Imagine Live, a live casino supplier, has named Digitain’s Deputy CEO Martin Martirosyan as its new Group CEO.
The executive will maintain his role with Digitain amongst the new appointment.
Martirosyan originally joined the leadership team of the Digitain Group in 2023.
The Digitain Group’s founder, Vardges Vardanyan, praised the CEO on his new role, noting that “As we strategically expand across various regulated markets, it is vital that we realign our leadership team and business unit structures.
“Martin’s extensive leadership and multi-jurisdictional market experience position him perfectly to lead our team, and with Imagine Live’s exceptional performance in the premium segment of live dealer solutions, we anticipate remarkable expansion under Martin’s guidance,” he noted.
Last January, Imagine Live announced that it was launching an Asian-themed Live Casino Studio, including Speed Baccarat, Sic Bo 102 and Dragon Tiger baccarat, all within a studio designed to draw inspiration from Asian cultures. The studio operates 24/7.
Resorts World Genting (RWG), the only casino in Malaysia, has recently unveiled a new mass gaming floor: Genting Casino. While this move is seen as a positive step for Genting Malaysia, an analyst cautions that its impact on the company’s overall performance will be minimal.
Shao Yang Yin, from Maybank, points out that – despite the added gaming capacity – the new floor is not large enough to compensate for the absence of key mass gaming floors, which are still under renovation.
The Genting Casino is divided into two areas with distinct themes—one resembling the Sky Casino, and the other featuring traditional Chinese elements. While the floor includes a mix of slot machines and electronic tables, it is relatively modest in size compared to the closed Circus Palace and Hollywood mass gaming floors, which are much larger.
The new casino offers only 36 conventional tables, with minimum bets ranging from MYR10 ($2.2) to MYR100 ($22). However, the lack of smoking lounges is seen as a downside, as gamblers must leave the casino to smoke, potentially affecting the length of their play.
In a recent visit to RWG, Shao Yang Yin observed that, while the Genting Casino’s opening adds capacity, it is unlikely to “move the needle” for Genting Malaysia’s overall revenue. “The Genting Casino is a positive addition, but its size is nowhere near the capacity of the Circus Palace and Hollywood floors, which remain closed for renovations,” Yin said.
The renovations of these larger gaming floors have been delayed since February 2024, with no definitive reopening date in sight. Genting Malaysia has reassured the public that both Circus Palace and Hollywood will eventually reopen, but the timing remains uncertain. As a result, the company’s short-term gaming revenue projections have been revised downwards, with analysts cutting their long-term mass market gross gaming revenue (GGR) forecasts by 25 percent.
Despite the limited immediate impact of the new Genting Casino, there are still positive aspects of the development. For example, the casino’s use of electronic tables and slot machines may help reduce operational costs by requiring fewer staff, which could result in higher margins. However, the new floor still represents only a small fraction of the total capacity previously available when the Circus Palace and Hollywood floors were operational.
Yin remains cautious about revising earnings estimates for Genting Malaysia. “The new casino floor is a step in the right direction, but until the larger gaming areas are fully reopened, we do not see an immediate need to revise our earnings forecasts,” he said.
For analyst to consider increasing their earnings estimates, the reopening of the Circus Palace and Hollywood mass gaming floors is essential, as their combined capacity represents a significant portion of RWG’s overall gaming offering.
In the meantime, analysts maintain their ‘BUY’ recommendation for Genting Malaysia, noting that the company’s current valuations remain attractive despite the slower-than-expected recovery in its mass gaming operations. With potential upside from the reopening of the larger gaming floors, there is optimism that Genting Malaysia can eventually recover its previous revenue levels.
Genting Malaysia’s latest financial update revealed a 3Q24 revenue of RM6.5 billion ($1.47 billion), reflecting an 11 percent decline from RM7.4 billion ($1.65 billion) in the same quarter of the previous year. This drop was mainly attributed to a decline in the Leisure & Hospitality Division.
However, for the nine months ending September 30th, 2024, the company saw financial growth. Genting Malaysia reported a revenue of RM20.8 billion ($4.69 billion) and EBITDA of RM7.1 billion ($1.6 billion), representing increases of 5 percent and 8 percent, respectively, compared to the same period in 2023.
One of Vietnam’s major banks has denied claims that its executives were linked to gambling and had transferred large amounts of money overseas.
