Asia

MGM Resorts International Looking to Open New Venues in The Asian Market

Published

2 years ago

November 28, 2022

MGM Resorts International is an American hospitality and entertainment corporation that operates resorts in Las Vegas, New Jersey, Maryland, Massachusetts, and Mississippi. Their resorts include The MGM Grand, Bellagio, Park MGM, and Mandalay Bay.

MGM Resorts’ History

The history of the corporation can be traced back to 1969, when airline and casino magnate Kirk Kerkorian purchased a majority share in the Metro-Goldwyn-Mayer (MGM) picture studio. This event is considered to be the beginning of the company.

Grand Name Company, the precursor to what is now known as MGM Resorts International, was established in 1986 by Kirk Kerkorian as a wholly owned subsidiary of Tracinda Corporation. It was rebranded as MGM Grand, Inc. in 1987. After purchasing Mirage Resorts in the year 2000, the corporation changed its name to MGM Mirage.

Despite the fact that the majority of the company’s resorts are already in operation in the United States, the corporation has expressed a strong desire to expand into Asia, with China, Japan, and Singapore being its primary areas of focus.

European Gaming Congress 2024 (Warsaw, Poland)

MGM Resorts in Singapore

The establishment of a venue in Malaysia might be considered a significant milestone for MGM Resorts International. It has been confirmed by Bloomberg that the firm has already spoken with the Malaysian Lim family about the possibility of either taking over their Genting Singapore business or investing in the company. A consensus has not yet been not reached, but it seems probable that MGM will continue its pursuit of the firm in the future.

Singapore’s city state has just two casino operators, Genting being one of them. Sentosa, an island off Singapore’s southern coast, is home to the Resorts World Sentosa complex. According to a recent review by www.casinosnavi.com, the resort has more than 550 gaming tables and 2,400 slot machines, and other electronic games. Theme parks, aquariums, water parks, restaurants, and shopping round out the list of things to do at Universal Studios Singapore.

In addition, Genting Singapore was one of the few businesses owned by the Genting group that remained profitable throughout most of the COVID-19 pandemic. In the first quarter of 2022, Genting Singapore reported a 13 percent year-on-year increase in revenues to $225 million and a 17 percent increase in net profit to $29 million.

It’s clear that a potential MGM takeover of the Genting Singapore presence would further strengthen the US casino giant in the Asian market. Not only that they would take over a profitable business with lots of potential for expansion, but they will penetrate another market that’s not accessible to them at the moment. Should an agreement be reached, MGM will become a major player in the Asian market after adding Singapore to their portfolio.

MGM Resorts in Japan

MGM Resorts International also intends to construct a resort in Osaka, Japan, with a price tag of ten billion dollars. The city and prefecture of Osaka have decided to work with MGM, which has formed a partnership with the Japanese financial services giant ORIX. This will allow MGM to operate an integrated resort in the area.

Since Las Vegas Sands Corp., Wynn Resorts Ltd., and other Asian gambling businesses withdrew from developments in Osaka, only the MGM-Orix joint venture submitted a bid to the region’s RFP process for establishing a casino.

This is MGM’s first foray into the Japanese casinos business, and they hope it will be just the beginning. In a statement, MGM Resorts CEO and President Bill Hornbuckle said that “We couldn’t be more excited for the opportunity to help enhance and grow Osaka’s reputation as a world-class destination and gateway for the world to the wonders and rich history of Japan.”

MGM Resorts in China

MGM Macau and MGM Cotai are the two locations in China where the MGM brand is active. The MGM Macau was the first business that the corporation had in China, the second one being the MGM Cotai casino resort which officially opened its doors on February 13th, 2018.

1,390 rooms and suites make up the Cotai hotel. There is a 2,000-seat MGM Theater in the hotel as well. More than 2,000 different plant species are housed at Nature’s Art, the world’s biggest art garden. Among those species are many that had been thought to be extinct.

Moreover, the opening of MGM Shanghai looks to be part of MGM’s strategy to increase its presence in the country. A hotel management agreement with Shanghai West Bund Development has been signed by Diaoyutai MGM Hospitality, a 2007 joint venture between MGM Resorts International and Diaoyutai State Guesthouse. This agreement will see Diaoyutai MGM Hospitality open its first MGM-branded hotel in Shanghai.

MGM Shanghai West Bund will include 161 guest rooms and 58 suites, as well as a range of food and beverage, entertainment, and other services, according to information supplied to the press. The hotel will provide a variety of Las Vegas-inspired entertainment activities, such as live performances by prominent artists and art exhibits, in an effort to attract wealthy tourists and residents alike.

Mr. Bill Hornbuckle, CEO and President of MGM Resorts, stated, “We’re honored that the MGM brand and our China joint venture, Diaoyutai MGM Hospitality, were selected by West Bund Group to operate this premium property in such an iconic zone.”

Final Thoughts

Already with a strong presence in the major Asian markets, MGM could strengthen its presence through a potential takeover in Singapore. Even though an agreement is far from being reached, the initial talks bring a lot of promise for the region.

