Connect with us
Atlaslive is a robust, scalable, and reliable igaming platform that supports the growth of our partners’ business by ensuring 99.9 percent uptime, one of the best in the industry.

Asia

Nazara: Major Tailwinds for the Gaming Industry – Union Budget 2022

Published

on

Reading Time: 2 minutes

 

The below information will be attributed to Manish Agarwal, CEO, Nazara Technologies Ltd.

Some of the salient points for the development of the gaming industry mentioned in the Union Budget 2022:

I.    AVGC Taskforce to be set up to carve the way ahead for the Gaming Industry
Welcome move by the government to promote AVGC (Animation, Visual Effects, Gaming, and Comics) by setting up task force to seek recommendation to create the way forward. As we know, India presently commands around 10% of the global AVGC market and has the potential to reach 20-25% by 2027. This taskforce will facilitate employment for the youth, build domestic capacity to serve the Indian markets and also meet global demand.

Advertisement

II.    5G auctions to happen in 2022 leading to innovations in the Gaming sector
A very encouraging timeline for the gaming sector set by Hon’ble FM on the 5G spectrum auctions in 2022 to enable the launch of services within FY 22-23. Advent of 5G in India will drive the momentum in the gaming industry even further and enhance gaming experiences due to factors like higher data speeds, lower latency, and technologies like Virtual Reality and Augmented Reality.

III.    Facilitating partnership with states in SEZs to ensure greater alignment with key industries – Gaming focused SEZs to encourage infrastructure and talent pool development
Replacing the Special Economic Zone (SEZ) Act with new legislation that would enable states to become partners in becoming development hubs is a crucial and well-timed move. For the gaming industry, such partnership with states on SEZs would help strengthen the supply base of animation and production studios and encourage development of the existing animation and gaming capacity. It will also lend focus on evolving a concept of infrastructure sharing as well as making available a talent pool in India, for our country to grow as hub for the global gaming ecosystem.

IV.    Cryptocurrency incorporation in the tax net
By bringing crypto and NFTs under the tax net by proposing to tax virtual assets at 30%, the government has indirectly accorded recognition to these digital assets which is a positive step. We are hopeful that provided with and implementation of the necessary regulatory measures cryptocurrency may be soon legalized in India.

V.    Launching Digital Rupee – Spur in Micro-transactions
The introduction of the Central Bank Digital Currency (CBDC) using blockchain technology will spur micro-transactions and could be the solution for the low in-app purchases that the Indian gaming market currently witnesses.

The announcements on virtual assets and CBDC signal the progressive mindset of the government and is a huge confidence booster for welcoming innovations in the disruptive space of the metaverse and Web3.0.

Advertisement

Continue Reading
Advertisement

Asia

From LatAm to Asia: Meet GR8 Tech at SiGMA Manila

Published

on

from-latam-to-asia:-meet-gr8-tech-at-sigma-manila
Reading Time: 2 minutes

 

GR8 Tech, an award-winning iGaming solutions provider, will exhibit at SiGMA Asia on June 3-5, marking a significant expansion into the region. Attendees can visit GR8 Tech at stand D806, where they will have the opportunity to explore the provider’s comprehensive ecosystem of solutions, featuring the flagship GR8 Sportsbook, the robust GR8 Casino, and innovative standalone products, including but not limited to CRM, Sportsbook iFrame, Feed, and Payment Gateway.

SiGMA Asia provides us with a unique platform to connect directly with local operators and stakeholders, and we are excited to demonstrate how our technology can help them achieve greater profitability and efficiency,” said Evgen Belousov, CEO of GR8 Tech. “This is a milestone moment for GR8 Tech as we bring our advanced betting and casino solutions to one of the most dynamic gaming markets in the world.

Additionally, GR8 Tech, in collaboration with BETER, will host an exclusive invite-only party on June 3. This event is a perfect opportunity for valued clients and partners to relax and network in a festive setting, celebrating our continued partnerships and future successes.

Advertisement

Meet GR8 Tech at SiGMA Asia: Unlock the New Horizons

High-Performance Products and Interactive Demonstrations

The technological prowess of GR8 Tech’s diverse product suite will be on full display at SiGMA Asia. The attendees will be able to take a closer look at the comprehensive GR8 Sportsbook and Casino platform and vital standalone products like CRM, Sportsbook iFrame, Feed, Payment Gateway, etc., on demo screens at the stand. Each solution and product seamlessly adapts to address the specific needs of the Asian market, ensuring that all functionalities – from handling high betting volumes to integrating seamlessly with various payment systems – are tailored to enhance user experience and operator profitability.

Particularly, the provider’s flagship GR8 Sportsbook, known for its high stability and performance, offers a wide selection of content that caters to the diverse preferences of players across Asian countries. It also features unique margin management capabilities designed to maintain competitiveness and profitability in the region’s aggressively low-margin environment.

