Asia
iCandy Acquires Renowned Lemon Sky Studios, To Form Largest Game Development Company in Australia and Southeast Asia
iCandy Interactive Limited announced its 100% acquisition of the leading Southeast Asian gaming studio, Lemon Sky Studios. This acquisition adds strategic value and significant scale to iCandy’s existing capabilities. It will form the largest pure-play game development company on the Australian Stock Exchange, and in Australia and Southeast Asia too, with more than 450 employees while generating no less than A$17 million (US$12.36 million) revenue per annum.
With significant interest and best-regarded growth in gaming driven by the metaverse concept, iCandy Interactive and Lemon Sky will be a leading powerhouse through its regional expansion plans in developing casual and AAA gaming on blockchain for the open metaverse.
The metaverse is a virtual world that allows work and play, shared by millions (or billions) of people. It is built with next-generation technology encompassing Virtual Reality, Augmented Reality and Video and Gaming technologies.
iCandy Interactive’s core business is in game development, game publishing, and esports. The company is the co-founder of the global esports league and platform, Esports Players League (ESPL), fast-growing across 17 countries in Southeast Asia, South Asia, Latin America and Europe.
Games on the iCandy network are played by over 360 million mobile gamers worldwide. The gaming studios based in Malaysia, Singapore and Indonesia have won multiple awards, including Google Play’s Best of 2016 and 2017 New Android Excellence Game Award* Games Award for Crab War and other various coveted international events.
Its latest game release, Claw Stars, is a top-rated mobile game with over 1 million downloads since its initial release in July 2021. It has received more than 50,000 4-star and 5-star reviews on Google Play and App Store.
Founded in 2006, Lemon Sky Studios is an award-winning video game and animation studio world-renowned for providing innovative visual art solutions for critically acclaimed
AAA gaming titles ranging from Overwatch 2, Call of Duty – Infinite Warfare, to SimCity, Diablo 3, StarCraft: Remastered, amongst many other illustrious titles.
The studio has amassed an incredible clientele over its 15-year history, working with gaming industry leaders such as Blizzard Entertainment, Naughty Dog, 2K Games, Square-Enix, Bandai Namco, Microsoft Studios, EA Entertainment, Disney and Nickelodeon.
“Lemon Sky Studios is a phenomenal acquisition and an excellent addition to iCandy Interactive. We now have this unparalleled capability in the region, we will focus a fair bit of our newly gained superpower to make high-quality games for the metaverse, arguably the most important development for the gaming world.” says Kin W. Lau, Chairman of iCandy Interactive.
He adds, “Lemon Sky Studios’ track record in creating world-class visuals for AAA games is highly regarded in the industry. To merge our expertise with a studio like Lemon Sky is truly phenomenal, and we cannot wait to see the outcome of integrating our teams,”
“Collaborative partnerships in the creative industry are pertinent to keeping things fresh and innovative. We are positive that this merger will encourage creative working methods and bring about new ideas. We are extremely excited about the possibilities that lie ahead,” said Cheng-Fei Wong, CEO of Lemon Sky Studios.
The acquisition will be at a valuation of MYR135 million (A$44.5 million, US$32.4 million), to be fulfilled together with cash and newly issued iCandy shares.
Concurrent with the acquisition, iCandy has also announced that it has raised A$40 million (US$29.1 million) from institutional investors via a placement that is heavily oversubscribed.
Leading iCandy’s latest fundraising round is another gaming heavy-weight, Animoca Brands, iCandy’s cornerstone investor. Animoca is a global leader in gamification technology and blockchain gaming with an extensive portfolio of over 100 investments in NFT-related companies and decentralised projects contributing to building the open metaverse. They raised more than US$200 million in 2021 and is currently valued by investors at US$2.2 billion. Separately, The Sandbox – Animoca’s subsidiary raised US$93 million recently, in a round led by Softbank Vision Fund 2.
The global video game industry is estimated to be worth A$214.33 billion (US$155.95 billion) in 2020**. With the APAC region leading the industry at 49% of the worldwide market, there is a clear pathway for growth with enormous upside potential expansion.
Asia
South Korea’s Mohegan INSPIRE Entertainment Resort is Live with State-of-the-Art Property Management and Point-of-Sale Hospitality Software Solutions from Agilysys
Agilysys Inc., a leading global provider of hospitality software solutions and services, announced that it has successfully implemented multiple state-of-the-art hospitality solutions on a unified cloud-based platform to optimise operations across Mohegan INSPIRE Entertainment Resort, South Korea’s largest entertainment-integrated resort destination.
Multiple Agilysys hospitality technology solutions designed to work together to deliver operational efficiency and analytical insights will drive enhanced revenue opportunities and enable superior experiences for staff and guests, all with the scale and flexibility required to serve the expansive and diverse entertainment-integrated resort property. Agilysys PMS and POS solutions began supporting hotel and food & beverage operations at the property in December 2023 and expanded to support both gaming and non-gaming patrons when the property’s casino opened on February 3. Agilysys “serious about service” implementation experts have worked alongside the INSPIRE team to configure and deploy these solutions to meet the exacting standards required to support this new-generation resort.
In addition to Agilysys PMS and Agilysys POS, Agilysys solutions for booking, dining reservations, service management, mobile food & beverage ordering and document imaging are live. Agilysys solutions for mobile check-in and check-out and to manage loyalty and promotions are in the process of being deployed soon.
