Asia

Hong Kong’s record prize money increase includes Group races

Published

3 years ago

July 16, 2021

Reading Time: 3 minutes

£136.2 million up for grabs in 2021/22 season, with £9.3 million in the four Group 1s on LONGINES Hong Kong International Raceday

Hong Kong racing will offer record prize money of HK$1.46 billion (£136.2 million) for the 2021/22 season with the four G1 features on LONGINES Hong Kong International Raceday offering a combined new high of HK$100 million (£9.3 million).

By elevating the LONGINES Hong Kong Cup’s prize money to HK$30 million (£2.8 million), the Hong Kong Jockey Club will stage the world’s richest Group 1 races over 1200m, 1400m, 1600m and 2000m on turf.

The LONGINES Hong Kong Mile and the LONGINES Hong Kong Sprint, which are already the most valuable Group 1 races over 1600m and 1200m on turf, will rise to HK$26 million (£2.4 million) and HK$24 million (£2.2 million) respectively.

The Group 1 Queen’s Silver Jubilee Cup (1400m) is also the most endowed seven-furlong contest in the world on turf at HK$12 million (£1.1 million).

Hong Kong will also stage the world’s second most-valuable 1200m Group 1 on turf in 2021/22, with the Chairman’s Sprint Prize, run on FWD Champions Day, worth HK$20 million (£1.9 million).

In addition, there will be generous increases across the whole prize money structure, with prize money for Group 2 races and Group 3 races boosted by HK$250,000 (£23,000) and HK$200,000 (£19,000) respectively. Races in Classes 1 to 5 will also see prize money increased by between 4% and 9%, demonstrating the Club’s commitment to fostering talent and incentivising strong owner investment at all levels.

The upward adjustments, announced today, Friday 16 July, re-establishes the LONGINES Hong Kong Cup as the most lucrative Group 1 2000m event on turf in the world and consolidates its position as a principal target for the world’s best middle-distance horses.

Hong Kong Racehorse Owners Association President Mr. Matthew Lam said: “The Hong Kong Jockey Club has been doing great in keeping ‘racing goes on’ amid the COVID-19 challenges since last year when so many other sporting events were impacted. It is great to see the further increase of prize money in nearly all races, which offer good incentives to Hong Kong Owners to continue to import high class horses and support the world class racing standard in Hong Kong.”

Mr. Andrew Harding, Executive Director, Racing, at the Hong Kong Jockey Club said: “Key to Hong Kong’s world-class racing is the Club’s significant investment in prize money. Despite the issues associated with the COVID-19 pandemic and the uncertainty in world economies, we are committed to continuing our strategy of strong increases in purse levels to reward and encourage our owners and to ensure Hong Kong’s elite races are attractive to overseas competitors. This approach has been a core element in Hong Kong being able to maintain its position as a world leader in providing quality horseracing and has enabled us to achieve between 17 and 26 horses in the LONGINES World’s Best Racehorse Rankings for each of the past eight years.

“For next season, the Club has increased prize money to a record overall sum, including a significant injection across all Class 1 to Class 5 handicap races and Group 2 and Group 3 contests. We believe this will help to enhance competition and assist our owners in their attempts to purchase and import the best possible horses in a difficult economic climate.”

Mr. Harding noted the importance of Hong Kong’s elite races, especially the flagship LONGINES Hong Kong International Raceday.

“The LONGINES Hong Kong International Races will offer a record total of HK$100 million (£9.3 million) across the four Group 1 races held on the day, which underlines the Club’s commitment to attracting and rewarding the world’s best,” he said.

“That commitment is evident in the prize money increases for the LONGINES Hong Kong Cup, Hong Kong Sprint and Hong Kong Mile.”

Asia

2 RAIDS NET 10 CHINESE, 26 PINOYS FOR ILLEGAL GAMES, ONLINE SCAMS

Published

3 hours ago

May 2, 2024

Adrienn Sarkany

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Reading Time: 2 minutes

The Philippine Amusement and Gaming Corporation (PAGCOR) today said 10 Chinese nationals and 26 Filipinos have been arrested in two separate operations against illegal gaming operations and online scams in Laguna and Parañaque City since Tuesday.

