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Summit Ascent Increases its Stake in Tigre de Cristal

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Suncity Group Holdings Limited has announced that its majority-owned subsidiary Summit Ascent Holdings will increase its stake in Tigre de Cristal from 60% to 67.5%, after acquiring shares from two minority shareholders of Oriental Regent Limited (ORL), the sole owner of Tigre de Cristal; and, may further increase to approximately 89.29% if Summit Ascent is the only subscriber of the proposed new issue of ORL.

The planning and design of Tigre de Cristal Phase II is well under way, as such, each shareholder of ORL should pay for its respective share of capital expenditure to build Phase II. The share acquisitions, through convertible bonds (5-year zero-coupon at a conversion price of HK$3.50 per conversion share) and cash, by Summit Ascent, as well as the proposed new issue of ORL, can be interpreted as a strong support from the major shareholder Suncity.

“The potential to acquire further stakes in Tigre de Cristal is a strong injection in confidence that both Suncity and Summit Ascent are fully motivated to drive up business volumes in Tigre de Cristal. Besides, the outstanding recovery post-closure was as astounding as it seems during one of the worst business challenges in this pandemic – a solid proof that we could sustain in hard times with local businesses only. Going forward, both Suncity and Summit Ascent will continue to tap into the under-served Korean and Japanese markets in the future,” Mr. Chau Cheok Wa, Chairman of Suncity and Summit Ascent, said.

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AFC signs MoU with IBIA to strengthen fight against match-fixing

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The Asian Football Confederation (AFC)’s resolve to protect and safeguard the beautiful game in Asia was further underlined today through the signing of a four-year Memorandum of Understanding (MoU) with the International Betting Integrity Association (IBIA).

Moving forward, the AFC and IBIA will work closely to detect irregular betting patterns and suspicious activities in football matches across Asia. IBIA, through its Monitoring and Alert Platform, will share real-time data on suspicious betting activity with the AFC, further enhancing the AFC’s abilities to promptly investigate potential match manipulation.

The AFC General Counsel and Director of Legal Affairs, Mr. Andrew Mercer said: “The AFC’s Vision and Mission has outlined our steadfast ambitions to uphold the highest ethical and sporting standards, and we are committed towards preserving our key tenets of fair play and integrity.

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“Leveraging on strong collaborations with the world’s leading organisations is imperative to our fight against match-fixing and this MoU with IBIA further strengthens our ability to ensure football in Asia remains clean for the benefit of our future generation of fans, players and all our valued stakeholders.”

Khalid Ali, CEO of IBIA, said: “Cooperation is a vital part of any effective integrity monitoring and investigatory framework and IBIA is delighted to be able to strengthen its relationship with the AFC through this important information sharing collaboration. For its part, IBIA will seek to safeguard the AFC ecosystem by utilising the monitoring of its members’ global customer account activity, which covers over $300bn in sports betting per annum.”

Mr. Mercer, added: “The AFC is committed to promoting integrity, ethics, and fair play in Asian football and we are pleased to work with IBIA as we strive to enhance our capabilities to monitor and address suspicious activities, ensuring that football in Asia is safeguarded from the threats of match manipulation.”

The MoU between the AFC and IBIA marks a significant step forward in the fight against match-fixing in Asian football with both organisations dedicated to creating a secure environment for the sport, fostering trust amongst fans, players and all stakeholders.

The post AFC signs MoU with IBIA to strengthen fight against match-fixing appeared first on European Gaming Industry News.

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Online Casino Platform 96M Partners with Formula 1

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Formula 1 and 96M, a premier Asian online casino platform, have officially announced a landmark partnership, bringing a new wave of excitement to fans throughout the region. This collaboration establishes 96M as the official betting partner of F1 in Asia, offering exclusive content, innovative betting opportunities and a forward-looking perspective on the future of both industries.

This partnership goes beyond the standard offerings. Fans can look forward to exclusive content tailor-made for the Asian market. Not only will fans gain a deeper understanding of the sport, but they’ll also be armed with the knowledge to make informed betting decisions.

96M will offer a thrilling array of exclusive betting options specifically designed for the Asian market. From daring pre-race predictions to in-play wagers that keep the adrenaline pumping, this partnership promises to elevate the viewing experience for fans of all levels.

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To celebrate this exciting collaboration, 96M is launching a special prediction promotion with a unique twist. Fans can participate by predicting race outcomes on the 96M platform via the one-of-a-kind F1 Airdrop. This innovative promotion promises a thrilling way for fans to engage with the sport and potentially score exclusive incentives.

This partnership is poised to redefine the landscape of both online betting and motorsport. By leveraging F1’s global reach and 96M’s expertise in the Asian market, the collaboration aims to set new standards for innovation, responsible gaming and audience engagement. With a shared commitment to delivering exceptional experiences, F1 and 96M are positioned to lead the industry forward.

The partnership officially commences ahead of the 2024 Singapore Grand Prix, marking the beginning of a thrilling new era for both F1 and 96M.

The post Online Casino Platform 96M Partners with Formula 1 appeared first on European Gaming Industry News.

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Fun88 and Dale Steyn Team Up for Another Winning Partnership

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Fun88, a leading online gaming platform, announced the continuation of its partnership with legendary cricketer Dale Steyn as its brand ambassador. This collaboration, which began in 2023, has significantly strengthened Fun88’s credibility and trustworthiness in the global gaming industry. The company is excited to have Steyn with them for another year, connecting with fans everywhere.

Dale Steyn, a former South African cricketer renowned for his exceptional cricketing career and celebrated as one of the greatest fast bowlers in the history of the sport, brings with him a wealth of experience & a legacy of excellence. His association with Fun88 underscores the platform’s commitment to providing a safe, secure and reliable gaming experience for all users.

Dale Steyn said: “From humble beginnings to the world stage, I made it through hard work, dedication, and belief. I pushed limits, broke barriers, and never forgot to have fun. Now, with FUN88, my journey continues. Whether it’s your next big game or a shot at fame, Fun88 is your guide. Play Fun, Win Big!”

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Over the past year, Steyn’s role as a brand ambassador has played a pivotal role in elevating Fun88’s reputation. His professionalism, along with his love for sports, matches Fun88’s values of transparency, caring for customers and providing top-quality entertainment. His presence has helped Fun88 connect with sports fans on a deeper level and bring them closer to the action. As Fun88 continues to expand, the platform is looking forward to strengthening its relationship with Steyn.

Fun88 is a leading name in the sports industry, sponsoring well-known teams and events across various sports like cricket, football and kabaddi. The platform is dedicated to promoting sportsmanship and connecting fans with their favorite games through innovative, engaging experiences, offering exciting opportunities for sports lovers to interact with teams and events through betting and live-action features.

The post Fun88 and Dale Steyn Team Up for Another Winning Partnership appeared first on European Gaming Industry News.

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