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Tencent-backed VSPN Bags $60M in Series B+ Round

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Total esports solutions provider Versus Programming Network (VSPN) has said that it has closed US$60 million in a series B+ funding round from Prospect Avenue Capital, Guotai Junan International and the Nan Fung Group.

With the fresh capital, the esports firm said it will develop its esports production technology, deepen the layout of esports IP trends and operations, create new esports products and content and expand its overseas esports services.

The latest investment comes three months after the company secured US$100 million in a series B funding round led by Tencent, with participation from Tiantu Capital, Susquehanna International Group and Kuaishou.

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In 2016, VSPN closed its series A funding round led by Focus Media Network, Sequoia Capital China and China Media Capital.

“The esports industry is through with its nascent phase and is entering a new era. In this coming year, we at VSPN look forward to showcasing diversified esports products and content to more business partners and fans throughout the industry,” Dino Ying, founder and CEO of VSPN, said.

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Wazdan secures Philippines market entry with SG8 partnership

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Wazdan, the gain-focused developer behind some of the world’s most rewarding casino gaming experiences, has entered the Filipino market after signing with SG8, a leading operator in the country.

A total of 46 Wazdan games will be made available to SG8 players and those across the Philippines for the very first time, including favourites 9 Burning Dragons, 9 Burning Stars™ and a host of the 9 Coins™ series such as 9 Coins™ Extremely Light, 9 Coins™ 1000 Edition and 9 Coins™ Grand Platinum Edition.

A renowned operator in the Philippines since 2006, SG8 is PAGCOR licensed and has quickly emerged as a player-favourite within Southeast Asia due to its diverse slot, live dealer and sportsbook offering, set to be enriched by Wazdan’s innovative iGaming content.

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The Philippines marks the latest market entry for Wazdan, further establishing its presence across Asia following the landmark deal. More partnerships in the country are expected to be announced in due course.

Radka Bacheva, Head of Sales at Wazdan, said: “The Philippines boasts an incredible amount of iGaming potential and so we are delighted to enter the market with SG8, a leading player within the country.

“We’re bringing a range of our top-performing titles to its platforms and are eager to see how Filipino players react to our innovative mechanics. We are in no doubt this is the beginning of a flourishing collaboration.”

Heng Chin Sheng, CEO at SG8, said: “It’s an honour to welcome Wazdan to the Filipino market for the first time as part of this deal – we’ve seen the reception to its innovative slots across the world and are delighted to bring them to our players.”

“Leading titles such as 9 Burning Dragons and 9 Burning Stars™ are just a few of the 46 Wazdan titles that we are sure our players will embrace, and we look forward to seeing the results!”

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The post Wazdan secures Philippines market entry with SG8 partnership appeared first on European Gaming Industry News.

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Thailand Considers Limiting Gambling Areas to 5% of Total Project Space

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The Thai government is exploring the possibility of restricting gambling areas within entertainment complexes to no more than 5% of the total project space. This proposal was revealed by Deputy Finance Minister Julapun Amornvivat, who also chairs the House committee responsible for evaluating the potential establishment of casino resorts in the country.

Amornvivat noted that the allocation of space for gaming activities within these entertainment complexes would be determined based on input from various governmental entities involved in a project.

Last month, Thailand’s cabinet approved a report from the National Assembly committee that examined the feasibility of introducing casino resorts in the country. The Ministry of Finance was tasked with conducting a 30-day study to assess the viability of implementing such a policy.

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Each proposed venue would require a minimum investment of THB100 billion ($2.75 billion), according to the committee report. Amornvivat recently requested a two-week extension for the study period to further evaluate the matter in collaboration with 16 other government agencies.

The special House committee’s study focused on three main areas. First, it examined the potential impacts of introducing entertainment complexes with casinos on various aspects of Thai society, including economics, politics, social dynamics and the environment.

Second, the committee analysed the business framework of integrated entertainment venues, exploring revenue generation mechanisms such as taxes, fees and licensing structures. It recommended the implementation of specific casino taxes and the establishment of a fund aimed at addressing the negative effects of gambling activities.

Last, the report highlighted the importance of conducting a comprehensive review of the legal framework governing entertainment venues and gambling laws in Thailand. This effort aims to update existing legislation or develop new laws that align with the evolving societal landscape.

The post Thailand Considers Limiting Gambling Areas to 5% of Total Project Space appeared first on European Gaming Industry News.

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Ainsworth Marks Milestone with Significant Installs at Premier South Korean Resorts

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Ainsworth announced a remarkable achievement in expanding its footprint in Asia with significant slot machine installations at South Korea’s leading gaming destinations, Inspire Entertainment Resort and Kangwon Land Resort.

At Inspire Entertainment Resort, guests can now enjoy Ainsworth’s A-Star cabinet in both 27” Dual and 43” Curve screen, with top performing brands Treasure Spirits and Cash Stacks. At Kangwon Land Resort, with an extensive installation of thirty (30) A-Star slots, visitors have the opportunity to not only experience Treasure Spirits but also Ainsworth’s top legacy brand Quad Shot.

“This is a significant milestone for Ainsworth as we continue to expand our presence in the Asian market, and we’re honoured to partner with such esteemed resorts as Inspire Entertainment Resort and Kangwon Land,” said Troy Primmer, President – APAC at Ainsworth.

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The post Ainsworth Marks Milestone with Significant Installs at Premier South Korean Resorts appeared first on European Gaming Industry News.

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