Shin Hwa World faces revenue dip in 2023

The dates of the 4th - 8th of May marked the SiGMA Foundation’s memorable journey of the Camino de Santiago. Starting from Sarria, we covered around 25 km a day until we arrived at the Cathedral in Santiago de Compostela in high spirits.

Leading up to this journey, our 24 participants had been training together each weekend, all in unison of this special cause, to fundraise through various means for the women empowerment project, set to be inaugurated this coming October in Bonga, Ethiopia. 

Construction of the women empowerment project as of May, 2024

This project seeks to provide tailored educational programmes and skills development opportunities to women in Bonga, Ethiopia, providing a breeding ground for the development of this community's future.

Amidst the breathtaking landscapes and camaraderie, our diverse group who were once strangers, have now forged lasting friendships, sharing laughter, overcoming challenges and embracing this powerful feat together. 

Camino 6 group on the Camino Frances trail.

 “Buildup of this was great, the training in Malta, coming together as a group and walking all this way which was really fun and challenging, but most important of all is the fact that we are also here to help those less fortunate than us, and the SiGMA Foundation has allowed us to do this”, one expedition participant shared.

Camino 6 group on the Camino Frances trail.

Our journey was faced with all seasons of weather, from heavy rain to glorious sunshine, each element further contributing to the wonder of this world-renowned Camino Frances trail. Upon reaching the Cathedral, we cherished moments of celebration as well as reflection on the journey that has brought us here, recognising the collective achievements that we’ve made for those in need in Ethiopia. 

About the SiGMA Foundation

With the world in dire need of philanthropy, the SiGMA Foundation is leading the charge. As the philanthropic arm of the SiGMA Group, the Foundation is dedicated to supporting those who are most in need.

The SiGMA Foundation was founded in 2019 by Keith Marshall, Austin Cachia and Eman Pulis, Founder of SiGMA Group, with a mission to make philanthropy more participatory and engaging. Keith, who is known for his boundless energy, has dedicated his life to making a difference in the lives of thousands of people through various expeditions across the globe. With a fun and engaging approach to fundraising, the Foundation prioritises supporting underprivileged communities through active giving and aims to create meaningful impact in the world.

If you would like to get involved in any of the Foundation’s upcoming projects visit the for more information.

Interview with SiGMA Group Founder, Eman Pulis on the SiGMA Foundation

Jan Hagelberg, the Senior Vice President of International Business at Finland's Veikkaus, (photo above), has projected that the Finnish authorities will commence the issuance of gambling licenses by September 2026. Hagelberg expressed , “We understand the business, and there’s a lot happening: technological advancements, responsibilities, platforms, and new talent from companies like Kindred. We’ve even recruited individuals from PokerStars. We’re quite busy on all fronts.”

This prediction comes as Finland prepares to inaugurate its regulated market, with the government pledging to implement the new system no later than 2026. This represents a significant shift from the current monopoly model, where the state-owned Veikkaus holds exclusive rights to offer iGaming and sports betting. The existing system has largely been deemed unsuccessful in achieving its channelization objectives, with a substantial portion of revenue remaining in the unregulated segment.

Legal advisor Antti Koivula, a Finnish market expert at Legal Gaming Attorneys at Law, indicated that some form of Payment Service Provider (PSP) payments blocking would likely persist under the new regime. This system, introduced in 2023, has been criticized for its ineffectiveness.

Currently, no entities are listed on the Finnish National Police Board’s (NPB) BML Group, was the first to be blacklisted in February, following a decision by the Helsinki Administrative Court. However, the order was suspended by the Supreme Administrative Court pending the conclusion of the case.

Mansoori added, “Once the licence regime is implemented, the circumstances would be much more challenging for the operators – because then you cannot just change companies, you need to have a Finnish license at that time.”

Influencers and streamers may face stringent regulations however a balanced system would see the government concentrate on areas with a high prevalence of underage users, such as certain social media platforms. This approach would ensure the protection of vulnerable groups while allowing the industry to flourish in a regulated environment.

The Finnish gambling landscape is set for a significant transformation come 2026. As the country moves away from a state monopoly towards a regulated market, the industry is poised for exciting times ahead. The journey may be fraught with challenges and controversies, but the potential rewards promise a vibrant and thriving gaming sector.

