Online gaming platforms and solutions provider Comtrade Gaming has announced a partnership with games aggregator Alea.
This strategic collaboration will see Alea become the distributor of Comtrade Gaming’s games. As part of this partnership, Alea will leverage its extensive network and industry expertise to bring Comtrade Gaming’s portfolio of games to players across Latin America, Europe and Asia. With a focus on quality, innovation, and player satisfaction, both companies are committed to delivering a premium gaming experience that will captivate audiences.
“We are excited to partner with Comtrade Gaming and bring their exceptional new games to the market,” said Alexandre Tomic, Co-Founder “Comtrade Gaming’s reputation for excellence and innovation aligns perfectly with our commitment to providing players with top-tier gaming content. Together, we look forward to delivering an unparalleled gaming experience to audiences across different markets.”
Comtrade Gaming is renowned for its state-of-the-art gaming solutions, and as it now enters the content market, it aims to cater to a wide range of player preferences. By joining forces with Alea, Comtrade Gaming seeks to expand its reach and introduce its brand to new audiences across Latin America, Europe and Asia. This collaboration was announced during the BIS SiGMA Americas Summit held recently in Brazil.
“We are delighted to partner with Alea and bring our games to players through their extensive distribution network,” said Steven Valentine, Director of Comtrade Gaming. “Alea’s dedication to quality and customer satisfaction makes them the ideal partner for us to start our gaming content journey. We believe our games will have a big impact across many markets!”
Sports tourism is soaring from the Asian market for the UEFA Euro 2024, with a corresponding surge in sports betting activity.
According to the Chinese online travel agency giant Trip.com Group, bookings from Asian travelers heading to Germany increased by 125 percent.
This surge is spearheaded by Chinese tourists, showcasing a 132 percent increase as they flock to experience Europe’s rich football culture and vibrant city life.
Trip.com’s data underscores a robust trend in sports tourism, particularly from Asia, emphasizing an escalating enthusiasm for both football and international travel.
Fans from countries such as China, Japan, South Korea, and various Southeast Asian countries are planning to visit Germany this summer. Key cities like Frankfurt, Munich, and Cologne are top destinations, with Frankfurt leading in booking volumes.
This influx of visitors is expected to inject significant revenue into Germany’s local economy, particularly benefiting the hospitality and service sectors.
Meanwhile, just a few weeks ago, the authorities in Hong Kong issued a warning regarding a surge in illegal football betting ahead of the upcoming UEFA European Football Championship, which also shows the emerging demand for sports-related betting linked to the event.
Authorities cite the rapid expansion of online platforms, making it easier for punters to place wagers, drawing from their experience in 2022 during the FIFA World Cup in Qatar, where 6,781 individuals were arrested, including 607 cases of serious gambling – the highest numbers in five years. This suggests that major international sporting events have become a hub for both gamblers and bookmakers.
At the same time, Thailand’s Digital Economy and Society (MDES) Ministry has formed a dedicated task force to combat illegal online betting in anticipation of the upcoming Euro 2024.
As reported by local media outlet The Nation, this crackdown comes in response to research conducted by the University of the Thai Chamber of Commerce, revealing that approximately THB67 billion ($1.82 billion) is expected to be wagered on the tournament over its month-long span.
The practice of Macau gaming operators offering complimentary drinks and food, including popular items such as bubble tea, egg tarts, and the locally renowned Cha Siu (BBQ pork) rice, has sparked a viral trend on Chinese social media, resulting in significant publicity success. However, according to experts consulted by AGB, these free offerings do not align with a strategy focused on premium mass clientele.
A gaming expert from an international brokerage, who prefers not to be identified, indicates that “these free offerings aren’t for premium mass at all.” According to marketing norms, offering free hotel rooms is the main practice used by operators to please premium mass players.
Nevertheless, different gaming operators in Macau have joined this price war-like battle due to the intensifying competition in the market.
“This reinforces the market view about intense competition—everyone has to spend to attract foot traffic so that they might earn higher gross gaming revenue (GGR),” said the expert.
Earlier this year, MGM Macau started offering free popular bubble tea, Häagen-Dazs ice cream, and some bakery snacks in gaming areas at no cost. Wynn Macau also launched the famous Chinese liquor brand drink, Moutai ice cream, as well as Moutai latte for their members inside the casino.
