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Japanese investors become partners of Russian company in Primorye

Niji Narayan

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Japanese investors become partners of Russian company in Primorye
Photo Source: yogonet.com
Reading Time: 2 minutes

 

Japanese businessmen have become partners of the Russian gambling company Diamond Fortune based in the Primorye gambling zone. Diamond Fortune has number of land plots in the Primorskiy Territory.

The company is building a hotel with a casino, a SPA centre, and a nightclub. The Japanese investment will further boost the project. The first stage of the Imperial complex will include a hotel with four categories of rooms, including a presidential suite, as well as a casino covering about 9 thousand square meters with 50 gambling tables and 300 slot machines. The project includes an author’s restaurant, a food court with Russian, Chinese and Italian cuisines, a nightclub, a SPA area of ​​more than 1000 square meters and shops. The opening date is scheduled for autumn 2020. In the first phase investments will amount to 70 million US dollars. At the first stage, the complex will create almost 800 jobs. The second phase of the project involves the construction of another hotel for 300 rooms with an investment of about 200 million US dollars.

“We have adjusted the project of the hotel and entertainment complex, made it even more modern, taking into account the growing needs of Russian and foreign tourists. Thanks to the fact that the Russian Government provides a lighter visa regime for our closest neighbours—residents of China, Korea, Japan and Hong Kong—we intend to receive about 340 thousand guests a year,”—Sergey Sidorov, the Chairman of the Board of Directors of the Diamond Fortune LLC, said.

Chairman of the Board of Directors of Simple Create Co Ltd. Koyama Nobukadzu stressed that the decision to invest in the resort “Primorye” was made because of confidence in the success of the project. The resort is located close to the airport, by the sea, and surrounded by beautiful nature.

“I have not seen a single casino in the world that fronts the coast so beautifully as in Primorye. Many of our potential customers live in China, Japan, the Republic of Korea, and Taiwan within two hours of flight, and this is a guarantee of a large number of guests,” Koyama Nobukadzu said.

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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Rise in Staffing Costs Results in Full-year Revenue Loss for Genius Sports

Niji Narayan

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Rise in Staffing Costs Results in Full-year Revenue Loss for Genius Sports
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Genius Sports Group has posted a loss of £7.6m for the year 2018 despite a 23.9% yearly rise in revenue for the 12-month period.

Revenue for the year ended December 31, 2018, amounted to £65.8m, up from £53.1m in the year 2018. Genius Sports experienced momentous growth in its rest of world business, with revenue up from £200m to £31.3m. UK revenue also climbed from £6.1m to £7.3m, while rest of Europe revenue increased a little from £26.9m to £27.2m.

Though, GS also noted a growth in expenses for the year, with the cost of sales rising 52.4% from £18.4m to £28.0m and administrative expenses up from £23.3m to £29.5m. Hiring more staff costs particularly hit Genius, with this jumping from £22.3m to £29.7m as the business increased its employee numbering from 669 to 901 in the year.

The increased costs drove Genius from an operating profit of £5.9m in 2017 to an operating loss of £4.2m for the full year. Evaluating the results, Regulus Partners said that Genius’s historical pattern of growing revenue at the expense of profitability also need to be changed in order to deliver viable potential.

Market Analyst at Regulus also emphasised Genius’s acquisition of English and Scottish football official betting data from what is now Stats Perform, saying that this is “transformational to Genius and potentially transformational to the betting as well as sports rights sectors.”

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Svenska Spel Launches Verisec’s Freja eID Technology

Niji Narayan

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Svenska Spel Launches Verisec’s Freja eID Technology
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Svenska Spel has launched Verisec’s Freja eID to enhance its customer identification process.

The new gambling legislation that came into force on 1 January this year requires gaming companies to use an e-ID for registration of their customers. This is to increase safety and to ensure players’ age and identity. Until now, the customers of Svenska Spel have been referred to a single e-ID but with the introduction of Freja eID is given both greater choice and independence, by not being locked to a specific login method.

“Most companies that digitize their services put considerable resources on good user experience and to eliminate eventual friction for users who want to access the digital service. Thus, not keeping users locked to a specific sign-in solution is an important step. We believe that this is not only positive for the users, we also believe it is a strong competitive factor in that Svenska Spel is the first gaming company with a gaming license that offers its users more than one e-ID,” Johan Henrikson, CEO of Verisec said.

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Trustly Launches its New Product Trustly Live

Niji Narayan

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Trustly Launches its New Product Trustly Live
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Online banking payments provider Trustly has launched Trustly Live, the product built specifically for land-based gaming. With the introduction of Trustly Live, Trustly is helping to remove the need for cash at land-based casinos and sportsbooks.

With Trustly Live, players can scan a Trustly QR code with their smartphone and instantly deposit funds from their online bank account. This helps operators to lower cash handling costs while also catering to the preferences of their players. Additionally, Trustly Live can strengthen KYC and AML checks, ultimately helping to enhance the trackability of players and meet increasingly strict regulatory requirements. Trustly Live is currently live with Cherry Spelglädje in 45 locations in Sweden and plans to expand across Europe in the coming months.

“The launch of Trustly Live will help land-based operators thrive in today’s increasingly cashless economies. Cash handling is expensive, unsafe and, frankly, outdated. Consumers are already adopting safer and more convenient ways to pay and Trustly is excited to be bringing innovation to the land-based gaming world by helping operators keep pace with their players’ preferences,” Samuel Barrett, Director of Gaming at Trustly said.

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