Asia
Genting HongKong sells stake in Norwegian Cruise Line anew
Cruise and casino investor Genting Hongkong Ltd. is disposing its 2.19 percent stake in cruise operator Norwegian Cruise Line Holdings, Ltd. (NCLH) worth US$270.1 million in net proceeds
In a disclosure to the HongKong Stock Exchange, Genting said that a total of 5 million shares will be up for sale to underwriter Morgan Stanley. The sale will be done via Genting Hong Kong’s wholly-owned subsidiary Star NCLC Holdings Ltd.
As of Wednesday, Genting HongKong’s shares at NCLH had a market value of about $275.4 million. Meanwhile, Genting HongKong stopped trading of its shares on Thursday pending an announcement related to the divestment of its shares in the Nasdaq-listed cruise operator.
Based on their initial estimate, Genting HongKong is expecting a gain of about $57.4 million from the sale. After the whole transaction is completed, Genting’s stake in NCLH will be reduced to 5.64 percent.
The company said that the proceeds from the disposal “will be used as general working capital and capital expenditure for the group and/or to fund new investments, should suitable opportunities arise.”
It would be recalled that Genting HongKong hinted last month that it is shifting its focus to North Asia as it made a primary listing in the HongKong bourse and exited the Singapore Stock Exchange.
The HongKong listing, according to the casino investor, will increase its visibility among North Asian investors and the liquidity of its stock.
This is the second time that Genting HongKong has divested shares in NCLH. In August, Genting Hong Kong pare a 3.29 percent stake in NCLH for US$409.1 million, with the company recording a net gain of US$90.1 million.
Lim Kok Thay, Genting Hong Kong’s chairman and CEO, assured investors last month that the holding firm is committed to the growth of the Asian cruise market. He added that the company aims to focus its resources on its business operations and streamline its compliance obligations to meet the growing demands of the Chinese market.
Asia
India’s top gamers Jonathan & TechnoGamerz to face off in eFootball showdown at DreamHack India 2024
Two of Indian esports and gaming’s biggest personalities, Jonathan Amaral (Jonathan) and Ujjwal Chaurasia (TechnoGamerz) are all set to lock horns in an electrifying clash of eFootball at DreamHack India 2024 which will be taking place at the Hitex Exhibition Centre in Hyderabad from November 15 to 17.
Having consistently made his mark in national as well as international tournaments, Jonathan is celebrated not only as one of India’s top esports athletes but also as a prominent content creator, with 6.5 million subscribers on YouTube. TechnoGamerz, on the other hand, stands as one of the biggest gaming creators globally, with an impressive 43.2 million YouTube subscribers.
This match-up, bringing together two icons of the Indian gaming ecosystem on the virtual pitch will be one for the ages. Fans of both stars can expect an intense display of skill, strategy, and passion for the game as both gamers compete for glory.
In addition to the exhibition match, Konami Digital Entertainment Co., Ltd. (KONAMI), the leading video game developer and publisher from Japan will also be hosting other exciting activities at the eFootball zone at DreamHack India 2024. These will include:
- 1v1 Matches: Attendees will be able to test their skills against friends and other players in thrilling 1v1 eFootball matches.
- Game Demonstrations: An in-depth look at eFootball through live demonstrations led by Konami’s gaming gurus. The one-stop spot to gather valuable insights and pro tips to elevate your gameplay in eFootball.
- Trivia Challenges: Put your knowledge to the test with trivia challenges that will run throughout the event, offering participants a chance to win exciting rewards.
- Crowd Engagement Activities: Real-life football activities like juggling and dribbling challenges to bring the stadium experience to the Hitex Exhibition Centre floor.
- Influencer Visits and Exhibition Matches: A line-up of top influencers will stop by for exhibition matches, fan meet-and-greets, and exclusive gaming sessions, keeping the energy high throughout the event.
- Exclusive Merchandise Giveaways: From trivia and 1v1 matches to game demonstrations, every activity gives participants a chance to win limited-edition eFootball merchandise.
Whether you’re looking to cheer on your favorite star, learn new techniques, or grab some amazing merch, the eFootball zone at DreamHack India is the place to be.
This year’s DreamHack India is all about passion, competition, and community, and Konami is proud to bring fans closer to the world of eFootball than ever before.
