Asia
Missing Hong Kong casino chairman arrested in Cambodia
Yang Zhihui, the Chairman of Hong Kong-listed casino and hospitality operator Landing International Development Ltd., who was missing for some weeks, has been reportedly detained in Cambodia. This is the last of a series of bad news for the struggling company. Its share prices, which had already have fallen by 35% over the last few weeks, were further down by 33% following the announcement. They fell another 33% today to their lowest since last springnews of arrest.
The company currently runs the Jeju Shinhwa World integrated resort on South Korea’s Jeju Island. The property had its grand opening earlier this year with 155 gaming tables and multiple other gambling and non-gambling options.
Earlier this year, Landing also announced plans to build a $1.5-billion hotel and casino resort in the Philippines. The company received a provisional license from the local gambling regulator PAGCOR and obtained a portion of land in what is known as Entertainment City in the Manila Bay area.
The developer broke ground on the resort on August 7 only to see Philippine President Rodrigo Duterte vow to block the mega-scheme just a few hours after the ground-breaking ceremony. The country’s top official said that the lease contract Landing had secured for the development of its resort was “unconscionable” and that he would not allow any more gambling resorts in the country beyond the existing ones.
Mr. Yang is the casino operator’s largest shareholder with a 50.5% stake. While Landing did not specify in its note to the Hong Kong Stock Exchange whether it had any additional information about the businessman’s whereabouts and why he might have gone missing, reports emerged across Asian media outlets that he was arrested in Cambodia over his ties with Chinese state-owned bad-debt manager China Huarong Asset Management Co. Ltd. The company’s former Chairman, Lai Xiaomin, has recently found himself embroiled in a massive graft investigation.
According to local news outlets, Mr. Lai is facing charges for channeling billions of Chinese yuan to a private company for years. The probe extended to people with close ties with the disgraced businessman, who left his Chairman post at the bad asset manager in April.
Chinese media outlet Caixin reported on Thursday citing multiple unnamed sources that Landing’s Chairman was arrested at an airport upon landing in Cambodia. The news website pointed out that the reasons for his detention were unclear, but it was believed that his reported “close business ties” with Mr. Lai might have turned the attention of police authorities toward him.
Caixin further reported that Landing’s Chairman was a controversial figure across Hong Kong’s business communities due to his suspected but unconfirmed involvement in a fraud scheme.
Source: casinonewsdaily.com
Asia
Key Market Entry at a floor price of $4.5 Million, Casino.jp is on the Market Amid Japan’s iGaming Expansion.
In an unprecedented move within the iGaming and domain sectors, the sought-after domain name Casino.jp is now open for acquisition for the first time. With a starting price of $4.5 million USD, this domain represents a rare entry point into Japan’s burgeoning gambling market, facilitated by an enterprise-oriented domain brokerage, Domainer.com.
Japan, with its complex gambling laws, is on the brink of a gaming revolution, highlighted by the 2023 approval of the $8.1 Billion casino-centred integrated resort in Osaka. Set to open in 2029, it is a collaboration between MGM Resorts and Orix, as reported by Reuters. This venture is rekindling interest among major operators and investors, eager to explore the untapped Japanese market.
The Catalyst Behind the Buzz
Why should the iGaming and domain communities take notice? For starters, the anticipated opening of the Osaka Resort in 2029 is set to shake up the Asian gambling landscape, currently dominated by Macau. With Macau generating over $22.7 billion USD in 2023 alone, the new resort poses a formidable challenge, promising to divert significant revenue streams with its projected annual earnings of $3.5 billion USD, almost half of that reported by Las Vegas entirely in 2023.
