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Singapore Police now in charge of blocking illegal gambling websites

Kelsey Wilhelm
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Singapore Police now in charge of blocking illegal gambling websites

The Singapore Police Force is now in charge of blocking illegal gambling websites, according to the Gambling Regulatory Authority (GRA).

The change was announced via a Facebook post by the GRA, which thanked the public for its contributions in reducing harm caused by illegal gambling sites.

The post notes that ‘From 1 January 2025, the Singapore Police Force will take over the blocking of such websites’.

This was furthered with information indicating that since 2015, over 3,800 illegal gambling websites have been blocked and over 145,000 payment transactions were stopped – totaling SG$37 million ($27.1 million).

The post urges citizens and visitors to report unlawful gambling activities directly to the police, via their whistleblower website.

Late last year, Singapore passed changes to its Casino Control Act, granting further oversight rights to the GRA in a bid to future-proof the industry. It also lowered the threshold for due diligence checks on casino deposits earlier in the year.

GRA, Gambling Regulatory Auhtority, Singapore

The city-state has also been making legislative improvements to its anti-money laundering and counter-terrorism financing (AML/CTF) frameworks, measures passed in the wake of a massive multi-billion-dollar money laundering case that allegedly had links to gaming operations within Southeast Asia.

It is illegal under Singapore law for any person to provide unlicensed gambling services in or from Singapore, or from outside Singapore to persons situated in Singapore.

Singapore Pools is the only gambling service provider licensed to offer legal online gambling services in the country.

QTech Games secures top-tier content with the addition of Clawbuster

AGBrief Editorial
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QTech Games secures top-tier content with the addition of Clawbuster

QTech Games, a top game distributor in emerging markets, has maintained its strong momentum in the premium pipeline with a new deal from the rising star supplier, Clawbuster.

Integrating content from one of the most innovative and creative online slots providers adds yet more creative muscle to QTech Games’ burgeoning platform, which is taking the widest range of online games to emerging territories with established names, such as Evolution and Yggdrasil, sitting alongside the industry’s most exciting up-and-coming providers.

The games made available to its partners via the deal are comprised of popular hits and recent releases, including Sweet Dream Bonanza, Candy Claw, Book of Claws and Midas Golden Plinko, each of which ride on the back of unique maths modelling that varies the volatility spectrum, helping to foster some truly engaging gameplay.

Clawbuster’s gaming suite has been optimised for mobile, a cornerstone of QTech’s RNG model, which is founded on its fully-owned and customised technical platform, affording games providers and operators the fastest integration available. Through this leading platform, which has sealed its definitive status as a global gaming one-stop shop, clients enjoy the best performance and customer support available, localised to every region across both developing and more mature markets.

The deal organically broadens Clawbuster’s international footprint, unlocking untapped jurisdictions from Asia to Africa and Eastern Europe to Latin America for diversified growth.

Philip Doftvik, QTech Games’ CEO, said: “We’re committed to rolling out first-class content that drives revenue for our partners. Therefore, this deal with Clawbuster extends our impressive sequential pipeline for 2024 into 2025 – and we’ve so much more to come!

“Clawbuster offers a welcome breath of fresh air in the slots sector, adding a modern twist to familiar favourites to enhance yet never alienate the player experience. Their signature claw-machine mechanics boost player engagement and loyalty for some unrivalled entertainment. 

“In today’s icasino space, only premium games of the highest standard cut through the hubbub of a crowded marketplace. So, we’re delighted to see how Clawbuster is capturing this demand. They routinely create world-class content, and are always looking to redefine and reinvent classic slot games to bring users a reinvigorating gaming experience with every play.”

Clawbuster

Tim Lipsky, CEO of Clawbuster, added: “We’re reimagining the slots space with more immersive gaming experiences. And teaming up with QTech represents a fantastic opportunity to strengthen our product distribution across emerging territories and deliver our great games to a range of top-tier partners.

“At Clawbuster, we’ve created a powerful portfolio of data-driven games by deploying artificial intelligence to better identify game features and success factors. We use advanced analytics to predict, analyze and optimize our products in games to increase the ROI in online casinos, utilizing deep profiling to identify key trends and determine optimal RTP / volatility parameters for success, alongside player-preference analysis. This philosophy matches up with QTech’s own ML-driven game lobby, QT Play, perhaps the most sophisticated and accurate game-recommendation engine we’ve witnessed.

“Thanks to its unique auto-curation algorithms, which cut through the white noise of competing releases and match the right game to the right audience, we can’t wait to see how our games connect with a host of new players across emerging markets.”

