Iao Kun Group, which owns VIP room gambling promoters, said it is looking for a new sponsor for its planned application for a listing on the Hong Kong Stock Exchange. It said the decision to terminate its previous sponsor was “in the best interest of all parties.” It says it’s now seeking a sponsor with more established market recognition and greater experience in such listings. The company also said turnover reached US$1.51 billion last month, up from US$1.47 billion a year ago. However, over the first 10 months, revenues fell 9 percent.
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The Puducherry union territory government has urged the union government to ban online gaming platforms and mobile apps, describing it as a necessity to protect the mental health of vulnerable people.
Singapore police have busted at least two illegal gambling operations in the past week, while across Asia authorities have moved to stamp out illicit activities, from raids on premier league matches in India, to illegal number forecasting in Malaysia.
The next edition of the AGB Webinar Series will look at the future of iGaming customer acquisition and retention, which has been going through a transition period over the last year.