Domain Names: The Gateway to Industry Dominance
The value of premium gambling domain names cannot be overstated, having commanded staggering sums in the past. Icons like Slots.com and Casino.com were sold, in 2010 and 2003 respectively, for as much as $5.5 million USD each, underscoring the critical role of a powerful domain in establishing market presence. “Choosing the right domain is the first step in making a bold market entry,” states Ian Garner Chief Domain Officer of Domainer.com, emphasizing the importance of domains in branding and market visibility. Domainer.com’s recent $15 million USD brokerage of a deal for NFTS.com further illustrates the high stakes involved in domain trading.
Navigating Japan’s Gambling Regulations
While Japan’s gambling laws are currently restrictive, the government is progressively legalizing new forms of betting, including sports-related activities like horse races, boat races, and indoor cycling. However, the online gambling scene remains tightly controlled, with the anticipated legalization in some sectors sparking a significant potential for growth. As regulations evolve, early investment in a domain like Casino.jp could position an entity advantageously, ready to capitalize as the market opens further.
In Conclusion:
Casino.jp is more than a domain—it’s a key to unlocking Japan’s lucrative, yet tightly regulated gambling industry. This is a strategic call to entities poised to establish a foothold in a market on the cusp of substantial regulatory changes. Interested parties are encouraged to contact Ian Garner through Casino.jp’s contact page or directly via Domainer.com to explore this unparalleled investment opportunity.
Asia
2 RAIDS NET 10 CHINESE, 26 PINOYS FOR ILLEGAL GAMES, ONLINE SCAMS
The Philippine Amusement and Gaming Corporation (PAGCOR) today said 10 Chinese nationals and 26 Filipinos have been arrested in two separate operations against illegal gaming operations and online scams in Laguna and Parañaque City since Tuesday.
The first operation in Biñan, Laguna on Tuesday, May 1, resulted in the arrest of 16 people who were running an illegal online raffle on Facebook. The raiders are from the Philippine National Police Anti-Cybercrime Group (PNP-ACG) and the PAGCOR security group.
The suspects, which run the FB Page Lucky Dream 4, were caught red-handed in their office located inside a subdivision while livestreaming their 50th raffle event.
Earlier today, May 2, another group of suspects that included 10 Chinese nationals were arrested by joint elements of the CIDG-NCR and PAGCOR inside a house in Multinational Village, Parañaque for violation of the Anti Trafficking in Persons Act (RA 9208), Alien Registration Act (RA 562) and Cybercrime Prevention Act (RA 10175).
PAGCOR Chairman and CEO Alejandro H. Tengco said the arrests are part of the state gaming agency’s intensified campaign against illegal online gambling and other illicit activities through strengthened collaboration with law enforcement agencies.
“We have been receiving reports of illegal online activities including those in social media platforms. As the country’s gaming regulator, it is our duty to protect the public – especially the youth — from these illegal online gambling sites,” he said.
PAGCOR Senior Vice President for Security Cluster Raul Villanueva said Lucky Dream 4, which has 111,000 followers on Facebook, was conducting live online raffles that offered second-hand modified motorcycles as prizes.
Villanueva said that in one raffle event, the group can sell an average of 40,000 to 50,000 tickets, with each ticket costing Php40.
“They have amassed over Php8 million from the time they started this illegal online operation because in one draw, they can sell as many as 50k tickets,” Villanueva said.
“Ang masaklap nito, karamihan sa miyembro ng grupong ito ay kabataan. Ang pinaka-matanda sa kanila ay 27 years old pa lang,” he said.
“The Lucky Dream 4 group is obviously engaged in an illegal online gaming activity. Negosyo na ang ginagawa nila. They need to secure a license from PAGCOR if they want to operate an online gaming platform,” Villanueva added.
In the Parañaque raid, Villanueva said authorities arrested seven male and three female Chinese nationals believed to have been part of a group that managed to escape from an earlier raid on a large gaming compound in Bamban, Tarlac last March.
Nine Filipino female workers were also rescued, while one 1 Filipino male serving as a bodyguard was arrested for possession of an undocumented .45 caliber pistol.
The raiders also confiscated around 75 mobile phones, 30 desktop computers, 50 laptops, assorted credit cards, two cars and one motorcycle along with assorted Chinese government documents.