Following these, Parisian started to offer croissant ice cream, and Ponte 16 also offers BBQ pork rice.
The marketing strategy has gained many internet reviews on social media, mostly tutorials for people to get free food in casinos, while those casino properties also received different exposure from that.
“These free offerings, however, are very effective in terms of promoting themselves through word-of-mouth,” notes the expert.
Surge of budget travelers
The term “Special Forces-style Tourism” referring to budget travelers, has recently gained popularity on China’s social media platforms. It denotes the current trend among young individuals to explore numerous attractions and indulge in a variety of delicious cuisines while minimizing both time and expenditure.
In this context, the rationale behind the popularity of Macau gaming operators’ free offerings becomes evident.
Zeng Zhonglu, gaming scholar, Macao Polytechnic University
Speaking to AGB, Zeng Zhonglu, from the Macao Polytechnic University’s Gaming Research Team, points out that budget travelers are not the target clients for Macau casinos. He notes that Macau’s limited space cannot rely solely on the quantity of visitors but rather on quality.
“High-end visitors are always the focus of Macau casinos, which is why Macau operators consistently build top-tier hotels.”
Zeng Zhonglu
Galaxy Entertainment Group recently announced the opening of a new Capella Hotel, scheduled for mid-2025. Situated in the prime Cotai area, Capella at Galaxy will be housed in a 17-story building, offering only 36 Sky Villas and 57 Suites.
Currently, Sands China is also investing some $1.4 billion in Londoner Phase 2 and the revamp of its Cotai Arena.
Zeng believes that the premium mass market holds significant importance for future growth and market share competition.
According to data published by the SAR authorities, the per-capita spending of visitors was MOP2,293 ($286) in the first quarter, representing a 40.3 percent increase from the same quarter of 2019. However, this figure reflects a 24.3 percent year-on-year decline.
Zeng interprets that due to China’s economic headwinds, conservative consumption has become a trend for some travelers. In this context, the return on investment (ROI) of gaming operators has been on a declining trend since the pandemic. However, fears of missing out on the market’s competition have spread widely among the operators.
Player reinvestment surges ahead of GGR growth
An investment memo issued this week by CLSA highlights that player rebates and other forms of player reinvestment in the Macau casino market have been growing faster quarter-on-quarter than the overall casino gross gaming revenue (GGR).
The report notes that total player rebates and reinvestment increased by 10 percent quarter-on-quarter in the first quarter of 2024, reaching $1.27 billion. This outpaced the GGR growth of 6 percent from the fourth quarter of 2023 to the first quarter of 2024.
Consequently, rebates accounted for 18 percent of the sector’s GGR in the first quarter of 2024, up from 17.3 percent in the previous quarter. Analysts anticipate intense competition ahead, as such investments are crucial for driving business.
In previous equity research from Goldman Sachs, it was mentioned that Galaxy Entertainment tripled its marketing team from 100 to 300 hosts right before Chinese New Year (CNY), as the operator aims to capture at least 20 percent of the GGR market share, up from 17.8 percent in 4Q23.
SJM has also expanded its marketing team from 12 to about 100 people recently, with plans to increase it further to 200, aligning with MGM and Wynn.
In the second quarter of the year, HSBC also quoted industry operators expressing that the industry’s competition is intensifying, but reiterated that it remains manageable. According to these operators, margins for the high-end mass segment could face more pressure from competition but be buffered by operating leverage as top lines continue to grow.
Pressure on local SMEs
Concerns over the Macau operators’ free offerings strategy have been escalating due to pressure from local small and medium enterprises (SMEs). Representatives from some local SMEs have flagged that the free snacks are eliminating the survival space of local small businesses.
AGB has learned that the Macau government has already entered into discussions with Macau concessionaires to eventually stop this practice. However, as of the publication of this article, those free drinks and snacks continue to be available in Macau’s casinos.
Global bookmaker 1xBet won the SiGMA Asia Awards 2024, beating out competitors in the Best Affiliate Program 2024 category. The award occurred on June 3 at a ceremony held as part of the SiGMA Asia 2024 international exhibition in Manila, Philippines. The victory resulted from voting on the award page and surveying an authoritative jury.
