GR8 Tech brought home the ‘BEST WORKPLACE 2024’ award at the BIS SiGMA Americas Awards recently held in São Paulo, Brazil. 

According to the company, it was able to hold over 150 meetings with operators and other stakeholders. The company said these interactions have laid a solid foundation for GR8 Tech’s strategic expansion in the region and provided the team with significant insights into the evolving Latin American iGaming market. 

“Brazil is not synonymous with Latin America. Each country on the continent has its own unique characteristics,” Evgen Belousov, GR8 Tech CEO, said.  

Belusov elaborated that the most important thing to understand in the LatAm region is that it’s very diverse. There are significant cultural and operational differences that necessitate a localized approach such as, “Brazil’s rhythm is distinct; life starts in the afternoon, and business interactions reflect this laid-back pace. To thrive here, understanding and integrating into the local lifestyle is essential.” 

Belousov further discussed the Brazilian market’s competitive nature, highlighting retention strategies’ crucial role. “The churn rate is high as players frequently shift between operators lured by aggressive marketing. Hence, having robust retention mechanisms, such as real-time tools and enticing bonus mechanics, is crucial to maintaining a loyal customer base,” he added. 

For Yevhen Krazhan, Chief Business Development Officer of GR8 Tech, addressing compliance and market preferences is crucial. “Regulation is a hot topic, with a keen focus on product compliance. Moreover, while classic sportsbooks saturate the market, emerging interests lie in areas like fantasy sports and social gaming, which present new opportunities for differentiation and growth,” Krazhan said. 

Meanwhile, Thomas Carvalhaes, Senior Business Development Manager for the Latin America region, provided his expertise during the panel discussion “Understanding the demands and evolution of the B2B market”, highlighting the demand for localisation and intuitive technology. “In Latin America, where many markets are still learning the ropes of iGaming, the simplicity of the technology is key. Products need to be user-friendly to ensure they meet the expectations of a clientele that values straightforward and engaging gaming experiences,” Carvalhaes explained. 

Building on the insights and achievements from BIS SiGMA Americas, GR8 Tech is actively expanding its presence in Brazil and LatAm, establishing its reputation as a key player in the region. The company is also exploring opportunities in other global markets, with Asia as the next target at SiGMA Asia, scheduled for June 2-5 in Manila, Philippines.  

GR8 Tech said that this upcoming event presents another opportunity for the company to demonstrate the capabilities of its flagship GR8 Sportsbook platform and forge new partnerships in another diverse region. 

For GR8 Tech updates, check https://gr8.tech/. 

Upcoming SiGMA event: SiGMA Asia 2024, 2 – 5 June. Find all the details .

The is setting its sights on attracting approximately 15 percent more inbound tourists from the United States, recognizing the significant contribution of this “highly valuable” market to the nation’s tourism sector’s full recovery.  

In 2023, the Philippines welcomed over 903,299 visitors from the US, generating PHP35 billion (€567 million) in tourism revenue—the highest among the country’s top tourist markets. This significant contribution underscores the importance of the American market in driving tourism receipts. 

In a report by the Philippine News Agency, Francisco Hilario Lardizabal, Philippine Tourism Director-Attache in New York, emphasized the strategic importance of the US market, highlighting that despite fewer arrivals, their spending power significantly boosts tourism revenue. He said that many inbound US travellers to the are former Filipino citizens, with a primary motivation to visit friends and relatives, leading to longer stays and higher expenditures. 

Lardizabal expressed confidence in achieving a 15 percent increase in inbound US visitors compared to 2023 figures. The Department of Tourism (DOT) is adopting a multifaceted approach to attract the market, including forging partnerships, enhancing training for travel agents, participating in B2B travel trade events, and organizing curated familiarization tours. 

A shift in US traveller demographics has been observed, with millennials showing increasing interest in the Philippines. The DOT aims to address the needs and preferences of this demographic by focusing on immersion or experiential travel, wellness tourism, workcation, premium travel, solo travel, and adventure and sports. 

Lardizabal highlighted emerging travel trends in the US market, such as increased interest in sports and activities like hiking, horseback riding, cycling, and scuba diving. These preferences present opportunities for the Philippines to tailor its offerings to cater to the evolving needs of US travellers, thereby further enhancing its appeal as a tourism destination. 

Upcoming SiGMA event: SiGMA Asia 2024, 2 – 5 June. Find all the details .

, has decided to retract its advertisements from various locations, including the London transport network. This move comes after a wave of public disapproval over the nature of the ads and criticism directed at London’s mayor, Sadiq Khan, (pictured above on the right), for permitting the ads to be displayed.

As the mayoral election looms, Susan Hall, (pictured above on the left), Khan’s Conservative opponent, has joined forces with a leading clinician and a group of peers to question Transport for London’s (TfL) perplexing decision to approve the campaign. TfL has a history of rejecting promotions featuring artisanal cheese, a poster for a play depicting a Victoria sponge cake, and the Wimbledon tennis tournament’s renowned strawberries and cream, arguing that they encouraged unhealthy eating habits.

However, despite Khan’s 2021 manifesto commitment to prohibit gambling ads on London’s transport network, TfL has continued to accept promotions for bookmakers and online casinos. This is pending an independent review of the relationship between advertising and gambling-related harm.

Recently, on the London Underground, trains, and buses, with slogans like “This carriage is now a casino”. Some black cabs even carried the slogan “Fancy a spin?”. The company stated that the ads “could be interpreted in a different manner to the brand position we aim for”. This decision is believed to be a reaction to criticism of the manner in which the ads endorse online casino games. According to NHS survey data, these games are linked with higher harm rates than most other gambling products. TfL stated that the 888 ads adhered to the advertising regulator’s broadcasting code and its own policies, including the stipulation that the ads should not “trivialise gambling”.

