International Game Technology (IGT) has been hit with a cybersecurity breach and a disruption of ‘portions of its internal information technology systems and applications’ as a result of the breach.
According to a filing with the United States Securities and Exchange Commission (SEC), the company ‘became aware that an unauthorized third party gained access to certain of its systems’ on November 17th.
In response, the group ‘activated its cybersecurity incident response plan and launched an investigation […] to assess and remediate the unauthorized activity’.
As part of this, the group also took ‘certain systems offline to help protect them’.
The group notes that its investigation continues, and its response includes ‘efforts to bring its systems back online’.
The company did not detail exactly which systems were targeted but did note that it ‘has not yet determined whether this incident is material’.
It furthered that it ‘has implemented alternatives for certain operations in accordance with its business continuity plans to mitigate disruptions and continue servicing its customers’.
The International Betting Integrity Association (IBIA) has announced a major upgrade to its technology platform, which supports its global integrity monitoring network covering over $300 billion in betting transactions annually.
The entity considered that this enhancement to its platform, developed in partnership with Bluehouse Technology, aims to equip IBIA and its growing membership with advanced tools to safeguard regulated betting markets, protect consumers, and uphold the integrity of sporting events worldwide.
Khalid Ali, CEO, IBIA
Khalid Ali, CEO of IBIA, stated that, with the new platform, the entity could now analyze its members’ customer account data more effectively, covering over $300 billion in betting transactions each year.
“It’s designed to keep up with the integrity needs of our expanding membership and the extensive market data we handle. This will be a crucial part of our efforts to protect the integrity of sporting events and regulated sports betting markets around the world”, Ali added in an announcement by the association.
The IBIA’s global monitoring network serves as an anti-corruption tool – detecting and reporting suspicious activities in regulated betting markets through transactional data linked to individual customer accounts.
Some 42 alerts were issued by the IBIA during the third quarter of this year, which were said to have contributed to the investigations and subsequent successful sanctioning of 21 clubs, players and officials.
The upgraded platform introduces several key technological advancements to enhance this process, all of which were said to have successfully passed an independent security audit by Bulletproof, a Gaming Laboratories International (GLI) company.
The upgraded platform is designed to meet the specific operational needs of IBIA, streamlining the process of identifying and reporting suspicious betting activity, and allowing for a faster and more efficient response to potential integrity threats.
‘The new platform enhances the ability to monitor suspicious activities, improve data analysis, and share actionable insights with key stakeholders, including gambling regulatory authorities’, the IBIA pointed out.
‘This boost in interaction and collaboration is essential for supporting important investigative activities and reinforcing trust in the integrity of global betting markets.’
The organization recently commissioned a study that indicated that the sports betting market in Asia is witnessing significant growth, especially in basketball and football betting.
The new platform launch also comes shortly before the sports betting market opening in Brazil, which is forecast by H2 Gambling Capital to reach $34 billion in sports betting turnover by 2028, with IBIA members representing over 70 percent of the market’s gross gambling revenue.
The dynamics driving gross gaming revenue (GGR) growth in Macau have evolved significantly over time, with the current trend being significant spend by premium players, requiring more high-end hotel rooms.
In the past, the traditional model was straightforward: increasing the number of hotel rooms would naturally lead to higher GGR. However, this logic has shifted, and the focus has now moved toward catering to the premium mass segment, where larger, more luxurious hotel suites play a pivotal role in driving revenue.
In the latest report entitled “Recipe for FY25E GGR Growth” by Citigroup analysts George Choi and Timothy Chau, it is mentioned that historically, the formula for GGR growth was simple: more hotel rooms, and increased gaming activity. However, this approach is no longer as effective in the current market.
The new growth driver in Macau’s gaming sector is the expansion of high-end hotel suites tailored to premium mass players. These players, who tend to place higher wagers, benefit from staying in more spacious and exclusive accommodations, which directly influences the number of hands they play at the tables during their stays.
Set to open in mid-2025, Capella at Galaxy Macau will become the resort’s ninth hotel brand, following the recent introductions of Andaz and Raffles.