According to recent media reports, Asia Commercial Bank (ACB), one of the country’s top 10 most profitable banks last year, has blasted the claims, saying the rumors had damaged the company’s image as well as the honor, dignity and rights of its Chairman Tran Hung Huy,
The company has indicated that it will collect the material necessary to further its case ensure accountability for those involved.
The company response comes after a social media influencer on the TikTok platform claimed that ACB’s chairman had engaged in gambling and illicit money transfers involving tens of millions of dollars.
In its release, ACB states that ‘As a leading bank in risk management, ACB always affirms transparency, safety and high responsibility in all activities to ensure the interests of customers, shareholders and partners’.
Light & Wonder welcomed 2025 with some new leadership changes, elevating Glenn Huybrecht to the role of Vice President and Managing Director for Asia.
The executive made the announcement via LinkedIn, noting that “As LNW Asia becomes a true growth engine, I’m determined to build our growth mindset and our innovation focus across the region”.
In his post, the executive praised the support from industry veterans Ken Jolly, Simon Johnson and Siobhan Lane.
Ken Jolly and Simon JohnsonSiobhan Lane
Jolly has moved into the role of Vice-President for Strategic Development for Asia, while Johnson remains as SVP & International Managing Director (for EMEA, Asia and ANZ). Siobhan Lane is LNW’s Chief Executive Officer – Gaming.
Furthering his comments on the new role, Huybrecht noted that “the gaming market is rapidly expanding across Asia, we will focus on embedding customer centricity in our execution to ensure we become true business partners to our esteemed patrons”.
Light & Wonder posted a 12 percent yearly increase in its third-quarter revenue, reaching $817 million, despite net income falling to $64 million, due to restricting costs and ‘certain legal matters’.
Good morning. The only way is up. Strong spending from Chinese tourists in 2025 is expected to boost Macau GGR by 8 percent, with both mass and VIP markets to report increases, Goldman Sachs predicts. In Japan, a public interest organization based in Tokyo, has warned that online gambling addiction has become a significant issue in Japan since the onset of the COVID-19 pandemic.
Goldman Sachs forecasts an 8 percent year-on-year growth in Macau’s gross gaming revenue (GGR) for 2025, fueled by robust travel spending from Chinese tourists, which is expected to outpace general consumption trends in China, projected to grow by 7 percent. Analysts predict a 9 percent rise in mass GGR and a 4 percent increase in VIP revenue, with EBITDA expected to grow by 11 percent.
Established over a decade ago, The MongolZ has experienced numerous roster changes. However, in 2023, The MongolZ made a triumphant return, fueled by a robust partnership with 1xBet and the emergence of a new generation of talented Mongolian players.
Altenar, a leading sportsbook provider is bringing its global expertise to Asia, looking to expand its operations. Since 2011, Altenar has powered hundreds of online sports betting sites worldwide and is a major B2B provider in Europe and Latin America licensed markets.
In response to a dramatic increase in consultation requests related to gambling addiction in recent years, the Society Concerned about Gambling Addiction, a public interest organization based in Tokyo, has warned that online gambling addiction is becoming a significant issue in Japan.
This problem has worsened particularly since the onset of the COVID-19 pandemic in 2020. According to The Japan Times, the association reported that consultation requests have surged 11-fold over the past five years.
The organization highlighted a troubling trend of individuals resorting to illegal part-time jobs to finance their gambling activities. “I feel a sense of crisis over the current situation in which many people are addicted to gambling and commit crimes,” said Noriko Tanaka, the head of the association. “Illegal online casinos must be eradicated.”
Between January and November 2024, the association received 91 consultation requests concerning family members gambling on online casinos. In comparison, only eight such cases were reported in 2019, prior to the pandemic’s impact on societal behavior.
Online casinos have significantly contributed to gambling addiction by providing 24/7 accessibility via smartphones, enabling users to gamble from the comfort of their homes.
A recent survey conducted by the association found that 30 percent of its 681 respondents reported that family members addicted to gambling had engaged in criminal activities, including embezzlement, theft, or involvement in illegal part-time jobs.
This issue is not unique to Japan. In October last year, data from South Korea revealed that the number of teenagers struggling with gambling addiction had more than doubled over the past four years, accompanied by a staggering 14-fold surge in online casino participation.
Representative Cho Gye-won of the opposition Democratic Party of Korea noted that, according to data from the Korea Center on Gambling Problems (KCGP), the number of teenagers receiving gambling addiction counseling has risen from 1,286 in 2020 to 2,665 by the end of August this year. While more teenagers are seeking help, the severity of their addiction remains concerning.