The first operation in Biñan, Laguna on Tuesday, May 1, resulted in the arrest of 16 people who were running an illegal online raffle on Facebook. The raiders are from the Philippine National Police Anti-Cybercrime Group (PNP-ACG) and the PAGCOR security group.

The suspects, which run the FB Page Lucky Dream 4, were caught red-handed in their office located inside a subdivision while livestreaming their 50th raffle event.

Earlier today, May 2, another group of suspects that included 10 Chinese nationals were arrested by joint elements of the CIDG-NCR and PAGCOR inside a house in Multinational Village, Parañaque for violation of the Anti Trafficking in Persons Act (RA 9208), Alien Registration Act (RA 562) and Cybercrime Prevention Act (RA 10175).

PAGCOR Chairman and CEO Alejandro H. Tengco said the arrests are part of the state gaming agency’s intensified campaign against illegal online gambling and other illicit activities through strengthened collaboration with law enforcement agencies.

“We have been receiving reports of illegal online activities including those in social media platforms. As the country’s gaming regulator, it is our duty to protect the public – especially the youth — from these illegal online gambling sites,” he said.

PAGCOR Senior Vice President for Security Cluster Raul Villanueva said Lucky Dream 4, which has 111,000 followers on Facebook, was conducting live online raffles that offered second-hand modified motorcycles as prizes.

Villanueva said that in one raffle event, the group can sell an average of 40,000 to 50,000 tickets, with each ticket costing Php40.

“They have amassed over Php8 million from the time they started this illegal online operation because in one draw, they can sell as many as 50k tickets,” Villanueva said.

“Ang masaklap nito, karamihan sa miyembro ng grupong ito ay kabataan. Ang pinaka-matanda sa kanila ay 27 years old pa lang,” he said.

“The Lucky Dream 4 group is obviously engaged in an illegal online gaming activity. Negosyo na ang ginagawa nila. They need to secure a license from PAGCOR if they want to operate an online gaming platform,” Villanueva added.

In the Parañaque raid, Villanueva said authorities arrested seven male and three female Chinese nationals believed to have been part of a group that managed to escape from an earlier raid on a large gaming compound in Bamban, Tarlac last March.

Nine Filipino female workers were also rescued, while one 1 Filipino male serving as a bodyguard was arrested for possession of an undocumented .45 caliber pistol.

The raiders also confiscated around 75 mobile phones, 30 desktop computers, 50 laptops, assorted credit cards, two cars and one motorcycle along with assorted Chinese government documents.

Two vaults were also found in the house located at 18 Teheran Street inside the exclusive subdivision.

Police said the Chinese suspects were engaged in scamming activities such as love and cryptocurrency scams similar to the illegal activities in the Bamban, Tarlac compound which was raided last March.

The post 2 RAIDS NET 10 CHINESE, 26 PINOYS FOR ILLEGAL GAMES, ONLINE SCAMS appeared first on European Gaming Industry News.

Asia

Esports media platform TalkEsport raises $1 million in pre-series A funding round

Published

4 hours ago

May 2, 2024

Adrienn Sarkany

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Reading Time: 3 minutes

TalkEsport, India’s leading esports media platform, announced today the successful closure of its pre-series A funding round, securing a significant investment of $1 million from Saswat Ventures. The substantial investment underscores TalkEsport’s robust growth trajectory and reaffirms its position as a pioneering force in the esports industry.

Founded in 2011, TalkEsport was set up with a vision to bring timely news and updates to gaming communities worldwide. As India’s oldest esports media platform, the company now caters to millions of gamers worldwide through its website and social media channels. TalkEsport plans to utilize the investment to scale up its core website while launching a highly interactive application for its audience and setting up a state-of-the-art production studio in Mumbai. Through it, the company will be launching exclusive content IPs focused on gaming and esports.

“We are delighted to welcome Saswat Ventures as our strategic partner,” exclaimed Deepak Ojha, Founder and CEO of TalkEsport. “Their belief in our vision and commitment to the esports ecosystem align seamlessly with our mission to redefine gaming experiences globally. With this investment, we will be scaling up our newsroom to cater to gaming communities worldwide while launching new content IPs targeted towards Indian and international audiences.”

