Asia
Grant Bowie Quits as MGM China CEO
Grant Bowie has submitted his resignation as Chief Executive Officer MGM China. He will leave his position on May 31, 2020.
According to MGM China, Bowie is not extending his contract and opting for personal retirement plans.
Bowie will continue as an advisor of the company until December 31, 2022.
‘Mr. Bowie has confirmed that he has no disagreement with the Board and there are no other matters in relation to his retirement as the Chief Executive Officer of the Company which need to be brought to the attention of the shareholders of the Company,’ the filing indicated.
‘Mr. Bowie expressed his gratitude to the Board, particularly Mr. Bill Hornbuckle and Ms. Pansy Ho, the Company and MGM Resorts for this opportunity and their support over the years.’
Net revenue generated by MGM China has dropped 63 per cent year-on-year in the first quarter of this year, reaching about US$272 million (MOP2.1 billion), the company’s latest financial report indicated.
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Asia
Delasport Signs a Sports Deal with Philippines’ Leading Regulated Operator OKBET
Award-winning iGaming supplier in regulated markets Delasport has just signed a sports deal with Philippines’s number 1 operator OKBET.
The leading software developer will provide sports-services to their new partner, enhancing the experience of sports bettors in the Philippines even further.
“We’re proud to supply our services to such a strong partner as OKBET, and to an exciting and steadily growing market as the Philippines”, Delasport’s CEO Oren Cohen Shwartz comments on the agreement.
Regulated Philippines is marking a stable 5% year-to-year growth with the number of users expected to reach almost 6 million by 2029.
This is yet another deal for Delasport, with the global supplier’s expansion in regulated markets happening at full force.
Same goes for OKBET who have been holding the number one operator spot in iGaming in the Philippines for a long time now.
“I’m excited that OKBET and Delasports are joining forces to redefine the landscape of online sports gaming in the Philippines”, OKBET’s COO Wayne Thong also comments on the deal. “This partnership combines OKBET’s local market expertise with Delasports’ global industry leadership, creating new opportunities for innovation and customer satisfaction. OKBET and Delasports share a common vision for the future: a vibrant and dynamic platform that caters to the diverse interests of sports enthusiasts. By combining cutting-edge technology with a deep understanding of user preferences, this collaboration aims to set new standards for the industry.”
The post Delasport Signs a Sports Deal with Philippines’ Leading Regulated Operator OKBET appeared first on European Gaming Industry News.
Asia
Uzbekistan Legalises Online Betting and Lotteries
President of Uzbekistan Shavkat Mirziyoyev has signed a decree on April 19 titled “On Measures to Improve the Regulation of the Organization and Conduct of Lotteries and Risk-Based Games in the Republic of Uzbekistan”. The document abolishes the ban starting from January 1, 2025, and introduces a legal framework for the organisation of risk-based games online and betting activities.
The issue of legalising betting activities has been a long-standing topic in Uzbekistan. In December 2019, the president signed a decree to legalise bookmakers, but this decision was revised in April 2022. In April 2023, the head of state instructed the development of a regulatory framework for betting activities.
The National Agency for Advanced Projects (NAAP), the authorised state body for regulating and licensing activities in this sector, provided insights on the necessity of introducing state regulation in the gambling sector in Uzbekistan. The agency emphasised the need to prevent illegal gambling businesses, protect players’ rights and generate additional income for the state budget.
The president’s decree aims to introduce advanced foreign experience and modern technologies in regulating the organisation of risk-based games and lotteries to increase investment attractiveness, tourist potential and attract additional funds to the country.
The measures outlined in the decree include the creation of legal foundations for the legalisation of activities related to risk-based games online, betting activities, and lotteries, implementation of mechanisms to protect citizens’ rights and interests, prevention of gambling addiction and the generation of additional state budget revenue.
Starting from January 1, 2025, a taxation system will be introduced for license holders, where organisers of online games, betting activities and lotteries will pay a turnover tax. This system aims to prevent the concealment of taxable revenue and is expected to generate additional tax revenues for the state budget.
Overall, the implementation of the decree is intended to establish a reliable foundation for the legal regulation of activities related to organising risk-based games online, betting activities and lotteries in Uzbekistan, protect citizens’ interests, combat gambling addiction and provide additional sources of income for the state budget.
The post Uzbekistan Legalises Online Betting and Lotteries appeared first on European Gaming Industry News.
Asia
Indonesia Establishes Task Force to Combat Online Gambling
Indonesia’s Ministry of Communications and Information Technology (Kominfo) has revealed plans to establish a task force to combat online gambling.
In a statement, Kominfo said the task force would comprise representatives of multiple government agencies including the Financial Services Authority (OJK), Financial Transaction Reports and Analysis Centre (PPATK) and the police.
It will also work with Interpol to combat cross-border cases given the government’s lack of past success in blocking foreign operators.
“Kominfo will oversee the digital space, OJK will manage accounts and PPATK will handle fund flows, and the police will carry out arrest and investigation duties,” said Usman Kansong, the Ministry’s Information and Public Communications Director.
Minister Budi Arie said: “The Ministry has also issued a warning to all social media platforms, cellular operators and internet service providers not to facilitate any form of online gambling promotion. We have done everything within the authority of Kominfo.
“We from the Ministry of Communication and Information are fully determined. At the beginning of the week I gathered all our teams at Kominfo to work together to eradicate online gambling.”
The post Indonesia Establishes Task Force to Combat Online Gambling appeared first on European Gaming Industry News.
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