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iCandy Acquires Renowned Lemon Sky Studios, To Form Largest Game Development Company in Australia and Southeast Asia

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iCandy Interactive Limited announced its 100% acquisition of the leading Southeast Asian gaming studio, Lemon Sky Studios. This acquisition adds strategic value and significant scale to iCandy’s existing capabilities. It will form the largest pure-play game development company on the Australian Stock Exchange, and in Australia and Southeast Asia too, with more than 450 employees while generating no less than A$17 million (US$12.36 million) revenue per annum.

With significant interest and best-regarded growth in gaming driven by the metaverse concept, iCandy Interactive and Lemon Sky will be a leading powerhouse through its regional expansion plans in developing casual and AAA gaming on blockchain for the open metaverse.

The metaverse is a virtual world that allows work and play, shared by millions (or billions) of people. It is built with next-generation technology encompassing Virtual Reality, Augmented Reality and Video and Gaming technologies.

iCandy Interactive’s core business is in game development, game publishing, and esports. The company is the co-founder of the global esports league and platform, Esports Players League (ESPL), fast-growing across 17 countries in Southeast Asia, South Asia, Latin America and Europe.

Games on the iCandy network are played by over 360 million mobile gamers worldwide. The gaming studios based in Malaysia, Singapore and Indonesia have won multiple awards, including Google Play’s Best of 2016 and 2017 New Android Excellence Game Award* Games Award for Crab War and other various coveted international events.

Its latest game release, Claw Stars, is a top-rated mobile game with over 1 million downloads since its initial release in July 2021. It has received more than 50,000 4-star and 5-star reviews on Google Play and App Store.

Founded in 2006, Lemon Sky Studios is an award-winning video game and animation studio world-renowned for providing innovative visual art solutions for critically acclaimed

AAA gaming titles ranging from Overwatch 2, Call of Duty – Infinite Warfare, to SimCity, Diablo 3, StarCraft: Remastered, amongst many other illustrious titles.

The studio has amassed an incredible clientele over its 15-year history, working with gaming industry leaders such as Blizzard Entertainment, Naughty Dog, 2K Games, Square-Enix, Bandai Namco, Microsoft Studios, EA Entertainment, Disney and Nickelodeon.

“Lemon Sky Studios is a phenomenal acquisition and an excellent addition to iCandy Interactive. We now have this unparalleled capability in the region, we will focus a fair bit of our newly gained superpower to make high-quality games for the metaverse, arguably the most important development for the gaming world.” says Kin W. Lau, Chairman of iCandy Interactive.

He adds, “Lemon Sky Studios’ track record in creating world-class visuals for AAA games is highly regarded in the industry. To merge our expertise with a studio like Lemon Sky is truly phenomenal, and we cannot wait to see the outcome of integrating our teams,”

“Collaborative partnerships in the creative industry are pertinent to keeping things fresh and innovative. We are positive that this merger will encourage creative working methods and bring about new ideas. We are extremely excited about the possibilities that lie ahead,” said Cheng-Fei Wong, CEO of Lemon Sky Studios.

The acquisition will be at a valuation of MYR135 million (A$44.5 million, US$32.4 million), to be fulfilled together with cash and newly issued iCandy shares.

Concurrent with the acquisition, iCandy has also announced that it has raised A$40 million (US$29.1 million) from institutional investors via a placement that is heavily oversubscribed.

Leading iCandy’s latest fundraising round is another gaming heavy-weight, Animoca Brands, iCandy’s cornerstone investor. Animoca is a global leader in gamification technology and blockchain gaming with an extensive portfolio of over 100 investments in NFT-related companies and decentralised projects contributing to building the open metaverse. They raised more than US$200 million in 2021 and is currently valued by investors at US$2.2 billion. Separately, The Sandbox – Animoca’s subsidiary raised US$93 million recently, in a round led by Softbank Vision Fund 2.