Saswat Ventures, a family fund set up by Mr. BL Sharma, Principal, shares a vision of catapulting TalkEsport into a global phenomenon. Mr. Sharma has businesses across the country and expressed his confidence in TalkEsport’s potential to revolutionize esports media and connect with a vast audience of passionate gamers worldwide, “We believe in TalkEsport’s potential to become a global platform for esports enthusiasts worldwide.”

Trilochan Sharma, a seasoned expert in compliance matters, joins TalkEsport’s board as the Director of Compliance. His wealth of experience will ensure adherence to regulatory standards and bolster the company’s governance framework.

In addition to this pivotal investment, TalkEsport is proud to announce key developments that highlight its commitment to innovation and growth:

Production Studio in Mumbai

TalkEsport is excited to unveil its state-of-the-art production studio in Mumbai. This cutting-edge facility will serve as the epicenter for creating high-quality esports content, launching content IPs, live broadcasts, interviews, and immersive gaming experiences.

Pranav Nalawade, the Editor-in-chief of TalkEsport, said, “Our new era of esports coverage will begin not only with TalkEsport’s revolutionary approach in publishing news and covering esports events but also high-quality esports content courtesy of our new production studio. As one of the oldest esports media platforms, we have built an audience that relies on us for our history of trustworthy and reliable news. Now, we want to double up on this audience, reforming the way content around esports is consumed in India and abroad through podcasts, media, short-form content, and analytical stories – both in the form of video and text.”

Upcoming Mobile App Launch

Furthermore, TalkEsport is gearing up for the launch of its mobile application soon. This innovative app promises to redefine how gamers access news, engage with esports communities, and participate in live tournaments, all from the convenience of their mobile devices.

“Proceeds of the $1 million will be utilized in creating a robust team of gaming enthusiasts and expanding our global reach,” added Deepak. “This investment not only propels TalkEsport’s growth initiatives but also fuels our mission to provide unparalleled experiences for esports enthusiasts worldwide.”

Through its application, esports viewers will be able to get live coverage of esports tournaments, scores, and interviews. Additionally, they will be able to participate in community tournaments, thus providing an end-to-end immersive experience from the convenience of their mobile devices.

The media company continues to lead the charge in transforming the esports landscape, fostering community engagement, and pushing the boundaries of gaming innovation. The company’s dedication to excellence, coupled with strategic partnerships and visionary leadership, sets the stage for an exciting chapter in esports media.

The post Esports media platform TalkEsport raises $1 million in pre-series A funding round appeared first on European Gaming Industry News.

Asia

Delasport Signs a Sports Deal with Philippines’ Leading Regulated Operator OKBET

Published

2 days ago

April 30, 2024

George Miller

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Reading Time: < 1 minute

Award-winning iGaming supplier in regulated markets Delasport has just signed a sports deal with Philippines’s number 1 operator OKBET.

The leading software developer will provide sports-services to their new partner, enhancing the experience of sports bettors in the Philippines even further.

“We’re proud to supply our services to such a strong partner as OKBET, and to an exciting and steadily growing market as the Philippines”, Delasport’s CEO Oren Cohen Shwartz comments on the agreement.

Regulated Philippines is marking a stable 5% year-to-year growth with the number of users expected to reach almost 6 million by 2029.

This is yet another deal for Delasport, with the global supplier’s expansion in regulated markets happening at full force.

Same goes for OKBET who have been holding the number one operator spot in iGaming in the Philippines for a long time now.

“I’m excited that OKBET and Delasports are joining forces to redefine the landscape of online sports gaming in the Philippines”, OKBET’s COO Wayne Thong also comments on the deal. “This partnership combines OKBET’s local market expertise with Delasports’ global industry leadership, creating new opportunities for innovation and customer satisfaction. OKBET and Delasports share a common vision for the future: a vibrant and dynamic platform that caters to the diverse interests of sports enthusiasts. By combining cutting-edge technology with a deep understanding of user preferences, this collaboration aims to set new standards for the industry.”

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