Galaxy Entertainment Group (GEG) announced that its Chairman and Executive Director, Lui Che Woo, passed away at the age of 95.
His most recent public appearance was at this year’s National Day flag-raising ceremony and reception in Hong Kong.
In a filing to the Hong Kong Stock Exchange on Monday night, Galaxy Entertainment commemorated Lui as the group’s founder and his invaluable contributions to its development.
‘His vision, tremendous leadership, and guidance were the foundations for the Group’s growth and continued success. Under Dr. Lui’s stewardship, GEG became the first gaming company to be listed on the Stock Exchange of Hong Kong in 2005 and was selected as a constituent of the Hang Seng Index in 2013.’
The announcement also stated that GEG will continue to operate according to the business strategies set by the Board.
The Board believes that Lui’s passing ‘will not have any impact on the operations of the Group.’
‘A new Chairman of GEG will be appointed in due course, and an announcement will be made regarding that appointment.’
The Board expressed its deepest sorrow at Lui’s passing and extended its condolences to his family.
According to Forbes’ Billionaires list, published earlier this year, Lui Che Woo ranked 153rd, with a net worth of $12.1 billion.
Early life
Lui Che Woo was born in 1929 in Jiangmen, Guangdong. He moved to Hong Kong at the age of four. At 13, he was forced to drop out of school due to regional conflicts.
Later, Lui switched to selling car parts. Later, he began importing second-hand heavy machinery to Hong Kong for construction projects, such as road building and quarrying, successfully earning his first fortune.
In the 1950s, he founded K. Wah Group and officially entered the building materials business, gaining the nickname “King of Quarrying.” In the 1970s, he expanded into the tourism and hotel industries.
In the new millennium, Lui’s Galaxy Entertainment obtained a gaming license in Macau, becoming one of the major casino concessionaires and starting his journey as one of Macau’s most influential casino moguls.
Which technologies will redefine the future of iGaming? What business models will drive company growth? SOFTSWISS, a prominent tech company with over 15 years of experience in iGaming, unveils its eagerly awaited iGaming Trends 2025 Report.
The new edition scrutiny describes over 15 major trends classified into specific groups: technology, regulation, marketing and business development.
Technology: Convergence of AI and Cybersecurity
Artificial Intelligence and Cybersecurity remain among the top technology trends in 2025. According to the SOFTSWISS survey, iGaming stakeholders rate the importance of AI and Machine Learning as 8.2 out of 10. In 2025, AI will remain crucial for personalisation, problem gambling detection and even decision-making automation.
According to the Splunk survey, 36% of cybersecurity professionals rank AI-powered attacks as a top threat. The fear of AI often arises from its unexplored possibility, but addressing today’s prevalent risks is just as important as preparing for future AI-driven threats. The solution can be investments in AI-powered threat detection systems that analyze large volumes of data in real-time, detect anomalies, and prevent potential fraud.
Regulatory Landscape
The global regulatory framework is marked by growing fragmentation, with each region introducing increasingly specific compliance requirements that span various aspects of business development, from taxation to player protection. In 2025, a company’s ability to swiftly adapt to these regional differences will be crucial to its success in the market.
Marketing: Brand Awareness is a Key
In 2025, brand awareness will be essential for long-term growth, driving visibility and player loyalty. The goal is to create a clear association with a trusted name in online entertainment. Strong brand identity, trust, and high engagement will mark effective brand marketing.
The SOFTSWISS survey participants identified the top marketing channels for 2025: influencer partnerships, affiliate marketing, SEO, and paid advertising. Notably, research across the broader digital landscape shows SEO offers the highest ROI among digital marketing activities, exceeding 29%.
Business Development through M&A
Mergers & Acquisitions have been a significant trend in business development for several years and will continue to be in 2025. Through strategic partnerships or acquisitions, operators can enter new markets, acquire new technologies, or expand product portfolios.
SOFTSWISS, for instance, resorts to this method to enter the South African market and extend its portfolio with new products. The region seems to be a very promising market. Its iGaming sector is expected to reach almost 65 million euro by 2028.
Valentina Bagniya, Chief Marketing Officer at SOFTSWISS, sums up: “Understanding the trends shaping the future of iGaming is essential when planning next year’s strategy. As a leading industry expert and trendsetter, SOFTSWISS recognizes these emerging directions and takes responsibility in offering a visionary iGaming Trends 2025 Report for the needs of the whole community”.
