Paradise Entertainment Ltd., which supplies gambling machines and operates the Casino Kam Pek Paradise, agreed to sell investor Chang Wang HK$60.5 million ($7.8 million) in stock warrants that could potentially make him the company’s second biggest shareholder. The 45.5 million warrants, to be sold at an issue price of 3 Hong Kong cents each, would give Chang the right to buy a new share for HK$1.30 a piece, equating to a 4.74 percent stake in the company if fully exercised.
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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.