Good Morning. Earlier this month, we were asked why cryptocurrency hasn’t taken off in the online gambling industry as much as it should have, given its ability to facilitate lightning-fast, cross-border transactions with a certain level of anonymity. In today’s deep dive, we asked two industry observers why this is the case and what is being done about it.
What you need to know
- Summit Ascent, posting a 26% gain in 2021 revenue, said it was postponing the development of Phase 2 of Tigre de Cristal in Russia due to economic uncertainties.
- Imperial Pacific was given a two-month stay on a hearing on whether to revoke its casino license, to the frustration of Saipan’s regulator which says it has been given enough time to respond.
- Star Entertainment CEO Matt Bekier was said to have been in “a sulk” during a meeting with consultants KPMG that accused the company of failing to tackle money laundering.
- SkyCity’s Auckland Casino has reportedly been identified as having a number of “failures” in addressing gambling harm, despite earlier warnings to rectify the issues.
On the radar
- India’s spending on rummy, fantasy sports increases 26% in 2021.
- Macau govt considering extending three-year satellite casino grace period.
What the papers say
- Malaysian Communications Minister proposes Bitcoin become legal tender.
- Mobile Premier League launches Great Indian Gaming League.
Cryptocurrency is, in theory, a perfect solution for the online gambling industry – offering low-cost, lightning-fast transactions across any border. In reality, lagging regulation and adoption by the wider financial community has made it nearly impossible for an operator to embrace this technology to its fullest potential, say industry experts.
Originating in Southeast Asia, Pok Deng is a popular table game, which is spreading to other parts of Asia. SA Gaming, as the leading platform in the region, is adding this game into the lobby, hoping to introduce it to players around the world.
Revolving around the annual theme, “The Gaming Beat,” BBIN is returning to ICE 2022 and looking forward to a reunion with the industry. In 2022, BBIN launched its first charitable campaign “The Future You’d Love” via its TGB Charity to collect the public’s thoughts and ideas about the future.
- Pragmatic Play to create dedicated Blackjack studio for 888casino.
- Soft2Bet signs content deal with Pariplay, Wizard Games.
- 1XBet expands in Chile with football deal.