SOFTSWISS unites iGaming community to aid Brazil floods

In a recent interview conducted by Maria Debrincat for SiGMA, Nicky Gouder, a partner at Seed and the Chief Business Development Officer at Binderr, opened up about his approach to philanthropy and his role in supporting meaningful projects through the .

Nicky Gouder's journey in philanthropy is marked by a deep-seated desire to challenge the status quo. "The status quo is something that annoys me," he remarked, emphasising his "drive to innovate" and make a tangible difference. Doing things differently is the principle that guides his decisions and actions, in all aspects of his life, he explained.

Finding the right project to invest time and resources into was initially a challenge for Gouder. During the interview, he discussed the importance of trust in the projects he supports and the need for transparent information about their outcomes.

His decision to collaborate with the SiGMA Foundation stemmed from a strong belief in the integrity of the projects and the people involved, particularly citing his long-standing relationship with Keith Marshall, Chief Philanthropy Officer and co-founder of the SiGMA Foundation.

Among the projects that resonated deeply with Nicky Gouder is the SiGMA Foundation's initiative focused on . Among other initiatives, the foundation financed tailored programs in IT, cookery, sewing, and hairdressing, benefiting hundreds of women annually, helping them achieve employment and financial independence. Gouder emphasised that the foundation's ultimate goal is to support communities in a sustainable manner, ensuring that initiatives are not short-term fixes but long-term investments in building a brighter future.

Central to Gouder's philanthropic philosophy is the idea of fostering independence rather than fostering dependence on donations. He believes in using resources to empower individuals, equipping them with the skills and capabilities needed to thrive independently.

Acknowledging that he may not always fully understand the needs on the ground, Gouder stressed the importance of listening to those who are directly involved and have a real understanding of the local context. This approach ensures that the foundation's efforts are aligned with the actual needs of the communities they serve.

Reflecting on his involvement with philanthropic projects, Gouder finds personal fulfilment in witnessing successful project outcomes. He views the positive transformation in communities as the ultimate reward for his contributions, reinforcing his commitment to making a meaningful difference, and challenging the status quo even further.

Upcoming SiGMA event: The  2024 will be held in Budapest this September.

Indonesian President Joko Widodo has denied any plans to provide social assistance to online gambling players. The president’s comments come in response to recent discussions about potentially aiding families affected by , a proposal that has sparked significant controversy given that online gambling is illegal in Indonesia. 

According to a local report, the idea of providing social assistance was first floated by Coordinating Minister for Human Development and Cultural Affairs, Muhadjir Effendy, during a meeting on June 13, aimed at establishing the Online Gambling Eradication Task Force. The Deputy Chair of the task force later clarified on June 17 that while gamblers should be prosecuted, the proposed assistance was intended for their families. 

President Widodo’s recent statements come amidst a on online gambling, which has been linked to several alarming criminal cases across Indonesia. In a video shared on his social media platforms, the president emphasised the importance of prudent money management and urged public figures, religious leaders, and citizens to monitor and report any signs of online gambling. 

The proposal has faced sharp criticism from various quarters. The Indonesian Forum for Budget Transparency (FITRA) was quick to condemn the idea, arguing that providing social assistance to the families of online gamblers effectively subsidises the gamblers themselves. Instead, FITRA researcher Gurnadi Ridwan suggested that the government should focus on creating job opportunities to combat poverty. 

Director of the Digital Economy at the Center of Economic and Law Studies (Celios), Nailul Huda, echoed these sentiments, stating that online gamblers do not deserve social assistance as they contribute to state losses.  

Contrary to the prevailing criticisms, Asep Suryana, a sociologist from Jakarta State University, defended the idea of providing social assistance to the families of online gamblers. He argued that online gambling is a psychosocial issue, and those addicted often do not consider the long-term consequences of their actions.  

Find out more about the latest updates and trends in the industry, from latest regulatory news to most recent innovations at the upcoming  Summit happening in Budapest from 2 – 4 September.

MGM China Holdings is contemplating expanding one of its casino resorts in Macau by adding hotel rooms and wellness services, aiming to attract a broader customer base beyond traditional high rollers, according to a Bloomberg report. Sources close to the matter revealed that the company is consulting with designers and planners about potentially adding a wellness-themed building to its Cotai resort, which is Macau's equivalent of the Las Vegas Strip.  

The proposed expansion could include hundreds of additional hotel rooms along with spas and health treatment services. These plans are still in the early stages and may change. Currently, MGM has around 2,000 rooms in Macau, the smallest hotel portfolio among the city's six casino operators.  

