Tag Archives: SINGAPORE

GVC reduces net debt by selling payments processing business

GVC - Copyright: magurok / 123RF Stock Photo

GVC has agreed to sell its payments processing business Kalixa Group to Singapore-based global payments operator Senjō Group for a total consideration of €29.0 million payable in cash on completion. Prior to completion, an amount equal to the free cash (over and above €2.1 million) in the Kalixa Group will be retained by GVC by way of dividend. The sale …

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Tabcorp and German Tote to pool totalisators

Germany’s totalisator is the latest to join Tabcorp’s multi-billion dollar wagering pools, following an agreement completed between Tabcorp and German Tote. German Tote is majority-owned by French wagering operator Pari Mutuel Urbain (PMU), while German racetracks (BGG Betriebsgesellschaft der Galopp-Rennvereine mbH) also have a minority stake. The deal will involve the German Tote taking all Australian thoroughbred and harness racing and co-mingling their …

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Derivative asset declines & XE impacts see Genting Singapore hit the red

Exchange rate impacts combined with a decline in derivative asset values have swung Getting Singapore into the red, as the Asian gambling operator declared combined losses of SGD $16.9 million (£7.7 million) for its Q2 2015 performance (period ending 30 June). Ahead of its performance update, Genting governance had issued a profit warning to the Singapore stock exchange. Genting would …

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Openbet to work with Singapore Pools

Singapore’s PAP government one of the strictest purveyors of anti online gambling/betting laws in the world, could open its market to legalised sports betting by allowing the Singapore Pools and Singapore Turf Club to seek exemption of its Remote Gambling Act (RGA). The Singapore Ministry of Home Affairs has confirmed that the governance of both state owned gambling enterprises have …

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SafeCharge targets Asia with 2C2P link up

Payment technology firm SafeCharge has agreed to enter into a strategic partnership with South East Asia-focused payment services company 2C2P. The strategic partnership is expected to extend SafeCharge’s technology product offering to 2C2P’s merchants being, mainly, travel businesses and retailers in South East Asia. Separately, the company has completed a minority investment in 2C2P. The Group has begun the process to connect …

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Warwick Bartlett on tax – The Only Way is Up

 Warwick Bartlett, CEO of Global Betting and Gaming Consultants, discusses how government’s approach taxation means that rates are more likely to go up than down. The most pleasing sight at ICE 2015 was to see some of the younger companies which two years ago took the smallest booths are now spending upward of £250,000 on impressive stands.  Such companies have …

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Singapore sanctions tough Remote Gambling Act

Singapore’s government is set to toughen its stance on unlicensed online gambling operators, as it introduces its Remote Gambling Act next Monday 2 February. The new set of laws approved by the country’s Ministry of Home Affairs (MHA) will target online payment transactions and ISP blocks to unauthorised online gambling websites. Singapore had first outlined severe amendments to its gambling …

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Risky business – why investors should beware grey market operators

Scott Longley, editorial director at Regulus Insights, analyses the concept of risk for dotcom operators and their investors. The 9% share price fall that prompted Playtech to issue a stock exchange statement late last week was only the most recent example of how listed gambling companies suffer more than most from the financial market phenomenon of risk on/risk off. This …

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Singapore moves to ban offshore gambling

Singapore government officials are examining the introduction of a state Bill to target unregulated remote gambling operators. The Remote Gambling Bill tabled this Monday, introduces governmental/legal definitions on what constitutes remote gambling targeting Singaporean citizens. The Remote Gambling Bill which was composed by several Singaporean government and business ministries aims to shed insight into policing measures and punishing illegal gambling …

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Online experts lined up for Macao Gaming Summit

Organisers of the upcoming Macao Gaming Summit, which takes place alongside the Macao Gaming Show at the Ventian Macao, have confirmed a speaker line-up consisting of many of the leading authorities on gaming in Asia. The 2014 Summit, whose theme is ‘Asian Gaming: Looking beyond the Horizon’, will feature a hand-picked line-up of speakers all of whom have a detailed …

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