7777 gaming, an innovative and data-driven B2B iGaming provider, has announced a new partnership with Agreegain, a new casino solution provider backed by the extensive expertise of Altenar.
The full portfolio of 7777 gaming’s innovative casino games is now accessible to Agreegain’s network of partners across Europe, Africa, Latin America, and Asia. Agreegain is renowned for its focus on innovation, seamless integration, and client satisfaction.
Elena Shaterova, CCO at 7777 gaming, stated: “We are on a very strong track record of new partnerships consolidating our brand exposure, trust, and high demand from players for our unique casino games portfolio. For 7777 gaming, partnering with innovative companies like Agreegain is what we seek, commit to, and deliver—highest quality content and customer service.”
Maria Afzaal, Senior Partner Manager at Agreegain said: “Agreegain is committed to delivering unparalleled aggregation solutions by leveraging advanced technology, expanding our content portfolio, and fostering lasting partnerships to empower our clients’ growth and success, which perfectly aligns with the latest partnership with 7777 gaming.”
7777 gaming is preparing for the upcoming iGaming shows to meet all interested to learn more about the company’s products and solutions, designed to amaze online casino players around the globe.
Good morning. All in for Wynn Resorts. In the group’s 3Q24 results, the company managed to significantly reduce its losses, despite relatively flat revenue from its Cotai Strip property in Macau. The peninsula fared slightly better, while US operations also were relatively lackluster. But the UAE shines bright, and the company aims to keep shareholders happy during the buildout to 2027. Meanwhile, Macau is heading to the races, but the Grand Prix is likely to limit punters’ enthusiasm, causing November GGR to fall – in line with expectations.
Wynn Resorts has been working hard to balance its books, demonstrated by a significant reduction in its loss for the third quarter. Despite spinning many plates – Macau, Las Vegas, Boston, the UAE – the company managed to increase its casino revenue during the period, while slightly reducing costs. Macau operations continued stable, with Cotai a bit flat, while US operations failed to impress on a yearly basis. Amongst its UAE push, scheduled for 2027, it aims to keep shareholders happy.
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.
As the Philippine Congress resumed session on Monday, leaders in the House of Representatives have made ratifying the proposed PHP6.352 trillion ($111.4 billion) national budget for 2025 their top priority.
House Majority Leader Manuel Jose Dalipe, representing Zamboanga’s 2nd District, expressed optimism on Sunday, stating that they hope the Senate will approve the budget proposal soon. Once passed, a bicameral conference committee – comprising members from both chambers – will work to finalize a unified version. “We hope to ratify the bicam report before our December 20th Christmas break,” Dalipe noted, underscoring the goal to complete the budget process before the year-end holidays.
Beyond the national budget, the House intends to continue its oversight functions, particularly through the quad committee, or “quadcom,” which investigates interconnected issues affecting the Philippines, including Philippine Offshore Gaming Operators (POGOs), illegal drug trafficking, money laundering, and extrajudicial killings.
“We remain steadfast in protecting our people from abuses and exposing acts of wrongdoing in government,” Dalipe said, highlighting the House’s commitment to these investigations.
The Quadcom is scheduled to hold its 10th hearing on November 7th, with expectations that former President Rodrigo Duterte will attend the proceedings. The Committee on Good Government and Public Accountability will also review the confidential funds allocated to the Office of the Vice President, aiming to ensure transparency and proper use of taxpayer money.
The House will also prioritize several key legislative measures on the Legislative-Executive Development Advisory Council (LEDAC) priority list. These include the Budget Modernization Bill, the National Defense Bill, proposed amendments to the Agrarian Reform Law, and adjustments to the Long-Term Lease Law for foreign investors—each essential to advancing economic stability and defense capabilities in the Philippines.
In a separate update, Philippine National Police (PNP) Chief Gen. Rommel Francisco Marbil on Sunday commended the PNP’s Anti-Cybercrime Group (ACG) for a recent successful operation that dismantled a major scam hub in Manila, deemed the “mother of all scam hubs.” Conducted on October 29th, the operation highlighted the ACG’s commitment to disrupting criminal activities linked to online scams, illegal gambling, and human trafficking.
“This operation stands as a testament to the dedication of our PNP-ACG personnel, whose relentless pursuit of justice has exposed and disrupted a significant hub of criminal activity,” Marbil stated.
The raid took place at the 40-story Century Peak Tower on Santa Monica and Adriatico Streets in Ermita, Manila, following validated intelligence reports. During the operation, authorities arrested 69 foreign nationals, underscoring the continued efforts to address criminal syndicates exploiting online platforms for illegal operations.