According to the report, this initiative is part of MGM's strategy to enhance its non-gaming offerings and draw in mass-market tourists, particularly those with higher spending power, known as the "premium mass" segment. These tourists typically spend thousands of dollars a day. has yet to comment on these developments.  

In line with this strategy, MGM plans to open a new art museum and wellness centre offering traditional Chinese medicine later this year at another Macau resort, located a 15-minute drive from Cotai. Other casino operators, such as Sands China, have also been expanding their non-gaming amenities to attract a broader customer base.  

China's crackdown on junkets, which were agents that helped casinos attract high rollers, has nearly eliminated the VIP segment. As a result, the mass market, which accounted for about 50 percent of Macau's total gaming revenue before the COVID-19 pandemic, made up roughly 75 percent in the first quarter of this year.  

MGM's market share of gaming revenue increased to 17 percent in the first quarter from 10 percent in 2019, thanks to a significant expansion of its gaming tables, an upgrade of resort facilities, and the early adoption of technologies for efficient table management and identifying potential high-value players.  

Under the terms of a 10-year gaming licence extension agreed with the Macau Special Administrative Region (SAR) Government in December 2022, MGM China must invest $1.9 billion (€1.77 billion) in non-gaming projects at its two Macau resorts by 2032. This investment is part of the company's broader strategy to diversify its offerings and attract a wider range of tourists.  

is reportedly focusing its mandated investment on wellness offerings and additional hotel rooms. With around 600 rooms at MGM Macau and about 1,400 at MGM Cotai, the company has the smallest number of hotel rooms among Macau's casino operators. In comparison, Sands China offers approximately 12,400 rooms.  

Macau, under Beijing's direction, has significantly reduced the number of junket operators, who previously kept the high-roller rooms busy. This move aims to curb the outflow of money from the mainland through Macau. As a result, casinos are now targeting the premium mass market, general public consumers who are willing to spend substantial amounts of money on both gaming and non-gaming activities.  

The concept of integrated resorts, which includes casinos, hotels, convention facilities, entertainment venues, luxury shopping, and fine dining, continues to evolve. MGM's focus on wellness is in line with industry trends, as seen with Sands' plan to introduce a Canyon Ranch wellness retreat at its proposed Long Island destination in New York, should it secure a casino licence. 

Find out more about the latest updates and trends in the industry, from latest regulatory news to most recent innovations at the upcoming  Summit happening in Budapest from 2 – 4 September.

In a move that could bring relief to India's online gaming industry, the Union Finance Ministry has proposed an amendment to the Central Goods and Services Tax (CGST) Act, 2017. The proposed amendment involves the introduction of a new Section 11A, which would allow the central government to "not recover the GST not levied or short-levied as a result of general practice." This proposal will be discussed at the upcoming federal GST Council meeting scheduled for June 22nd in New Delhi.  

If accepted, this amendment could lead to the non-recovery of the 28 percent GST on e-gaming, casinos, and horse racing. Industry stakeholders have expressed concerns about the previous tax decision, which they say was implemented without clear guidelines and has led to significant financial challenges.  

The proposed amendment aims to regularize past practices where GST was not fully applied, thereby preventing retrospective tax demands that could financially harm companies. This change could ensure that companies are not held liable for GST that was not levied due to common industry practices.  

The Law Committee's recommendations highlight the importance of legitimising these past practices to avoid financial instability within the sector. However, it is important to note that the proposed changes do not provide for refunds of any excess GST paid due to these practices. This means that while future compliance may become clearer and disputes may be reduced, companies will still bear the burden of any overpaid taxes.  

's GST Council will also address the significant demand notices issued to approximately 80 online gaming companies in India. These demand notices have been a major point of contention, with the industry arguing that the retrospective application of such taxes could lead to severe financial consequences.  

The 52nd GST Council meeting in October 2023 had already set a 28 percent GST on the initial bet amount, with a review pending. Despite industry pushback, sources indicate that the government is likely to maintain its current stance on taxation, citing substantial increases in tax revenue and regulatory benefits since the new regime's implementation. Since October 2023, GST collections from online gaming have surged by 400 percent, reaching an average of Rs. 1,200 crore (€133,889) per month. 

Find out more about the latest updates and trends in the industry, from latest regulatory news to most recent innovations at the upcoming  Summit happening in Budapest from 2 – 4 September.