Asia
PBBM Orders Immediate Ban Against All PH POGO Operations
Citing risks posed by Philippine Offshore Gaming Operators (POGO) operations in the country, President Ferdinand R. Marcos Jr. issued Executive Order No. 74 imposing an immediate ban on offshore and internet gaming in the country.
In issuing the EO 74, President Marcos said “the State has the paramount duty to safeguard national security, maintain public order, uphold the rule of law, protect the safety of its citizens, and ensure the integrity of the social fabric of the nation.”
“…In pursuit of such duty, an unequivocal ban of POGO/IGL operations was pronounced during the State of the Nation Address on 22 July 2024.”
The EO cited the Department of Finance (DOF) study in saying that POGO activities significantly outweigh the economic and social benefits derived from the POGO industry because of the risks and negative consequences such as increased crime rates, social instability and exploitation of vulnerable people associated with them.
The Anti-Money Laundering Council (AMLC) Report also indicated POGOs have been identified as susceptible to money laundering, fraud and other illicit financial activities, and therefore pose substantial threats to the integrity of the national financial system.
“The high reputational risks associated with POGO/IGL operations deter foreign investment and tourism, undermining the efforts of the National Government in promoting the country as a safe and sustainable investment and tourism destination,” the EO stated.
The President’s order, signed by Executive Secretary Lucas Bersamin on Nov. 5, will cover Philippine Offshore Gaming Operators and Offshore Gaming Operations and Services.
All POGOs/IGLs and other offshore gaming operations and other offshore gaming-related/auxiliary/ancillary services with issued licenses, permits are expected to completely cease operations, including the winding up of their affairs, on December 31, 2024 or earlier.
And to develop and implement a comprehensive strategy, Technical Working Groups (TWGs) will be created. The TWG on Employment Recovery and Reintegration will address the impact of the foregoing ban on the affected sectors of the economy and ensure the reintegration of displaced Filipino workers.
This will also involve the provision of assistance and safety nets which include upskilling and reskilling programmes to ensure displaced workers could find new jobs.
The President also issued directives to national government agencies in response to the immediate POGO operations prohibition.
He wants the Presidential Anti-Organised Crime Commission (PAOCC), Philippine Drug Enforcement Agency, and other law enforcement agencies to intensify their efforts against illegal POGOs/GLs and other offshore gaming operations and services.
The Department of Human Settlements and Urban Development (DHSUD) was instructed to assist the TWG on Anti-Illegal Offshore Gaming Operations in securing the cooperation of homeowners associations to ensure the non-proliferation of POGO/IGL and other offshore gaming operations and services in subdivisions, condominiums and other real estate developments.
Asia
Nazara integrates with ONDC Network to Launch “gCommerce” in India, Unlocking a new era of In-Game Monetization
Nazara Technologies Limited, a leading diversified gaming and sports media platform, and Open Network for Digital Commerce (ONDC) are proud to announce their integration to launch “gCommerce” – an innovative in-game monetization platform that seamlessly integrates e-commerce within games.
The integration aims to address a persistent challenge for Indian game developers: low in-app purchase (IAP) conversion rates and poor yields from advertising. Through gCommerce, Nazara and ONDC Network are reimagining game monetization by leveraging India’s thriving e-commerce landscape and providing developers with new, scalable revenue streams.
This strategic integration will allow game developers to monetize through an affiliate revenue-sharing model, earning a commission on every successful transaction initiated by players through the gCommerce platform.
Creating Value for Developers and Gamers
ONDC Network’s expertise in creating an open, interoperable network for digital commerce will enable Nazara’s gCommerce platform to connect with a wide range of sellers across more than 10 categories, ensuring a rich diversity of product offering for gamers. This integration enhances the user experience by allowing them to make informed purchases while they continue their gaming journey.
“We are excited to announce the upcoming launch of gCommerce by Nazara via integration with the ONDC Network, as it represents a significant step forward in our mission to empower game developers with effective and innovative monetization solutions,” said Nitish Mittersain, CEO of Nazara Technologies. “We are not only creating new revenue opportunities for developers but also enriching the overall experience for our gamers.”
T Koshy, CEO of ONDC, added, “Nazara coming on ONDC Network to launch gCommerce is a testament to the versatility of the Network in supporting various industries and use cases. By bringing e-commerce into the gaming ecosystem, we are paving the way for a seamless blend of entertainment and shopping that adds value for players, developers, and the broader digital commerce network.”
The gCommerce platform is currently in soft launch and will be rolled out to game developers starting Q1, FY26.
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