, Fairyland Quest transports players to an enchanted forest full of surprises. The Magic Mushrooms give access to a different bonus each, while the enchanted Fairy gives you a special bonus that doubles the playing area, offering a magical and different experience.

Triple Charm Journey surprises with features such as “Rise,” which increases winnings with each spin until the end of the bonus; “Collect,” which accumulates the values of Link symbols; and “Enigma,” which multiplies its value and that of some Link symbols on the screen.

ZITRO invites players to unlock hidden treasures in Lucky Vault (2)

Finally, Lucky Vault challenges players to open 3 colorful vaults, which grant additional rewards in both the base and free games. In Free Games, the “Multiplier” feature grants Wild Multipliers and the “Bank” feature, the Mega, Super, Minor, or Mini jackpots, by collecting the matching symbols. The player can unlock their corresponding Jackpot values with 4 identical Minor/Mini symbols or 5 identical Mega/Super symbols.

José Fernando López, product manager of PlayCity Casino, commented: “The CONCEPT cabinets have had an outstanding performance, and it is to be expected when you combine new games with superior graphic quality, a unique design, and innovative game mechanics. Having a product like this has helped us position PlayCity as a preferred destination for entertainment in Mérida.”

For his part, Johnny Viveiros Ortiz, founder of Zitro, affirmed: “It is a pleasure to see how our CONCEPT cabinet line and games continue to gain ground in Mexico. We are confident that these additions will continue to provide memorable experiences to players at PlayCity Mérida and throughout the country.”

According to a Thursday note, Senior Analyst Vitaly Umansky mentioned the increased tariff regime in the US, which could cause ‘China policymakers to more forcefully look at expanding consumption and improving domestic consumer confidence’. This will largely hinge on fiscal stimulus and regulatory easing measures, with a central focus of ‘shoring up the real estate market’.

If the measures are effective, this ‘could lead to stronger base mass recovery (with continued premium growth) in the latter part of 2025’.

Umansky notes that gaming stock valuations ‘remain largely depressed, setting up a continued strong risk/reward positioning’.

Regarding estimates for February, the senior analyst indicates ‘slightly better’ expected results compared to January, depending on how strong the rest of the month is post-CNY. The estimate is based on average daily GGR of MOP609 million (3 percent above January’s ADR) ‘which should be achievable’.

February GGR is estimated to reach MOP18.5 billion ($2.3 billion), up by 0.1 percent yearly and 1.3 percent month-to-month. ‘If our estimate winds up being correct, the combined Jan/Feb period would be -2.8 percent year-on-year’.

Top picks for the analyst are Las Vegas Sands, Sands China and Galaxy, ‘as the companies should have catalysts in 2025 with share gains in Macau (and continued Singapore strength for LVS)’.

Meanwhile, Melco Resorts and MGM ‘have the highest potential upside if valuations normalize, despite negative investor sentiment for both stocks. Seaport maintains a ‘sell’ suggestion for SJM due to ‘difficult balance sheet issues in the coming two years and lack of ability to material take market share in Macau’.

Ma explained that, while the VIP sector once accounted for half of Macau’s gaming revenue, it now makes up just 20 percent of its pre-COVID contribution. However, he highlighted that mass-market revenue has increased by more than 10 percent compared to the pre-pandemic period. To further boost overall gaming revenue, Ma believes the focus should be on increasing foot traffic, particularly within the mass-market segment.

According to statements to Hong Kong media, looking ahead to 2025, Ma predicts modest single-digit revenue growth, citing near-full hotel occupancy as a key factor. His outlook aligns with projections from other investment banks. Despite ongoing economic recovery, Ma views a modest growth rate as a positive outcome, with hotel room rates remaining steady compared to last year.

A key strategy for growth, according to Ma, is increasing visitor numbers. He is optimistic that recent visa policy changes—allowing Hengqin residents to travel to Macau multiple times with a single visa and Zhuhai residents to visit weekly—will help drive higher foot traffic.

During the Chinese New Year period, for example, Macau saw a notable increase in visitors compared to non-holiday periods. Meanwhile, Hengqin has gained popularity among mainland Chinese travelers, which could lead to a higher number of overnight visitors there.