This shift in focus toward premium mass players reflects broader trends in global gaming markets, where the emphasis has moved from quantity (more rooms) to quality (larger, more luxurious suites). The impact of this shift is clear: although the total number of hotel keys may decrease, the increase in the supply of high-end suites is expected to bolster GGR, as these suites attract higher-spending players who are likely to stay longer and play more.
Several key developments in hotel supply are expected to further fuel the growth of the premium mass market. Major casino operators are set to expand their suite offerings in the coming years, particularly in 2025, which will have a significant impact on GGR growth.
For instance:
Sands’ Londoner Grand will introduce approximately 1,500 new suites.
MGM‘s properties will contribute around 70 new suites.
Smart tables and new side bets
The implementation of smart gaming tables and new side bets is also seen as a key growth driver for 2025. Citigroup notes that smart gaming tables with RFID chips are increasing gameplay speed. For example, a player betting HK$10,000 ($1,285) per hand at a traditional baccarat table typically plays 40 hands per hour, generating HK$400,000 ($51,390) in gaming volume.
Switching to a smart table reduces the game time by just 5 seconds per hand, and the player’s gaming volume increases to HK$423,529 ($54,413), a 5.9 percent rise in GGR per hour. This faster gameplay allows casinos to generate more revenue per player.
Meanwhile, baccarat side bets, such as Lucky 6, Big 6/Small 6, and Lucky 7, have become increasingly popular since their introduction. These bets contribute to a higher house edge, which increases the theoretical hold rate from around 2.85 percent to over 3.15 percent. The growth in the popularity of side bets directly impacts GGR, providing casinos with an additional revenue stream.
Visitation to increase mid-single digits
But bringing in more visitors overall is still important.
In the first half of 2024, China added ten cities to the Individual Visitor Scheme (IVS), increasing the number of cities from 49 to 59. As a result, visitation from mainland China grew significantly, with visitors from these new cities rising by 54 percent year-on-year, contributing to a 36 percent increase in overall mainland Chinese visitation.
Analysts George Choi and Timothy Chau note that the growth in visitors, along with the impact of the new IVS cities, is expected to drive a mid-single-digit increase in tourist arrivals, reaching around 35.7 million in FY25. This will lead to a boost in both the number of players and GGR.
Citigroup forecasts Macau’s GGR to grow by 7 percent year-on-year in FY25, reaching MOP242.5 billion ($30.4 billion), or 83 percent of the 2019 level.
For FY26, GGR is expected to increase by 8 percent year-on-year, reaching MOP261.9 billion ($32.8 billion), or 90 percent of the 2019 level.
The Macau government has projected FY25 GGR at MOP240 billion ($30.04 billion), slightly lower than Citigroup’s forecast. Historically, the government has underestimated GGR by 10 percent to 60 percent in most of the last decade, suggesting that Citigroup’s forecast may have significant upside potential.
The Tasmanian government is walking back its promise to introduce mandatory carded play for pokies that was initially promised back in 2022.
The Australian state’s government now says it has ‘deferred progress’ on the issue, claiming it prefers to work with other states on a pre-commitment solution.
The issue has resulted in a motion of no-confidence in the state’s Premier, Jeremy Rockliff.
The idea for mandatory carded play was initially announced on the recommendation of the state’s gaming and liquor regulator – aiming to establish pre-set loss limits of up to AU$100 ($65) per day or AU$5,000 ($3,250) per year, in a bid to curb problem gambling and reduce gambling harm.
The card had been expected to be implemented by the end of 2024, a date later pushed back to the end of 2025 due to the complexity of the system.
Authorities say this is based on a report by MaxGaming, who is tasked with implementing the system, which mentioned the complexity of the system as well as a “likely significant cost increase and implementation delays”, notes ABC.
“But there are many other ways that we can support people in Tasmania, vulnerable Tasmanians with gambling addiction,” he stated.
The original proponent of the plan, former treasurer Michael Ferguson, noted his “great disappointment that the government and the cabinet have made the decision that they have, it may be that they have information that I don’t have access to”.
However, Ferguson did indicate that statements by officials “made very clear that this is a deferral, not a destruction, of what is nation-leading, evidence-based, pro-family, pro-freedom policy”.
