Pragmatic Play, a leading content supplier to the iGaming industry, has launched Bow of Artemis, the latest epic addition to its popular Greek Gods series.
The fabled Goddess of the Hunt takes aim at wins when 5-25+ symbols connect horizontally or vertically on the 8×8 grid. In the base game, coloured markings can appear randomly behind normal symbols on every winning spin. When a win occurs on a marked spot, it triggers one of six special spin features after tumbles.
The special spin features confer a range of benefits on players, each designed to increase winning opportunities. These include refreshing the grid with new symbols, transforming all instances of a random symbol into wilds, adding colossal symbols to the reels, and populating the grid with up to 30 instances of a random paying symbol.
Artemis also has The Hunt feature in her sights. On every spin, the number of winning symbols that exploded during tumbles is counted in a meter. When the meter fills, The Hunt feature activates at level one with a total multiplier of 1x, 2x, 3x or 5x depending on how many winning symbols were collected.
Irina Cornides, Chief Operating Officer at Pragmatic Play, said: “Expanding Pragmatic Play’s award-winning Greek Gods series, Bow of Artemis introduces a range of special spin modifiers and a thrilling multi-level bonus game, all of which can help players in their hunt for wins of up to 10,000x.”
The Indonesian government has taken steps to block internet access from Cambodia and the Philippines as part of its commitment to eradicating online gambling within the country.
Officials indicate the possibility of extending this restriction to more countries. The Director General of Information and Public Communication at the Ministry of Communications and Informatics, Usman Kansong, notes that the situation is being monitored closely.
Usman explained that these two countries were targeted because they have the highest number of online gambling sites infiltrating Indonesia.
Despite this, Usman acknowledged that online gambling activities are likely to occur in many other countries. He mentioned that any further blocking measures would be considered based on their urgency and necessity.
He pointed out that other ASEAN countries also host servers that could facilitate online gambling, so the government will evaluate the specific needs and priorities before taking additional action.
According to Budi Arie Setiadi, the Minister of Communication and Information, the government’s actions through the online gambling eradication task force have successfully reduced online gambling transactions in Indonesia by about 50 percent.
Data from the Financial Transaction Reports and Analysis Center (PPATK) in 2024 show that the task force’s efforts have decreased public access to online gambling by 50 percent and reduced public deposits on online gambling sites by a total of IDR34.49 trillion ($212 million), as reported on Thursday, July 25th.
The move to legalize gaming in Thailand could unlock a substantial $15.1 billion market, creating new dynamics in the regional gaming landscape. Analysts at CLSA suggest that this development, while significant, presents ‘more opportunities than threats’ for Macau’s gaming concessionaires.
In an in-depth research spanning 100 pages, analysts Jeffrey Kiang, Naphat Chantaraserekul, and Leo Pan indicate that with the first entertainment complex potentially launching by 2029, Thailand’s nascent gaming sector is poised to attract substantial interest.
Despite the potential influx of Chinese tourists—a critical demographic in Thailand’s post-COVID tourism recovery—key distinctions between Macau’s and Thailand’s tourism offerings are expected to preserve the resilience of Macau’s gaming industry.
Macau, known for its well-established gaming infrastructure and unique cultural heritage, offers a different experience from Thailand’s emerging market. Thailand’s tourism market is renowned for its affordable, high-quality offerings and has swiftly recovered from the pandemic, with visitation projected to reach 35.5 million in 2024, just 11 percent below 2019 levels, according to the Bank of Thailand.
Looking ahead, China and India, which accounted for 33 percent of Thailand’s visitors in 2019, are anticipated to drive long-term growth. With travel penetration rates of 0.8 percent for China and 0.1 percent for India, which are lower than those of other Asian countries (ranging from 1.4 percent to 14.5 percent), they have significant potential.
While Thailand may become a new growth driver for Macau’s gaming concessionaires, analysts believe that gaming legalization in Thailand ‘will not significantly cannibalize Macau’s tourism market.’
‘The vast differences in visitor profiles, such as length of stay and origin, support this conclusion’. This diversification in tourist attractions ensures that both markets can coexist and potentially drive growth through regional tourism synergies, benefiting both destinations.
Growth driver for the next 20 years
Macau’s casino operators increasingly view Thailand as a promising avenue for organic growth over the next two decades. With supportive policies and a robust tourism industry, Thailand could eventually generate annual gross gaming revenues of $15.1 billion, potentially ranking as the world’s third-largest by 2023. In terms of geography, visitor mix, and appeal, Singapore emerges as the most comparable market to Thailand, according to CLSA research.