PNP Chief General Rommel Francisco Marbil reaffirmed the police force’s commitment to dismantle all illegal Philippine Offshore Gaming Operator (POGO) hubs within the final two months of the year.
Commending the PNP Anti-Cybercrime Group (ACG) for its recent operation at Century Peak Tower in Manila—described as the “mother of all scam hubs”—Marbil emphasized the urgency of clearing the nation of illegal POGOs.
“We have two months to go to eliminate these illegal POGO operations,” he stated.
In his State of the Nation Address last July, President Ferdinand Marcos Jr. ordered the total shutdown of the POGO industry by year-end, highlighting its harmful societal impact and links to criminal activities, including human trafficking, investment scams, and romance scams.
Last week, the PNP-ACG raided Vertex Technology Corporation, a suspected hub for love and cryptocurrency scams, arresting 69 foreign nationals – 34 Indonesians, 25 Chinese, and 10 Malaysians – during the operation.
“This operation not only uncovers the extensive reach of illegal POGO activities but also affirms law enforcement’s resolve to dismantle criminal networks, uphold public safety, and maintain the rule of law across cyber enforcement,” said Marbil.
He praised the ACG for its dedication, calling the successful court-sanctioned operation a “testament to the relentless pursuit of justice by our PNP-ACG personnel, who have disrupted a significant criminal network linked to online scams, illegal gambling, and human trafficking.”
Charges will be filed against those involved in the raided operation as forensic analysis of the seized evidence continues, Marbil confirmed. He also noted that the PNP’s efforts to close all POGO operations will be coordinated with other agencies, including the National Bureau of Investigation.
Manila Mayor Honey Lacuna praised the PNP’s commitment to public safety, calling their actions a crucial step in protecting Manila’s communities from illegal activities linked to cybercrime and exploitation, according to a PNP Public Information Office (PIO) statement. Gen. Marbil welcomed the mayor’s full support for the PNP’s continued efforts to eradicate illegal POGO-related activities in the city.
Meanwhile, the Presidential Anti-Organized Crime Commission (PAOCC) conducted a separate raid at a POGO hub in Bagac, Bataan, last Thursday, detaining 57 foreign nationals and 358 Filipinos.
Macau’s gross gaming revenue (GGR) for November is expected to drop 13.5 percent from October, primarily due to seasonality and the impact of the Macau Grand Prix, according to Bank of America.
In the latest investment memo, analysts from Bank of America Securities project that November’s GGR will reach MOP18 billion ($2.25 billion). This represents a month-on-month decline but a year-on-year increase of 12.1 percent.
This figure accounts for approximately 78.6 percent of the GGR recorded in the same month of 2019, highlighting a modest recovery compared to pre-pandemic levels.
The anticipated drop in GGR is largely attributed to seasonal trends, as November’s GGR typically falls more than 10 percent below October’s figures. In fact, in 2023, November experienced a decline of 17.7 percent month-on-month.
Despite these challenges, analysts note that the Macau gaming sector’s GGR has held up better than feared, particularly in light of the ongoing slowdown in consumer spending in China. This resilience contrasts with the more significant valuation corrections observed in other consumer sectors across the region, especially for investors focusing on price-to-earnings ratios rather than earnings before interest, taxes, depreciation, and amortization (EBITDA) valuations.
October also saw Macau record its highest GGR in 57 months, with total revenue growing 7 percent year-on-year and 20 percent month-on-month, reaching MOP20.8 billion ($2.5 billion).
In a separate note from Citigroup, analysts highlight that the 71st Macau Grand Prix is scheduled to return to a four-day format, as opposed to the six-day event held over two weekends in 2023. This change is expected to result in less disruption to casino operations.
Dividend yield becomes important
Bank of America also notes that, given the current situation, the dividend yield is becoming ‘increasingly important’ for investors in this slow-growth sector.
Analysts express a favorable outlook for certain operators, particularly Galaxy Entertainment, which boasts strong balance sheets and steady market share. They also highlight Sands China, which is expected to see a margin recovery in 2025 following the completion of renovations at Londoner II, along with the potential resumption of dividend payments.
Wynn Resorts managed to significantly reduce its loss in the third quarter of the year, shrinking the figure to $32.05 million, compared to $116.67 million in 3Q23, on the back of better casino revenues and reduced expenses.
In results released early on Tuesday, the company indicated that casino revenues neared $1.02 billion during the period, compared with operating expenses of $1.56 billion.
This compares to casino revenue of $972.45 million and operating expenses of $1.61 billion in 3Q23.
The group’s Macau operations brought in some $871.74 million, up 6.33 percent yearly, despite yearly casino revenue from its Cotai Strip property, Wynn Palace, remaining flat at $418.04 million.