It’s certainly an interesting development for the resort industry in Asia and only time will tell if the negotiations will come to a positive result. In the meantime, tourists can rest assured that the resort era is far from coming to an end.

Asia

Former Thai Police Chief Torsak Faces Investigation for Bribery

Published

1 week ago

December 18, 2024

Niji Narayan

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Thailand’s National Anti-Corruption Commission (NACC) has initiated an investigation into former Royal Thai Police commissioner-general Pol General Torsak Sukvimol and seven others for alleged bribery linked to illegal gambling operations.

According to Thai media, this decision follows accusations that Torsak demanded money and assets from 18 gambling websites and other illicit businesses during his tenure as national police chief from October 2023 to September 2024.

NACC secretary-general Sarote Phuengramphan stated that sufficient evidence, including witness testimonies, has been gathered to justify the investigation, with the commission overseeing the inquiry.

In addition, the NACC is examining separate allegations against former deputy national police chief Pol General Surachate Hakparn, who is accused of accepting bribes from gambling sites and involvement in money laundering. Sarote indicated that more information is needed before proceeding with this case.

Torsak had been suspended in March due to conflicts with Surachate but returned to duty in June until his replacement by Pol General Kitrat Phanphet on October 1. Surachate, known as “Big Joke,” was removed from his position by royal command.

The post Former Thai Police Chief Torsak Faces Investigation for Bribery appeared first on European Gaming Industry News.

Asia

DigiPlus Celebrates Double Victory at the Asia Pacific Enterprise Awards

Published

2 weeks ago

December 17, 2024

Niji Narayan

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DigiPlus Interactive, the brand behind popular gaming platforms BingoPlus, ArenaPlus and GameZone, announced its double recognition at the Asia Pacific Enterprise Awards (APEA) 2024. DigiPlus was honoured with the Corporate Excellence Award and the Fast Enterprise Award, reinforcing its role as a leader in digital entertainment.

The awards ceremony, held on December 11 at Hilton Manila, celebrated businesses and individuals who have demonstrated exceptional achievements, leadership and innovation. The Corporate Excellence Award recognises DigiPlus’ commitment to sustainable growth, innovative leadership and exemplary business practices. The Fast Enterprise Award acknowledges the company’s rapid growth and adaptability in an ever-evolving and competitive market.

“DigiPlus was born from a vision to redefine digital entertainment in the Philippines. This recognition is a celebration of the incredible passion, ingenuity, and dedication of our team. It is also a tribute to our stakeholders, whose trust empowers us, and the communities we serve, who inspire us to continue pushing boundaries and elevating entertainment experiences for all,” said Celeste Jovenir, VP of Investor Relations, Corporate Communications and Sustainability.

The post DigiPlus Celebrates Double Victory at the Asia Pacific Enterprise Awards appeared first on European Gaming Industry News.

Asia

Government support, medals, and global recognition define a landmark year for Indian esports and video gaming in 2024

Published

2 weeks ago

December 16, 2024

Wladimir P.

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Reading Time: 5 minutes

The Indian video gaming and esports industry witnessed exponential growth in 2024, breaking into the mainstream. According to the recently published ‘India Gaming Report,’ the Indian pure-play gaming industry is valued at INR 6,715 crore and is on track to grow at a CAGR of 24%, reaching INR 10,487 crore by 2026. With a staggering 13.85 crore gamers and an annual growth rate of 11.82% projected until 2026, the sector shows no signs of slowing down.

This year was marked by several historic milestones. India showcased its esports prowess on the global stage by securing a silver medal in Tekken 8 at the BRICS Esports Championship and a bronze medal in eFootball at the Asian Esports Games 2024. Adding to the excitement, the International Olympic Committee’s announcement of the Olympic Esports Games 2025 has opened new doors for India to achieve further international acclaim in esports.

Government and state support for the industry also saw remarkable growth. The Union Cabinet announced the establishment of the National Centre of Excellence for AVGC-XR in Mumbai, while the Ministry of Information and Broadcasting is backing the inaugural WAVES Esports Championships 2025. States like Bihar introduced esports tournaments in schools, and Meghalaya became the first Indian state to sponsor an esports team. Nagaland also joined the momentum by hosting its first esports tournament, reflecting the growing grassroots movement across the country.

In addition to government initiatives, one of the industry leaders driving this transformation was NODWIN Gaming, a leader in new-age youth entertainment, gaming, and esports whose initiatives elevated Indian gaming to new heights. The company’s flagship esports IP, the BGMI Masters Series, not only brought esports to national television for the third consecutive year but also facilitated the entry of high-profile brands like Garnier Men and Android into the Indian esports ecosystem.

NODWIN Gaming also created one of the nation’s biggest youth entertainment events of the year by hosting DreamHack India alongside Hyderabad Comic Con. Internationally, the company acquired leading European esports company Freaks 4U Gaming and Turkey-based esports firm Ninja Global, while also partnering with the Global Esports Federation. Domestically, NODWIN Gaming expanded its footprint by acquiring Trinity Gaming and Comic Con India and collaborating with JSW Sports, reinforcing its position at the heart of youth entertainment.