“Our team worked hard to receive this award, and we are glad that the professional community appreciates our efforts. Success at the SiGMA Asia Awards 2024 will be an excellent motivation for our team and an important signal for partners who want to make money with us. The Asian market is developing dynamically, and we want to be the initiator of qualitative changes in the region,” noted 1xBet representatives.
Today, the 1xPartners community unites more than 100,000 partners around the world and attracts more than 3,000,000 users to the 1xBet gaming platform every month.
The victory at the SiGMA Asia Awards 2024 was another significant achievement for 1xBet at the international level this year. The brand previously won the Affiliate Company of the Year at the International Gaming Awards 2024, title of Best Sportsbook Operator at the SiGMA Africa Awards 2024 and was recognized as Best Esport Operator 2024 in Latin America at the SiGMA Americas Awards 2024.
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About 1xBet
1xBet is a world-famous company with 17 years of experience in the betting and gambling industry. The brand’s customers can bet on thousands of sporting events or play popular games from top online casino providers, and the company’s website and app are available in 70 languages.
The official partners of 1xBet include FC Barcelona, Paris Saint-Germain, LOSC Lille, Italian Serie A and other popular sports brands and organizations. The company has repeatedly become a nominee and winner of prestigious professional awards, and the bookmaker’s platform is visited every month by more than 3 million players worldwide.
About SiGMA Asia Awards 2024
The SiGMA Asia Awards is organized by the international company SiGMA Group, a recognized authority in the field of iGaming, digital security and affiliate marketing. SiGMA Group operates in Europe, Asia, Africa and Latin America, and has great authority in each region. SiGMA Asia Awards is part of a system of awards that are given annually to the most successful representatives of the industry.
Online gaming fraud is on the rise in the iGaming industry. In Q2 2021, the suspected digital fraud attempt rate rose 393% year-over-year. Meanwhile, in Q1 2022, there was an 85% increase in fake account registrations compared to Q4 2021.
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The Chairperson of the Philippines House Ways and Means Committee, Albay Rep. Joey Salceda, commended the country’s regulator (PAGCOR) for collecting PHP5.1 billion ($87.1 million) in revenue from offshore gaming licensees (IGLs) in 2023, representing a 71 percent increase from the previous year.
According to the Philippine News Agency, Salceda said that under the leadership of Chairman Alejandro Tengco and President and CEO Amy Eisma, PAGCOR has been modernizing its policies and practices, leading to a significant improvement in revenue collection from the offshore gaming sector, now referred to as internet gaming licensees (IGLs) under PAGCOR’s revised regulations.
Citing PAGCOR data, Salceda noted that the agency’s collections increased from PHP2.99 billion ($51.0 million) in 2022 (from 158 licensees) to PHP5.1 billion ($87.1 million) in 2023 (from just 87 licensees).
This level is only surpassed by the PHP7.96 billion ($135.9 million) collected in 2019, the first full year of legalized offshore gaming operations, when PAGCOR had 298 licensees.
Salceda stated that PAGCOR’s approach has been to enforce the law and phase out the “bad and mediocre” licensees, rather than eliminating the entire industry.
He highlighted the reduction in the number of Chinese workers directly or indirectly hired by offshore gaming operators, from a peak of 200,000 to the current 8,500 direct Chinese hires, with Filipinos now accounting for 25,000 of the 100,000 total direct or indirect hires.
The lawmaker also praised PAGCOR’s role in apprehending allegedly illegal offshore gaming operations, noting that the agency was the first to take action in the case of the Bamban, Tarlac operation.
In conclusion, Salceda stated that PAGCOR has been effectively enforcing rules on offshore gaming operators, transforming the sector into an industry that creates more jobs for Filipinos and is no longer solely reliant on Chinese demand or labor.
New Silkroad Culturaltainment Limited has agreed to sell its stake in the MegaLuck casino on Jeju Island, South Korea for about $3.6 million, in order to mitigate its losses.
The Hong Kong listed company revealed the completion of a deal to sell a 72 percent stake in its subsidiary MegaLuck Company Limited on June 11th to Yu Cheng Kuo for a cash consideration of KRW5 billion ($3.6 million).
Yu currently holds a 7 percent stake in MegaLuck and is an independent third party in New Silkroad Culturaltainment.