John Ware, Vice President, Global IT Services and Support for Mohegan – which owns, develops and operates Mohegan INSPIRE in South Korea along with seven other premiere entertainment-integrated resorts in North America – said: “Agilysys has a long track record of implementing integrated hospitality technology on a grand scale. I expect that these solutions will allow us to understand each guest at an individual level and engage each of them in a personalized way throughout their stay. I would also like to appreciate Agilysys for working with us in ways that honor the sovereignty and cultural values of the Mohegan Tribe.”
Agilysys President and CEO Ramesh Srinivasan said: “Taking such a broad array of solutions – including our modern state-of-the-art PMS platform – live at the scale and diversity INSPIRE Korea requires marks a meaningful milestone for Agilysys in the Asia-Pacific region. INSPIRE Korea creates marvelous, unforgettable experiences for guests of all generations and from all corners of the world. We are honored to have Agilysys technology underlying this property’s top-notch, high-touch hospitality while also supporting the operational efficiency and revenue-per-guest insights essential to achieving its mission of ‘Inspiring Worlds, Inspiring People’.”
Mr. Srinivasan continued: “We look forward to continuing to serve INSPIRE Korea as the organization executes its impressive plans for elevating and transforming hospitality for guests from around the world.”
Asia
SoftGamings Welcomes WM Casino Into its Fold
SoftGamings has formally announced its partnership with WM Casino, a renowned developer of diverse live casino gaming content explicitly created for Asian markets. This collaboration signifies a strategic move to integrate WM Casino’s extensive game portfolio into SoftGamings’ platform, promising an enhanced gaming experience for operators looking to expand to Asia, particularly Southeast Asia.
This partnership aims to diversify and enrich the gaming options available to SoftGamings’ clientele, featuring a broad spectrum of WM Casino’s acclaimed games such as Baccarat, SicBo, and some more exclusive titles like Niuniu, Fantan, Se Die, and Fish-Prawn-Crab.
Anna Kiselova, the Head of Partnerships at SoftGamings, commented on the collaboration, stating, “We are thrilled to forge this partnership with WM Casino. It’s a step that not only enhances our platform’s diversity regarding live dealer games but also reaffirms our dedication to delivering top-notch gaming experiences to specific markets. WM Casino’s innovative and dynamic range of games will undoubtedly add great value to our offering.”
Integrating WM Casino’s games into the SoftGamings platform will offer operators enhanced flexibility and variety, ensuring their players can access a richer and more engaging suite of gaming options in record times.
Asia
TWO PAGCOR MULTI-PURPOSE FACILITIES INAUGURATED IN TARLAC
Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Alejandro H. Tengco on Monday, March 18, led the inauguration of two newly completed multi-purpose centers in the towns of San Manuel and Victoria in the province of Tarlac.
Mr. Tengco said the state gaming agency provided a total of Php100 million for both of the two-story projects.
“Naglaan ang PAGCOR ng limampung milyong piso para sa bawat multi-purpose center sa bayan ng San Manuel at Victoria; mayroon itong iba’t ibang pasilidad gaya ng kusina, storage areas para sa relief goods, toilet at shower rooms, lactating rooms at maluwag na activity area para sa iba’t ibang gawain,” he said.
The PAGCOR chief said that because the Philippines is very vulnerable to climate change, “typhoons, floods and earthquakes are common occurrences that we must always be prepared for.”
However, he stressed that while the buildings are primarily designed as temporary shelters during emergencies, the structures can be used for various socio-civic activities, too.
“During the height of the pandemic, when the project was rolled out, there was a high demand for quarantine and evacuation facilities. But now, there is more sense to call these as multi-purpose centers rather than just evacuation facilities,” Chairman Tengco said.
“You may use this facility as your social hall, events area, and livelihood training center. You may also use this building to generate revenues for the local government,” he said.
During the event, Chairman Tengco also introduced PAGCOR’s upcoming flagship programs which include school buildings for public schools, e-learning centers, community wellness centers, and socio civic centers nationwide.
“These upcoming flagship projects are designed to create lasting impact on the lives of ordinary Filipinos,” he said. “These are just some of our nation-building efforts because as you are all aware, PAGCOR is the third largest revenue contributor to the national coffers.”
San Manuel Mayor Doña Cresencia Tesoro thanked the PAGCOR chief for the agency’s support.
“We are grateful that PAGCOR saw our need. This multi-purpose center is so far the biggest project that we have seen in San Manuel, and this is proof of PAGCOR’s commitment to serve the Filipinos,” she said.
“We thank everyone who made this dream come to life. Rest assured that we will use this to enrich the lives of our people and the generations to come,” Tesoro added.
Board Member Harmes Sembrano of the 2nd District of Tarlac also expressed gratitude to PAGCOR for funding the two-story multi-purpose facility in Victoria.
“With our limited resources, we cannot afford to fund all programs that will be beneficial to the people of Tarlac. But because of PAGCOR’s help, we have this new multi-purpose facility which will serve not only the locals of Victoria but also those from neighboring towns,” Sembrano said.
PAGCOR has thus far completed and inaugurated 38 multi-purpose buildings in different parts of the country while 34 others are still under construction.
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