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Vietnamese MoPS releases official information about biggest online gambling ring

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Vietnam Ministry releases official information about biggest online gambling ring
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The Ministry of Public Security (MoPS) has officially announced a crackdown on “using the internet to appropriate assets, organise gambling, gamble, illegally trade invoices and launder money in Phu Tho province and some other provinces and cities.”

The announcement was issued after a number of domestic newspapers ran inaccurate reports on the investigation into and initial investigation outcomes of the case. The ministry did not clarify which parts of which reports were inaccurate.

The ministry said many organisations and persons took advantage of information technology and the internet to organise online gambling rings through betting or card games. Among those card games, Rikvip, which was later renamed Tip.club, was organised in a sophisticated manner and on a large scale, attracting millions of gamblers with trillions of VND.

Rikvip began operations on April 18, 2015 on the websites rikvip.com and rikvip.vn, featuring 42 games simulating different forms of gambling. It was renamed Tip.club in August 2016 and operated as mobile and computer applications.

To join the games, gamblers created accounts and sent money to buy virtual scores, called RIK, to those accounts through pre-paid telecom cards (Viettel, Mobifone, Vinaphone), game cards (Zing, Gate, Vcoin, Megacard, GoCoin, Vcard), and bank accounts, or directly buy virtual scores at Rikvip agencies.

After winning or losing games, gamblers could convert RIK into money by selling RIK to Rikvip agencies or selling pre-paid telecom card numbers and game card numbers, sending money to telephone accounts, or by using payment gateways.

To help gamblers send money to their game accounts, gambling organisers used legal entities they set up to connect with payment gateways (VNPT EPAY, Ngan Luong, HOMEDIRECT, Giai tri so) so gamblers could use pre-paid telecom cards and game cards to send money. They also used the National Payment Corporation of Vietnam (NAPAS) services to help gamblers send money to game accounts from bank accounts while issuing Vcard and GoCoin game cards with the same purpose.

The gambling organisers set up a system of gambling agencies nationwide, including 25 tierl-1 agencies and 5,852 tier-2 agencies.

Thanks to the convenient payment system and widespread advertising online, Rikvip/Tip.club attracted a large number of gamers, becoming the disguised gambling system with the largest  scale and revenue in Vietnam, according to the MoPS.

The investigation found that from April 18, 2015 to August 29, 2017, there were 42,956,715 accounts on the Rikvip/Tip.club system. Each gambler had an average of three accounts, so the total gamblers could number more than 14 million.

After investigating, in August 2017, the MoPS decided to prepare to tackle the case. At the same time, police of northern Phu Tho province were probing a case of “using the internet to appropriate assets” in the province and carried out legal procedures against some suspects involved in the tier-1 agencies in the MoPS’s investigation. Leaders of the ministry assigned the investigation to the Investigation Security Agency under the Department of Public Security of Phu Tho province.

On August 29, 2017, the Investigation Security Agency under the Department of Public Security of Phu Tho province, launched legal procedures against persons and organisations involved in the organisation of gambling through Rikvip/Tip.club.

With the permission of the Party Central Committee’s Secretariat, on March 11, 2018, the Investigation Security Agency launched legal proceedings against and detained Nguyen Thanh Hoa, former director of the MoPS’s police department for high-tech crimes, for organising gambling.

Phan Sao Nam (born in 1979, former Chairman of the Board of Directors and Director of the VTC Online Telecommunications Company – VTC online) and Nguyen Van Duong (born in 1975, former Chairman of the Member Council of the Hi-tech Security Development and Investment Ltd. Co. – CNC) are accused of being the masterminds behind the ring. Read our previous report about the gambling ring case.

Meanwhile, Hoang Thanh Trung (born in 1978, Deputy Director of the Nam Viet Investment Development Service Co. Ltd and former Director of the VTC Technology and Digital Content Company – VTC Intecom) was also arrested for his deep involvement in the case.