The first installment of KRW0.5 billion ($363,172) will be made within 10 business days of signing the agreement, with a second installment of KRW 2.25 billion ($1.6 million) due by December 20th, 2024, and a third one of the same amount due by June 30th, 2025.
The agreed price follows a valuation by an independent valuer of the casino share stake of approximately KRW4.9 billion ($3.5 million).
New Silkroad Culturaltainment Limited is an investment holding company involved in integrated resorts and cultural tourism in South Korea, real estate in Australia, wine production in China, and property management services.
The company stated that the sale stems from a strategic shift to mitigate ongoing losses in the entertainment segment, with the proceeds, estimated at HK$26 million ($3.3 million), to be reinvested to enhance the group’s cash flow and working capital.
New Silkroad said it had incurred losses in its entertainment business of HK$283 million ($36,2 million), HK$12 million ($1.5 million) and HK$65 million ($8.3 million) in each of the past three financial years through December 31st, 2023.
‘This move is part of a broader strategy to realign resources towards more profitable ventures amidst a slow global economic recovery impacting tourism,’ the company added.
‘This transaction marks a significant restructuring effort by New Silkroad Culturaltainment, positioning the company for a more sustainable financial future.’
The completion of the sale is contingent upon several conditions, including the payment of the first installment, the registration of the share transfer, and the resignation of the vendor’s nominee director.
Jumbo Technology brought out an impressive array of new offerings at G2E Asia 2024, in Macau, including its Bao Ni Fa Grand and Color Game products. The debut also showcases shifting an online product to the land-based sphere. Take a look!
SkyCity Entertainment Group has informed that, now that Australian courts have approved the penalty set out by Australia’s financial watchdog regarding its Adelaide casino, the independent review into its casino license suitability can resume.
The group announced the news in a press release early on Wednesday, noting that the independent review commenced on Tuesday, June 11th.
The review is being led by Brian Martin, who was appointed in July of 2022 to carry out the process. This was then put on hold in February of 2023, pending the results of the Australian Transaction Reports and Analysis Center (AUSTRAC) civil penalty proceedings filed against the gaming operator.
The proceedings ultimately ended in an AU$67 million ($44.6 million) fine for SkyCity, relating to its Adelaide property, which Australian courts greenlit on June 7th.
The fine relates to historical violations of the Australian Anti-Money Laundering and Counter-Terrorism Financing Act 2006 and its rules spanning from December 7th, 2016, to December 14th, 2022.
SkyCity had already set aside some AU$73 million ($47.3 million) to handle the potential civil penalty.
The new independent review, ordered by the Acting South Australian Liquor and Gambling Commissioner for Consumer and Business Services, now aims to determine ‘the suitability of SkyCity Adelaide to continue to hold the SkyCity Adelaide casino license and the suitability of SkyCity to continue to be a close associate of SkyCity Adelaide’.
The review follows similar proceedings against Crown Resorts and The Star Entertainment Group.
Crown has already been found worthy of retaining its Sydney and Melbourne casino licenses and is pending the results of an inquiry into its Perth casino.
Good Morning. No need for “more teeth”. That’s what PAGCOR’s Chairman says about suggestions that the regulator should have police powers in order to go after bad actors in the offshore gaming space. Alejandro Tengco says the increase would only distract from its licensing and regulatory roles. Meanwhile, analysts are further raising their expectations for Macau’s FY25 GGR, now nearing $30 billion, amongst strong visitation and gaming figures. We also take a look at Jumbo’s new to market offerings, including a land-based product that started off online.
The head of the Philippines’ gaming regulator says that he doesn’t want the authority to have police powers, saying it could dilute its effectiveness in handing out licenses and overseeing licensees. Alejandro Tengco lauds efforts so far in taking down illegal operators but notes that an outright ban on offshore gaming won’t eliminate criminal activity by foreign actors, in particular those who are being sought by Chinese authorities.
Internet fraud is rising in the gambling and gaming industries. If platforms cannot prevent online gambling scams, they face AML compliance issues and reputational damage among partners and users. Thanks to Liveness, Sumsub’s advanced biometric check, companies can stop even the most sophisticated frauds, like hyper-realistic masks, look-alikes, and deep fakes.
