Neptune’s Board has announced that it has entered a preliminary agreement with Ocean Star under which the company would assign its right, title, interest and profit to Neptune Group under a Junket Agreement. Ocean Star runs no less than 11 gaming tables at City of Dreams VIP club generating an average rolling turnover of US $828 million (HK$6.43 bullion) per month for the past 12 months. The MOU is subject to due diligence being carried out on Ocean Star and its major shareholders to determine whether the investment will go ahead.
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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 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.
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.