The global video game industry is estimated to be worth A$214.33 billion (US$155.95 billion) in 2020**. With the APAC region leading the industry at 49% of the worldwide market, there is a clear pathway for growth with enormous upside potential expansion.

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Galaxy Entertainment Opens New Overseas Office in Singapore

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Galaxy Entertainment Group (GEG) has opened a new overseas office in Singapore. This strategic initiative marks a new chapter in GEG’s growth trajectory and underscores its commitment to promoting Macau as the “World Centre of Tourism and Leisure” to a broader audience across Southeast Asia.

Singapore, one of Asia’s most vibrant and cosmopolitan countries, has long been a key source market for Macau. The new office, located in the heart of Singapore’s Central Business District, will serve as a dedicated hub to enhance connections with the Singaporean business community, as well as showcasing to Singapore and the broader Southeast Asian Region Macau’s dynamic evolving tourism landscape-highlighting its rich cultural heritage, luxury hospitality and increasingly diverse world-class leisure and entertainment experience offering.

The opening of Galaxy’s Lion City office is closely aligned with the Macao SAR Government’s vision to diversify tourism offerings and expand visitor demographics. Through its ramped-up Singapore presence, GEG aims to curate bespoke travel experiences tailored to the preferences of Singaporean and regional travelers, ensuring seamless journeys from planning to arrival.

GEG’s new office will support tourism, meetings, incentives, conferences and exhibitions (MICE) inquiries, reinforcing its role as a versatile hospitality leader and a trusted partner for business tourism.

In addition, GEG’s Singapore office reflects the Group’s forward-thinking approach to innovation, customer-centricity and regional collaboration. It also signals GEG’s intent to enhance brand visibility and foster meaningful connections with travelers and stakeholders across Asia.

To celebrate the grand opening, GEG hosted an elegant gala dinner at JW Marriott Singapore, welcoming distinguished guests, business partners and media representatives. Mr. Elmen Lee, Director of Integrated Resort Services at GEG, introduced to the guests the Group’s three flagship properties in Macau-Galaxy Macau and Galaxy International Convention Center, Broadway Macau and StarWorld Hotel.

Mr. Lee said: “Singapore has always been an important source market for Macau. The taste and sophistication of Singaporean travelers naturally align with Macau’s experiential tourism offering. We firmly believe that Galaxy Entertainment Group’s diverse offerings will attract more Singaporean visitors to visit us and explore more. In support of the Macao SAR Government’s vision to promote tourism diversification, Galaxy Entertainment Group is continuing to expand its international visitor base to inject more vitality into Macau.”

Galaxy Macau, Broadway Macau and StarWorld Hotel bring together luxurious accommodations, award-winning dining, premium shopping and world-class entertainment facilities; each with its own unique character. With Galaxy Macau home to nine of the world’s leading luxury hospitality brands under one roof, catering to the diverse needs of international travelers; the Galaxy trio collectively showcases the excellence of Macau’s hospitality industry.

The post Galaxy Entertainment Opens New Overseas Office in Singapore appeared first on European Gaming Industry News.

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Kazakhstan Considers Criminal Penalties for Promoting Online Casinos

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Kazakhstan’s Financial Monitoring Agency (FMA) has identified 34 bloggers promoting online casinos on social media, with 11 already facing administrative penalties. The agency has stated that fines alone are not deterring repeat offenders and is now considering introducing criminal liability for such activities.

A law passed in 2024 strictly prohibits outdoor advertising for bookmakers, online casinos and betting pools, as well as their promotion in media, films and video content. According to the FMA, over the past two and a half years, more than 200 illegal gambling operations have been dismantled, and 224 individuals have been held criminally accountable. However, the agency notes that the primary threat now stems from online casinos based abroad.

Since the beginning of this year, authorities have blocked more than 17,000 links, mostly mirror sites for foreign platforms. Despite these efforts, some Kazakhstani payment service providers continue to facilitate transactions linked to such websites. The FMA has pledged to intensify investigations into these financial intermediaries.