Independent MP Kristie Johnston
Independent MP Kristie Johnston noted that “it’s obvious that the THA (Tasmanian Hospitality Association) is running this government […] they secured big tax cuts to their pokies’ revenue in advance of the introduction of a mandatory player pre-commitment card. Their profits went up by 40 to 60 percent,” cites the publication.
According to government data cited by The Guardian, Tasmanians have lost more than AU$1.14 billion ($749 million) on pokies since the March 2018 Tasmanian election (which proposed the removal of the machines from pubs and clubs). There are reportedly some 2,300 pokie machines located across 91 venues in the state.
New South Wales, Victoria and Western Australia have already introduced carded play, with casino operators such as Crown Resorts, The Star, and SkyCity (who is also introducing it at its New Zealand casinos) already rolling out the measure.
P&O Cruises Australia is possibly facing a class action lawsuit for predatory behavior by encouraging guests to gamble regardless of knowing their financial ability to repay possible debts.
The claim was sparked by the death of a man who jumped (or fell) off P&O’s Pacific Adventure cruise ship in May of this year on the vessel’s approach to Sydney.
According to the law firm investigating the possible lawsuit, the passenger reportedly lost thousands of dollars over two evenings at the ship’s casino.
The law firm in question, Carter Capner Law, has accused the cruise ship operator of incentivizing guests to gamble by offering credit and plying them with free alcohol and other incentives such as free cruises.
The law firm’s director Peter Carter has reportedly been ‘inundated’ with complaints from other former cruise passengers, including claims that self-exclusion was not optional and that passengers were questioned and held onboard by staff when unable to settle their gambling debts.
In statements to ABC Radio Sydney, Carter noted that “The cruise lines think that once they’re in international waters everything goes”.
“The main protagonist, according to the numbers who’ve already expressed their interest to us, is Carnival and their brands P&O and other Carnival cruises. Royal Caribbean featured to some extent — they’re the only two that are featuring at the moment and they’re the ones that [have] operated out of Australia over the last six years,” Carter told the broadcaster.
A P&O Cruises Australia spokesperson indicated that the company had “Responsible Conduct of Gaming Policies in place on all P&O ships and take those policies seriously”.
P&O Cruises Australia is set to re-brand into its parent company Carnival Corporation under the Carnival Cruise Line in March of next year.
In an update to the Korea Stock Exchange on Tuesday, South Korea’s leading foreigner-only casino operator, Paradise Co., announced that construction on its new flagship hotel project is set to begin in the first quarter of 2025, with the opening scheduled for 2028.
The estimated cost of constructing the hotel is between KRW500 billion and KRW550 billion ($360 million – $400 million). This move is part of a revamped strategy aimed at attracting more international high-rollers to its properties.
When the company first announced the project in July, CEO Choi Jong-hwan said that the goal is to establish a premier hotel in Seoul, which will set a new benchmark in the hospitality industry. The hotel will feature all-suite accommodations, premium services for foreign VIPs, luxurious Korean-style cuisine, and wellness amenities.
The hotel will stand 18 stories tall, with approximately 200 rooms and an additional five basement levels, spanning 13,950 square meters.
Meanwhile, in September, Paradise Casino Walkerhill opened a new space optimized for high-roller games exclusively for VIPs, covering 383.31 square meters.
The company has projected steady business growth in the coming years, forecasting that its sales will reach KRW1.32 trillion ($952 million) by 2026. This projection is based on its 1H24 results, which revealed that its estimated sales, including affiliates not subject to consolidated financial statements, totaled KRW569.9 billion ($410 million), with an operating profit of KRW91.2 billion ($66 million).
Macau’s gross gaming revenue (GGR) is estimated to have reached approximately MOP10.1 billion ($1.26 billion) for the first 17 days of November, implying a daily run-rate of MOP594 million ($74.4 million), according to the latest weekly update from Bank of America.
Industry checks indicate that the average daily revenue (ADR) for the period from November 11th to 17th stood at MOP630 million ($78.9 million), a noticeable increase from MOP570 million ($71.4 million) during the first ten days of the month.
