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Monaco, the world’s second-smallest country and the richest microstate, is known for its glamour, wealth, and the iconic Monte Carlo Casino. On the other side of the world, Macau, a special administrative region of China, has earned the title of the “Las Vegas of Asia,” boasting the world’s largest casino, operated by Galaxy Entertainment Group.
In a strategic move to attract Asian investors, Frederic Genta, Monaco’s Secretary for Attractiveness, Development, and Digital Transformation, (pictured above), recently visited Macau Genta’s mission was clear: to leverage the close relationship between Monaco and Galaxy Entertainment Group to pitch to investors in the Greater Bay Area, which spans Macau, Hong Kong, and nine cities in China’s Guangdong province.
In 2015, Galaxy paid a modest €42.4 million for a 5 percent stake in Societe des Bains de Mer (SBM), a Monaco government-controlled company that owns the Monte Carlo Casino. This investment marked the beginning of a fruitful partnership, with Galaxy and SBM collaborating on various ventures, from exploring new casino opportunities across Asia to co-sponsoring cultural exchanges between Monaco and China.
Monaco’s Secretary for attractiveness woos Asian investorsGenta’s visit to Macau was not just about courting big businesses. He also aimed to attract the ultra-wealthy whose riches are managed through so-called family offices. After spending two days in Macau, Genta crossed the Pearl River Delta for a similar round of meetings in Hong Kong, organized by Galaxy.
Monaco’s relationship with China is noteworthy. Despite geopolitical tensions, Monaco, which is not a member of the European Union, maintains better relations with China than some of its neighbours. In 2019, it became the first European country to roll out a 5G phone network using technology supplied by Huawei, a company that the U.S. and some of its allies have shunned on security grounds.
The partnership between Galaxy and SBM is seen as a major asset as Galaxy explores new markets. Casino operators in Macau and those seeking entry to places such as Japan, Thailand, and the Persian Gulf are under increasing pressure from governments to reduce their dependence on gambling revenue. Instead, they are expected to transform their businesses into “integrated resorts” offering more non-gambling attractions.
SBM, despite holding a monopoly in one of the world’s most famous gambling hubs, last year earned 68 percent of its revenue from non-gaming activities, mostly from luxury hotels. Monaco also hosts a legendary annual Formula One race and the regular Monte Carlo Tennis Masters tournament, attracting some of the world’s best players.
The collaboration between Monaco and Macau is a testament to the potential of strategic partnerships in the global casino industry. As Galaxy’s representative on the SBM board, Troy Hickox, aptly described Monaco, it is “essentially the world’s first iteration of the luxury integrated resort.” This partnership is a high-stakes bet that could redefine the future of the global casino industry.
Get ready to wrap up BIS SiGMA Americas 2024 with a bang as we gear up for the official party on April 25th. And guess what? We’re already counting down the days until we return in 2025, making this the perfect opportunity to celebrate new beginnings.
Open to premium and platinum ticket holders, the Tokio Marine Hall is transforming into an entertainment wonderland, setting the stage for a sizzling cabaret and casino-themed closing party, generously supported by 1XBET. Brace yourself for a night you won’t forget, with sultry burlesque performances and decadent lounge areas buzzing with play-for-fun game tables.
Welcome canapes and drinks are served between 8.30 pm and 9.30 pm in the foyer, before the main hall opens for the Cabaret show – which kicks off at 9.30 pm.
As the clock ticks towards the second half of the evening, get ready to sway to the beats of none other than the global DJ duo, Savage and SHe – they play from midnight to 2 am, followed by DJ MRTN who hits the decks from 2 am to 2.30 am.
Located just 10 minutes away from the Transamerica Expo Centre in the vibrant Santo Amaro district, the Tokio Marine Hall has seen its fair share of iconic moments. From captivating plays to legendary performances by national and international stars including Maria Bethânia, Nightwish, Ana Carolina, Ghost, Hanson, David Byrne, Pentatonix and many more, this venue has set the stage for unforgettable experiences time and time again.