Wynn MacauWynn Palace
VIP turnover during the period at Wynn Palace was up by 11.6 percent, totaling $3.19 billion, while mass market table drop fell slightly, by 1.8 percent, to $1.69 billion.
This resulted in reduced property EBITDAR for the Cotai property, at $162.28 million, down by 8.3 percent yearly.
Casino revenues at Wynn Macau saw a better yearly comparison, up by 28.8 percent, to $296.78 million. VIP turnover was flat year-on-year, at $1.2 billion, while mass market table drop rose by 9.5 percent, to $1.51 billion.
Property EBITDAR at Wynn Macau rose by 29 percent, to $100.59 million.
During the quarter, the group saw hotel occupancy at its Wynn Palace property increase to 98.3 percent, while that of its Macau peninsula property rose slightly to 98.9 percent.
US-based operations
The group’s Las Vegas operations saw a contraction in casino revenue, of 13.6 percent, to $145.18 million, as table games drop fell by 14.3 percent yearly to $580.8 million. The slot machine handle rose, however, by 3.5 percent, to $1.69 billion.
Adjusted property EBITDAR fell slightly, to $202.7 million.
The group’s Boston Harbor property performed better, with total casino revenues up by 1.8 percent yearly, to $158.74 million. Table games drop was up by 1 percent, to $347.08 million, while the slot machine handle rose by 3.1 percent to $1.37 billion.
Adjusted property EBITDAR rose slightly to $63 million during the quarter.
Hotel occupancy at the group’s Las Vegas property fell slightly to 89 percent, while that of Encore Boston Harbor rose slightly to 96.9 percent.
“Healthy demand”
Speaking of the results, Wynn Resorts CEO Craig Billings noted “Our third quarter results reflect healthy demand across our resorts highlighted by strong mass gaming win in Macau and solid non-gaming performance in Las Vegas. The investments we have made in our properties, our team and our unique programming continue to extend our leadership position in each of our markets”.
UAE
Hotel arrival at Wynn Al Marjan IslandView from the pool at Wynn Al Marjan IslandWynn Al Marjan Island TowerSource: Wynn Resorts
Looking ahead to the group’s future markets, Billings indicated that “we are also continuing to invest in growing business with construction on Wynn Al Marjan Island rapidly advancing. We are confident the resort will be a ‘must see’ tourism destination in the UAE and expect that it will support strong long-term free cash flow growth”.
During the quarter, the group contributed some $18.2 million in cash to the joint venture in which it holds 40 percent. That brings the total cash contributions to the project so far to $532.6 million.
The group indicated that ‘Wynn Al Marjan Island is currently expected to open in 2027,’ in line with expectations.
Equity repurchase
Keeping shareholders happy also appears high on the list for Wynn, with a recent equity repurchase program expanded to $1 billion cleared in November. The group’s CEO noted that “We are excited about the outlook for the Company, and we will continue to focus on driving long-term returns for shareholders.”
Grand Korea Leisure (GKL), South Korea’s leading operator of foreigner-only casinos, has released its interim report for October 2024, revealing a mixed performance in its gaming revenue.
In October, GKL recorded casino sales of KRW30.5 billion ($22.2 million), reflecting an 11 percent decrease from KRW34.3 billion ($24.9 million) in September 2024. However, this represents a 6.6 percent increase from KRW28.6 billion ($20.8 million) in October of 2023.
The decline in revenue from the previous month was primarily driven by a 12 percent drop in table game sales, which totaled KRW27.8 billion ($20.2 million), while machine game revenue showed a slight increase of 0.7 percent to KRW2.7 billion ($2.0 million).
Year-to-date figures reveal cumulative casino sales of KRW317.9 billion ($230.0 million) for 2024, marking a 5 percent decrease compared to KRW334.5 billion ($242.0 million) recorded during the same period last year.
The cumulative performance in table games also reflects a decline of 4.6 percent, totaling KRW289.4 billion ($210.0 million), while machine game sales decreased by 8.2 percent to KRW28.6 billion ($20.8 million).
Despite the challenges posed by economic conditions and fluctuating consumer sentiment, GKL noted that the overall gaming drop amount in October was KRW313.1 billion ($227.0 million), an increase of 12.7 percent from KRW277.7 billion ($201.2 million) in September.
This figure also shows a marginal increase of 0.7 percent compared to KRW310.8 billion ($225.2 million) from the same month last year.
South Korean foreigner-only casino operator Paradise Co reported casino revenue of KRW60.3 billion ($44 million) for October, remaining unchanged from the same month in 2023 and experiencing a slight decline of 1.3 percent compared to September.
