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Caesars and Mohegan Face Delays in Korean IR Projects

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Caesars Entertainment Corp and Mohegan Gaming & Entertainment are facing significant delays in their Korean integrated resort projects due to the financing concerns caused by the COVID-19 pandemic.

According to South Korean news outlets, Caesars Korea – part of the expansive project called Midan City in Yeongjong Island – and Mohegan’s Inspire are having trouble securing the final capital needed to complete their projects.

The future of Caesars Korea has been in some doubt over the past year following the merger between Caesars Entertainment Corp and Eldorado Resorts, with Eldorado CEO Tom Reeg – now CEO of the merged Caesars entity – stating in June 2019 that the company’s international expansion opportunity would “have to be stupendous for us to be running in that direction.”

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The company subsequently stated in August 2019 that it was capping the amount of additional cash it was willing to directly invest into Caesars Korea at US$60 million – having already contributed US$80 million to the US$700 million project – with the remainder to be provided by outside financing. However, the company has spoken little publicly about its Korea project since the US$17.3 billion merger with Eldorado was completed in June of this year.

Mohegan Gaming CEO Mario Kontomerkos stated as recently as July that his company’s Inspire Korea project remained on track for a 2022 launch, adding that Mohegan remained fully committed to its international expansion efforts.

“The pandemic has shown us that diversification into the international arena is important for our ability to stand for those generations, and so the project in South Korea, called Inspire, remains on track for launch in 2022,” he said.

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Asia Pioneer Entertainment Holdings Limited appointed Maria Garcia to its Board of Directors

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Asia Pioneer Entertainment Holdings Limited is pleased to announce Ms. Maria Garcia was appointed as APE’s first female Director since the company’s listing on the Hong Kong Stock Exchange in 2017, with effect from 30 September 2024. She oversees the company’s growth and development in both the Macau and Southeast Asian markets. Prior to joining APE, Ms. Garcia spent over 17 years in public relations and event management, coordinating significant events in Macau, Hong Kong, and China for private, diplomatic, and governmental entities.

Ms. Garcia joined APE in 2006 as Sales Director of the Corporate Sales and Marketing Department, serving for six years before leaving to pursue various roles within the gaming sector and founding her own business. In 2020, she returned to APE as a Business Consultant and resumed her role as Sales Director for Macau and Southeast Asia in December 2022, where she continues to serve to this day.

With more than 36 years of work experience, nearly 20 of which have been in the gaming industry, Ms. Garcia’s achievements and professionalism are both significant and commendable.

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Mr. Herman Ng, Chief Executive Officer and Executive Director of APE, stated, “We are delighted to welcome Maria to the board. I have had the pleasure of working with her for over a decade. She is an industry expert with extensive knowledge, experience, and a wide network of connections. I am confident she will excel in this role.”

Speaking about her new position, Ms. Maria Garcia expressed her excitement, stating, “It is a true honor to join APE’s board as its first female director. The past few years have been challenging for the company, particularly due to the impact of the global pandemic. I am proud of our resilience and the progress we’ve made together during these times. In my new role, I am committed to fully utilizing my strengths to tackle future opportunities and challenges alongside APE as we work towards a bright and successful future.”

With her extensive experience and leadership, Ms. Garcia’s appointment underscores APE’s commitment to diversity and excellence in the gaming industry, paving the way for future growth and innovation.

The post Asia Pioneer Entertainment Holdings Limited appointed Maria Garcia to its Board of Directors appeared first on European Gaming Industry News.

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AFC signs MoU with IBIA to strengthen fight against match-fixing

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The Asian Football Confederation (AFC)’s resolve to protect and safeguard the beautiful game in Asia was further underlined today through the signing of a four-year Memorandum of Understanding (MoU) with the International Betting Integrity Association (IBIA).

Moving forward, the AFC and IBIA will work closely to detect irregular betting patterns and suspicious activities in football matches across Asia. IBIA, through its Monitoring and Alert Platform, will share real-time data on suspicious betting activity with the AFC, further enhancing the AFC’s abilities to promptly investigate potential match manipulation.

The AFC General Counsel and Director of Legal Affairs, Mr. Andrew Mercer said: “The AFC’s Vision and Mission has outlined our steadfast ambitions to uphold the highest ethical and sporting standards, and we are committed towards preserving our key tenets of fair play and integrity.

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“Leveraging on strong collaborations with the world’s leading organisations is imperative to our fight against match-fixing and this MoU with IBIA further strengthens our ability to ensure football in Asia remains clean for the benefit of our future generation of fans, players and all our valued stakeholders.”

Khalid Ali, CEO of IBIA, said: “Cooperation is a vital part of any effective integrity monitoring and investigatory framework and IBIA is delighted to be able to strengthen its relationship with the AFC through this important information sharing collaboration. For its part, IBIA will seek to safeguard the AFC ecosystem by utilising the monitoring of its members’ global customer account activity, which covers over $300bn in sports betting per annum.”

Mr. Mercer, added: “The AFC is committed to promoting integrity, ethics, and fair play in Asian football and we are pleased to work with IBIA as we strive to enhance our capabilities to monitor and address suspicious activities, ensuring that football in Asia is safeguarded from the threats of match manipulation.”

The MoU between the AFC and IBIA marks a significant step forward in the fight against match-fixing in Asian football with both organisations dedicated to creating a secure environment for the sport, fostering trust amongst fans, players and all stakeholders.

The post AFC signs MoU with IBIA to strengthen fight against match-fixing appeared first on European Gaming Industry News.

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Online Casino Platform 96M Partners with Formula 1

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Formula 1 and 96M, a premier Asian online casino platform, have officially announced a landmark partnership, bringing a new wave of excitement to fans throughout the region. This collaboration establishes 96M as the official betting partner of F1 in Asia, offering exclusive content, innovative betting opportunities and a forward-looking perspective on the future of both industries.

This partnership goes beyond the standard offerings. Fans can look forward to exclusive content tailor-made for the Asian market. Not only will fans gain a deeper understanding of the sport, but they’ll also be armed with the knowledge to make informed betting decisions.

96M will offer a thrilling array of exclusive betting options specifically designed for the Asian market. From daring pre-race predictions to in-play wagers that keep the adrenaline pumping, this partnership promises to elevate the viewing experience for fans of all levels.

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To celebrate this exciting collaboration, 96M is launching a special prediction promotion with a unique twist. Fans can participate by predicting race outcomes on the 96M platform via the one-of-a-kind F1 Airdrop. This innovative promotion promises a thrilling way for fans to engage with the sport and potentially score exclusive incentives.

This partnership is poised to redefine the landscape of both online betting and motorsport. By leveraging F1’s global reach and 96M’s expertise in the Asian market, the collaboration aims to set new standards for innovation, responsible gaming and audience engagement. With a shared commitment to delivering exceptional experiences, F1 and 96M are positioned to lead the industry forward.

The partnership officially commences ahead of the 2024 Singapore Grand Prix, marking the beginning of a thrilling new era for both F1 and 96M.

The post Online Casino Platform 96M Partners with Formula 1 appeared first on European Gaming Industry News.

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