Evoplay ignites the reels with Pyro Joker’s fiery excitement

AGBrief Editorial
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Evoplay ignites the reels with Pyro Joker’s fiery excitement

Evoplay, the acclaimed game development studio, has unveiled Pyro Joker, a slot game crafted to boost player engagement and deliver impressive results for operators.

At the heart of the gameplay is the Joker, acting as the wild, which substitutes for other symbols to complete winning combinations. When the wild lands on reels 2, 3, or 4, it expands to cover the reel and activates the Wild Respin feature.

During this mode, expanded wilds remain sticky while respins are triggered. If additional wilds land, they also expand and trigger further respins, with up to three available, offering significant win potential.

Pyro Joker balances intuitive gameplay with engaging features, making it a valuable addition to any operator’s portfolio.

Ivan Kravchuk, CEO at Evoplay, said: “Pyro Joker showcases our ability to combine classic slot elements with exciting features that captivate players. Wild Respin adds an extra layer of excitement, ensuring the game keeps players engaged while offering strong results for operators. We’re thrilled to add Pyro Joker to our portfolio and look forward to seeing it perform across a variety of markets.”

Appeal launched over $1.6 billion Baha Mar legal judgement, claiming errors and mismanagement

Kelsey Wilhelm
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Appeal launched over $1.6 billion Baha Mar legal judgement, claiming errors and mismanagement

CCA Construction and the two other firms involved in the $1.6 billion judgement awarded to the Baha Mar resort and casino developer in the Bahamas have filed an opening brief for an appeal on the decision, claiming the court’s ruling was fundamentally flawed.

According to reports, the appeal claims that the court ignored key evidence demonstrating that the failure of the resort was due to mismanagement by BML Properties, rather than the defendants.

The appeal claims that BML engaged in overspending and bad decision-making, leading to its bankruptcy.

A spokesperson for the defendants noted that: “The fact that CCA Bahamas completed 97 percent of the project by the agreed deadline evidenced its good faith. The judgment suffers from numerous, significant legal errors and should be reversed in its entirety, as we believe it will be”.

Sarkis Izmirlian
Sarkis Izmirlian

The defendants claim that even if the resort had been 100 percent completed, that BML would not have been able to open the resort on time, claiming BML had admitted to “bombing” its own deliverables and that even if the resort had opened on time it would have operated at a loss for years.

The original developer of the Baha Mar casino was awarded the $1.6 billion after a US judge found that a contractor had committed “fraud beyond any doubt”.

Businessman Sarkis Izmirlian issued the suit against the CCA in 2017, claiming “massive fraud” which led to the collapse of the project in 2015.

The project was later sold to Hong Kong-based conglomerate Chow Tai Fook, a major investor in The Star Entertainment Group.

DigiPlus secures gaming license in Brazil

Viviana Chan
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DigiPlus secures gaming license in Brazil

DigiPlus Interactive Corp., based in the Philippines, has been granted a federal gaming license in Brazil, allowing it to operate land-based and online sports betting, electronic games, live game studios, and other fixed-odds betting activities.

The announcement was made on Thursday through a filing with the Philippines Stock Exchange.

On November 21st, 2024, DigiPlus Brazil Interactive Ltda. successfully passed the qualification stage for the license with Brazil’s Ministry of Finance’s Secretariat of Awards and Bets (SPA). The company has been given 30 days to fulfill post-qualification regulatory requirements, including license fee payments.

The SPA has released the final list of authorized operators, enabling DigiPlus to offer online sports betting and iGaming services in Brazil starting from January 1st, 2025.

On the same day, the company’s Board of Directors approved an initial funding of PHP660 million ($11.4 million) to cover license fees, minimum capitalization, financial reserves, and other operational expenses related to the post-qualification process. This funding is intended to support operations for the next three months.

Digiplus

81 operators approved 

Including DigiPlus, the official list published in the Official Gazette of the Union (DOU) details 81 licenses issued, 15 of which are permanent and 66 are provisional.

These companies have passed significant financial and regulatory requirements, including a mandatory payment of R$30 million ($4.7 million) to the federal government and the creation of an emergency fund of R$5 million ($789,862).

Among those granted permanent licenses are SuperBet, MGM, and SportyBet. In contrast, companies such as bet365, Betsson, Betano, Caesars, and SportingBet received provisional licenses.

This licensing process is part of the Brazilian government’s broader effort to regulate the rapidly growing online betting market. Companies authorized to operate in Brazil must meet strict requirements set by the Secretariat of Prizes and Bets. These rules, approved by Congress, address various issues, including taxation, advertising ethics, and player protection.

