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SJM sustains support for the “929 Challenge Startup Competition” bridging China and Portuguese-speaking countries

AGBrief Editorial
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SJM sustains support for the “929 Challenge Startup Competition” bridging China and Portuguese-speaking countries

The Macau gaming operator, SJM Resorts, (SJM) continues to support the “929 Challenge Startup Competition Connecting China & Portuguese-Speaking Countries” this year, helping aspiring young entrepreneurs discover business development opportunities in Macau, the Greater Bay Area (GBA), and Portuguese-speaking countries (PSCs).

This competition is jointly organized by the Supporting Office of the Secretariat of the China and Portuguese-Speaking Countries Economic Cooperation Forum (Macao) and the Association for Entrepreneurship and Innovation Macau – China and Portuguese-Speaking Countries. 

This year, the challenge attracted 300 teams of university students and young entrepreneurs from nine key cities in the GBA, two Special Administrative Regions, and nine PSCs. The finals have recently concluded, following a two-week boot camp designed to equip participants with professional guidance.

SJM Resorts sustains support for the 929 Challenge Startup Competition bridging China and Portuguese-speaking countries_
Participants were able to expand their horizons by exploring SJM’s environmental initiatives at the resort and its three hotels.

This programme provided insights into business opportunities in the GBA and PSCs, market strategies, and the fundamentals of starting their entrepreneurial journeys. 

In addition, SJM invited finalists to a green tour at the Grand Lisboa Palace Resort Macau in mid-November. The Grand Lisboa Palace is notable for being the first integrated resort in Macau to receive the “ISO 20121:2024 Event Sustainability Management System Certification.” Participants were able to expand their horizons by exploring SJM’s environmental initiatives at the resort and its three hotels.

SJM Resorts sustains support for the 929 Challenge Startup Competition bridging China and Portuguese-speaking countries_
SJM taking finalists on a green tour at the Grand Lisboa Palace Resort Macau.

SJM is committed to enhancing Macau’s role as a Sino-Portuguese channel platform and is devoted to fostering talent through the organisation and sponsorship of various activities. This initiative aims to provide young people with expanded learning and development opportunities while supporting Macau’s “1+4” economic diversification strategy. 

PartnerMatrix and Momentoom partner to launch Agent System tools

AGBrief Editorial
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PartnerMatrix and Momentoom partner to launch Agent System tools

PartnerMatrix, a leading affiliate and agent management software provider, and Momentoom, a fast-growing and successful iGaming solution provider are excited to announce their partnership.

This collaboration introduces PartnerMatrix agent system software integration into Momentoom’s advanced platform offering, delivering innovative tools and enhanced functionality to operators worldwide.

The partnership brings together the strengths of two dynamic companies. Momentoom’s flexible Turnkey and API solutions, designed to meet the diverse needs of operators globally, now incorporate PartnerMatrix’s industry-leading agent management tools. Operators will benefit from improved network management, real-time performance tracking, and optimized player acquisition strategies, creating a seamless and scalable environment for growth.

PartnerMatrix agent system software is renowned for its ability to simplify and enhance the management of affiliate and agent networks. Its intuitive features allow operators to monitor campaign success, manage commissions, and effectively expand their market reach. The integration reflects both companies’ dedication to innovation and their shared commitment to helping operators achieve sustainable growth.

Vahe Khalatyan, CEO of PartnerMatrix, commented: “Momentoom is a fast-growing name in iGaming, providing truly targeted solutions for the market. PartnerMatrix will proudly cover agent management solutions, ensuring the most updated and cutting-edge agent tools for Momentoom’s audience. The agent market and networks are growing rapidly, and this partnership will surely bring an extra focus to the topic, with big potential in many regions worldwide.”

Artyom Dovlatyan, CPO of Momentoom, said: “The integration of PartnerMatrix agent system into our platform is an exciting milestone for Momentoom. This collaboration reinforces our commitment to delivering operator-centric solutions that drive efficiency and growth. PartnerMatrix’s expertise in agent and affiliate management aligns perfectly with our mission to empower operators in the iGaming industry.”

Together, the companies aim to equip operators with the tools they need to succeed in a competitive market.

VGCCC fines hotel operator $65K for providing false information on application

Kelsey Wilhelm
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VGCCC fines hotel operator $65K for providing false information on application

Australia’s crackdown on operators continues, with Goulburn Valley Hotel the latest focus of its investigations, leveling a AU$100,000 ($65,000) fine for ‘providing false information’.

According to a release from the Victorian Gambling and Casino Control Commission (VGCCC), the operator in November of 2022 applied for a license for 40 pokie machines at its Shepparton hotel.

However, it ‘did not disclose that the license nominee had been found guilty of two counts of negligently dealing with the proceeds of crime, without conviction, in June 2022’.