Akshat Rathee, Co-founder and Managing Director, NODWIN Gaming believes that in 2024, games became an integral part of the cultural zeitgeist, with creators and influencers amplifying their appeal among youth. The year witnessed significant strides in institutional support, with government recognition playing a pivotal role in legitimising esports as a sport.

“This rapid growth of gaming and esports has allowed NODWIN Gaming to evolve into a holistic youth-focused entertainment company. By focusing on curating entertainment platforms that go beyond esports, we have managed to build a comprehensive ecosystem that includes content production, event management, and community engagement, enabling us to connect with youth across multiple touchpoints. We believe that our philosophy of timeshare of mindshare has driven our strategy to reach audiences where they live, play, and engage, ensuring sustained growth and relevance,” he explains.

A significant highlight this year was the acknowledgment of the gaming industry by Prime Minister Shri Narendra Modi. For the first time ever, the PM met with leading Indian gamers like Animesh Agarwal (8Bit Thug), Naman Mathur (Mortal), and Payal Dhare (PayalGaming) to discuss the sector’s various aspects and its potential.

Creating even more history, S8UL Esports, India’s leading esports and gaming content organization, co-founded by Mortal and Animesh, completed a hat-trick of awards at the global Esports Awards, with Mortal also winning ‘Esports Content Creator of the Year.’ S8UL secured back-to-back victories at MOBIES 2024, with PayalGaming becoming the first Indian female to win ‘Streamer of the Year,’ further elevating India’s global esports reputation.

“2024 was a landmark year for S8UL, filled with milestones that cemented our position as leaders in global esports. In the past year, esports has solidified its position as a mainstream cultural phenomenon. The distinction between competitive esports and gaming became clearer, helping audiences and stakeholders better understand the ecosystem. At the same time, esports, traditional sports, and influencer-driven content began working more cohesively, creating synergies that enhanced fan experiences and industry growth. Brands now view esports not just as a sponsorship opportunity but as a platform for deep, authentic engagement with Gen Z and Millennials. This evolution underscores the industry’s maturity, making esports a dynamic and indispensable part of modern culture,” states Animesh Agarwal aka 8Bit Thug, Co-founder, S8UL Esports.

While India has long been a mobile-first gaming market, 2024 saw developments aimed at diversifying the landscape, with CyberPowerPC, a global leader in custom gaming computers, making its debut in the Indian market. Along with its groundbreaking configurator tool, the company introduced the EZPC module, allowing gamers to build PCs tailored to their favorite titles.

CyberPowerPC recently demonstrated its commitment to expanding the PC gaming community by awarding two premium gaming PCs, each valued at over INR 1 lakh, to two gamers at one of India’s largest gaming festivals in Mumbai. The initiative aimed to showcase the potential of custom gaming PCs while fulfilling the dreams of these gamers for an unparalleled gaming experience.

Vishal Parekh, Chief Operating Officer, CyberPowerPC India, notes “2024 has been a year of unprecedented growth for the Indian gaming and esports ecosystem. Gaming has evolved into a mainstream cultural phenomenon, fueled by India’s expanding digital economy and government initiatives like ‘Digital India,’ which have provided fertile ground for the industry’s growth. The focus on Tier 2 and Tier 3 cities has unlocked new demographics, driving demand for high-performance gaming rigs. At CyberPowerPC India, we have strengthened our engagement with the gaming community through partnerships with esports organizations, and our focus remains on delivering systems that combine high performance with affordability.”

Another notable development in the Indian gaming sector was 88 Pictures, the Indian animation and VFX studio behind Emmy-winning shows launching its game development division called 88 Games. With three premium titles in development, the studio aims to showcase India’s rich folklore and history to a global audience. This aligns with Prime Minister Modi’s Independence Day call for Indian developers to make their mark internationally, positioning 88 Games as a leader in India’s growing presence in the global gaming landscape.

“In 2024, we witnessed a surge of homegrown studios and games, including our own, highlighting the immense potential for the industry’s growth. The rapid growth of gaming and esports has transformed them into viable career paths. Awareness has increased, not just about being a gamer or creator but also about the wide array of roles in the industry. While the industry is currently mobile-centric, there’s a massive opportunity in PC and console gaming. At 88 Games, we aim to fill this gap by focusing on premium titles for these platforms, contributing to a more balanced and diverse gaming ecosystem,” says Milind D. Shinde, Founder & CEO of 88 Games.

As the year closes, it is evident that Indian esports and gaming have not only grown but transformed into a cultural and economic powerhouse. Given the rapid pace of growth, the industry is all set to shape the future of entertainment both at home and on the global stage.

The post Government support, medals, and global recognition define a landmark year for Indian esports and video gaming in 2024 appeared first on European Gaming Industry News.