GR8 Sportsbook is engineered to meet the specific needs of the Asian market, from its mobile-first design to its ability to handle high betting volumes without compromising user experience,” added Oleksandr Feshchenko, CRO at GR8 Tech. “We are proud to showcase how our platform can transform sports betting operations.

Advertisement

Connect with GR8 Tech

To ensure a personalized experience, GR8 Tech invites interested parties to book a meeting with their team, taking advantage of an excellent opportunity to discuss how GR8 Tech’s solutions can elevate business success in the region.

The post From LatAm to Asia: Meet GR8 Tech at SiGMA Manila appeared first on European Gaming Industry News.

Continue Reading

Asia

Wazdan secures Philippines market entry with SG8 partnership

Published

on

wazdan-secures-philippines-market-entry-with-sg8-partnership
Reading Time: 2 minutes

 

Wazdan, the gain-focused developer behind some of the world’s most rewarding casino gaming experiences, has entered the Filipino market after signing with SG8, a leading operator in the country.

A total of 46 Wazdan games will be made available to SG8 players and those across the Philippines for the very first time, including favourites 9 Burning Dragons, 9 Burning Stars™ and a host of the 9 Coins™ series such as 9 Coins™ Extremely Light, 9 Coins™ 1000 Edition and 9 Coins™ Grand Platinum Edition.

A renowned operator in the Philippines since 2006, SG8 is PAGCOR licensed and has quickly emerged as a player-favourite within Southeast Asia due to its diverse slot, live dealer and sportsbook offering, set to be enriched by Wazdan’s innovative iGaming content.

Advertisement

The Philippines marks the latest market entry for Wazdan, further establishing its presence across Asia following the landmark deal. More partnerships in the country are expected to be announced in due course.

Radka Bacheva, Head of Sales at Wazdan, said: “The Philippines boasts an incredible amount of iGaming potential and so we are delighted to enter the market with SG8, a leading player within the country.

“We’re bringing a range of our top-performing titles to its platforms and are eager to see how Filipino players react to our innovative mechanics. We are in no doubt this is the beginning of a flourishing collaboration.”

Heng Chin Sheng, CEO at SG8, said: “It’s an honour to welcome Wazdan to the Filipino market for the first time as part of this deal – we’ve seen the reception to its innovative slots across the world and are delighted to bring them to our players.”

“Leading titles such as 9 Burning Dragons and 9 Burning Stars™ are just a few of the 46 Wazdan titles that we are sure our players will embrace, and we look forward to seeing the results!”

Advertisement

The post Wazdan secures Philippines market entry with SG8 partnership appeared first on European Gaming Industry News.

Continue Reading

Asia

Thailand Considers Limiting Gambling Areas to 5% of Total Project Space

Published

on

thailand-considers-limiting-gambling-areas-to-5%-of-total-project-space
Reading Time: < 1 minute

 

The Thai government is exploring the possibility of restricting gambling areas within entertainment complexes to no more than 5% of the total project space. This proposal was revealed by Deputy Finance Minister Julapun Amornvivat, who also chairs the House committee responsible for evaluating the potential establishment of casino resorts in the country.

Amornvivat noted that the allocation of space for gaming activities within these entertainment complexes would be determined based on input from various governmental entities involved in a project.

Last month, Thailand’s cabinet approved a report from the National Assembly committee that examined the feasibility of introducing casino resorts in the country. The Ministry of Finance was tasked with conducting a 30-day study to assess the viability of implementing such a policy.

Advertisement

Each proposed venue would require a minimum investment of THB100 billion ($2.75 billion), according to the committee report. Amornvivat recently requested a two-week extension for the study period to further evaluate the matter in collaboration with 16 other government agencies.

The special House committee’s study focused on three main areas. First, it examined the potential impacts of introducing entertainment complexes with casinos on various aspects of Thai society, including economics, politics, social dynamics and the environment.

Second, the committee analysed the business framework of integrated entertainment venues, exploring revenue generation mechanisms such as taxes, fees and licensing structures. It recommended the implementation of specific casino taxes and the establishment of a fund aimed at addressing the negative effects of gambling activities.

Last, the report highlighted the importance of conducting a comprehensive review of the legal framework governing entertainment venues and gambling laws in Thailand. This effort aims to update existing legislation or develop new laws that align with the evolving societal landscape.

The post Thailand Considers Limiting Gambling Areas to 5% of Total Project Space appeared first on European Gaming Industry News.

Advertisement
Continue Reading

Trending

Get it on Google Play

Offering comprehensive coverage on all aspects of the gaming sector, our daily posts include online and land-based gaming, betting, esports, regulatory and compliance updates, and technological advancements. Regular features encompass daily news articles, press releases, exclusive interviews, and insightful event reports.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Gaming News Room is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania