Asia
Macau legislators Urge Govt to Provide More Information About Changes on Casino Licence Criteria
Amid growing speculation that Macau will extend its current gaming concessions, a subcommittee of the Macau Legislative Assembly has issued a report with recommendations for the government.
The report suggests authorities should give more information about changes to the licence criteria and the extension of current gaming concessions. Members also suggested authorities should not rush to renew licences, arguing that this might result in “lower-quality” bids for the city’s gaming rights.
Macau’s current casino licences will expire in June 2022 but could be extended for up to five years under the city’s gaming laws.
In July, Macau’s secretary for economy and finance said a public consultation on gaming law will be held in the second half of this year. Now, the committee of legislators urged the government to announce an exact date “to avoid causing constant doubts in society”.
Last November, authorities insisted that the public tender to renew casino licences would not be delayed due to the Covid-19 pandemic and that new legislation would be ready in time for when licences expire in 2022.
However, that will depend on the length of the public consultation and the upcoming Legislative Assembly elections. Several industry experts believe the process will be delayed until after the elections so that new legislators will be in charge of amending Macau’s gaming law.
Powered by WPeMatico
Asia
Stake.com enjoys major growth surge during IPL after adding Indian rupees
Stake has witnessed unprecedented levels of sports betting activity during the 2024 Indian Premier League (IPL).
The operator customised its global sportsbook for cricket-crazy customers this season by enabling deposits in Indian rupees (INR) for the very first time.
The Indian rupee is the latest of six fiat currencies available on the flagship Stake.com sportsbook, as well as 20 cryptocurrencies.
The currency integration was launched in tandem with a generous promo, which saw punters paid out as winners, even if their team went on to lose the match, as long as they managed to hit a six during the first four overs.
The only stipulation was that bets must have been placed in INR with a maximum payout of up to US$25.
This occurred during 30 of 48 selected IPL matches, or 63%, leading to handsome rewards for punters who took advantage of the offer.
The bets would have been settled as losses on any other platform, but instead resulted in an extra US$30m of winnings for Stake customers.
The promotion also served as a savvy customer acquisition strategy. More than 80% of users to have redeemed the offer were new to Stake as first time depositors.
“We are constantly striving to improve our product and want to make Stake easily accessible to as many players as possible,” said Stake’s director of commercial Jarrod Febbraio.
“With more than US$100m wagered this season alone, the IPL is soaring in popularity, and so is Stake.
“We wanted to spice things up for the 2024 season, and this promotion was perfect for our customers who don’t like cricket, they love it,” he added.
The IPL is the most popular cricket league in the world. The current season ends on Sunday 26 May.
The post Stake.com enjoys major growth surge during IPL after adding Indian rupees appeared first on European Gaming Industry News.
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.
-
Latest News6 days ago
Games Global and AreaVegas Games unleash the mythical beast in Area Link™ Dragon
-
Alcohol and Gaming Commission of Ontario (AGCO)7 days ago
Soft2Bet strengthens integrity monitoring with IBIA membership in Ontario
-
Compliance Updates6 days ago
Spinomenal is now a registered provider in Peru
-
Africa6 days ago
3 Oaks Gaming to enter South Africa with Supabets
-
eSports6 days ago
Axlebolt and Epic Esports Events announce WINLINE EPIC Standoff 2: Brasil #2
-
Canada6 days ago
Casino Time Elevates Social Gaming in Ontario with Launch of iGaming Website
-
Latest News5 days ago
Paf Focuses on Young People with Loss Limit Change
-
Latest News6 days ago
BGaming donates to Brazilian art institute in support of creative children’s projects