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QTech announces global ambitions for 2019

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Fast-moving, Asia-focused distributor appoints Markus Nasholm to expand global footprint

QTech Games, Asia’s fastest-growing games distributor, has appointed Markus Nasholm to the new role of Global CEO, as it seeks to extend its presence and influence across the industry.

Nasholm has recently arrived at QTech Games after successful stints at Bet24 (part of the Kindred Group) and the casino and sports affiliate, Catena Media. There, he routinely proved himself across a suite of senior roles, having taken the reins as Chief Financial Officer in 2016. Showcasing a series of core capacities, from managing finance projects (featuring an IPO / listing on Nasdaq Stockholm Mid-Cap market) to broader international finance planning, Nasholm quickly established himself as a rising star of igaming.

Equally adept in the key domains of Corporate Development and M&A, this Chartered Accountant and MBA is well-equipped to oversee a brand’s maturation throughout worldwide markets, emerging or established, with a keen eye for global strategy.

Now Nasholm brings all his expertise and 15-plus years of industry experience to bear at one of the world’s leading online gaming platforms, based in the gaming mecca of Manila. Having already secured its status as the number-one aggregator in Asia, QTech Games has tasked Nasholm with replicating those gains across breakout territories, like LatAm and Africa, over the year ahead.

The Board of QTech Games issued a statement saying: “We’re thrilled to have installed Markus at the helm of the QTech team for 2019 and beyond. We’ve always been intent on recruiting only the best personnel on the planet, not just the best games, and this key hire is an embodiment of that mission statement.

“We now have a Global CEO who has proved himself in high-growth gaming arenas, from start-ups to venture-capital vehicles and on to multinational blue-chip companies. This breadth of multi-dimensional experience, allied to his innate team leadership and flair for bottom-line accountability, made Markus the logical choice to wisely steward the expansion of our global footprint into new territories.”

Nasholm himself added: “It’s a hugely exciting time to be taking on this new challenge alongside a few of the brightest minds in the industry, coupled to some of the most pioneering technology. After a successful 2018 of double-digit growth, enhancing the speed and performance of all games on its platform, QTech has careered into the industry consciousness with a series of new deals and innovative tools.

“Just take the landmark launch of our new campaign tool in Q4 2018 that will enable operators to run campaigns across the entire QTech portfolio. Such is the collective quality and passion of the team – from our machine-learning software to our targeted departments for Africa and Latin America – the distributional scope is there to facilitate QTech Games’ transition into one of the largest providers of digital entertainment around.”

 

About QTech Games:

QTech Games is the fastest growing game distributor in Asia. Its mission is to find the best online (RNG) games in the world and distribute them to operators in Asia. Mobile games provide the central focus of the company, which is premised on a fully-owned and customised technical platform that affords games providers and operators the fastest, most effortless integration on the market. Through this platform, clients enjoy the best performance and customer support available. QTech Games’ goal is to become the largest provider of digital entertainment in Asia by 2021.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: QTech announces global ambitions for 2019

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Intralot and Intracom deny news of merger

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Greek gambling company Intralot and local IT holding firm Intracom have both denied news about their potential merger. In their separate statements, which curiously looked identical, both companies stressed that the news did not “correspond to reality.”

There had been rumours that a mega-merger of Intralot and Intracom was on the cards. The rumours emerged after Intralot suffered a drop of the nominal value of its bond and a downgrading of its credit rating at the start of the year.

The rumour gained ground because Intralot and Intracom have the same founder and majority shareholder – Greek business mogul Sokratis Kokkalis. Mr. Kokkalis stepped in as the new CEO of the gambling company early this month, replacing Antonios Kerastaris. The now former Chief Executive of the Greek gaming, betting, and lottery group departed after Intralot lost its bid to continue providing sports betting technology to Turkey’s state-owned operator Iddaa.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Intralot and Intracom deny news of merger

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PAGCOR Press Statement on Quezon City’s insistence to impose casino entry fees

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As Quezon City Vice Mayor Joy Belmonte continues to insist on the imposition of entrance fees to Quezon City residents who wish to play in casinos and other gambling facility in the area, the Philippine Amusement and Gaming Corporation (PAGCOR) underscores several cases and provisions that cite the supremacy of national government over local government units.

