Asia
Spinola Gaming to enter LATAM and Asia with adapted range of lottery solutions
After a year of development, innovation, and big contract signings in Africa for Spinola Gaming, the lottery solutions provider has announced an updated range of products in preparation for upcoming contract signings in LATAM and Asia.
Spinola Gaming will enter LATAM and Asia this year armed with an updated range of lottery solutions specifically adapted for the characteristics of emerging markets.
Following a strong 12 months in Africa, the company has been fine tuning its products to suit the needs of existing operators in such markets, offering digital solutions to operators that have traditionally got by on a paper-based system.
Throughout 2019, Spinola Gamingās solutions have been integrating both digital and retail operations in Africa, resulting in seamless lottery management that has bridged the gap between land-based and online operations.
This has not gone unnoticed by operators in LATAM and Asia, with Spinola Gaming securing contracts for 2020 to start the year as strongly as it left off.
āWe are very excited to announce we will be entering the LATAM and Asian markets in 2020,ā commented Ade Repcenko, CEO of Spinola Gaming. āThese markets show huge potential for immediate exponential growth over the coming years due to the sheer size of the market and their appetite for high-scale jackpots, their adoption to smart phones, making player access to mobile higher than ever before. The now widespread availability of 4G improves our ability to deliver high quality, high jackpot solutions to these markets.ā
After massively expanding its global reach over the last 12 months, Spinola Gamingās offer of fast time to market and low cost to entry has appealed to governments in emerging markets, who are now seeing the value in creating their own standardised lotteries to eliminate black markets. The low stake, large jackpot nature of lotteries has long been popular in many jurisdictions across Africa, LATAM and Asia, but a lack of internet access and retail solutions has limited operators in what they can offer to players. With the rise of smartphones and 4G, this is quickly changing. Employing specially adapted solutions from Spinola Gaming, operators in emerging markets can now give their players more ways to play the lottery than ever before, making it easier for them to buy a ticket, and easier to see if theyāve won.
Along with sophisticated player management tools, fully customisable templates and a wide range of game content, Spinola Gaming allows operators to easily manage their promotion and bonus campaigns through a robust, secure and scalable back office that handles all aspects of day to day operations, including payments and a live editor suite. For land-based outlets, the company provides full retail management, from POS and terminals to interactive billboards that further promote the games.
As 2020 begins, Spinola Gaming has already made a strong impression in the jurisdictions that will shape the global lottery landscape over the next decade, providing operators with specially adapted solutions to meet the ever-increasing demands of the worldās fast-emerging markets.
Asia
QTech Games wins Online Casino Provider of the Year at SPiCE Awards
QTech Games, the leading game distributor for all emerging markets, has won the Online Casino Provider award at the annual SPiCE Philippines Awards 2024 in Cebu.
The Online Casino Provider of the Year celebrates the supplier or platform which has created or corralled the most innovative casino games tailored for the Asian igaming industry over the past 12 months. And QTech Games was again chosen by the judges to have superseded and surpassed an array of proven performers in this category, fending off strong competition from other leading lights, including international powerhouses and local champions.
This sought-after award is perennially given to the best overall online casino provider in the Asia space and is awarded at a coveted ceremony held at the Shangri-La Mactan. This Awards Gala forms part of a wider must-attend conference that showcases a dynamic mix of panel discussions, masterclasses and networking events which bring together sectoral leaders and pioneers in the Southeast Asian gaming and entertainment landscape.
More broadly, the SPiCE Philippines Awards judging panel voted on some of the most consequential categories of igaming activity, denoting progressive domains that are shaping the industry’s future across the region.
QTech Gamesā CEO, Philip Doftvik, said:Ā “Weāre naturally delighted to have walked off with another flagship award for the best digital casino provider ā and weāve also been promoting QTech Hybrid, our breakthrough retail solution, to great effect at the Shangri-La Mactan. Itās already been a great week.
“This win is a glowing tribute to our sedulous team at QTech Games, and to the constantly growing group of innovative suppliers that our platform represents. Itās a truly collaborative effort.Ā We remain committedĀ to rolling out high-quality content that drives revenue for our worldwide partners ā from Asia to Africa, and Eastern Europe to LatAm.”
