SBC WGES Live Blog Wednesday – In conversation with the Chinese operators: an introduction to the Chinese way of making money
Session – WGES New Markets -16:30 CET
Topic – Examination of recent history M&A in gambling, with view to finding out growth through acquistion
Session Speakers – Geaspar Byrne, Head of Corporate Development, Strategic Planning and IR, AGTech Holdings Limited, Hong Kong, John Sun, Chairman & CEO, AGTech Holdings Limited, Hong Kong, Mr Adam Greenblatt, Group Corporate Development Director, Ladbrokes, United Kingdom ,Mr Fabio Celadon, Senior Vice President, Strategy & Corporate Development, GTECH Corporation, United States
Expert Asian gaming panel take a close and detailed look at the fast expanding Asian gaming market both in online and offline operations. What does it take to enter and break this market. Who has succeeded in increasing their presence in this lucrative market? What cultural intricacies will western facing operators face if they choose to operate in this market.
SBC Key Session Notes
- China although lucrative is a legislation minefield with various obstacles, operators must tread carefully in this new market. In china there are only two permitted lottery operators in china. One whose proceeds are diverted in part to social projects, and the other towards sports projects.
- John Sun AGTech points out that illegal market is still much bigger than legal market. He estimates market to be 10 times the size! Sun notes that this is a dominant issue, as there can be no level playing field with non regulated gaming operators and that it has further consequence on legal operations as their brands may be tarnished in association with betting and gaming.
- Fabio Celadon of GTECH comments that too many western operators have expected quick and big returns from the region. Patience is a crucial factor for success as gaming operators have a big learning curve with regards to any Asian market. Only operators with realistic long-term goals can survive, they also need to be prepared to appropriate a correct level of financing in order to get any success
Session Gallery – Coming Soon!