Betfred shifts from Sharp Gaming to in-house technology

Gamingtec, a provider of iGaming solutions, is marking its debut in the market. Speaking with SiGMA News during the ASEAN Gaming Summit, Andrei Beu, Commercial Director of Gamingtec, shared insights into the company’s first event in Asia. "This is our first event in Asia, [and we are] aiming to establish a presence and introduce our brand," Beu stated.  

Gamingtec is a global company offering white label and turnkey solution, focusing on customization and partnership.  

Beu told SiGMA News that the move into Asia presents both challenges and opportunities for Gamingtec.  

"We see ourselves as a global company without boundaries. We are here to establish a foothold and penetrate the Asian market," Beu noted. He highlighted the company's live operations in Japan and the complexities of navigating its highly regulated environment. "Japan has great potential, but compliance with government regulations is crucial for success," he said. 

Discussing the regulatory environment in the , Beu was optimistic. "The Philippine iGaming scene is very welcoming, with high availability for licences. We hold a PAGCOR licence, and the regulatory process was straightforward compared to Europe or the US," he commented.  

Beu emphasised that Gamingtec is prepared to comply with any regulatory changes, ensuring a stable and conducive environment for their partners. 

Looking ahead, Beu expressed confidence in the growth of the iGaming industry in Asia.  

"The market is growing steadily and consistently. Like Latin America, where regulation spurred immense growth, Asia is poised for significant development," he observed. Beu foresees more markets becoming regulated and attracting investment, creating a vibrant iGaming ecosystem in Southeast Asia. 

"Expect to see more of Gamingtec in Southeast Asia. We aim to be perceived as a successful provider and partner," Beu concluded. 

is embarking on a strategic shift beyond casinos and gambling. The city-state plans to diversify its revenue streams and reduce its dependence on gaming revenue. This decision comes in the wake of Director Xia Baolong’s recent official visit to Macau and is a significant development in the region’s economic landscape. According to Chief Executive Ho Iat Seng, the gaming industry accounted for about 36 percent of Macau’s GDP in 2023, with the rest being non-gaming elements.

While it is estimated that the share of GDP from the gaming industry will increase in 2024, the government aims to maintain the share at 40 percent or below. To achieve this, Macau is implementing the “1+4” appropriate economic diversification strategy. This strategy aims to enrich function as “One Centre” for integrated tourism and leisure, while facilitating the development of four nascent industries. These include the ‘Big Health’ industry, modern financial services, high and new technology, and convention and exhibition, sports, and the commercial and trade industries.

This strategic shift was further emphasized following the seven-day official visit by Mr Xia Baolong, the Director of the Hong Kong and Macao Work Office of the Communist Party of China (CPC) Central Committee and the Director of the State Council’s Hong Kong and Macao Affairs Office. In addition to this, recent updates in travel, such as the NIA’s new measures for mainland travellers and the inclusion of 8 new cities under the FIT scheme, are set to benefit not only gaming visitors but also visitors for non-gaming activities and business travels.

Despite these plans for diversification into non-gambling sectors, gambling revenue still remains a significant portion of Macau’s revenue, with a 26 percent increase in Gross Gaming Revenue (GGR) compared to the same period last year. This underscores the challenge and the opportunity that lies ahead for Macau as it navigates its path towards economic diversification.

Greenlite Ventures has announced its acquisition of NoLimit Technology Holdings. The deal, whose financial details remain undisclosed, is set to conclude following a due diligence period of 30 to 45 days.

NoLimit, a company known for its gaming-related products including the NoLimit Betting Exchange and a crypto-powered Daily Fantasy Sports (DFS) platform, is now part of Greenlite’s expanding portfolio. Greenlite has also expressed its intention to launch a user-friendly cryptocurrency exchange that complies with relevant laws in the future. Greenlite chairman Russell Elbaum expressed his excitement about the acquisition, stating that the launch of their new Sports Podcast Network, led by Defo’s ‘Bury Your Bookie’ show, is set to drive significant daily traffic to NoLimit’s exchanges and platforms. He believes that this will allow them to leverage their celebrity partners and abundant media opportunities to establish a powerful niche in the rapidly growing $300 billion industry. Subtitle: “Continuity and Innovation: The Road Ahead” Post-acquisition, NoLimit founder Rafael Groswirt will continue to lead the business.

He sees Greenlite’s resources and platforms as a means to compete with industry leaders and predicts that Greenlite’s sports and media connections will enable partnerships and white-label collaborations with major players in the sector. Founded in 2014, NoLimit started as a crypto-focused online gaming business based in California. Its first product was a cryptocurrency called NoLimitCoin, designed to support fantasy sports platforms, including NoLimit’s own system. The company has also integrated AI with its cryptocurrency and other products, marking a new era of excellence and innovation in the online sports betting industry.

As Groswirt stated in 2023, “As NLTH integrates AI with our NoLimitCoin cryptocurrency, we are proud to pioneer a new era of excellence and innovation in the online sports betting industry.”

With this acquisition, both Greenlite and NoLimit have opened the doors to investors, partners, and enthusiasts to revolutionise the sports betting landscape.

The Dutch Online Gambling Association (NOGA) has expressed serious concerns over the proposed increase in gambling tax from 30.5 percent to 37.8 percent by a potential new coalition government in the Netherlands. This coalition comprises the Party for Freedom (PVV), the Party for Freedom and Democracy (VVD), the New Social Contract party (NSC), and the Farmer-Citizen Movement (BBB).

The proposed tax increase, part of the “budgetary appendix of coalition agreements,” is expected to bring an additional €202 million annually to the state treasury. However, NOGA fears that this financial gain might be overshadowed by significant social damage.

Peter-Paul de Goeij, the general director of NOGA, warns that the tax hike could endanger the viability of the He notes that channelization to licensed operators is already levelling off, and the increased tax could push Dutch consumers towards illegal providers who do not pay taxes.

The Dutch Advisory Board on Regulatory Burden (ATR), an independent watchdog, has questioned the need for proposed new regulations for online gambling. They argue that these new requirements could represent an unnecessary technical burden for operators.

In April, a narrow majority of MPs in the Dutch House of Representatives voted in favour of motions to ban online slots and prohibit online gambling advertising. Other motions call for mandatory financial risk checks and. These votes do not guarantee the adoption of these measures, as Franc Weerwind, the minister for legal protection, will review the proposals and decide whether they should be approved

The proposed tax increase and regulatory changes mark a critical juncture for the Dutch gambling industry. While the tax hike could potentially fill state coffers, the social implications and impact on the legal gambling market cannot be ignored. As the Dutch gambling landscape continues to evolve, all eyes will be on the new coalition government’s next moves and their long-term effects on both operators and consumers.