Prepared with the support of eight more brands, the SOFTSWISS iGaming Trends 2025 Report draws upon a comprehensive industry survey, extensive media research, data from the largest Game Aggregator in the market, and SOFTSWISS’ expertise, built over 15 years and enriched by annual interviews with over 1,200 brands. Insights were further enriched by collaborations with leading brands, including SBC, SiGMA, SPRIBE, Oddin.gg, Blask, Boomerang Partners, BGaming and CryptoProcessing, offering a well-rounded perspective on iGaming trends.
EvenBet Gaming, a top developer of online gaming software and solutions, is poised to showcase its innovative poker products at SiGMA Europe 2024 in Malta this week.
EvenBet Gaming is a recognized global leader in online poker solutions, powering over 48 million players in 41 countries. At SiGMA Europe, the company will highlight its unique solutions that enable operators to diversify and maximize revenue streams.
This includes the Poker Clubs functionality and In-Store feature, two recent product releases that are already making a significant impact across the industry.
The Poker Clubs feature offers a unique B2B solution, providing an omnichannel poker experience across desktop and mobile platforms, where private clubs and cash games are seamlessly integrated for a personalized, community-driven environment.
The In-Store feature enhances gameplay with exclusive in-game benefits accessible directly from the lobby and table, along with flexible chip packages for play money games and tournaments, boosting both player engagement and operator revenue.
The provider will be located at Stand 1089 throughout the event, where attendees can enter daily prize draws for a chance to win exclusive prizes including Ray-Ban Meta Smart Glasses, Apple AirPods, and an Apple HomePod.
Running between November 11-14, SiGMA Europe 2024 offers industry professionals from around the world a prime opportunity to meet the EvenBet Gaming team, discover the latest product advancements, and learn how EvenBet is paving the way for a dynamic future in online poker.
Dmitry Starostenkov, CEO at EvenBet Gaming, said: “SiGMA Europe presents an ideal platform for us to connect with industry professionals, partners, and potential clients.
“We’re excited to showcase the innovations we’ve developed this year to enhance the poker experience and drive engagement for operators around the world. We invite everyone to experience the future of poker innovation with us at Stand 1089.”
WA.Technology, an award-winning B2B iGaming solutions provider, is raising the bar for personalized betting with the launch of its new Pick’Em Player Props product.
Combining Fantasy and Sports Betting, WA.Technology’s launch gives players the chance to put their sporting knowledge to the test by predicting individual player performances – capturing the growing popularity of player props betting.
Due to be showcased to delegates at Stand 1095 during SiGMA Europe this week, this latest innovation from WA.Technology is perfect for operators looking to drive acquisition, engagement, and retention.
Players will have the option to wager on an extensive number of betting markets across a range of sports, allowing them to follow their favorite players’ performances rather than entire teams.
With two different betting modes, WA.Technology is catering to the differing preferences of players. The “Power Play” mode has been designed to ramp up the excitement as players must guess all predictions correctly; one incorrect guess and it is game over.
On the other hand, the “Flexible” betting mode allows players to be much more strategic in their bet selections, allowing for some incorrect predictions while still offering attractive payouts.
Unlike traditional sportsbooks, Pick’Em Player Props gives players multiple player prop selections to their slip with fixed multipliers, making the experience much easier to understand.
Player-focused markets have undergone a meteoric rise over the last few years, largely driven by changes in broadcasting and social media. Pick’Em Player Props has been designed to capture that growth and deliver more personalized, localized bet selections for operators across markets in Latin America and Africa.
Commenting on the launch, Will Booth, Product Manager – Fantasy at WA.Technology, expressed his excitement about the new launch: “Over the last few years, we have seen a growing demand for more content focused on individual players. In other words, bettors are more in love with the player than the team itself. One great example of this is Lionel Messi; bettors will still wager on him whether he is playing for Barcelona, PSG, or Inter Miami.
“WA.Technology’s Pick’Em Player Props has been designed to specifically capture that growth in demand for player props and provide our operators with the necessary tools to engage with bettors on a more personal level. With a sleek design, multiple playing modes and engaging predictor games, Pick’Em Player Props is taking the betting experience to new heights.”