In this context, there are concerns that the new visa policy, which allows visitors to travel more freely between Macau and Hengqin, could impact hotel occupancy rates in Macau.

However, the Ponte 16 boss says he is not concerned, as he believes expanding the market will bring long-term benefits and does not foresee any significant impact on consumption. He also mentioned that the company has no plans to expand its footprint in Hengqin.

Lukewarm Macau visitation dampens Chinese New Year GGR performance: CLSA

Tourism diversification

In the same comments to the Hong Kong press, Ma emphasized the need for diversification in Macau’s tourism offerings. He argued that Macau should move beyond traditional souvenir items, such as food products, and collaborate with local artists and designers to develop new, creative products that reflect the city’s unique culture.

As for tourism diversification, Ma noted the growing presence of concerts and events in the city. While Hong Kong’s upcoming Kai Tak Sports Park will provide a large venue for performances, Ma does not view it as a direct competitor. He sees the tourism offerings of both cities as complementary rather than competitive.

“In the past, travel between Hong Kong and Macau often formed part of a single itinerary for many visitors from Southeast Asia, Japan, Korea, and mainland China. I believe that the development of our shared industries is not a matter of competition, but an opportunity to think creatively about which events suit each location,” he concluded.

Kevin McGowen leads Bombay Group into a new era as CEO

Bombay Group, the renowned company known for its innovative approach to luxury gaming and hospitality, is set to embark on an exciting new chapter by appointing Kevin McGowen as the new CEO.

Table of Contents

Major League Baseball and Sportradar extend exclusive partnership until 2032

Major League Baseball (MLB) and Sportradar Group have announced a long-term extension and expansion of their partnership, starting with the 2025 season. This initiative is designed to maximize the potential of MLB’s data and audiovisual (AV) content, fostering the growth of the sport worldwide.

Table of Contents

Sega Sammy reorganizing Gaming Business, transferring Paradise City shares to subsidiary

Sega Sammy Holdings is reorganizing its structure, transferring its common shares in South Korean joint venture Paradise SegaSammy to its gaming manufacturing subsidiary Sega Sammy Creation.

Greentube broadens reach in Connecticut with new game offerings

Greentube, the NOVOMATIC Digital Gaming and Entertainment division, has significantly expanded its presence in Connecticut, launching its content with a further operator in the state.

Table of Contents

Daily Asia Gaming eBrief: Wynn Al Marjan Island financing complete with new $2.4B loan

What you need to know

On the radar

AGB Intelligence

UAE

Wynn secures $2.4B loan to complete Wynn Al Marjan Island

Industry Updates

Corporate Spotlight

1xBet’s 2024 Milestones: key achievements & heights of success

Table of Contents

AGEM Index grew by 4.2% m-o-m in January, up nearly 40% yearly

The AGEM Index saw a healthy rebound in January, rising by 4.2 percent from the prior month. Particularly, however, the Index saw healthy growth of 39.5 percent compared to January 2024.

Table of Contents

Wynn Resorts secures $2.4B in financing to complete Wynn Al Marjan Island

Wynn Resorts has announced that it has completed the financing for Wynn Al Marjan Island, obtaining a $2.4 billion construction facility with a global syndicate of lenders.

Table of Contents

ZITRO debuts CONCEPT and new games at PlayCity Casinos Mérida

Table of Contents

Seaport maintains FY25 Macau GGR estimate, could see uptick on improved Chinese economy

Despite the slow Chinese New Year period, Seaport Research Partners maintains its prediction for Macau 2025 gross gaming revenue (GGR) growth at ‘nearly 7 percent […] with upside surprise possible on a turnaround in the Chinese economy and consumer sentiment’.

Table of Contents

Macau’s GGR unlikely to return to pre-COVID levels: Ponte 16 boss

Hoffman Ma Ho Man, deputy chairman of Success Universe Group, which operates the Ponte 16 casino in Macau, has stated that it is “unrealistic” to expect the region’s casino gross gaming revenue (GGR) to return to pre-pandemic levels.

Tourism diversification

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