One key regulation is a 12.5 percent tax on gross monthly revenue, which licensed operators must remit to the government.

Paradise Co. reports 10.2% y-on-y rise in casino results in 2024

Nelson Moura
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Paradise Co. reports 10.2% y-on-y rise in casino results in 2024

South Korean foreigner-only casino operator Paradise Co. has reported a slight decline in casino revenues in December compared to the previous month, but ended 2024 with a 10.2 percent yearly rise in total results.

According to its most recent consolidated financial statements, the casino generated KRW70.7 billion ($48.2 million) in revenue for December, reflecting a decrease of 1.4 percent from November’s revenue of KRW71.7 billion ($48.8 million).

However, this figure represents an 11.7 percent increase compared to December 2023, when revenues were KRW63.3 billion ($43.2 million).

Analyzing the revenue breakdown, table games contributed KRW67 billion ($45.7 million), down 0.5 percent from the prior month but up 13.8 percent year-on-year. In contrast, revenue from machine gaming fell significantly, totaling KRW3.7 billion ($2.5 million), a decrease of 16 percent from November and a decline of 16.1 percent year-on-year.

For the cumulative performance of 2024, Paradise Co. reported total casino revenues of KRW818.7 billion ($558.5 million), marking a 10.2 percent increase from KRW742.9 billion ($506.7 million) in 2023.

Table game revenues for the year reached KRW766.7 billion ($523.2 million), also up 10.2 percent from the previous year, while machine gaming revenue increased by 9.7 percent to KRW52 billion ($35.5 million).

Paradise Walkerhill, South Korea, Paradise Co.
Walker Hill Casino
Paradise City, South Korea
Incheon Paradise City

Currently, the company is developing a $400 million flagship hotel project, set to begin construction in the first quarter of 2025, with an opening scheduled for 2028. This move is part of a revamped strategy aimed at attracting more international high-rollers to its properties.

Paradise Co.’s $400M flagship hotel expected to start construction in 1Q25

Jeju Dream Tower casino sales jump 93.3% y-on-y in 2024

Nelson Moura
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Jeju Dream Tower casino sales jump 93.3% y-on-y in 2024

Jeju Dream Tower has released its interim business performance figures for December 2024, revealing a notable decline in casino revenues compared to the previous month, but a significant increase compared to the same period last year.

According to the consolidated financial statements, the casino generated KRW23.5 billion ($16.01 million) in revenue for December, a decrease of 9.5 percent from November’s revenue of KRW26 billion ($17.74 million).

However, this figure reflects a significant 64.6 percent increase compared to December 2023, when revenues were KRW14.3 billion ($9.75 million).

The data comes from a filing by Lotte Tour Development, the operator of Jeju Dream Tower, with the Korea Stock Exchange.

Breaking down the casino revenue further, table games accounted for KRW22.1 billion ($15.08 million) in revenue, down 10.9 percent from the previous month but up 66.3 percent year-on-year.

In contrast, machine gaming revenue rose by 18.5 percent from the previous month to KRW1.4 billion ($954,000), showing a 41.9 percent increase compared to the same month last year.

Hotel revenues also saw a decline, totaling KRW5.4 billion ($3.68 million) in December, down 2.7 percent from November and down 22.3 percent year-on-year from KRW6.9 billion ($4.71 million).

For the cumulative performance of 2024, the casino reported total revenues of KRW294.6 billion ($200.83 million), marking a substantial 93.3 percent increase from the KRW152.4 billion ($103.12 million) recorded in 2023.

Table game revenue for the year reached KRW276.4 billion ($188.41 million), up 100.2 percent from the previous year, while machine gaming revenue increased by 27.1 percent to KRW18.1 billion ($12.34 million).

Conversely, hotel revenues for the year totaled KRW84.5 billion ($57.67 million), a 7.8 percent decrease from KRW91.7 billion ($62.43 million) in 2023.

Gaming companies with Malaysia presence should see better performance in 2024: Media

Nelson Moura
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Gaming companies with Malaysia presence should see better performance in 2024: Media

Malaysian Gaming companies have underperformed compared to the FBM KLCI stock market index in 2024. Still, UOB Kay Hian (UOBKH) Research anticipates a gradual recovery in share prices during the first half of the financial year 2025.

The FTSE Bursa Malaysia KLCI, also known as the FBM KLCI, is a major stock market index which tracks the performance of the 30 largest companies by full market capitalization.

