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GEMS Secures 50M Investment Commitment from GEM Digital Limited

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GEMS has announced that it has secured a $50 million Investment Commitment from GEM Digital Limited (GEM Group), a digital asset investment firm based in The Bahamas. GEM Group actively sources, structures and invests in utility tokens listed on over 30 CEXs and DEXs globally.

The new capital will be used to further enhance GEMS products and expand the ecosystem globally, with a primary focus in Asia.

GEMS, the Esports 3.0 Platform, currently has more than 80 blockchain and Esports companies as partners, most of which are pioneer, top-tier investors or world class leaders in the industry. As its expansion plan is inclusive and aggressive, GEMS welcomes new GameFi partners to join in.

“GEMS is a promising Esports 3.0 GameFi Platform with a unique O2O (online-to-offline) system. It propels Esports into 3.0 by integrating GameFi, Metaverse and SocialFi elements,” a spokesperson for the GEM Group said.

“We are about to experience fundamental change in how we perceive the blockchain and Esports world. We definitely see great potential in GEMS Esports 3.0 platform and would like to give our ultimate support to GEMS.”

“We are honored to sign the $50 million Investment Commitment agreement with the GEM. This agreement with GEM notably positions us for our next stage of development as we continuously innovate and evolve our products. GEM’s capital commitment provides strong support to future development and expansion of our platform, especially in Asia. Part of the capital will be used to fund user acquisition,” Andy Koh, CEO of GEMS, said.

“The $50 million funding commitment from GEM will foster the growth of GEMS, as well as its partners. With LABS Group and Arena Esports Hotel as our founding partners, our next step is to wisely deploy these capitals to nurture our O2O ecosystem, as well as explore new and exciting opportunities for GEMS,” Yuen Wong, co-founder of GEMS and CEO of LABS Group, said.

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Asia

MelBet Announces New Partnership with СPL 2024 Champion Saint Lucia Kings

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MelBet has announced a new partnership with the СPL 2024 Champion Saint Lucia Kings.

As a Principal Partner, MelBet, the iGaming company, will support the Kings on their journey to defend their title during the upcoming season.

Both the platform and the team share the same belief: perseverance and tenacity make champions. Anyone who is inspired by the desire to win, who believes in themselves and never gives up, deserves a reward, and loyal MelBet fans know this better than anyone. As part of the partnership, MelBet will become an integral part of the St. Lucia Kings team, supporting players and fans on their way to victory.

“We’re excited to enter the season with MelBet as our Principal Partner. Their reputation for turning every moment into an unforgettable experience is a perfect match for our team. We’re confident that this partnership will bring us the luck and success we need as we aim for another great season,” said Satish Menon, CEO of Saint Lucia Kings.

“We are absolutely delighted to welcome MelBet as our principal partner for the upcoming CPL Season 13. This partnership marks an exciting new chapter for the Saint Lucia Kings, and we are confident that MelBet’s passion for sports and commitment to excellence align perfectly with our own ambitions. We look forward to a successful season both on and off the field,” said Saurabh Arora, Chief Commercial Officer of Saint Lucia Kings.

The post MelBet Announces New Partnership with СPL 2024 Champion Saint Lucia Kings appeared first on European Gaming Industry News.

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Genting Singapore Appoints Lee Shi Ruh as its New President and COO

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Genting Singapore chief financial officer (CFO) Lee Shi Ruh has been appointed president and chief operating officer (COO), filling a position that had been vacant for three years.

The role was last held by former president and COO Tan Hee Teck, who was promoted to chief executive officer in May 2022.

Lee has now stepped down as CFO, the group announced in a bourse filing on Friday (Aug 1). That role will be taken over by Ang Suat Ching, currently CFO of Resorts World Sentosa (RWS), an indirect wholly owned subsidiary of Genting Singapore. Ang will retain her role at RWS.

These changes follow the retirement of Tan, who stepped down as CEO and chairman of RWS in May.

From Jun 1, Lim Kok Thay, executive chairman of the Genting Group, assumed the role of acting CEO, while Lee took on the position of CEO of RWS.

“These appointments reflect our commitment to leadership renewal as the group enters its next phase of growth,” said Lim.

He added that Lee “brings a proven track record of sound decision-making, strategic discipline, and a clear understanding of the group’s long-term priorities, which will be invaluable in her expanded role as president and COO”.

He also noted that Ang’s financial expertise will support the group’s long-term value creation.

The post Genting Singapore Appoints Lee Shi Ruh as its New President and COO appeared first on European Gaming Industry News.

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Aquisitions/Mergers

Donaco International Shareholders Approve Acquisition by On Nut Road Limited

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Donaco International Limited (DNA), an ASX-listed company focused on leisure, entertainment and associated technology, announced that its shareholders have voted in favour of the proposed acquisition of 100% of the company’s shares by On Nut Road Limited (ONR) via a scheme of arrangement. Donaco International operates casino businesses in Southeast Asia.

The resolution to approve the Scheme was passed with significant support, with 98.11% of votes cast by Donaco shareholders in favour. Additionally, 77.50% of Donaco shareholders present and voting, either in person or by proxy, attorney, or corporate representative, also voted in favour of the Scheme. The voting results reflect strong shareholder backing for the proposed acquisition.

The Scheme remains subject to the approval of the Supreme Court of New South Wales at a hearing scheduled for Thursday, 7 August 2025. The Second Court Hearing will only occur if all of the remaining conditions precedent to the Scheme have been satisfied or waived. If the court approves the Scheme and all conditions are met, Donaco intends to lodge a copy of the court orders with ASIC on Friday, 8 August 2025, upon which the Scheme will become effective and DNA shares will be suspended from trading on the ASX. Pending final approvals, the implementation of the Scheme is expected to occur on Tuesday, 19 August 2025.

The post Donaco International Shareholders Approve Acquisition by On Nut Road Limited appeared first on European Gaming Industry News.

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