Under the proposed 17 percent gaming tax rate, Thailand’s entertainment complexes are expected to achieve an EBITDA margin of 40 percent or higher once fully operational. This is favorable compared to Singapore’s integrated resorts, which, with a similar gaming tax rate, have achieved EBITDA margins of around 50 percent.
In contrast, Macau’s properties, facing a 40 percent gaming tax rate, have seen EBITDA margins between 25 percent and 30 percent. As such, Singapore serves as a more accurate benchmark for assessing profitability in Thailand compared to Macau, as noted by CLSA.
With a minimum required investment of $2.7 billion per license holder, Thailand’s gaming properties are likely to provide significant economic value when compared to Macau’s six concessionaires. The favorable gaming tax rate and potentially less stringent regulations regarding table and slot machine counts make Thailand an attractive investment destination.
CLSA estimates that the return on invested capital (ROIC) could reach up to 23.9 percent, ‘surpassing the weighted average cost of capital (WACC) of 9.6 percent to 13.2 percent for the six companies.’
Regional Impact
The potential expansion of Thailand’s land-based gaming market is expected to impact the broader Southeast Asian gaming landscape, with significant implications for regional operators.
According to CLSA research, although there may be some risk of cannibalization, particularly in markets similar to Singapore, ‘the threat to Macau remains limited,’ due to its unique appeal to mainland Chinese tourists compared to Thailand’s international visitor base.
Among Macau operators, ‘Galaxy is likely to experience the greatest impact,’ due to its interest in expanding beyond regional markets and its financial capacity to support such initiatives. In contrast, ‘Melco and SJM are less likely to bid for a Thai concession,’ due to their current strategic priorities and financial considerations.
‘SJM’s priority will be ramping up its Grand Lisboa Palace, while in Melco’s case, it may well be interested but the amount of debt currently on its books could preclude such a move.’
For US-based Macau operators, it is expected that MGM will increase its dividends to help fund its parent company MGM Resorts‘ venture in Thailand; the same may apply to Wynn Macau and Sands China, whose respective parents are likely to bid for a concession.
SPiCE Philippines 2024 will offer global providers the opportunity to showcase their latest innovation in gaming products and technologies on the exhibition floor for potential collaboration with new and existing clients. Make the most of the opportunity to network and establish valuable business connections.
The 3rd edition of the Strategic Platform for iGaming Conference & Exhibition (SPiCE) Philippines to be held in Cebu, Philippines from 17 – 19 September 2024, will be the biggest gathering of all stakeholders from the gaming and betting industry in Southeast Asia.
SBC Summit Lisbon 2024 conference and exhibition is where global leaders in Sports Betting and iGaming assemble to discuss the future of the industry, exchange knowledge and build powerful connections.
Formerly known as SBC Summit Barcelona, the event now unveils an upgraded venue and location strategically chosen to seamlessly accommodate its remarkable recent expansion. the continuation of the renowned SBC experience and uncompromising quality.
Industry professionals from across the globe are set to gather for SPiCEInternational 2024, a premier networking event designed to foster connections, share insights, and explore business opportunities within the gaming sector.
Hosted in the heart of Taipei, this two-day event will take place on November 28 – 29, 2024, offering attendees an unparalleled platform to engage in meaningful dialogue and gain valuable industry knowledge.
Good morning. It’s always darkest before the Don. Vietnam’s ambitious plans to develop a thriving integrated resort (IR) sector have encountered significant hurdles, with the Phu Quoc pilot project and the Van Don plans facing notable challenges. Despite these setbacks, some experts remain cautiously optimistic, citing the region’s recovering tourism industry and Vietnam’s overall economic resilience, potentially benefiting the IR sector in the long run. Meanwhile, for Fitch’s CreditSights Las Vegas Sands demonstrated ‘resilience and growth’ in its second-quarter 2024 performance. Also, in a major deal, IGT Gaming and Everi Holdings will be acquired by funds managed by Apollo Global Management in an all-cash transaction valued at approximately $6.3 billion.
What you need to know
Vietnam’s Phu Quoc and Van Don IR projects face significant delays, with underwhelming progress and ongoing losses.
Vietnam’s ambitious plans to develop a thriving integrated resort (IR) industry have encountered significant challenges. The Phu Quoc pilot project, including the Corona Casino, has struggled with underdeveloped transportation infrastructure and high entry requirements for local Vietnamese, leading to accumulated losses. The Van Don project, with investments from companies like FLC and Sun Group, has also faced delays due to issues with land use rights, complex terrain, and the underwhelming performance of the Corona Casino. While some experts remain cautiously optimistic about the region’s tourism recovery and Vietnam’s economic resilience, the realization of Vietnam’s IR potential remains uncertain as these flagship projects continue to falter.