7777 gaming, an innovative and data-driven B2B iGaming provider has announced its latest partnership with Calimaco, a prominent platform provider known for its extensive reach in the Latin American market.
With this collaboration, 7777 gaming will offer its full portfolio of over 150 engaging and innovative games to Calimaco’s platform and its network of esteemed operators.
Zhana Aleksandrova, Business Development for Spain & Latin America at 7777 gaming, said: “This partnership marks an important goal for 7777 gaming as we expand our presence in Latin America with a trusted partner like Calimaco. We are thrilled to bring our unique game portfolio to a new audience and look forward to a successful collaboration.”
Enrique Borrego, Director of Corporate Partnerships at Calímaco added: “Our mission is to provide the best gaming experience in the Latin American market. By integrating 7777 gaming’s diverse and innovative games, we’re confident that we will enhance our offering and deliver even more value to our operators and their players.”
7777 gaming’s popular and varied titles include Devil’s Deal Soul for Sale, Cash 100, Crazy 100 Bucks, Thracian Treasures, Crazy 20 Bucks, Barbarian, Candy Anyways, Club Mr. Luck, Jinn, Sea of Treasures, and many more. The company’s game portfolio already gained great popularity in the Latin American market and has become a favorite of the players in the region.
A recent study by James Porteous, Head of Research for the International Federation of Horseracing Authorities (IFHA) Council on Anti-Illegal Betting and Related Crime, highlights the far-reaching consequences of the Philippines’ POGO ban, particularly the exportation of the country’s illegal betting crime model to new regions.
‘The very real worry is that organized crime syndicates are exporting their model to new territories and suborning regulators and officials by presenting as ‘legitimate’ enterprises,’ Porteous writes in the research entitled ‘The Ban on Philippines POGOs and the Consequent Global Expansion of Illegal Betting Hubs,’ shared in the IFHA Council’s November 2024 Quarterly Bulletin.
James Porteous, Head of Research for the IFHA Council on Anti-Illegal Betting and Related Crime
This highlights a dangerous and evolving trend: illegal betting operations are not isolated incidents but part of a much larger criminal framework that includes organized crime, human trafficking, cyber fraud, and corruption.
As Porteous notes, “Illegal betting is not, as many people wrongly believe, a victimless crime, but a key pillar supporting a vast range of other transnational criminality.’ The global community must understand the interconnectedness of these illegal activities and the critical need to combat them at an international level.”
The research notes that the Philippines’ decision to shutter its POGO industry has not eliminated the problem—it has merely driven operators to seek out more hospitable environments.
Porteous warns that some of these operators will migrate to jurisdictions where they already have infrastructure or connections. Past industry upheavals, such as in 2016, saw the proliferation of POGO-like illegal betting operations in countries like Laos, Cambodia, and Myanmar. These regions have since become hotspots for cyber-scam compounds and organized crime syndicates, continuing to operate globally with minimal scrutiny.
While ASEAN countries are showing some degree of coordination in combating these operations, particularly under pressure from China, the challenge remains daunting. The situation is exacerbated by endemic corruption, political instability, and weak legal frameworks in many of these countries.
“The massive profits generated by illegal betting and related crime provide ample ammunition to encourage politicians and law enforcement to look the other way, whatever is said in public statements,” Porteous explains. Despite public commitments to combating the issue, the overwhelming profits of illegal betting often enable criminals to bypass legal constraints.
Perhaps the most alarming trend identified in Porteous’ research is the spread of these illegal betting operations outside of Asia. As scrutiny in Asia increases, crime syndicates have begun exporting their models to less familiar regions, where awareness of these activities is still limited. The research outlines a troubling series of global incidents that illustrate the reach of these criminal networks.
In late 2023, a Taiwanese-organized crime syndicate was uncovered in Peru, where over 40 Malaysian nationals were held captive. In April 2024, Zambian authorities arrested 77 suspects, including 22 Chinese nationals, connected to similar syndicates.
More recently, in October 2024, 120 Chinese nationals were arrested in Sri Lanka in connection with POGO-like operations. These cases represent just a small fraction of the global spread, which has also seen the emergence of illegal betting operations in Europe, the Middle East, South America, and Africa.