The offence was supported by many persons, the ministry noted, adding that as of March 14, 2018, the investigation agency launched legal proceedings against 83 persons. Among them, 41 persons were prosecuted for the charge of organising gambling, 38 for gambling, four for illegally trading invoices, two for laundering money and one using the internet to appropriate assets.

Police are currently detaining 31 persons, banning 42 from leaving their living places and hunting for eight others. Two people are out on bail.

The probe initially found that the money paid via legal and illegal payment gateways exceeded 9.58 trillion VND (around 422 million USD), including more than 9.29 trillion VND via pre-paid telecom cards and game cards, accounting for 97 percent of the total money involved. About 168 billion VND (7.4 million USD) was sent from bank accounts.

Police have so far seized assets (cash and houses) worth nearly 1.24 trillion VND (54.5 million USD) in total and 12 cars.

The probe into the case is being expanded.-VNA

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Asia

SCCG Announces Strategic Partnership with Gridlogic

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SCCG Management, a premier advisory firm in the gaming industry with a global footprint and over 100 best-in-class client partners, announced a strategic partnership with Gridlogic, a leading Real Money Technology group and a pioneer in the iGaming industry. This partnership is set to enhance SCCG’s initiatives in the rapidly growing Indian gaming market, leveraging Gridlogic’s innovative technology solutions and artificial intelligence capabilities for player protection.

With Gridlogic’s reputation as one of India’s fastest-growing gaming technology companies, this collaboration marks a significant milestone in SCCG’s efforts to expand its global market entry and distribution of gaming products and platforms. Gridlogic, known for its next-generation technology and artificial intelligence applied to skill gaming, brings to the table a wealth of expertise and a robust portfolio of technology services that include gaming, data management and business transformation.

Stephen Crystal, Founder & CEO of SCCG Management, said: “Our alliance with Gridlogic represents a pivotal step forward in our mission to navigate the complexities of the global gaming landscape. Gridlogic’s innovative approach and technological prowess in the Indian market complement our strategic goals perfectly. Together, we are poised to unlock new opportunities and drive significant value for our stakeholders in one of the world’s most dynamic gaming markets.”

Pariekshit Maddishetty, Founder of Gridlogic, said: “Partnering with SCCG Management is a landmark moment for us at Gridlogic. Their global perspective and deep industry insights align seamlessly with our vision of revolutionizing the gaming sector through technology and artificial intelligence. This partnership not only strengthens our position in the Indian market but also accelerates our journey towards becoming a global leader in gaming technology solutions.”

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Asia

PAGCOR TURNS OVER PHP4.59-B CASH DIVIDENDS TO STATE TREASURY

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THE Philippine Amusement and Gaming Corporation (PAGCOR) today remitted a total of Php4.59 billion in cash dividends to the National Treasury to help fund the national government’s efforts in ensuring the country’s sustained economic growth and development.

The latest remittance represents 75% of PAGCOR’s net income in calendar year 2023. It is higher than the usual 50% remittance pursuant to the request of Finance Secretary Ralph Recto to PAGCOR to advance an additional 25% dividend to fund government expenditures.

PAGCOR Chairman and CEO Alejandro H. Tengco said the state gaming firm’s robust earnings from gaming operations enabled it to book Php79.37 billion in gross revenues and net earnings of Php6.13 billion in 2023 as dividend base, paving the way for a higher dividend rate declaration.

“Our remarkable income performance in 2023 set the stage for this higher dividend contribution to the national government, and this epitomizes not just financial success but our unwavering commitment to national development,” Chairman Tengco said.

The dividend declaration consists of Php3.06 billion or 50% of PAGCOR’s 2023 net earnings plus an advanced 25% or Php1.53 billion which may be applied to future dividend remittances.

The dividend check was received by Deputy National Treasurer Eduardo Anthony Mariño III during simple ceremonies at the new PAGCOR Executive Office in Pasay City.