Imagine Live, the leading provider of live dealer solutions, has appointed Martin Martirosyan, PhD, as its new Group CEO.
With a PhD in Economics and a proven track record in business leadership, market expansion, and scale-up growth, Martin Martirosyan brings a wealth of expertise to his new role at Imagine Live. He joined the leadership team of the Digitain Group, founded by Mr. Vardges Vardanyan, as Deputy CEO in 2023, which he will retain. Martirosyan has already made a significant impact across several geographical operational business areas.
Vardges Vardanyan, Founder, Digitain
Vardges Vardanyan, Founder of the Digitain Group, emphasized the importance of this appointment: “Martin has played a crucial role in our growth success since he joined last year as Group Deputy CEO, a role he will continue to hold in conjunction with the Group CEO role of Imagine Live.”
“As we strategically expand across various regulated markets, it is vital that we realign our leadership team and business unit structures. Martin’s extensive leadership and multi-jurisdictional market experience position him perfectly to lead our team, and with Imagine Live’s exceptional performance in the premium segment of live dealer solutions, we anticipate remarkable expansion under Martin’s guidance, providing top-tier service to our B2C partner operators in high-value regulated markets.”
Martin Martirosyan affirmed his commitment: “I am excited to take on the role of Group CEO. Imagine Live is poised for greatness, with operations expanding across continental Europe, the United Kingdom, and beyond. Our organisation exemplifies excellence in its leadership, culture and technology delivery, as evidenced by our numerous international and local industry peer-to-peer awards. I am ready to drive this next phase of Imagine Live’s growth story forward.”
BetConstruct, the award-winning developer and provider of online and land-based gaming solutions with development, sales, and service centers worldwide, has redefined excellence in the iGaming landscape through strategic innovation and pioneering market expansion throughout 2024.
The company’s journey has been marked by transformative achievements, from securing prestigious licenses and launching revolutionary products to hosting landmark industry events that have set new benchmarks. As we enter 2025, these milestones have laid the groundwork for an ambitious new chapter in iGaming evolution, promising partners unparalleled opportunities for growth and success.
Global Reach
BetConstruct has significantly expanded its global market presence throughout 2024. The company’s active participation in major industry events across Asia, Africa, LatAm, and Europe has further strengthened its international position as an industry leader. 2024 also saw BetConstruct acquire the Tobique Gaming Licence, establishing a strategic foothold as a compliant entity in the industry.
Ortak x B.F.T.H. Arena Awards
In addition to maintaining its position as an active exhibitor in prestigious industry events, BetConstruct hosted the two landmark Ortak x B.F.T.H. Arena Awards events in 2024. The second edition in Yerevan, Armenia set new industry standards, followed by an unprecedented third edition in Ras Al Khaimah, UAE – a first of its kind.
During Ortak x B.F.T.H. Arena Awards 3.0, BetConstruct Co-Founder and visionary Vigen Badalyan presented key updates on BetConstruct’s collaboration with the Ortak marketplace, including the brand new Ortak SnowBall feature. The event also turned heads with the recently launched PopOK Property blockchain raffle that included a grand prize of a luxury apartment in Ras Al Khaimah.
Expansive Offerings
BetConstruct has been consistently upgrading its products year after year, and this year was no exception, continuing the company’s commitment to innovation and improvement. BetConstruct’s comprehensive Casino Suite and Sportsbook have retained their household status, as have the myriad of products and services offered by the company.
In 2024, the team behind BetConstruct introduced The Last Battle, a next-level loyalty program that enhances player retention and boosts engagement to new heights. Making its debut at SBC Summit Lisbon, The Last Battle has met rave reviews and is being perfected to include even more features. Also highlighted this past year as the Spring BME business management environment that is set to revolutionise how partners launch and operate their iGaming businesses.
Future Vision
After the successful “It’s Your Dream” campaign, BetConstruct introduced the Center of Gravity concept at the Ortak x B.F.T.H. Arena Awards 3.0, presenting a new direction for the iGaming industry. The company’s strategic focus on product development, market expansion, and regulatory compliance has established a robust foundation for 2025.
Join BetConstruct at ICE Barcelona 2025
BetConstruct invites industry professionals to explore partnership opportunities at ICE Barcelona, January 20-22 2025. Visit Stand 4A20 at Fira Barcelona Gran Via to witness the full implementation of the Center of Gravity concept and discover the company’s latest innovations – all presented at the largest stand ever in the company’s 20-year-long history.