First, in “Basco vs. PAGCOR (1991)”, wherein the City of Manila filed a case seeking to annul the PAGCOR charter, the court ruled that Presidential Decree (P.D.) 1869 waived the right of the city to impose taxes and fees. The court decision cited that the power of the local government to impose taxes and fees “is always subject to limitations which Congress may provide by law.”

It furthered that P.D. 1869 remains an operative law, until amended or repealed.

Another case, “City of Cagayan de Oro vs. Pryce and PAGCOR (1994)”, cited that ordinances should not contravene a statute that is obvious. It stated that “municipal governments are only agents of the national government; and local councils exercise only delegated legislative powers from Congress as the national law-making body.” Hence, local government units cannot be superior to Congress from which they derive their powers.

The third case, “Herbert Bautista vs. PAGCOR (2016)”, cited that under its Charter, PAGCOR and its agents are exempted from paying local taxes as P.D. 1869 Section 13 provides that “no tax of any kind or form, income or otherwise, as well as fees, charges or levies of whatever nature, whether national or local, shall be assessed and collected under this Franchise from the Corporation nor shall any form of tax or charge attach in any way to the earnings of the Corporation, except a franchise tax of five percent of the gross revenue or earnings derived by the Corporation from its operation under this franchise.”

The entry fees on the city residents who will enter the casino which the Quezon City local government is contemplating on imposing, takes the form of “tax” because of its nature to generate revenues.

However, if the purpose of the imposition of entry fees is to discourage citizens to frequent gaming facilities, such practice is an obvious exercise of police power, and in fact, an encroachment on the function of a national regulatory entity.

PAGCOR, having been granted by Congress with the power to regulate gambling, has the authority to determine the rules and regulations that may deem fit in the regulation of the gaming industry.

If PAGCOR does not find it necessary to impose entrance fees to its clients, then Quezon City’s local government cannot supersede this even if it claims that the imposition of entry fees is only applicable to their constituents.

Besides, if the local government of Quezon City believes that doing such is tantamount only to “safeguarding the welfare of their people”, why did it grant so many Letters of No Objection (LONOs) and Resolutions of No Objection (RONOs) to bingo and other electronic gaming sites in Quezon City?

As of February 28, 2019, there are 97 electronic gaming sites in Quezon City. Of this number, 63 are bingo sites and 34 are eGames gaming sites. This figure does not include the LONO and RONO granted by Quezon City government to Solaire Resort and Casino.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: PAGCOR Press Statement on Quezon City’s insistence to impose casino entry fees

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Blackstone to acquire Ukrainian gaming development company

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The Blackstone Group LP, a US-based investment and asset management company, is all set to acquire Murka Ltd and Murka Entertainment Ltd, an Unranian company that develops unique social and mobile games. The Blackstone Group has already informed Cypriot Commission for the Protection of Competition about the plan.

Murka, established in 2011, is known for its social-casino games like Slots Journey, Slots Journey 2, TX Poker, S & H Casino, Vegas Slots, Royal Fortune Slots, Bubbla Cadabra and Scatter Slots.

These games, where real money cannot be won, exist as mobile apps and on Facebook. Publisher of social casino games earns money via selling in-game content and/or advertising. According to various data, the global social casino market in 2018 brought publishers from $ 3.2 billion in total to $ 3.46 billion on mobile platforms.

Currently, over 100 people work in the Kiev, Dnipro and Lviv offices of Murka. The company has not commented the conditions of the upcoming transaction yet.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Blackstone to acquire Ukrainian gaming development company

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