Mariño said the higher remittance from PAGCOR would help set in motion the administration’s socioeconomic agenda as the country is coming from a challenging year where it found difficulty achieving growth targets due to inflation.

“Every peso of this latest remittance from PAGCOR is directly translatable to additional expenditure which can help accelerate growth. This would certainly empower the national government in initiating transformative change this year,” he explained.

The remittance by government owned and controlled corporations or GOCCs of at least 50 percent of their net earnings to the National Government is mandated under Republic Act (RA) No. 7656, otherwise known as the Dividends Law

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SOFTSWISS is Best Platform Solution in Asia

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SOFTSWISS is Best Platform Solution in Asia
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SOFTSWISS, an international tech company with over 15 years of experience in iGaming, celebrates its resounding success in Asia, triumphing in two categories at the Asia Gaming Awards. 

The Asia Gaming Awards convenes key stakeholders from the Asian gaming sector – operators, regulators, suppliers, and service providers – to celebrate achievements within the industry. In 2024, SOFTSWISS earned recognition in the categories of Best One-Stop Platform Solution and Best Affiliate Marketing Solution.

With over 15 years of experience in the iGaming industry, SOFTSWISS crafted a robust ecosystem of products that allows its clients to create an iGaming business from scratch. Having a complete range of products and solutions for online gaming and betting, SOFTSWISS also offers innovative tools for player engagement and a comprehensive system of services.

Over 860 brands employ SOFTSWISS’ software to provide an exceptional player experience to more than six million players from different regions all over the world. Notably, 80% of SOFTSWISS clients are satisfied with the company’s products and services, according to a survey conducted by the leading marketing agency Kantar.

Vitali Matsukevich, Chief Operating Officer at SOFTSWISS, shares his delight: “SOFTSWISS is proud to acquire the esteemed Best One-Stop Platform Solution Award, which testifies to the outstanding contributions of our company to the development of the Asian gaming industry. We express our earnest gratitude to our dedicated team for their tireless efforts and our valued clients for their trust, pivotal to our success.”

Another well-deserved award belongs to Affilka by SOFTSWISS, a modular and feature-rich software platform which helps manage, track, and analyse affiliate performance. 

According to Kantar’s survey, held at the end of 2023, Affilka’s customer satisfaction rate was 8.1 out of 10. At the same time, 97% of respondents expressed satisfaction with Affilka’s service.

Boasting a client’s portfolio of more than 320 iGaming brands in 2023, the affiliate marketing platform shows almost two times YoY growth in affiliate GGR.  

Anastasia Borovaya, Head of Affilka by SOFTSWISS, comments on the recent victory: “We are proud to achieve this recognition in the Asian gaming market. Our team puts a lot of effort into constantly evolving product performance. Let this accolade fuel our unwavering commitment to innovation and excellence, driving us forward as we continue to serve our clients with the highest standards of quality and service.”

Since the beginning of the year SOFTSWISS has already gained such prestigious accolades as Responsible Gaming, Crypto Company, Platform Provider, Software Supplier, and others. The esteemed awards, namely IGA, GGA EMEA, SiGMA Eurasia, EGR Nordics, SiGMA Africa, Asia Gaming Awards stand as obvious recognition of SOFTSWISS’ significant contribution to the iGaming industry all over the world. 

 

About SOFTSWISS 

SOFTSWISS is an international tech company supplying software solutions for managing iGaming projects. The expert team, which counts over 2,000 employees, is based in Malta, Poland, and Georgia. SOFTSWISS holds a number of gaming licences and provides one-stop-shop iGaming software solutions. The company has a vast product portfolio, including the Online Casino Platform, the Game Aggregator with thousands of casino games, the Affilka affiliate platform, the Sportsbook Platform and the Jackpot Aggregator. In 2013, SOFTSWISS was the first in the world to introduce a Bitcoin-optimised online casino solution.

 

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