Online gaming fraud is on the rise in the iGaming industry. In Q1 2022, there was an 85% increase in fake account registrations compared to Q4 2021. While players are undoubtedly affected by gaming fraud, iGaming platforms also suffer due to damaged reputations, huge financial losses, and legal consequences.
Vietnam’s ambitious plans to develop a thriving integrated resort (IR) sector have encountered hurdles, with the Phu Quoc pilot project and the Van Don plans facing notable challenges.
Currently, only two casino establishments in Vietnam are permitted to open to local players. Amid the country’s nationwide anti-corruption movement and the impact of various factors, including the pandemic, the realization of their potential remains uncertain.
The Phu Quoc pilot project, which includes the Corona Casino, was touted as a flagship endeavor for Vietnam’s IR industry. However, the project’s progress has been less than stellar.
Speaking to AGB, a Vietnamese casino investor who preferred not to be identified noted that “the primary issue with the Phu Quoc project lies in the island’s underdeveloped transportation infrastructure”.
“The project is designed for high-end tourism but struggles to attract a larger, mass-market audience”, he noted.
The Vietnamese gaming expert highlights that the entry requirements for local Vietnamese at the Corona Casino are a significant barrier. Locals are required to present a range of documents, including proof of monthly income of at least VND10 million ($394), property rental contracts, savings account statements, and personal income tax declarations.
“The rigorous documentation process is deterring many potential local visitors. It’s creating an obstacle for locals who want to participate,” the expert explains.
According to a report from March this year, the Vietnamese Ministry of Finance revealed that the Phu Quoc pilot casino has accumulated over VND6.4 trillion ($259.1 million) in losses.
Initially, a trial period allowing Vietnamese citizens to gamble in certain casinos on Phu Quoc Island and in Van Don District was permitted by the Politburo in 2016, spanning three years. However, only the casino project on Phu Quoc Island has been operational since January 2019.
Despite ongoing trials and active collaboration among ministries and sectors, the report indicates that losses continue to accumulate for the project.
Van Don Plans in limbo
The Van Don project, which includes high-profile investments from companies like FLC and Sun Group, has encountered significant delays, likely more complicated than those faced by Phu Quoc.
Permitted by the country’s Politburo to be implemented since 2013, the project still cannot be realized even 10 years later.
A report by the People’s Committee of Quang Ninh province highlights that the project’s implementation has been hindered by multiple planning adjustments and the project’s key location with complex terrain.
The Ministry of Finance’s assessment indicates that the Van Don casino’s investment area faces challenging socio-economic conditions and lacks complete and synchronized technical infrastructure. Therefore, careful consideration is needed when attracting and securing investors to ensure the project’s successful implementation.
A Vietnamese gaming expert attributes these setbacks to various factors, including complications with land use rights. “The Van Don Casino project is facing issues related to land use rights and land clearance,” the expert notes. “The project does not meet the conditions for auctioning land use rights according to the Land Law.”
The expert further explains that delays are worsened by the underwhelming performance of the Corona Casino among locals and the ongoing impact of the COVID-19 pandemic. “The difficulties faced by the Corona Casino and the overall effects of the pandemic are contributing to Sun Group’s hesitation to advance with the Van Don Casino project,” he adds.
Previous reports reveal that Sun Group holds the license to operate casinos in Van Don. In 2020, the group had already invested VND7.5 trillion ($322 million) in Van Don International Airport, which opened in December 2018, and VND12 trillion into the 60km Ha Long-Van Don Expressway.
Van Don International Airport, a crucial component of the project, has struggled to attract significant traffic. The Vietnamese gaming expert comments, “The airport is not performing as expected. It’s been quite quiet, which reflects broader issues with the region’s development.”
Furthermore, the situation has been further complicated by a high-profile corruption case involving Trinh Van Quyet, a prominent Vietnamese property and aviation tycoon. In 2017, Quyet publicly showcased his interest in building resorts featuring casinos in Van Don. Now, he has been charged with fraud and stock market manipulation.
Quyet’s FLC empire, which includes luxury resorts, golf courses, and the budget airline Bamboo Airways, had been a significant force in Vietnam’s real estate and aviation sectors.
Still some positive outlook
Another Vietnamese gaming expert, who also didn’t want to be identified shared a more optimistic perspective on the Phu Quoc and Van Don projects when speaking to AGB, emphasizing that these projects’ future is not entirely negative.