SJM Resorts, S.A. (SJM), in collaboration with the celebrated Hong Kong Ballet, has announced the invitation of talented male and female dancers with strong ballet or contemporary dance skills to audition for The Adventures of ALICE ＠ Grand Lisboa Palace Resort Macau, a new 2025 residency show.
This reimagined classic story will come to life through captivating performances, imaginative costumes, up close interaction with the audience, under the guidance of artistic professionals. Successful candidates will be engaged on short-term performance contracts and play integral roles in a production designed to enchant audiences of all ages.
A Platform for Artistic Excellence and Collaboration
Septime Webre, Hong Kong Ballet, Artistic Director
Joining the The Adventures of ALICE @ Grand Lisboa Palace Resort Macau residency show offers dancers an extraordinary opportunity to advance their careers while showcasing their talents. This show is inspired by the original spectacular production ALICE (in wonderland) choreographed by Hong Kong Ballet Artistic Director Septime Webre, which delighted young and old audience in Beijing, Hong Kong and the US with rave reviews.
Under the mentorship of Septime Webre, and distinguished ballet masters, participants will refine their skills through professional-level rehearsals and innovative choreography in this residency show. The collaboration also promotes cultural exchange, uniting talent from Macau, Hong Kong, and beyond in a vibrant, multicultural setting.
A Spectacular Show Brings a Fantastical World to Life
The exciting The Adventures of ALICE @ Grand Lisboa Palace Resort Macau residency show choreographed by Septime Webre will be performed on selected days throughout 2025 at the Grand Lisboa Palace Resort Macau. Rehearsals will start as early as March, leading up to its official debut in April. This immersive experience features a lively parade, whimsical performances, and interactive workshops.
The production will take place on a state-of-the-art 360-degree stage at the Atrium on Level 1 of Grand Lisboa Palace Resort Macau, complete with advanced lighting, sound, and projection technology, purpose-built for the show. Performances will run on weekends and public holidays, inviting audiences to dive into a magical world expressed through dance.
Audition Details:
Date: 11 January 2025
Time: 1:00 p.m. – 4:00 p.m.
Venue: Rehearsal Studio, Macao Conservatory School of Dance
Date: 12 January 2025
Time: 1:00 p.m. – 4:00 p.m.
Venue: Studio 6 of The Hong Kong Academy for Performing Arts
Eligibility:
Male and female dancers aged 18 or above.
Strong classical and contemporary training or experience required.
Application Requirements:
A video showcasing performances in classical and contemporary ballet. A personal résumé in English or Chinese.
Photos: one headshot and additional dance shots.
Registration on the SJM Job Career website.
To apply, please email your materials before 9 January 2025 to [email protected]. For inquiries, contact us at (853) 6882 7060.
The Cagayan Economic Zone Authority (CEZA) has been reminded that it, alongside other special economic zones, are not exempt from the Philippine Offshore Gaming Operators (POGOs) ban.
According to Department of the Interior and Local Government (DILG) Secretary, Juanito Victor Remulla, Executive Order 74 makes it “very clear that […] CEZA, PEZA (Philippine Economic Zone Authority) zones are not exempted. We have no boundaries. There are no walls (too) high for us to climb. All these areas, we can inspect”.
This comes after reports emerged early on Friday that CEZA had expressed that it should not be covered by the POGO ban. The articles published on multiple Philippine news outlets were later taken down or altered.
The latest statements, as that cited by GMA News, indicated that CEZA’s CEO Katrina Ponce Enrile affirmed that the authority was abiding by the ban.
“We have no POGO operation inside the zone. We do not sanction such activities. We do not coddle any illegal operations that have any semblance of POGO operations inside our zone,” Enrile told the publication.
Executive Order 74, issued by the Philippine president in November, bans both POGOs and Internet Gaming Licensees (IGLs) – the new definition given to offshore gaming operations.
All POGO operations were ordered to cease by January 1st of 2025, with authorities adopting a strict approach towards the post-shutdown cleanup.
The DILG has indicated that it will enforce a “zero tolerance” policy towards government officials regarding the closure of POGOs.
“The government’s anti-POGO campaign is an ongoing thing, (it’s) forever. We will continue to be vigilant about it,” indicated the DILG Secretary.