So, let’s raise the roof, celebrate our successes, and dance the night away in style! See you there!
BIS SiGMA Americas
Held from the 23rd to 25th April, at the Transamerica Expo Centre in São Paulo, the 3-day event will connect the LatAm industry, bringing regional operators, streamers, influencers, affiliates, and policy makers – including key officials – together for for one of the biggest Gaming events in the region this year. Follow the agenda by visiting our website.
The NBA’s relationship with gambling is causing concern among players and fans. The legalization of sports betting in most US states has led to the NBA embracing this change, turning a once taboo topic into a significant revenue source. ESPN’s financial expert, Bobby Marks, stated that the NBA is projected to receive $167 million in revenue from casinos and betting, an 11 percent increase from last season.
ESPN has integrated sports betting into its platform with the launch of ESPNBET, its own sportsbook, in November 2023. This integration has driven new business in sports, but it has also led to frustrations among NBA fans due to in-game reviews, challenges, and lengthy replays. The NBA, which lost substantial money during the pandemic, sees gambling as a potential cash influx and has two official betting partners.
Impact on players and fansHowever, the league’s promotion of responsible gambling is questioned as there are approximately three million problem gamblers in the US. The National Council on Problem Gambling reported a 30 percent increase in the risk of gambling addiction in the general population between 2018 and 2021. The prevalence of betting ads on NBA broadcasts is unlikely to help this situation.
Former NBA star Rex Chapman shared his struggle with gambling addiction in his memoir, “It’s Hard for Me to Live with Me”. His story is not uncommon among athletes and non-athletes. The NBA’s alignment with gambling is so pronounced that ads for the gambling company, Bet365, were displayed during a recent game between the Golden State Warriors and San Antonio Spurs.
The close partnership between the NBA and sportsbooks is seen as dangerous by some within the league. Cleveland Cavaliers coach JB Bickerstaff reported receiving threats from gamblers, and Indiana Pacers All-Star guard Tyrese Haliburton sought professional help for his mental health, stating that he feels like a prop for people to make money on DraftKings.
This situation marks a significant shift from earlier NBA history, before legal gambling became widespread and the league aligned itself so closely with betting.
This June, from the 6th to 8th, SiGMA is whisking away 70 top affiliates with Asian traffic to the Philippine island paradise of El Nido for an affiliate retreat.
Exclusively hosted by five operators and a games provider, guests will spend two nights in a luxurious resort on El Nido. One of the best island beaches in the world, there’s no shortage of hidden nooks to explore, with vibrant coral reefs, white sands and breathtaking limestone cliffs making this a bucket list destination.
A packed agenda includes plenty of networking opportunities. From a sunset reception marking the close of the first day to highlight excursions and activities, such as an island adventure and pool party, the retreat offers an ideal chance for affiliates and operators to strengthen both old and new friendships, paving the way for exciting new business relationships to blossom.
To secure a coveted spot on the SiGMA affiliate retreat guest list, register your interest here.
About SiGMA Asia
SiGMA Asia takes place between the 2nd and 6th of June at the SMX Convention Centre – Manila’s largest expo venue. SiGMA will connect its vast network in the West with Asian suppliers, operators, and affiliates, opening up new opportunities for business, and providing a space for premium networking for an expected turnout of 20,000 delegates.
SiGMA Asia’s double decker expo floor features a diversified portfolio of B2B and B2C brands, as well as a number of land-based exhibitors – making it one of the biggest gaming shows in Asia. The event will also focus on the emerging technologies, bringing cutting-edge tech, such as AI and Blockchain to the floor.
Two full days of conference provide a valuable platform for knowledge sharing and debate. A guestlist of VIP speakers will address topics ranging from the regulatory landscape to the integration of the emerging technologies, while a series of competitive startup pitches help bring exciting new companies and ideas to light.
With official endorsements from PAGCOR and CEZA supporting the event, delegates can expect an exclusive line-up of guests this June, including 3,000 operators and over 350 top speakers.
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