Two vaults were also found in the house located at 18 Teheran Street inside the exclusive subdivision.
Police said the Chinese suspects were engaged in scamming activities such as love and cryptocurrency scams similar to the illegal activities in the Bamban, Tarlac compound which was raided last March.
Asia
Esports media platform TalkEsport raises $1 million in pre-series A funding round
TalkEsport, India’s leading esports media platform, announced today the successful closure of its pre-series A funding round, securing a significant investment of $1 million from Saswat Ventures. The substantial investment underscores TalkEsport’s robust growth trajectory and reaffirms its position as a pioneering force in the esports industry.
Founded in 2011, TalkEsport was set up with a vision to bring timely news and updates to gaming communities worldwide. As India’s oldest esports media platform, the company now caters to millions of gamers worldwide through its website and social media channels. TalkEsport plans to utilize the investment to scale up its core website while launching a highly interactive application for its audience and setting up a state-of-the-art production studio in Mumbai. Through it, the company will be launching exclusive content IPs focused on gaming and esports.
“We are delighted to welcome Saswat Ventures as our strategic partner,” exclaimed Deepak Ojha, Founder and CEO of TalkEsport. “Their belief in our vision and commitment to the esports ecosystem align seamlessly with our mission to redefine gaming experiences globally. With this investment, we will be scaling up our newsroom to cater to gaming communities worldwide while launching new content IPs targeted towards Indian and international audiences.”
Saswat Ventures, a family fund set up by Mr. BL Sharma, Principal, shares a vision of catapulting TalkEsport into a global phenomenon. Mr. Sharma has businesses across the country and expressed his confidence in TalkEsport’s potential to revolutionize esports media and connect with a vast audience of passionate gamers worldwide, “We believe in TalkEsport’s potential to become a global platform for esports enthusiasts worldwide.”
Trilochan Sharma, a seasoned expert in compliance matters, joins TalkEsport’s board as the Director of Compliance. His wealth of experience will ensure adherence to regulatory standards and bolster the company’s governance framework.
In addition to this pivotal investment, TalkEsport is proud to announce key developments that highlight its commitment to innovation and growth:
Production Studio in Mumbai
TalkEsport is excited to unveil its state-of-the-art production studio in Mumbai. This cutting-edge facility will serve as the epicenter for creating high-quality esports content, launching content IPs, live broadcasts, interviews, and immersive gaming experiences.
Pranav Nalawade, the Editor-in-chief of TalkEsport, said, “Our new era of esports coverage will begin not only with TalkEsport’s revolutionary approach in publishing news and covering esports events but also high-quality esports content courtesy of our new production studio. As one of the oldest esports media platforms, we have built an audience that relies on us for our history of trustworthy and reliable news. Now, we want to double up on this audience, reforming the way content around esports is consumed in India and abroad through podcasts, media, short-form content, and analytical stories – both in the form of video and text.”
Upcoming Mobile App Launch
Furthermore, TalkEsport is gearing up for the launch of its mobile application soon. This innovative app promises to redefine how gamers access news, engage with esports communities, and participate in live tournaments, all from the convenience of their mobile devices.
“Proceeds of the $1 million will be utilized in creating a robust team of gaming enthusiasts and expanding our global reach,” added Deepak. “This investment not only propels TalkEsport’s growth initiatives but also fuels our mission to provide unparalleled experiences for esports enthusiasts worldwide.”
Through its application, esports viewers will be able to get live coverage of esports tournaments, scores, and interviews. Additionally, they will be able to participate in community tournaments, thus providing an end-to-end immersive experience from the convenience of their mobile devices.
The media company continues to lead the charge in transforming the esports landscape, fostering community engagement, and pushing the boundaries of gaming innovation. The company’s dedication to excellence, coupled with strategic partnerships and visionary leadership, sets the stage for an exciting chapter in esports media.
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