This uptick comes despite disruptions caused by adverse weather conditions, including a typhoon, and the added pressure from the Grand Prix, which often diverts attention away from the gaming sector.
Several typhoons have impacted Macau and the surrounding areas in recent weeks, causing temporary disruptions, including the suspension of ferry operations between Macau and surrounding cities and the closure of the Hong Kong–Zhuhai–Macau Bridge.
With positive momentum observed so far this month, Macau’s gaming revenue appears set to meet Bank of America’s forecast for November, which predicts total GGR to reach MOP18 billion ($2.25 billion). This would represent a 12 percent year-on-year increase, bolstered by a relatively low base from last year.
A closer look at the revenue performance reveals mixed results across different segments. VIP revenue declined by 12-14 percent month-on-month, with the win rate returning to normal levels after being below average during the first ten days of November. Meanwhile, mass-market revenue was down by 10 percent MoM, reflecting softer demand in this segment.
Despite some headwinds, Macau’s gaming sector remains attractively valued. Bank of America remains optimistic about key operators, highlighting Galaxy Entertainment for its strong balance sheet and consistent market share.
Additionally, Sands China is seen as a potential winner in 2025, with expected margin improvement following the completion of renovations at The Londoner Macao and the possible resumption of dividends.
SJM shows GGR share gain in 3Q24
In 3Q24, Macau’s gaming sector saw a slight dip in EBITDA, which fell 2 percent quarter-on-quarter, despite an 8 percent year-on-year growth. This QoQ drop was primarily attributed to higher non-gaming spending and a still-high reinvestment rate. However, most operators noted that competitive intensity appeared to have stabilized.
SJM was the standout performer during the quarter, becoming the only operator to gain market share in terms of GGR. Its GGR share increased by 1.4 percentage points, reaching 14 percent, which was aided by favorable luck. This improvement allowed SJM to climb to the No. 5 position, displacing Wynn Macau. Meanwhile, Sands continued to maintain the largest share of EBITDA at 31 percent.
Despite the quarterly setback, the sector’s overall EBITDA remains resilient, showing positive year-on-year growth and reflecting continued recovery and adaptation in the competitive gaming landscape.
Light & Wonder, Inc. has launched its latest slot game, Ithaca’s Gold™, developed by specialist slot provider Lightning Box, one of Light & Wonder’s in-house studios.
Set against the backdrop of the mythical shores once home to Odysseus, the 3×5 slot takes players on a thrilling journey, where each spin has the potential to unlock dazzling treasures and monumental jackpots.
Landing three or more scatter symbols triggers the Free Games with a Picking Feature. Players enter a pick screen set across a treasure map displaying five islands where they are awarded five free games. Each island hides a game multiplier, symbol removal, or extra free games.
The picking continues until the Free Games Start option is revealed; only until then will the bonus begin, with all collected modifiers boosting the chances for lucrative wins.
The game’s respin feature activates when two or more scatter coins and one scatter collect symbol appear, introducing an extra horizontal reel, and increasing the chance for massive prizes.
During the respins, players can collect Mini, Minor, Major, and Grand Jackpot prizes that increase as the bet multiplier rises. This feature adds a dynamic and exciting element to the gameplay, allowing jackpots to be won multiple times.
Ithaca’s Gold™ offers an exciting Bonus Buy option enabling players to jump straight into the action-packed free games, including the picking feature, all for a fixed price in select jurisdictions.
With compelling visuals, captivating features, and high-stakes gameplay, Ithaca’s Gold™ transports players to the fabled land of Ancient Greece for an unforgettable gaming adventure.
Ithaca’s Gold™ is a Light & Wonder title available exclusively for online players at Caesars in New Jersey, Michigan, and Ontario.
Michael Maokhamphiou, Studio Director at Lightning Box, said: “Ithaca’s Gold™ captures the essence of our unique slot gameplay with its immersive features and high win potential. The combination of Picking Feature Free Games and Respins ensures every spin is packed with entertainment.”