The group’s outgoing CEO Annette Kimmitt said that criminal offending disclosure is required as part of the license application process.

“By providing wrong information, an applicant impedes the regulator from fully assessing their suitability to hold a license,” noted the official.

“We expect applicants to abide by the law and provide complete and accurate information. This is a critical part of ensuring that the gambling industry operates with safety and integrity and is free from criminal influence or exploitation,” stated Kimmitt.

The group’s cooperation with authorities in the investigation had an impact on the overall fine issued, with Kimmitt furthering that the penalty “should demonstrate to other applicants and operators that we’re serious about compliance with legal obligations”.

Further license and reporting conditions have also been applied to Goulburn and another venue license associated with it.

Paradise Co. sees a 31.3% increase in casino revenue YoY in November

Viviana Chan
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Paradise Co. sees a 31.3% increase in casino revenue YoY in November

South Korean foreigner-only casino operator Paradise Co. reported a rise in casino revenue to KRW71.9 billion ($51.3 million) in November, reflecting a 31.3 percent year-on-year increase and a 15.5 percent rise compared to August.

The growth was primarily driven by the table gaming segment, with revenue from gaming tables increasing by 34.2 percent year-on-year to KRW67.5 billion ($48.2 million). In contrast, revenue from machines remained stable at KRW4.4 billion ($3.2 million), showing a slight 0.7 percent decrease from November last year.

Casino revenues for the period from January to November were up 10.1 percent year-on-year, totaling KRW748.2 billion ($533.8 million). This growth was supported by a 9.9 percent increase in table gaming revenue, which reached KRW699.9 billion ($499.3 million), and a 12.4 percent rise in machine segment revenue, which totaled KRW48.3 billion ($34.5 million).

The company operates several prominent casinos, including Walkerhill, Jeju, Incheon Paradise City, and Busan Casino.

Paradise Co. now plans to further enhance its appeal to international guests by developing a luxury hotel in Seoul and upgrading its VIP gaming areas.

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.

Daily Asia Gaming eBrief: Legal framework complicates Vietnam’s casino industry aspirations

AGBrief Editorial
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Daily Asia Gaming eBrief: Legal framework complicates Vietnam’s casino industry aspirations
Good morning. It’s all in the details. And Vietnam’s legal framework for casinos is either lacking in these or has an overly complicated process which experts say is hindering the long-term growth of the sector. Large foreign investors are itching to break into the market, but need clarity. Meanwhile, in Macau, things are looking up as China has shown its ongoing support for the SAR’s economic growth. However, in the short term, the high-profile visit by the nation’s top brass for the city’s handover anniversary will likely limit gaming activity this month.

What you need to know

On the radar

AGB Intelligence

VIETNAM

Golden Bridge, Vietnam

Vietnam gaming industry legal framework hindering long-term growth

Vietnam has immense potential as a gaming hub in Southeast Asia, but it’s being hindered by the current legal framework, which experts argue has unclear investment guidelines. The lack of cornerstone legislation that anchors the industry allows for exploitation of loopholes, while also causing general confusion for outside stakeholders wishing to invest. And facilitating gambling for locals could be a key turning point, as the pilot plan comes to its end.

Corporate Spotlight

1xBet: Capitalize on Asian teams’ World Cup qualifier struggles

Profit from the challenges faced by top Asian teams in World Cup qualifiers

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 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.

Industry Updates

MEMBERSHIP | INTELLIGENCE | ASEAN | CAREERS

Malaysia amending communications law to address online gambling

Kelsey Wilhelm
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Malaysia amending communications law to address online gambling

Malaysia’s Communication Minister has tabled a bill to amend the country’s 1998 Communications and Multimedia Act, to address issues including online gambling, scams, cyberbullying and other issues.

According to reports, this will be the first amendment to the Act since its implementation some 26 years ago.

The bill is also expected to expand the Malaysian Communications and Multimedia Commission’s authority in issuing directions and standards as well as in conducting its audits.

The bill, if approved, would also allow the minister to make further regulations – including harsher penalties for non-conforming operators.

Macau launches new light rail connection to Hengqin Port, encouraging tourist visitation

Kelsey Wilhelm
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Macau launches new light rail connection to Hengqin Port, encouraging tourist visitation

Macau is further improving its infrastructure connections to mainland China, with the new Light Rail Transport (LRT) system linking Macau to the neighboring Hengqin commencing operations on Monday.

According to the company, the new line is expected to increase the flow of visitors and residents between the region and the Lotus roundabout – located at the end of the Cotai Strip.

The new line is about 2.2 kilometers in length, with the trip taking approximately 2 minutes.

Macau’s outgoing Chief Executive Ho Iat Seng was present for the inauguration of the line, one of his final public acts before his replacement on December 20th.

