Philippine gaming company LRWC records revenue drop in 1Q

, a casino operator in Cambodia and Vietnam, has reported a significant uptick in earnings during the first quarter of 2024. The company's quarterly report indicates a steady increase in operational performance, with earnings nearly reaching pre-COVID levels. 

Donaco highlights that visitation numbers have stabilized, reaching levels consistent with the previous quarter. This stabilization reflects the gradual return of tourism in and Vietnam to pre-pandemic levels, signalling positive momentum for the company. 

The group achieved strong financial results, reporting a group net revenue of AUD12.66 million (€7.7 million) and EBITDA of AUD8.39 million (€5 million), marking a remarkable 66 percent increase over the last quarter. The quarterly report underscores the robust performance of Donaco's key operations. 

Donaco's DNA Star Vegas operation, situated on the Cambodia-Thailand border, recorded substantial growth, with net revenue reaching AUD8.82 million (€5.3 million) and property-level EBITDA of AUD6.63 million (€4 million). The implementation of a membership loyalty program in January 2024 contributed to the operation's success. 

Similarly, Donaco's Vietnam operation, Aristo International Hotel (Aristo), experienced revenue and EBITDA growth driven by stabilized tourism, particularly from China. Aristo reported net revenue of AUD3.84 million (€5.3 million), reflecting a 6.4% increase from the previous quarter. 

The company maintains a strong financial position, ending the period with a robust cash position of AUD28.99 million (€17.6 million), marking a 15.4% increase from the previous quarter. Donaco emphasizes its focus on stringent financial management to support sustainable growth. 

In its quarterly report, Donaco's Non-Executive Chairman, Porntat Amatavivadhana, expressed confidence in the company's outlook, citing continuous improvement across all segments. Additionally, the company anticipates significant growth post-2025, with the development of the new Sapa airport in Lao Cai expected to drive a substantial increase in visitation. 

Upcoming SiGMA event: SiGMA Asia 2024, 3 – 5 June. Find all the details .

The sports betting compliance industry has experienced some M&A activity, with US Integrity and Odds On Compliance merging to form a new entity known as Integrity Compliance 360 (IC360). The merger was announced by sports tech venture capital fund, SeventySix Capital, earlier this week. By combining its resources and expertise, IC360 will enhance its offer with a comprehensive suite of services.

IC360 will offer a combination of integrity monitoring services, compliance advising, and products to serve clients from both companies. This includes the four major American sports leagues, most US sportsbooks, and international clients in Europe and Brazil. One of the services offered by IC360 recently flagged illicit betting activity tied to Toronto Raptors player Jontay Porter, leading to his lifetime ban from the NBA. With a broader client base that includes major American sports leagues, US sportsbooks, and international clients, IC360 is on its way to becoming a leading player in the industry.

Despite the merger, it will be business as usual for clients of US Integrity and Odds On Compliance. The original products of each firm will continue without interruption, now unified under the IC360 brand. This includes the Integrity Monitoring dashboard, PlayBook AI, and ProhiBet.

How are things going to change with this merger? For example, the collaboration on ProhiBet, a tool that monitors sports betting compliance for athletes and team personnel, is most definitely a sign of more innovative solutions to come that will shape the industry standards, particularly around transparency, accountability and ethical standards.

The merger of US Integrity and Odds On Compliance was initially announced last October, following the collaboration on ProhiBet, a tool that monitors sports betting compliance for athletes and other team personnel.

IC360 aims to be a one-stop shop of regulatory technology solutions and compliance expertise for the rapidly evolving sports betting and gaming industry. Wayne Kimmel, the managing partner of SeventySix Capital, stated that the merger is a significant event in the evolution of the sports, media, and entertainment asset class. He explained that IC360’s commitment to ensuring transparency, accountability, and ethical practices across the global sports betting and gaming industry, which is worth hundreds of billions of dollars,

The leadership of IC360 will comprise former executives from US Integrity and Odds On Compliance. Matt Holt,(photo above on left), the former CEO of US Integrity, will lead IC360 as CEO, while Eric Frank, (photo above on right) the former CEO of Odds On Compliance, will serve as President. Scott Sadin, (photo above centre), who previously served as COO of US Integrity, will take over as COO of IC360. Kimmel, the original investor in both companies, will serve on IC360’s board of directors.

The BIS SiGMA Americas kicked off yesterday with a panel discussion led by several prominent women in the gaming sector. Held at the Hilton Morumbi, and hosted by Lilly Douse, the panel discussion delved into several crucial aspects of gender diversity and inclusion in the gaming industry. Panellists included Heloisa Passos, Founder and CEO at Trexx, Fabiola Jaeger, CEO at Caleta Gaming, Liudmila Schirmer, Affiliate Manager at Booming Games, Jennifer Innes, CEO at BettingJobs, Antonella Lorenzetti, Head of Marketing at Nonocosmos GmbH, Luciana Hendrich, Partner and Lawyer at Hendrich Advocates, Barbara Teles, Lawyer at Rei do Pitaco, Olivia Panhoca, Head of Operations and Affiliation for Latam at Novibet, Helen Walton, CCO at G Games, Frances Kintana, HR Director at Blaze, and Carla Souter, Senior Consultant at BettingJobs.

Firstly, there was a focus on the strategies to attract and retain female talent in technology-related roles, especially in regions like the UK, Spain, and India. Flexible working hours, unlimited holidays, and creating a supportive company culture were highlighted as effective retention measures.