The Philippines deported 165 Chinese nationals employed by a Philippine Offshore Gaming Operator (POGO) in Bamban, Tarlac. 

The Presidential Anti-Organized Crime Commission (PAOCC) confirmed the deportation of 165 out of 167 Chinese workers to Pudong District, Shanghai. Meanwhile, two individuals face pending cases in the , involving trafficking in persons and serious illegal detention charges. 

Upon reaching China, the deported individuals will undergo a 45-day detention period while charges are prepared. Additionally, they will be blacklisted by the Philippines' immigration bureau. 

Following a directive from Malacañang Palace, the Anti-Money Laundering Council froze Zun Yuan's assets, including its compound. The raid on March 14 uncovered 408 workers from various nationalities involved in the POGO operation. 

Authorities revealed that the deported Chinese nationals engaged in scamming activities and lacked proper travel documents, categorizing them as "undesirable aliens". Many were reportedly coerced into the operation, with their passports confiscated to prevent their departure.  

The Chinese Embassy the deportation, emphasizing joint efforts to combat fraud, kidnapping, and other crimes related to offshore gambling. This collaboration underscores both countries' commitment to curbing illegal activities in the region. 

The had been vocal in its commitment to maintaining pressure on illegal activities and protecting the public from the dangers of cross-border gambling and telecom fraud.  

The crackdown reflects broader challenges across Southeast Asia, where crime syndicates exploit workers, often under false pretences, to engage in fraudulent online activities. The UN Office on Drugs and Crime highlights the scale of this issue, with victims coerced into participating in elaborate scams, exacerbating financial losses regionally. 

This comprehensive action not only addresses immediate concerns but also signals a concerted effort to combat transnational crime and protect vulnerable individuals from exploitation in the region's burgeoning online gaming industry. 

Social media influencers have become a crucial part of advertising. This has however led to complex challenges, especially in sectors like iGaming, where strict regulations are in place. A recent incident involving social media influencer Astrid Wett and Festival Free Bets, a platform that compiles betting offers, highlights these complexities.

In March 2024, the UK’s Advertising Standards Authority (ASA) criticized Festival Free Bets for a promotional advert featuring Wett, who was 23 at the time. The advert was for the Cheltenham Festival, a notable horseracing event, and was posted on X (formerly Twitter). The ASA stated that by featuring Wett, Festival Free Bets had violated the CAP Code rule, which states that no one under 25 should play a significant role in marketing communications for gambling services.

The ASA expressed concern over Festival Free Bets’ apparent disregard for the Code, as the company did not respond to the investigation. Wett apologized and admitted she was unaware of the age restrictions for gambling adverts. She had assumed that being over 18 was enough to promote such content.

The ASA concluded that the ad was irresponsible as it was intended to facilitate gambling and featured someone under 25 playing a significant role. The watchdog has since ordered Festival Free Bets not to run the ad in its original format again and ensure future compliance with age restrictions.

This incident reflects the critical need for influencers and companies in the It also raises questions about the future role of influencers in this industry.

promoting online betting, one might wonder about the future of this sector. With regulatory reforms being implemented, there’s a possibility that opportunities in this area could diminish. However, it’s also possible that these changes could lead to a more responsible and sustainable industry. The impact of these reforms remains to be seen, leaving us to speculate on the future of influencer marketing in online betting.

Influencer marketing in the iGaming industry is evolving towards a more comprehensive approach where content creators are deeply involved in promoting products. This shift goes beyond traditional CPA deals, where influencers are paid based on the results they deliver. Today, we see creators who use iGaming products they promote regularly and express genuine excitement towards them becoming brand ambassadors.

The iGaming industry, which includes online gambling, sports betting, and casino games, has experienced rapid expansion in recent years. In 2021, the industry was estimated to be worth $61 billion annually, with projections of an 86% growth rate by 2028. As the industry evolves, brands are building their communication and expanding their audience with content creators.

Influencer marketing is a powerful way to connect and engage with target audiences, providing a level of authenticity and trust that is difficult to achieve via traditional advertising channels. However, as the case of Astrid Wett and Festival Free Bets illustrates, it is crucial for both influencers and iGaming companies to navigate the regulatory landscape carefully to ensure responsible and compliant promotional activities. The future of influencer marketing in the iGaming sector will undoubtedly continue to evolve, shaped by regulatory developments, market trends, and the innovative strategies of influencers and companies alike.