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Galaxy Racer To Invest RM42 Million (US$10 Million) Into Malaysia’s Esports Ecosystem

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Galaxy Racer (GXR), founded in 2019 by Paul Roy, is the largest esports, gaming and lifestyle organization in the world, headquartered in Dubai, with over 100 content creators across Southeast Asia, the Middle East North Africa, South Asia and Europe, with over 500 million followers and over 2.5 billion monthly views, signed a Memorandum of Understanding (MoU) at the Expo 2020 Dubai, witnessed by Tan Sri Annuar Musa, the Minister of Communications and Multimedia Malaysia (KKMM) and Mahadhir Aziz, the CEO of Malaysia Digital Economy Corporation (MDEC).

Galaxy Racer is one of the participating companies in the Malaysia Digital Economy Week, which was launched on January 12th 2021, at the Expo 2020 Dubai by Malaysia’s Communications and Multimedia Minister, Tan Sri Annuar Musa.

Galaxy Racer has announced a projected investment of RM42 million (US$10 million) in Malaysia within the next five years and plans to organise more esports events and tournaments to facilitate and boost the country’s esports ecosystem.

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Galaxy Racer aims to boost the involvement of females in esports, adding that it had organised the ‘Girl Gamer Festival World Finals’ in Dubai, which was the first and only esports festival to celebrate women’s competitiveness in video games, and ‘Her Galaxy’, the first women’s esports tournament in Pakistan.

Galaxy Racer will be launching its Asia Pacific headquarters (APAC HQ) in Malaysia in 2022 and is looking to position Malaysia as its digital hub in the region. The APAC HQ will focus on six business verticals – content, esports teams, content creators, esports and gaming events, merchandising, a music label and an upcoming world-class visual effects (VFX) animation studio, positioning Galaxy Racer as a global content powerhouse and market leader in the digital content industry.

Galaxy Racer plans to be a catalyst by providing highly-skilled jobs and the opportunity for Malaysians to work in an international esports, gaming and lifestyle organization, which will contribute incremental revenue to the country via its intellectual properties in the digital content industry.

CEO of Malaysia Digital Economy Corporation (MDEC), Mahadhir Aziz, said: “As part of our mission to drive the digital economy with high-impact initiatives, MDEC is committed in growing the esports industry in Malaysia and together with industry leaders such as Galaxy Racer, I am sure we will be able to elevate the industry to greater heights. Their investment into Malaysia will contribute greatly into the esports industry.”

Founder and Group CEO of Galaxy Racer, Paul Roy, said: “Galaxy Racer believes in MDEC’s vision for Malaysia to become a high-value-added economy and a net exporter of home-grown technologies and digital solutions. We are excited to establish our APAC headquarters in Malaysia and we appreciate the support by MDEC and KKMM in facilitating foreign direct investments into Malaysia, with the

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MSC status application, ease of doing business and gaming-related industry grants. We look forward to creating a positive impact in the esports and digital economy and elevating the quality of the talent pool in Malaysia.”
The digital economy is becoming one of the biggest contributors to Malaysia’s gross domestic product (GDP), making up to 22.6% of the nation’s economy. It is expected to contribute as high as 25.5% by 2025, outperforming the traditional largest contributor to the nation’s GDP – oil and gas. Galaxy Racer believes that MDEC would also be the catalyst for the nation’s Fourth Industrial Revolution (IR 4.0).

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Asia

Genting Singapore Appoints Lee Shi Ruh as its New President and COO

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Genting Singapore chief financial officer (CFO) Lee Shi Ruh has been appointed president and chief operating officer (COO), filling a position that had been vacant for three years.

The role was last held by former president and COO Tan Hee Teck, who was promoted to chief executive officer in May 2022.

Lee has now stepped down as CFO, the group announced in a bourse filing on Friday (Aug 1). That role will be taken over by Ang Suat Ching, currently CFO of Resorts World Sentosa (RWS), an indirect wholly owned subsidiary of Genting Singapore. Ang will retain her role at RWS.

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These changes follow the retirement of Tan, who stepped down as CEO and chairman of RWS in May.

From Jun 1, Lim Kok Thay, executive chairman of the Genting Group, assumed the role of acting CEO, while Lee took on the position of CEO of RWS.

“These appointments reflect our commitment to leadership renewal as the group enters its next phase of growth,” said Lim.

He added that Lee “brings a proven track record of sound decision-making, strategic discipline, and a clear understanding of the group’s long-term priorities, which will be invaluable in her expanded role as president and COO”.

He also noted that Ang’s financial expertise will support the group’s long-term value creation.

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The post Genting Singapore Appoints Lee Shi Ruh as its New President and COO appeared first on European Gaming Industry News.

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Aquisitions/Mergers

Donaco International Shareholders Approve Acquisition by On Nut Road Limited

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Donaco International Limited (DNA), an ASX-listed company focused on leisure, entertainment and associated technology, announced that its shareholders have voted in favour of the proposed acquisition of 100% of the company’s shares by On Nut Road Limited (ONR) via a scheme of arrangement. Donaco International operates casino businesses in Southeast Asia.

The resolution to approve the Scheme was passed with significant support, with 98.11% of votes cast by Donaco shareholders in favour. Additionally, 77.50% of Donaco shareholders present and voting, either in person or by proxy, attorney, or corporate representative, also voted in favour of the Scheme. The voting results reflect strong shareholder backing for the proposed acquisition.

The Scheme remains subject to the approval of the Supreme Court of New South Wales at a hearing scheduled for Thursday, 7 August 2025. The Second Court Hearing will only occur if all of the remaining conditions precedent to the Scheme have been satisfied or waived. If the court approves the Scheme and all conditions are met, Donaco intends to lodge a copy of the court orders with ASIC on Friday, 8 August 2025, upon which the Scheme will become effective and DNA shares will be suspended from trading on the ASX. Pending final approvals, the implementation of the Scheme is expected to occur on Tuesday, 19 August 2025.

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The post Donaco International Shareholders Approve Acquisition by On Nut Road Limited appeared first on European Gaming Industry News.

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GK8 Announces Football Legend Michael Owen as its New Brand Ambassador

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GK8, Asia’s leading platform for interactive gaming and entertainment, has announced football legend Michael Owen as its new brand ambassador. With a reputation built on trust, security and a diverse range of gaming options, GK8 continues to expand its influence in the iGaming sector, and Owen’s partnership is set to bolster its position in the competitive industry.

Michael Owen, a former English football star known for his exceptional skills and quick pace on the field, brings his star power to the fast-growing brand. With years of success both on and off the pitch, Owen’s influence will help enhance GK8’s visibility across key international markets. The partnership marks a pivotal moment for the company, reflecting its ambition to continue expanding globally while maintaining its commitment to a high standard of user experience.

“It’s an honor to be working with such a dynamic and forward-thinking brand like GK8. Their dedication to creating a secure, engaging platform aligns perfectly with my values. I look forward to connecting with fans and players in Southeast Asia, sharing in the excitement and entertainment that GK8 offers,” said Michael Owen.

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Founded with a vision to bring top-tier gaming experiences to Asia, GK8 has rapidly grown into a major force in the interactive gaming industry. The platform is recognised for its advanced security measures, seamless user interface and wide selection of games, including sports, lotteries and multiplayer online options. GK8’s unique approach to customer service has helped them build a loyal global community, with users praising its responsive support team and fast transactions.

The post GK8 Announces Football Legend Michael Owen as its New Brand Ambassador appeared first on European Gaming Industry News.

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