The BIS SiGMA Americas conference takes place at the Transamerica expo centre between 24th and 25th.

Initiatives to support women in gaming, such as graduate programs, mentorship schemes, and training initiatives, were discussed. These programs aim to introduce more women to the gaming industry and provide them with the necessary support for career advancement.

The importance of creating inclusive gaming content without resorting to gender stereotypes was emphasized. Understanding the preferences and behavior of female gamers through data analysis is crucial for designing games and platforms that cater to their needs.

Additionally, there was a discussion on inclusion policies and best practices, with an emphasis on the importance of awareness and understanding of cultural differences within organisations. The need for safe spaces where diverse perspectives are valued, and employees feel empowered to speak up was highlighted as a key aspect of fostering inclusion.

Overall, the panelists shared valuable insights and experiences aimed at promoting gender diversity and inclusivity in the gaming industry, underscoring the importance of collaborative efforts in creating a more inclusive and supportive environment for all.

Here were some of the main points that emerged:

Bringing Value to the Table 

Emphasize the importance of learning from every outcome, whether positive or negative. Acknowledge that growth can result from both personal improvement and recognizing when an environment may not be suitable.

Staying True to Yourself

Highlight the significance of embracing one's unique qualities and not trying to conform to stereotypes or mimic others, especially in leadership roles.

Developing Skills

Encourage women to invest in developing soft skills, such as communication, leadership, and networking, which are invaluable in any industry.

Seeking Mentorship

Stress the value of seeking mentorship and building alliances, as exemplified by personal experiences of mentorship leading to successful partnerships and career advancements.

Overcoming Challenges 

Discuss various challenges faced by women in the industry, including fundraising, biases in hiring and salary, and balancing work with family responsibilities. Share strategies for overcoming these obstacles, such as believing in oneself, embracing change, and seeking support networks.

Fostering Inclusivity 

Advocate for creating inclusive environments where diverse voices are welcomed, ideas are encouraged, and opportunities are accessible to all, regardless of gender or nationality. Highlight the importance of organisations promoting inclusivity through hiring practices, benefits packages, and supportive networks.

Supportive Networks and Associations

Highlight the role of associations and networks, such as the Associação de Mulheres da Indústria do Gaming, in providing mentorship, support, and opportunities for women in the gaming industry. Encourage active participation and engagement within these communities.

Yesterday's Ukraine’s parliament, the Verkhovna Rada, passed the first reading of a bill aimed at strengthening the state’s oversight over the gambling business. The bill, backed by 272 lawmakers, was introduced in May 2023 and is now one step closer to becoming law, pending a second reading and the president’s signature.

The proposed legislation comes at a time. A petition demanding restrictions on online gambling reached the president’s table in March, reflecting growing societal concern.

The bill proposes significant changes to the current regulatory framework. It suggests abolishing the Commission for Regulation of Gambling and Lotteries and transferring its responsibilities to the Digital Transformation Ministry. This move is expected to streamline the regulatory process and enhance oversight.

The legislation also includes measures to further restrict online gambling games and impose a ban on advertising. It outlines tools to safeguard particularly vulnerable categories of the population and proposes tightening business control measures. These steps are seen as crucial in mitigating the potential harm caused by gambling.

Moreover, the bill provides guidelines and conditions for cancelling licenses and proposes other measures to raise the standards of gambling enterprises. These provisions aim to ensure that businesses operate responsibly and adhere to the highest ethical standards.

The gambling landscape in Ukraine has seen significant changes over the years. Gambling was officially banned in 2009, but it was legalized again in 2020. Despite the controversy surrounding the industry, it has made substantial contributions to the state’s revenue. In the first two months of 2024 alone, the gambling business in Ukraine paid Hr 2.2 billion ($56 million) in taxes, and Hr 10.4 billion ($267 million) in 2023, according to Danylo Hetmantsev, the chairman of the parliamentary Finance Committee.

In a related development, President Volodymyr Zelensky signed a decree on April 20 aimed at counteracting the negative effects of online gambling. The decree bans online gambling for the military until the end of martial law. This move underscores the government’s commitment to addressing the potential harms of gambling and protecting its citizens.

The passage of this bill in the first reading marks a significant step towards a more regulated and responsible gambling environment in Ukraine. As it moves towards the second reading, it will be interesting to see how the proposed changes are received and what impact they will have on the future of gambling in the country.

Gambling regulations differ across countries, with varying degrees of restriction or regulation.

Italy implemented the Decreto Dignità (Dignity Decree) in early 2019, imposing a comprehensive ban on gambling marketing. This action followed a study revealing that 3% of Italians were experiencing gambling-related harm.

In contrast, Germany introduced the State Treaty on Gambling in June 2021, regarded as one of thecountries that recently revised their gambling laws.

Many European countries generally have more lenient casino and gambling laws. However, these laws can also apply to offshore gambling companies that enable customers to interact with overseas gaming firms.

Gambling regulations usually encompass all forms of gambling within a country, such as lotteries, bingo, sports betting, and casino games. They establish taxation rules and consider market development and preferences. As societal needs, community progress, and technological advancements evolve, so do active gambling legislations.

It’s crucial to distinguish between gambling regulations and gambling jurisdictions. Regulations refer to the laws governing gambling within a sovereign state. In contrast, jurisdictions oversee the business operations of the operators within the country issuing licences for global iGaming operations.