Rob Procter, VP of Game Development at Light & Wonder, said: “Our in-house team at Lightning Box continues to deliver exceptional content that resonates with players. Ithaca’s Gold™ is a testament to our commitment to evolving our portfolio with innovative and engaging game mechanics.”
Assets worth approximately SG$1.85 billion ($1.4 billion) have been surrendered by 15 foreign suspects, linked to Singapore’s largest money laundering case, who are currently on the run.
According to the Straits Times, this brings the total assets surrendered in the case to nearly SG$2.8 billion ($2.1 billion), following SG$944 million ($704 million) previously surrendered by 10 money launderers who have been jailed and deported.
The police announced that the 15 suspects, who have been barred from returning to Singapore, agreed to surrender their assets in exchange for the withdrawal of Interpol Red and Blue Notices against them.
The suspects include individuals linked to organized crime activities, with many being Chinese nationals holding citizenship from various countries, including Cambodia and Turkey.
The investigation began after a series of raids on August 15th, 2023, which resulted in the arrest of 10 individuals connected to scams and online gambling operations. Their assets included luxury cars, properties, and high-value items like jewelry and watches.
Individuals involved have also been tied to offshore gaming operations in the Philippines.
Authorities continue to pursue two additional suspects, Xu Haika and Xu Hainan, whose assets, valued at about SG$144.9 million ($108 million), remain seized. The Singapore government has indicated that it will handle their case under recently enacted anti-money laundering laws.
In response to the unfolding situation, the Singaporean government is enhancing its anti-money laundering measures to safeguard the city-state’s reputation as a trusted international financial hub.
Oddin.gg has been named the fastest-growing company in Central Europe, securing 1st place in the main category at the Deloitte Technology Fast 50 Central Europe 2024 Awards. This esteemed accolade recognizes the CEE region’s top technology companies based on percentage revenue growth from 2020 to 2023.
Founded in Prague in 2018, Oddin.gg has quickly established itself as the global leader in end-to-end esports betting solutions. The company attributes its success to a strategic focus on a rapidly growing industry, precise timing, and the seamless integration of human expertise with advanced technology.
Early on, Oddin.gg identified the immense growth potential of esports and recognized that traditional sports betting models were inadequate for this fast-moving market. By developing bespoke solutions designed to process large volumes of data and process it at unparalleled speeds, the company has effectively redefined the standard sports betting experience for esports.
In addition to mastering the top innovative technologies, Oddin.gg has also attracted various great talents. The company has assembled a robust team of now over 100 traders, many of whom are former professional esports players, a Risk Management team known for tackling complex, investigative challenges, and developers, as well as other specialists located across the globe. A shared passion for esports unites these experts, driving innovation and excellence.
Since its inception, Oddin.gg has operated with a global perspective. Its Prague headquarters serves as the foundation of its operations, while its Lima office enables the company to manage workflows across all time zones and attract top talent from around the world.
Oddin.gg continues to invest heavily in artificial intelligence, including generative AI and large language models (LLMs), to further refine its algorithms and infrastructure for the evolving esports betting vertical.
Vlastimil Venclik, CEO of Oddin.gg
Commenting on the win, CEO and Co-Founder Vlastimil Venclík shared: “We are honored by this recognition from Deloitte. This award reflects our team’s dedication, innovative approach, and the trust our investors and partners have placed in us. Our technology, infrastructure, and the expertise of our global team enable us to provide an unparalleled esports betting experience to esports fans globally. For us, it’s about delivering speed, accuracy, and reliability to operators while ensuring seamless engagement for bettors.”
Oddin.gg’s business growth is rooted in its ability to meet the demands of a new generation of bettors who value speed, variety, and creativity. The company continues to set the standard for innovation in esports betting.
Reflecting on the company’s journey, Venclík added: “Our path has been anything but easy—there were moments we almost didn’t make it. However, we’ve learned to stay resilient and focused on our vision. Esports is emerging as the next major entertainment vertical, and we’re thrilled to contribute to its growth by providing sustainable revenue opportunities for operators and fresh experiences for bettors.”
Marek Suchar, Managing Director at Oddin.gg receiving the award at the Deloitte Technology Fast 50 Central Europe 2024 Awards