The expert pointed out that the region’s tourism industry is recovering and expanding post-COVID. This growth could benefit the integrated resort sector in the long run, providing a more favorable environment for future success.
He also highlighted Vietnam’s economic resilience, noting that the country is an economic powerhouse that does not enter into projects with the intention of failure. He cited examples of Vietnam’s robust economic growth and strategic investments as indicators of potential success.
For instance, Vietnam surpassed its 2023 tourist arrival target. Initially aiming for 8 million international visitors, the goal was revised upward to 12.5–13 million in October. By the end of the year, Vietnam exceeded this revised target, welcoming over 12.59 million foreign tourists. This strong performance continued into 2024, with Vietnam welcoming 8.832 million foreign tourists in the first six months, marking a 58.4 percent increase year-on-year.
Furthermore, the exert observed that regional casino revenues are on the rise. He specifically referenced the strength of the Philippines’ casino industry as an example of how growth can be achieved despite current challenges.
As summer vacations begin and the Olympic Games Paris 2024 draw near, SJM Resorts, S.A. (SJM) is launching its “SAMmer Olympic Passion” campaign.
From today until August 18th, Grand Lisboa Palace Resort Macau and Ponte 16 Resort will host a range of events, including interactive games, performances, and special gastronomic offerings, to celebrate the Olympic spirit.
These events aim to engage both locals and tourists, fueling the city’s excitement for the games. During the event, visitors can try their hand at archery and fencing in the sports game zone, located at the shopping mall on Level 1 of Grand Lisboa Palace.
Guests who display outstanding game performance will also have the chance to win prizes themed around SJM’s mascot, “Sam the Rooster.” To participate, guests can visit the concierge desk with their SJM Supreme Card, same-day receipt, valid room card, GLP Art Workshop ticket, or winning “SJM Tear off Card,” or follow any two of SJM’s official social media accounts.
By doing so, they can obtain two free opportunities to participate in “Archery experience: Perfect Shots,” “Fencing experience: In one hit,” “Claw Machine,” “Card Machine”or “Photo booth.”
Limited spots and prizes are available on a first-come, first-served basis while supplies last. From now until 18 August, the outdoor plaza at Ponte 16 will feature live band performances, balloon art and magic shows on weekends throughout the event.
“Sam the Rooster,” dressed in summer-themed and various Olympic sports outfits, will meet with the public and distribute “SJM Tear off Card” and candies, generating an Olympic carnival atmosphere for all to enjoy.
To promote the upcoming “SJM 10th Asian Wushu Championships 2024” in September, SJM will join forces with the Wushu General Association of Macau to present a spectacular martial arts collective performance at the outdoor plaza on 10 August.
Moreover, during the Olympics from 26 July to 11 August, several SJM hotels’ dining venues will broadcast the Olympic events during the following hours, allowing guests to savour gastronomic delights and thrilling live competitions while witnessing the birth of Olympic medalists.
iGATE, a high-end white label software provider that specialises in developing casino & sportsbook brands revealed its boutique solutions at iGB Live! Amsterdam 2024 with resounding success.
The prestigious industry conference, which brought together 12,000+ iGaming affiliates, operators and providers, concluded after an eventful few days. The iGATE team demonstrated its high-end white-label solutions and expanded its network of key partners.
The company’s stand at the event showcased its B2B iGaming solutions to guests and shared key insights into launching and maintaining online casinos. The team revealed its ready-to-go casino and sportsbook integrations, outlined the company’s boutique philosophy and discussed the comprehensive managed services clients can access.
iGATE’s leadership team, John Foster, Managing Director, Styliana Kalogreadou, Head of B2B, and Serge Pshenichnykh, Regional Head of Sales, met with many guests and were proud to highlight the company’s growth and outline its ambitious plans going forward.
John Foster, Managing Director of iGATE, commented, “iGB Live! Amsterdam was an exciting opportunity for iGATE to take advantage of the positive momentum after ICE London and increase our presence in the industry. We met our existing partners and a host of potential future partners to showcase our product offerings and allow us to strengthen our value propositions to become the top-choice premier white-label solutions company.”
What sets iGATE apart is its boutique approach, in which the team utilizes its top-notch art and design expertise to tailor its solutions depending on the client’s needs. The company also shared successful case studies where it implemented its acquisition strategies, customer management systems and integrated payment solutions.
iGATE’s participation at iGB Live! Amsterdam marks the beginning of the company’s ambitious growth plans, which include networking and signing key strategic partnerships. The team’s schedules are packed as they aim to end 2024 by attending significant events, such as the Sigma East Europe Summit and SBC Summit Lisbon.