Hall, Khan’s main competitor in the mayoral race, expressed confusion at Khan’s inconsistent stance on what advertisements he permits and bans. She questioned why he would ban ads featuring cheese or strawberries and cream, while appearing indifferent about vaping and gambling ads. Professor Henrietta Bowden-Jones, who supervises the National Problem Gambling Clinic and is acknowledged as one of the UK’s leading experts on addiction, also criticised Khan after seeing one of the ads on the tube.

In a letter to TfL’s commissioner, Andrew Lord, the House of Lords group Peers for Gambling Reform argued that the “aggressive” ads contradicted Khan’s manifesto pledge. The group’s chair, Don Foster, stated that TfL’s position on gambling, compared to junk food ads, was “clearly inconsistent”. TfL’s review of its policy on gambling ads has enabled companies like 888.com, chaired by Labour peer Jonathan Mendelsohn, to launch high-profile campaigns. Over the past two years, gambling firms have spent nearly £1.8 million to advertise on the network.

888.com has been hit with some of the largest fines in the history of the British betting industry, including a £9.4 million penalty in 2022 for multiple failings that resulted in customers incurring massive losses during the height of the Covid crisis.

In 2017, it was fined £7.8 million, then a record penalty, for similar failings. It also owns William Hill, the current record holder for the highest penalty ever issued by the Gambling Commission, a £19.2 million fine imposed in 2023. While TfL accepted 888’s ads, it has previously banned images promoting food considered unhealthy due to its high fat, sugar, or salt content. Ads deemed unacceptable included one featuring artisanal cheese and a promotion for the Wimbledon tennis championships that included strawberries and cream.

In Italy, a significant shift in advertising policy occurred in 2019 when the government implemented a decree of dignity, that would change the landscape of advertising in the country. This decree led to the banning of almost all forms of marketing related to a particular industry. This sweeping ban covered various mediums, from television and radio to print and the internet. The decision was driven by a study that revealed a startling statistic – 3 percent of the country’s population was grappling with harm related to this industry.

Meanwhile, other European nations were also following. Countries like Germany, Spain, Belgium, and the Netherlands were tightening their rules around this industry’s advertising. They recognized the need for new regulations, not just for traditional forms of this industry but also for the emerging digital platforms. These included online platforms, virtual games, and even poker matches.

Across the Atlantic, the United States had a different approach. Each jurisdiction had its own authority and statutes governing this industry. However, there were general rules that applied across state lines.

Melco Resorts & Entertainment has announced its strategic plan to primarily focus on the Indian and Sri Lankan market with its casino venture in Sri Lanka. The company projects that the annual gaming revenues could soar up to US$250 million.

The Government of Sri Lanka has awarded This allows Melco to design and manage the casino and a portion of the hotel rooms at Sri Lanka’s US$1 billion Cinnamon Life Integrated Resort. The casino is slated to start operations in mid-2025.

During the company’s Q1 2024 earnings call, Lawrence Ho, Melco Chairman and CEO, shared his vision of Sri Lanka emerging as the Macau of Asia. He believes that by leveraging Sri Lanka, being the nearest gaming jurisdiction to India, can provide a unique gaming experience.

Geoff Davis, Melco Executive Vice President and CFO, added that India is undoubtedly the most intriguing feeder market with immense potential. While there is a certain level of domestic spending, the company’s objective will be to cater to those feeder markets in India and the wider region.

Davis anticipates that international play will eventually make up two-thirds of the company’s Sri Lankan revenues, with GGR comfortably in the US$200 million to $250 million range annually.

Melco has plans to invest US$125 million to design the casino, which Ho described as a “small bet for a potentially huge opportunity.”

The company, in collaboration with local partner John Keells, is significantly raising the bar to a world-class standard with this integrated resort and the casino they’re designing. While it’s a bit early to provide specific returns, the company is expecting returns that are very attractive and shareholder-friendly, that will also enhance shareholder value and probably offer returns that would be challenging to achieve in most mature markets.

This strategic move by Melco is seen as an excellent method to tap into a market with enormous potential in a capital-efficient manner.

Comparative study of Sri Lanka and Macau

Sri Lanka’s Flourishing Gaming Industry: Sri Lanka’s gaming industry, especially the online gaming sector, has been witnessing substantial growth in recent times. The surge in mobile gaming is attributed to the popularity of smartphones and affordable mobile data plans. The government is actively working towards establishing a regulatory framework for the online gaming industry. However, the industry faces a significant challenge due to the low internet penetration rate in Sri Lanka. Despite these challenges, the rising disposable income in Sri Lanka has led to an increase in spending on leisure activities, thereby driving demand for online games.

Macau’s Thriving Gaming Industry: On the other hand, Macau, often referred to as the “Las Vegas of Asia,” is the only region in China where gambling is legal. The gaming industry in Macau is one of the most vital industries, providing over 54,000 job opportunities. Macau’s gaming industry generated 19.3 billion patacas (US$2.37 billion) in its first monthly tally of gross gaming revenue (GGR) in 2024.

Comparative Analysis: While Sri Lanka’s gaming industry is still in its growth phase with a focus on online gaming, Macau’s gaming industry is more mature and primarily centered around physical casinos. Both markets possess their unique strengths and opportunities. It will indeed be intriguing to observe how these industries evolve in the future.