In October, revenue from table games saw a sequential decrease of 1.6 percent, totaling KRW55.8 billion ($41 million), while revenue from machines increased by 3.4 percent to KRW4.45 billion ($3.2 million).
The table drop for the month was KRW542.4 billion ($395 million), down 3.8 percent from September and 0.7 percent from the same period in 2023.
For the first ten months of 2024, combined casino revenues are up 7.9 percent year-on-year, reaching KRW674.3 billion ($491 million), supported by a 13.9 percent increase in drop to KRW5.75 trillion ($4.2 billion).
Walker Hill CasinoIncheon Paradise City
The company operates several prominent casinos, including Walkerhill, Jeju, Incheon Paradise City, and Busan Casino. Paradise Co now plans to enhance its appeal to international guests by developing a luxury hotel in Seoul and upgrading its VIP gaming areas.
FeedConstruct, a data-providing company that delivers the most precise sports data and streaming from sporting events globally, has enhanced its offerings with the addition of another significant Korean sports content.
Based on the new partnership, the company has secured exclusive international streaming and data rights for all matches of Korea’s Volleyball Leagues and Cup competitions.
Korea’s V-League is one of the most prestigious and competitive volleyball leagues worldwide, particularly in Asia, renowned for its high-level matches and featuring top-tier local and international talents. FeedConstruct will cover all the matches from both the men’s and women’s competitions, ensuring comprehensive access to this elite league and delivering premium content.
The KOVO Cup, a highly anticipated annual event, serves as a lead-up to the V-League season, offering teams a platform to experiment with new rosters and strategies. Since 2018, the KOVO Cup has invited international teams, such as Thailand’s Supreme Chonburi, raising the tournament’s prestige and drawing significant attention from volleyball fans across the country.
Volleyball has been a prominent sport in Korea for decades, with the national teams consistently competing at high levels in major international tournaments like the Olympics and World Championships.
Reflecting on the new partnership, Narek Harutyunyan, CEO at FeedConstruct, stated: “We are thrilled to secure the exclusive international streaming and data rights for all matches of Korea’s Volleyball Leagues and Cup competitions. Korean volleyball has a rich history and a passionate fan base, and we are committed to providing comprehensive coverage of these elite competitions. This collaboration not only strengthens our global volleyball portfolio but also underscores our dedication to delivering premium sports content.”
KBSN Director Lee Ju Young, added: ‘’We are honored to collaborate with FeedConstruct on this project. We hope that Korean professional volleyball will receive more global attention. We believe that partnerships are significant because they carry weight.’’
KOVO’s Director Lee Young-ho said: “I am pleased that this partnership will enhance the global capabilities of Korean professional volleyball. It seems like a great opportunity to connect with many fans overseas through FeedConstruct. I hope this will be a good opportunity for Korean professional volleyball to grow to the next level.” By acquiring exclusive international streaming and data rights for Korea’s Volleyball Leagues and Cup competitions, FeedConstruct further expands its global volleyball portfolio and solidifies its position as a leading sports data and streaming provider.
Kiron Interactive, a global technology and software company that specializes in the development and supply of market-leading virtual sports and number games, has partnered with Flutter Entertainment PLC and creative studio Curious Games to debut the latest Next-Gen Casino title, Penguin Plunge, exclusively on Sky Vegas.
Sky Vegas players will be the first to dive into Penguin Plunge, featuring fast-paced, character-filled gameplay, and a thrilling bonus round designed to maximize winning potential and boost player engagement.
The partnership will also facilitate the exclusive UK launch of the Penguin Plunge festive edition, offering unique gameplay tailored to the holiday season.
These games result from collaboration with Curious Games, a visionary studio dedicated to pushing the boundaries of gaming visuals and player engagement through innovative gameplay and original concepts.
Sky Vegas will continue diversifying its product range with the inclusion of Kiron’s first-of-its-kind sports-themed Crash content. RODEO and Arm Wrestling are pioneering titles that deliver premium gameplay and provide operators with additional cross-sell opportunities.
The partnership will bolster Kiron’s rapidly expanding global presence and enhance the Sky Vegas product offerings. This rollout will later extend to Betfair and Paddy Power in 2025, enriching their casino portfolios with cutting-edge content.
James Murray, Head of New Business Development at Kiron, said: “Our aim is to partner with industry leaders like Flutter, who have a forward-thinking approach to online gaming. Sky Vegas offers the perfect platform to showcase our innovative vision for the future of casino gaming.”
Philippa Ayres, Head of Brand Content for Flutter UK&I and Sky Vegas, added: “Kiron’s Next-Gen suite exemplifies innovation. Penguin Plunge’s exclusivity and the upcoming seasonal updates underscore our commitment to delivering top-tier player experiences.”
