AFC and Sportradar Battle Match-Fixing ASIA & OCEANIA
Te Asian Football Confederation (AFC) has signed a new, extended partnership agreement with Sportradar, significantly strengthening the industry’s fight against match-fixing in Asia
AFC positions itself as one of the most committed sports bodies in the world on the issue of sports match-fixing
SOUTH KOREA – South Korea’s Kangwon Land Casino saw its net income for the fourth quarter of 2015 rise to US$75.8m, (KRW93bn) an astonishing 96.3 per cent rise compared to the same quarter last year.
However, last year, the final quarter was impacted by a one-off non-operating expense meaning that the increase in Gross Gaming Revenue was healthy, but more modest at an 8.6 per cent year-on-year increase to KRW405.9bn.
Daiwa Securities’ Analyst Thomas Kwon said: “This was slightly lower than our (KRW418bn) and the Bloomberg consensus estimate of KRW408bn. Operating profit of KRW120bn was also weaker than our and the consensus forecasts due to high labour costs and a rise in the abandoned mining fund and complimentary expenses. In our view, Kangwon Land has well leveraged its improved casino-gaming service infrastructure by adding more casino tables, hiring more dealers and service staff, and replacing old slot machines.
“Importantly, even the mass segment also generated robust fourth quarter 2015 revenues with a 9.7 per cent year-on-year growth,” he added. “Kangwon Land is ready to capture the solid casino- gaming demand in Korea, while other competitor casino resorts are facing difficulties in luring gamers and increasing drop. Its casino sales would continue to grow in 2016, boosted by strong revenues from mass table games and slot machines.”
For the whole year, Kangwon Land saw GGR of KRW1.63tr, representing an increase of 9.2 per cent from 2015 with operating profit increasing by 16 per cent.
The casino is located at the foot of High1 Ski and Golf Resort in Sapuk-eup, Jeongseongun, South Korea. It is currently the only Korean casino that allows Korean nationals to play. It operates 200 tables and 1,360 slots. In comparison to Kangwon Land’s improved performance, rival operator Grand Korea Leisure saw its fourth quarter revenue fall by 40.6 per cent.
MACAU– Galaxy Entertainment Group is taking a stake in a Monaco casinos and hotels operator, as the company controlled by billionaire Lui Che-Woo expands beyond Macau amid a gambling downturn in the Chinese city. Galaxy is buying five per cent of the shares of Societe des Bains de Mer et du Cercle des Etrangers a Monaco (SBM) from an independent third party. It didn’t name the seller or the sale price. “We see it as a potential to develop a strategic long- term partnership,” said Galaxy’s Peter Caveny.
Separately, LVMH Moet Hennessy Louis Vuitton SE, the world’s largest luxury-goods maker, is also taking a five per cent in SBM, which is 69.5 per cent-owned by the state of Monaco.
P34 NEWSWIRE / INTERACTIVE /
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New gaming bill not expected to dent Naga Corp’s profits
Cambodia
NagaCorp expects the Cambodian government to put into place a moderate five to seven per cent gambling tax across the country, according to the gaming firm’s chairman, Timothy McNally, who added that Cambodia is likely to approve and pass a gambling bill in the current quarter.
Te bill is currently at the drafting stage.
NagaCorp, which operates a casino resort and other facilities in Cambodia,
ASIA SPORTSBETTING
Te Asian Football Confederation (AFC) has signed a new, two year extended partnership agreement with Sportradar, significantly strengthening the fight against match-fixing in Asia. Following the official signing in Doha, AFC President Shaikh Salman bin Ebrahim Al Khalifa said: “Te integrity of sport is not negotiable. It is a crucial cornerstone to protecting the sport for future generations.
“At the AFC we are not content to just address this key area. We want to do everything we can to protect Asian football, to protect football in each country in Asia and to lead by example. Sportradar has proven to be a valuable partner in that objective and in our vision. With this new partnership, we have taken the best the organisation has to offer and extended it to each of our Member Associations.”
Te new agreement will cover over 4,500 matches across Asia each year through the specifically developed AFC Monitoring System (AMS). Tis coverage will include all AFC competitions and the top professional leagues in each of the AFC’s Member Associations. In addition, continental and regional tournaments
will also be monitored by the system. In parallel with these monitoring and detection solutions, Sportradar will also develop an integrity mobile app for the AFC.
Te app will work like a whistle-blower tool and can be used to report match-fixing cases. It will also support the AFC in the development of its integrity workshops and provide bespoke intelligence and research into match-fixing operations. A senior expert from Sportradar will also be joining the AFC to provide exclusive and ongoing support to the AFC Integrity Unit.
Sportradar Security Services Managing Director Andreas Krannich added: “When the AFC came to us to start discussing the renewal of our partnership, we expected to roll forward with our existing suite of services. But instead they came to us with a challenge: can we take what we do for them, and do the same for each country in Asia! And not only that, they asked us to re-open our books and outline what other preventative and investigative solutions we could throw into the mix. Tat kind of proactivity and commitment has characterised our relationship with the AFC.”
estimates that its tax bill last year would amount to around two per cent of its revenue.
Tough the company will face higher tax rates going forward, it will not deter NagaCorp from pursuing its business development plans in the South East Asian country, Mr. McNally added.
NagaCity Walk, a gaming and entertainment complex, is scheduled for launch in August. Te facility aims to attract middle class visitors.
NagaCorp, meanwhile, is also eyeing opportunities in Tailand and Vietnam. Elsewhere, the company plans to enter Cyprus.
As of now, the company derives 44 per cent of its revenue from the VIP segment. It enjoys gross margin of 19 per cent in the segment, compared with 57 per cent in mass tables revenue..
Philippines
Congressman Miro Quimbo, Head of the Ways and Means Committee, is in favor of imposing taxes on lotto and casino operations as endorsed by the National Tax Research Center (NTRC). Marikina Rep. Miro Quimbo said Congress should reassess whether the tax perks granted to the lotto business of Philippine Charity Sweepstakes Office (PCSO) and casino operators of Philippine Amusement and Gaming Corp. (Pagcor) were beneficial to the state compared to the revenues and jobs they create. Quimbo noted that the special privileges granted to Pagcor’s casino operations are considered by the Constitution as contrary to public good. “It’s time to review the tax privileges that they enjoy. Instead of being regulated, the tax system actually imposed a lower tax on them over ordinary corporations that generate more jobs,” said Mr. Quimbo.
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