The Middle East, in particular, has become a key hub for both laundering profits from illegal betting and the operations themselves. Humanity Research Consultancy, an NGO, has identified seven illegal betting and online fraud operations in Dubai. Additionally, key figures linked to Asian illegal betting operations have been found to own ‘legitimate’ businesses in European jurisdictions such as Georgia and Montenegro.
Notably, these countries have also experienced similar illegal betting and trafficking operations, suggesting that the POGO model has successfully taken root far beyond the Philippines.
Need for global cooperation
As illegal betting operations continue to evolve and expand, there is an urgent need for greater international cooperation to combat the spread of organized crime, the expert notes. While the Philippines’ POGO ban may have disrupted operations in Southeast Asia, it has also shown how these syndicates are capable of quickly adapting and shifting their operations to other regions.
Addressing this issue will require not only stronger enforcement mechanisms but also enhanced coordination among global stakeholders, particularly in regions like Europe, the Middle East, and Africa, where the impacts of illegal betting may be less visible.
Macau’s integrated resort developer and gaming operator, Sands China, is leading a delegation of 17 DSEDT-certified Macau enterprises on a trip to Lisbon to participate in the company’s five-day Macau Technological Innovation Exploration from November 11th to 15th.
With this initiative, Sands China is the first integrated resort operator in Macau to organize such a tour to Lisbon. It is co-organized by the Macau Economic and Technological Development Bureau (DSEDT), supported by the Macau Science and Technology Development Fund (FDCT), and coordinated by the Sands Resorts Incubation Centre, a company initiative that is dedicated to discovering and supporting local innovative enterprises with development potential.
Grant Chum, CEO, Sands China
“This exploratory visit to Lisbon is in line with the Macau government’s initiative to spearhead technology-driven smart tourism and foster the growth of high and new technology, serving to expand Macau’s role as a Sino-Portuguese platform,” said Grant Chum, chief executive officer and executive director of Sands China Ltd.
“As these DSEDT-certified enterprises learn about the latest global trends in the technology industry and build their networks during this trip, Sands China believes the insights gained can help Macau build a technological exchange platform that empowers industrial development. It is also the company’s wish that this trip accelerates the development of Macau’s certified enterprises under the Technology Enterprise Certification Program, helping them go global and further contribute to the emerging technologies in Macau and the Greater Bay Area.”
The Venetian Macao, Sands China
Activities arranged for the participating enterprises include attending the Web Summit, an annual technology conference held in Lisbon that brings together the world’s leading experts, innovators, business executives, and cultural icons – with an expected attendance of 70,000 participants from 150 countries, including 2,600 start-ups, 900 investors, and 800 speakers.
A networking dinner will provide the Macau delegation with a free-flow experience to foster connections with invited guests from Lisbon’s tourism bodies, the technology industry, and other stakeholders in the innovation sector.
The trip will conclude with two days of exclusive visits to some of the most innovative companies in the city, offering learning, partnership opportunities, and meaningful exchanges – helping delegates explore Lisbon’s innovative spirit and strengthening the bond between Macau and the global tech ecosystem.
Initiatives like the Macau Technological Innovation Exploration in Lisbon are part of Sands China’s support of the Macau SAR government’s promotion of the long-term and sustainable development of smart tourism and high-tech industries. Through such initiatives, Sands China hopes to further integrate tourism and modern technology by supporting the research and development of new high-tech local products, in contribution to Macau’s development as a world center of tourism and leisure.
Good morning. The hammer goes down. The Philippines has officially banned Offshore Gaming Operators (POGOs) with an Executive Order issued by the Presidential palace ordering for operations to be wound down by December 31st. Senator Risa Hontiveros has already warned that the order might hold significant loopholes as it did not explicitly include establishments outside the oversight of the Philippine Amusement and Gaming Corporation (PAGCOR). Meanwhile, Maybank has attributed Genting Singapore’s disappointing third-quarter results to lower VIP gaming and higher bad debt.
The Philippines has officially banned Offshore Gaming Operators (POGOs) through an Executive Order mandating that all operations be wound down by December 31st. The ban encompasses licensed POGO entities, gaming agents, and service providers, effectively classifying unlicensed operations as illegal. Additionally, the order halts all license applications and renewals related to offshore gaming, while also focusing on supporting displaced workers and mitigating the negative impact on foreign investment and tourism due to the perceived risks associated with POGO operations.
Asia is the most populated continent on the planet and Football is the No. 1 sport in most countries. The World Cup qualifying matches are traditionally watched by billions of fans in the region, but FIFA has decided to reward Asia with a significant representation at the tournament only now.
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.
Genting Singapore’s third-quarter earnings ‘fell short of expectations’ due to lower VIP gaming volumes and higher bad debts linked to Chinese players, Maybank research pointed out.
This brought the total core net profit for the first nine months of the year to SG$450 million ($338.9 million), an 11 percent decrease compared to the previous year, representing 63 percent of the company’s full-year estimate.
The shortfall in earnings was primarily attributed by Maybank researchers to a VIP gaming volume of SG$26 billion (19.5 billion), which, despite an 8 percent year-on-year increase, only reached 66 percent of the company’s annual target.
Additionally, higher-than-expected bad debts were said to have contributed to the -‘disappointing results’, as Chinese accounts for the majority of VIP gambling debts are not enforceable in China.
The VIP and mass market segments both showed signs of weakness, with Genting cautioning that VIP volumes could continue to decline amid economic uncertainties in China.
In the third quarter VIP volume decreased by 2 percent quarter-on-quarter to SG$7.7 billion ($5.8 billion), but with Maybank analysts noting that the VIP segment typically yields lower EBITDA margins of around 20 percent.
Conversely, the mass market gross gaming revenue, which has a higher EBITDA margin of approximately 60 percent, fell by 6 percent quarter-on-quarter, despite an increase in visitor arrivals.
‘This decline was partly due to the closure of the Hard Rock Hotel, which will reopen in the first quarter of 2025′, Maybank argued.
In light of these developments, Maybank analysts have revised their core net profit estimates downward by 16-17 percent for FY24, FY25, and FY26.
They anticipate a stabilization in Q4 2024, with normalized EBITDA expected to remain flat quarter-on-quarter at around SG$225 million ($169.5 million), as seasonal lower visitor numbers may be offset by reduced bad debts due to stricter credit policies.
Non-gaming visitor spending in Macau has seen a notable year-on-year decline, with per-capita spending dropping by 17 percent from January to September 2024.
According to data published by the SAR authorities, total visitor spending (excluding gaming expenses) increased by 8 percent year-on-year, reaching MOP56.21 billion ($7.04 billion) in the first three quarters of 2024. However, this overall rise masks a significant decrease in individual spending, which fell to MOP2,168 ($272) per visitor, reflecting a 17 percent year-on-year decline.
In the third quarter alone, total visitor spending amounted to MOP18.42 billion ($2.31 billion), with per-capita expenditure decreasing by 15.4 percent to MOP2,002 ($251) compared to the same period last year.
A breakdown from the Statistics and Census Service (DSEC) reveals that 45.6 percent of non-gaming spending went to shopping, 25.5 percent was spent on accommodation, and 20.8 percent was allocated to food and beverage during the first three quarters.
This shift in spending patterns comes amid a slowdown in China’s economy, which has directly impacted Macau’s tourism sector. The trend of more conservative consumption has been observed for some time.
The overall increase in total spending is primarily due to a significant rise in visitor arrivals during the period. In the first three quarters of 2024, Macau welcomed 25,920,914 visitors, marking a 30.1 percent year-on-year increase. Despite this surge, the average length of stay decreased slightly by 0.1 day, settling at 1.2 days. Notably, the number of inbound package tour visitors saw a remarkable rise of 101.2 percent, totaling 1,497,036.
Third-quarter statistics show that visitor arrivals reached 9,200,931, an 11.1 percent increase compared to the same period last year. This period also saw a slight reduction in the average length of stay, which remained at 1.2 days. Package tour visitors numbered 511,388, reflecting a 34.5 percent growth.
Meanwhile, as of the end of the third quarter of 2024, Macau’s accommodation sector comprised 144 hotel establishments, offering a total of 44,163 guest rooms. The average occupancy rate for these rooms increased significantly by 4.8 percentage points year-on-year, reaching 85.4 percent, with the number of guests rising by 11.2 percent to approximately 10,889,356.
In the third quarter specifically, hotel occupancy climbed to an average rate of 88.5 percent, although the number of guests experienced a slight decline of 3.7 percent, totaling around 3,610,632.