Influencer marketing remains a key channel for online gambling promotion. In the first half of the year alone, 34 influencers were identified as advertising gambling services, with 11 fined. But according to the FMA, revenues from such promotions far exceed the cost of the fines, creating incentives for repeated violations.

In response, the agency is exploring whether bloggers’ actions could be legally interpreted as aiding and abetting illegal gambling, a charge similar to promoting financial pyramid schemes, which already carries criminal penalties under Kazakhstani law. Currently, fines for illegal advertising on social media start at 200,000 KZT (approximately $420).

The post Kazakhstan Considers Criminal Penalties for Promoting Online Casinos appeared first on European Gaming Industry News.

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Skyesports Wraps Up Gaming Thiruvizha – Chennai Edition With 17,000+ Fans in Attendance

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Skyesports, the premier global IP and community builder, has successfully wrapped up the first-ever edition of Gaming Thiruvizha at the Chennai Trade Centre on August 30–31, bringing together more than 17,000 fans across two unforgettable days of gaming, anime, stand-up comedy, cosplay, music, and culture.

Gaming Thiruvizha turned out to be more than an event as it became a two-day carnival. From esports showdowns at LAN zones to cosplay walks, live stand-up, and Tamil cultural showcases, the Chennai crowd transformed the Trade Centre into a festival that truly belonged to them. Fans didn’t just attend; they stayed, celebrated, and created memories together.

The audience mix was as vibrant as the festival itself: college students, families, and kids all came together, proving that gaming and anime are no longer niche hobbies, but shared cultural movements.

Powered by AMD, with ticketing exclusively on KYN, Gaming Thiruvizha was hosted in association with the Sports Development Authority of Tamil Nadu (SDAT) and supported by AGS Cinemas as the Chennai Edition Theatre Partner.

Commenting on the conclusion of the Gaming Thiruvizha, Shiva Nandy, Founder and CEO, Skyesports, said, “We couldn’t have asked for a better first edition of the Gaming Mahotsav. The energy of the crowd and the diversity of the audience reminded us why we built this IP — to bridge the gap between casual gamers and esports, and to create a space where gaming, anime, and culture thrive together. Next up, we will be bringing the concept to Bangalore in late September,” said Shiva Nandy, Founder and CEO of Skyesports.

The festival also welcomed dignitaries including Meghantha Reddy (Sports Development Authority of Tamil Nadu), Darez A. (MD, Guidance Tamil Nadu), and Gayathri Thyagarajan (Founder & CEO, Kynhood Technologies), underlining the growing recognition of gaming and esports as part of Tamil Nadu’s cultural and creative economy.

 

Highlights of the event include:

  • LAN tournaments across BGMI, Valorant, and other titles, with fans cheering players on in true stadium style.
  • A pan-India Cosplay competition bringing cosplayers from across the country with stunning costumes judged by top creators and anime experts.
  • Red Bull Armageddon, India’s first all-Armageddon format chess tournament, brought together over 350 players in Chennai with International Master Tania Sachdev and Grandmaster M. Shyam Sundar leading the action.
  • Merch alleys buzzing with anime and gaming collectibles alongside local Tamil art.
  • Stand-out experiential booths and meet-and-greets with Team Tamilas, Autobotz Esports, and Welt Esports.
  • PVR Cinemas set up local food experience stalls for attendees

With India on track to reach 700 million gamers by 2027, and anime/cosplay engagement skyrocketing across social media, Gaming Thiruvizha demonstrated that hyperlocal, immersive festivals are the way forward.

Gaming Thiruvizha is the first chapter of Skyesports’ Gaming Mahotsav, a six-city touring pop culture festival with regional editions in Bengaluru, Hyderabad, Mumbai, Kochi, and Pune. Each stop blends gaming, anime, music, comics, and local culture into one cohesive community celebration.

The post Skyesports Wraps Up Gaming Thiruvizha – Chennai Edition With 17,000+ Fans in Attendance appeared first on European Gaming Industry News.

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