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Galaxy Racer Appoints Upmanyu Misra As Managing Partner

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Galaxy Racer (GXR), the world’s largest esports, gaming and lifestyle organization are excited to announce the appointment of Upmanyu Misra as Managing Partner at Galaxy Racer. In his new role, his key responsibilities will be leading investments, M&A and financial strategy for the organization. 

Upmanyu is a highly reputed Venture Capitalist & Private Equity professional and has over 15 years experience, including his previous roles at Citi and JP Morgan. He has multi-sector experience with a special focus on AR/VR (Gaming, Mobile Applications, Consumer Devices), Autonomous Vehicles, FinTech and Blockchain Applications. 

Previously, he was an AI programmer for a PC-based Real Time Strategy game that achieved a worldwide revenue of over USD 1 billion. He holds an MBA from INSEAD and MS (Cum laude) in Computer Science from Lehigh University.

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Galaxy Racer has over 100 content creators globally across Middle East North Africa (MENA), North America, Southeast Asia (SEA), Europe and South Asia, amassing over 500 million followers and generating over 2.5 billion monthly views.

Galaxy Racer consists of multiple business arms including content IP and esports events production, dedicated content creators, esports teams, limited-edition merchandise and a music records label. 

Galaxy Racer is exploring its expansion into Blockchain Gaming and Web3’s ecosystem and will be making major acquisitions throughout 2022 and 2023.

Esports is projected to generate US$1.38 billion in global revenue this year according to market intelligence firm Newzoo in its 2022 Global Esports & Live Streaming Market Report. The figure represents an increase of 22% year-over-year when compared to 2021.

Paul Roy, Group CEO of Galaxy Racer said: “We are thrilled to have Upmanyu onboard as our Managing Partner. His immense wealth of experience as a VC and coupled with his keen interest in esports and gaming will play a pivotal role as we continue our aggressive growth globally. We look forward to welcoming him onboard and further elevating Galaxy Racer to greater heights. Welcome to our galaxy!”

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Upmanyu Misra, Managing Partner of Galaxy Racer said: “Esports and Blockchain are at the forefront of new age technology and will truly shape our next generation in unprecedented ways. Organizations worldwide need to change focus from targeting the user’s wallet to the user’s time. Paul’s vision to achieve that is absolutely astounding. Excited to come onboard and propel Galaxy Racer to the next level.”

Galaxy Racer recently hosted in Dubai, MENA’s largest esports tournament, GAMERS GALAXY: Dota 2 Invitational Series Dubai 2022, with the top international Dota 2 teams competing for AED1,000,000 in prize pool. It garnered over 2 million concurrent viewers and 38.5 million total hours watched across all platforms, with over 27 billion total media coverage viewership globally.

Galaxy Racer’s content creator smashed two Guinness World Records with the ‘Longest live stream (video) – 268 hours, 14 minutes, and 20 seconds’ and ‘Most viewers for a charity donation live stream on YouTube – 698,000 viewers’, while raising US$11 million for charity in collaboration with the UNHCR (United Nations High Commissioner for Refugees) and The Mohammed Bin Rashid Al Maktoum Global Initiatives.

Galaxy Racer is headquartered in Dubai and has recently expanded its offices in Los Angeles and key markets in Southeast Asia, including Philippines, Thailand, Indonesia and Malaysia.

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Delasport Signs a Sports Deal with Philippines’ Leading Regulated Operator OKBET

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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.

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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.

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Uzbekistan Legalises Online Betting and Lotteries

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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.

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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.

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Indonesia Establishes Task Force to Combat Online Gambling

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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.

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“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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