Speaking at the launch event, Ho Cheong Kei, president of the board of the LRT, indicated that “this offers a new form of transport for residents and tourists to Macau to access the Hengqin Port, as well as a integration of transport networks in the Greater Bay Area”.

Authorities have been pushing for further integration, offering relaxed visa measures for Zhuhai residents to enter Macau recently.

This comes amongst an ever-increasing rail network linkage between Macau’s neighboring city of Zhuhai and the rest of the mainland, and the expansion of its international airport.

Kangwon Land investing $128M in building new casino

Kelsey Wilhelm
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Kangwon Land investing $128M in building new casino

Kangwon Land, Korea’s only casino accepting local patrons, has announced that it is planning to invest some KRW179.6 billion ($128 million) to construct a ‘second casino business site’, as part of its KRW2.5 trillion ($1.78 billion) new development plan.

According to a filing on Monday, this is ‘To create a more enjoyable gaming environment by addressing the issue of overcrowding in existing casino’.

The change will expand the group’s casino size to 20,260 square meters, from 14,512 m2, while increasing table numbers by 50 (to 250) and machine units to 1,610 (from 1,360).

The location is set as the B1,B2, ‘ground floors, etc’ of High1 Grand Hotel Main Tower. The construction period is between November of this year and December of 2027.

Kangwon Land Resort, South Korea

Kangwon Land received approval for the change from the Ministry of Culture, Sports, and Tourism on September 4th.

Equity capital for the project totals KRW3.67 trillion ($2.62 billion).

Jeju Dream Tower casino sales increase 45.5% YoY in November 

Viviana Chan
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Jeju Dream Tower casino sales increase 45.5% YoY in November 

Casino net revenue at Jeju Dream Tower rose by 45.5 percent year-on-year in November, reaching KRW26.08 billion ($18.6 million). Month-on-month, casino sales increased by 7.8 percent.

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

Visitor numbers to the casino in November totaled 35,812, representing a 4 percent decline compared to October but a 25.4 percent increase year-on-year, as outlined in a separate earnings presentation.

Hotel sales for the month amounted to KRW5.56 billion ($4 million), reflecting a 27.7 percent drop month-on-month and a 16.2 percent decrease year-on-year.

For the first 11 months of 2024, casino revenue reached KRW271.05 billion ($193 million), a notable 96.3 percent increase compared to the same period in 2023. Table games generated the majority of this revenue, contributing KRW254.33 billion ($181 million), a 103.8 percent rise year-on-year. Revenue from gaming machines during this period stood at KRW16.72 billion ($12 million), up 26.0 percent year-on-year.

Hotel revenue for the January-to-November period totaled KRW79.09 billion ($56 million), marking a 6.7 percent decline compared to the prior year.

The casino’s table drop – the amount customers wagered on table games – reached KRW133.10 billion ($95 million) in November, a decrease of 2.9 percent month-on-month but a 13.9 percent increase year-on-year.

For the first 11 months of 2024, the table drop amounted to KRW1.38 trillion ($982 million), a 20.6 percent growth compared to the same period in 2023.

Galaxy Gaming partners with BetConstruct to expand Premium Table Game content distribution

AGBrief Editorial
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Galaxy Gaming partners with BetConstruct to expand Premium Table Game content distribution

Galaxy Gaming, a developer and distributor of innovative games, bonusing systems, and technology solutions to physical and online casinos worldwide, has announced an agreement with the leading platform and content provider BetConstruct, to license Galaxy’s premium table game content across the Live Casino and RNG (Random Number Generator) offerings powered by CreedRoomz and Pascal Gaming respectively.

Under the agreement signed by Galaxy Gaming Inc. and BetConstruct’s parent company SoftConstruct, Galaxy’s popular online brands—including 21+3®, Perfect Pairs®, Buster Blackjack®, Lucky Lucky®, and Three Card Prime® — will enhance BetConstruct’s Blackjack, Baccarat, and Poker offerings, expanding both companies’ presence in the global gaming market.

“We are thrilled to announce that Galaxy games will now be available through BetConstruct,” said Jason McCulloch, Vice President of iGaming at Galaxy Gaming. “As a global leader in table game content, we see strong alignment with BetConstruct’s strong international presence and market reach. We look forward to the opportunities this collaboration will bring as we continue to expand into new markets and deliver exceptional gaming experiences to a broader audience.”

“As we continue to innovate, partnering with Galaxy Gaming allows us to bring some of the world’s most beloved table games to our customers. These exciting titles perfectly complement our game selections and will enhance the offerings from CreedRoomz and Pascal Gaming.” said Sargis Poghosyan, Deputy CPO at SoftConstruct, “Galaxy games are a natural fit for our platform, and help us meet the growing demand for variety and quality across our markets. By adding them, we’re taking another step toward expanding our reach and delivering even more value to our players.” 

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