According to a report by The Star, UOBKH Research believes that the sector’s earnings growth, attractive valuations, and strong dividend yields create a promising investment opportunity.

The firm expects sequentially stronger earnings from the fourth quarter into 1H25, driven by an influx of international tourists and robust domestic consumption.

The research indicates a continued growth trend in consumer spending, which rose by 4.9 percent year-on-year in the third quarter of 2024. Moreover, business volumes for the casino and number forecast operator (NFO) segments remained solid in October and November 2024.

UOBKH also forecasts improved results for both Genting Bhd and Genting Malaysia in 4Q24, with Resorts World Genting’s gross gaming revenue (GGR) expected to return to approximately 100 percent of 2019 levels, up from 90 percent in the third quarter.

Genting Malaysia is also positioned to potentially secure a full casino license in downstate New York, which could significantly boost earnings.

Gaming suppliers holding $16.4 billion in debt – CBRE

Nelson Moura
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0
Gaming suppliers holding $16.4 billion in debt – CBRE

Data published in a recent CBRE research report show that major gaming suppliers are currently holding $16.4 billion in debt, with Aristocrat and IGT appearing to be in a more favorable financial position.

In a recent analysis of the debt comparables across several gaming companies, CBRE detailed the credit ratings, debt amounts, spreads over benchmarks, maturity dates, interest rates, and market prices of eight major gaming suppliers.

The analysis detailed the debt amounts and types for each company, revealing significant variation, with Aristocrat carrying a total debt of $500 million in a secured term loan, while Entain has a more substantial $1.2 billion across two secured term loans.

Aristocrat Leisure, Gaming suppliers
Entain, Gaming suppliers

Everi’s total debt stood at $981 million, divided between secured and unsecured notes, while Evoke’s debt is notably higher at $2 billion, primarily in various secured notes.

At the same time, IGT is responsible for $1.3 billion in multiple secured notes, while Light & Wonder has a total debt of $3.8 billion, encompassing both secured and unsecured notes.

Everi
IGT
Light & Wonder

Scientific Games reports $2 billion in debt, including a secured term loan and unsecured notes, and Stars Group leads with $3.8 billion, also in a secured term loan.

In terms of credit ratings, CBRE research points out that Aristocrat Technologies Inc. holds a credit rating of BBB- from Standard & Poor’s, Ba1 from Moody’s, and BBB from Fitch, positioning it as one of the stronger players in the sector.

Meanwhile, Entain Holdings Gibraltar Ltd has a slightly lower rating of BB-, Ba1, and BB, indicating moderate risk. Everi Holdings Inc. is rated B+, Ba2, and BB-, while Evoke PLC sits lower at B-, B1, and B+.

International Game Technology PLC (IGT) boasts a BB+, Ba1, and BB+ rating, suggesting solid financial stability, while Light & Wonder International Inc. has a BB-, Ba1, and BB rating; Scientific Games Holdings LP is rated B-, B3, and B.

The Stars Group Holdings BV, a subsidiary of Flutter, holds a BB+, Ba1, and BBB rating, reflecting a robust standing in the industry.

Daily Asia Gaming eBrief: Macau poised for strong growth in 2025

AGBrief Editorial
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Daily Asia Gaming eBrief: Macau poised for strong growth in 2025
Good morning. Out with the old and in with the new. While 2024 was a healthy recovery year for gaming worldwide, 2025 could hold even more surprises and growth opportunities. For Macau, this is likely to kick start with a bold January and February period, with the Chinese New Year holiday contributing strongly to GGR. Some $5 billion in gaming revenue is expected from the period, a 6 percent yearly rise, suggests Citigroup. Meanwhile, in South Korea, Mohegan’s INSPIRE saw a healthy fourth fiscal quarter, bringing in some $163 million in net revenue, one of the company’s strongest growth segments.

What you need to know

On the radar

AGB Intelligence

Macau, Cotai strip

Macau gaming sector poised for strong 2025: Citigroup

Macau saw a healthy 2024, with significant growth in gaming revenues, even as the city aims to reshape itself into a more non-gaming oriented destination. But gaming will continue to be the city’s lifeblood, with analysts at Citigroup predicting 2025 should continue to see steady growth for the sector. Estimates are for January and February to see revenue increase by some 6 percent yearly, boosted by the Chinese New Year period.

Industry Updates

Corporate Spotlight

From Underdogs to Elites: The MongolZ’s Ascent to World’s Top 3

The MongolZ Climbing the ranks to become a Top 3 Esports Team

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 brings premium sportsbook solution to Asia

Altenar brings premium sportsbook solution to Asia

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.

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