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PH President Marcos dismisses need for new law to complement POGO Executive Order ban

The president of the Philippines, Ferdinand R. Marcos Jr., has announced that there is no necessity for new legislation to prohibit Philippine offshore gaming operators (POGOs) aside from his recent Executive Order.

Director exodus leaves Andrew Lo as LET Group’s sole board member

LET Group has lost another director, leaving Andrew Lo, the company’s Chairman and owner, as the only remaining member of its board—marking the second time in less than a year that Lo has been the sole director.

Aristocrat sells Plarium mobile gaming business to MTG for up to $820M

Australian gaming machine group Aristocrat Leisure Limited has announced the sale of its mobile gaming business, Plarium, to Modern Times Group (MTG) for a total enterprise value of up to $820 million. 

Endeavor announces acquisition of OpenBet and IMG Arena by OB Global Holdings

Endeavor Group Holdings, Inc. (NYSE: EDR), a global sports and entertainment company, has announced that it has agreed to sell OpenBet and IMG ARENA to OB Global Holdings LLC. The management buyout is backed by Ariel Emanuel and includes participation from OpenBet executives, including CEO Jordan Levin.

Maybank trims Bloomberry net revenue forecasts due to softness in GGR

Maybank has revised its net revenue forecasts for Bloomberry Resorts Corporation, lowering its projections by 12 percent for both FY24 and FY25, now estimating PHP51.0 billion ($870 million) and PHP60.3 billion ($1.03 billion), respectively.

Shin Hwa World to issue $25.7M bonds for business development

South Korean integrated resort operator Shin Hwa World announced on Monday that it plans to issue bonds valued at $25.7 million to raise long-term funds for its business development.

South Korea’s GKL sees net income drop by nearly half in 3Q24

Grand Korea Leisure (GKL), South Korea’s operator of foreigner-only casinos, reported a 49.5 percent year-on-year decline in its third-quarter 2024 net income, which fell to KRW6.04 billion ($4.3 million).

Paradise Co reports decline in 3Q24 earnings

Prominent South Korean operator of foreigner-only casinos Paradise Co has released its financial results for the third quarter of 2024, revealing significant declines compared to both the previous quarter and the same period last year.

Nearly 10K arrested in South Korean police crackdown on youth gambling

A recent report from South Korea's National Police Agency has revealed a troubling trend in underage online gambling, with 4,715 individuals under 19 years old identified as participants during a special enforcement operation from September 2023 to October 2024.

Philippines POGO ban leads to global spread of illegal betting: Research 

A recent study from IFHA Council, highlights the far-reaching consequences of the Philippines' POGO ban, particularly the exportation of the illegal betting crime model to new regions.