Asia
Stake.com enjoys major growth surge during IPL after adding Indian rupees
![stake.com-enjoys-major-growth-surge-during-ipl-after-adding-indian-rupees](https://recentslotreleases.com/wp-content/uploads/2024/05/135839-stake-com-enjoys-major-growth-surge-during-ipl-after-adding-indian-rupees.jpg)
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
Macau Gaming Growth to Slow Down Amid China’s Clampdown on Illegal Money Exchanges
![macau-gaming-growth-to-slow-down-amid-china’s-clampdown-on-illegal-money-exchanges](https://recentslotreleases.com/wp-content/uploads/2024/07/138246-macau-gaming-growth-to-slow-down-amid-chinas-clampdown-on-illegal-money-exchanges.jpg)
Macau’s gaming sector is likely to see a slowdown in EBITDA growth in June and July due to the mainland’s crackdown on illegal money exchange operations in Macau, according to a recent forecast by Morgan Stanley.
China’s Ministry of Public Security has launched a major campaign to target “money exchange gangs” providing large-scale cash exchange and loan sharking services to mainland Chinese gamblers in Macau. These illicit activities have been facilitating the flow of funds out of China, which authorities view as a threat to financial stability.
The crackdown has already yielded results, with police across China reporting successful operations that have uncovered millions in illegal exchange activities and the arrest of dozens of suspects. However, analysts warn that disrupting these unofficial currency exchange channels could potentially lead to a slowdown in mainland Chinese travel to Macau’s gaming industry.
Praveen K Choudhary, Gareth Leung and Stephen W Grambling of Morgan Stanley project that the second quarter will see the first negative quarter-on-quarter growth in both mass gross gaming revenue (GGR) and corporate EBITDA since the post-Covid-19 reopening. Mass GGR is expected to decline 2% quarter-on-quarter, reaching 113% of 2019 levels, while corporate EBITDA is forecast to decrease 7% quarter-on-quarter, reaching 80% of pre-pandemic levels.
The brokerage firm predicts that June and July will see a slowdown due to the money exchange crackdown, while weaker macroeconomic conditions, consumption, and retail sales in China could persist in the third quarter and further impact the Macau market.
The post Macau Gaming Growth to Slow Down Amid China’s Clampdown on Illegal Money Exchanges appeared first on European Gaming Industry News.
Asia
China Media Group, Esports World Cup and VSPO Sign Strategic Cooperation Agreement on National Institute for Esports Development
![china-media-group,-esports-world-cup-and-vspo-sign-strategic-cooperation-agreement-on-national-institute-for-esports-development](https://recentslotreleases.com/wp-content/uploads/2024/07/138248-china-media-group-esports-world-cup-and-vspo-sign-strategic-cooperation-agreement-on-national-institute-for-esports-development.jpg)
China Media Group, Esports World Cup Foundation and VSPO have signed a strategic cooperation agreement on Friday as the new China Media Group National Institute for Esports Development kicked off in Beijing.
China Media Group (CMG), which operates state television networks including CCTV, formally unveiled the new CMG National Institute for Esports Development on Friday. The Institute then signed a strategic cooperation agreement with the Esports World Cup Federation and VSPO during the establishment ceremony, vowing to jointly organise and participate in future esports events.
The establishment ceremony was attended by Shen Haixiong, vice minister of the Publicity Department of the Communist Party of China (CPC) Central Committee and president of CMG, Sun Shuo, CPC Secretary of Xicheng District and Xue Jijun, head of the institute, among other government officials.
The three organisations have been long-time advocates for the healthy development of the esports industry. VSPO already works with the Esports World Cup Foundation in organising the inaugural Esports World Cup, an eight-week mega event currently underway in Riyadh with a record-breaking prize pool of more than $60 million.
“It’s a huge honor to be a strategic partner with the Chinese Media Group and the Esports World Cup Foundation with the establishment of the CMG National Institute for Esports Development, which marks another key sign of Beijing’s support for esports development,” Chairman of VSPO, Asia’s biggest esports operator, Dino Ying said.
The post China Media Group, Esports World Cup and VSPO Sign Strategic Cooperation Agreement on National Institute for Esports Development appeared first on European Gaming Industry News.
Asia
QTech Games appoints Crystal Nadal to the role of Sales Director
![qtech-games-appoints-crystal-nadal-to-the-role-of-sales-director](https://recentslotreleases.com/wp-content/uploads/2024/07/138228-qtech-games-appoints-crystal-nadal-to-the-role-of-sales-director.png)
Top distributor for emerging markets secures well-known and respected sales leader to continue expansion of its global footprint
QTech Games, the leading distributor for all emerging markets, has appointed Crystal Nadal to the position of Sales Director.
Crystal is a well-known and respected operator in the industry, armed with a wealth of international expertise within business development and sales that is uniquely fine-tuned for Asia’s patchwork make-up of territories.
Crystal arrives at QTech Games after successful recent stints at Tom Horn Gaming, where she acted as Head of Business Development for Asia; Aura Gaming, where she was COO; and Solid Gaming where she held a range of senior marketing roles across an array of varied content – including live-dealer and assorted igaming solutions for the fragmented Asian market. In each case, she diligently built the brand’s reputation in gaming markets from India to the Far East, demonstrating a keen eye for strategy and new sales across both digital and land-based sectors.
Now Crystal brings those skills to bear at the industry’s leading platform and distributor for growth territories. She will be responsible for managing QTech Games’ existing partners throughout the world’s largest continent, and spearheading the expansion of QTech Games’ burgeoning influence into other untapped “margin” markets.
Crystal Nadal said: “I’ve always based my business relationships on the ability to add value. Working with QTech Games, I’ve not only found the premier distributor for delivering localised games in Asia, but also a strong, experienced team that are client-focused and share an ongoing commitment to tailor their offering to make it work for the customer.
“My new colleagues at QTech Games have excellent relationships across the sector, and their proprietary platform has quickly become the trailblazer in our home territory of Asia. They’re trusted, supportive, collaborative and well-regarded. I can’t get behind a better story than that.”
Philip Doftvik, CEO of QTech Games, commented: “We’re thrilled that Crystal has joined the QTech Games team and she’s hit the ground running. With her winning mindset and attitude, she is also a perfect fit in our company culture. Her experience and contacts in sales and business development are second to none in the Asia landscape, so she’ll be a real asset to both the company and all our clients.
“Securing the best executive talent has always been a main driver of our ability to scale. Therefore, we’re naturally delighted that Crystal is now taking the wheel for further business development and sales in our core continent.”
The post QTech Games appoints Crystal Nadal to the role of Sales Director appeared first on European Gaming Industry News.
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