Asia
Philippine Senator Pushes for Inquiry into Banksā Role in Pogo Funding
Philippine Senator Sherwin Gatchalian has proposed Senate Resolution 1193 to investigate the failure of local banks to detect POGO-related suspicious transactions tied to criminal activities, following the case of former Bamban, Tarlac Mayor Alice Guo.
Gatchalian, in his resolution, highlighted bank transactions involving Guoās companies, which amounted to hundreds of millions of pesos and allegedly funded the construction of a POGO hub in Bamban. The amount far exceeded the financial capacity reflected in the companiesā financial statements.
He pointed out a significant increase in cash flows, check disbursements, and transactions involving Guoās accounts, peaking in 2020āan anomaly given that the COVID-19 pandemic had severely disrupted businesses and economies worldwide.
Gatchalian noted that despite these large transactions, the banking system failed to flag them as suspicious. He raised concerns about the banksā inability to report such dubious activities, questioning the effectiveness of their internal controls and procedures for identifying and reporting suspicious behaviour.
The senator emphasised that financial institutions are responsible for analysing financial data to detect transactions that may indicate money laundering.
These circumstances, according to Gatchalian, raise doubts about the adequacy of current Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regulations and guidelines for banks and financial institutions.
Gatchalian also pointed out that the Philippines remains on the Financial Action Task Force (FATF) grey list. The country must improve its AML/CTF efforts, including prosecuting money laundering and terrorism financing, addressing beneficial ownership information and strengthening cross-border declaration measures.
While President Ferdinand Marcos Jr. has instructed all government agencies to meet the necessary requirements to remove the country from the FATF grey list, Gatchalian stressed that private sector compliance is equally crucial to strengthening the countryās AML/CFT regime. This includes increased adherence to obligations, such as reporting covered and suspicious transactions.
Asia
Nazara Technologies raises INR 900 Crores and increases stake in Absolute Sports (Sportskeeda) to 91%
Nazara Technologies Limited (BSE: 543280 NSE: NAZARA), Indiaās leading diversified gaming and sports media company, today announced its largest fund raise to boost its growth trajectory. The companyās board has approved a preferential equity issue to raise INR 900 crores, subject to shareholder and regulatory approvals. This capital infusion will fuel strategic acquisitions, fund business expansion, and enhance the companyās ability to seize new growth opportunities.
The preferential equity issue amounting to INR 900 crores will be placed with marquee investors such as SBI Mutual Fund, Junomoneta Finsol (an associate of Plutus Wealth), Think Investments, Discovery Investments, Mithun and Siddharth Sacheti, Cohesion Investments, Chartered Finance and Leasing, Ratnabali Investments and Aamara Capital, further strengthening Nazaraās financial foundation for long-term expansion. These shares will be subject to SEBI regulations and lock-in requirements as per Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018.
In a parallel development, Nazara also acquired an additional 19.35% stake in Absolute Sports Pvt. Ltd., the parent company ofĀ Sportskeeda, for INR 145.5 crores, with 50% of the consideration paid in cash and the remaining amount in stock. With this, Nazara now holds a 91% ownership stake in Absolute Sports, solidifying its leadership position in the sports media domain.
Sportskeeda, Absolute Sportsā flagship brand, reaches millions of sports fans globally each month, with significant traction in India and the U.S., where it ranks among the top sports platforms. In addition, Absolute Sports has recently expanded by acquiringĀ Ā Pro Football NetworkĀ (PFN),Ā SoapCentral, andĀ Deltiaās Gaming, further diversifying its sports and entertainment portfolio.
Nitish Mittersain, CEO & Jt MD of Nazara Technologies Limited remarked āNazara has demonstrated its ability to attract top-tier investors who believe in our long-term vision of establishing Indiaās first globally respected gaming powerhouse. This INR 900 crores fundraise will be instrumental in accelerating our growth across key segments.Ā Additionally, increasing our stake to 91% in Absolute Sports (Sportskeeda) reinforces our leadership in the sports media landscape. The growth of Absolute Sports, from its early days as a startup to becoming a global media player, underscores our commitment to supporting innovative teams that consistently deliver transformational growth.
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