Wed, Apr 24, 8:47am by Staff Writer
Gambling provider NOVOMATIC boasts another milestone in its strategy to expand across the Asia pacific region by announcing a partnership with fellow provider Indo Pacific Gaming.
Casino News Daily is reporting that the two parties have joined to supply the gambling markets of Laos, Cambodia, Sri Lanka, Vietnam, Nepal and the Indian state of Goa.
Under the recently inked deal, NOVOMATIC will be able to deliver its most successful casino games, sports betting products and technology solutions.
As mentioned, the deal is expected to drive the Austrian company’s planned Asia-Pacific expansion to a new level and open up new opportunities before the major group.
Founded in 1980 by billionaire businessman Johann Graf, Novomatic has grown into a major developer and provider of gaming and technology solutions for the gaming and betting industries.
The company currently employs more than 30,000 people in offices in more than 50 countries.
It provides its products including gaming equipment, games, system solutions, lottery products and related services to business-to-business and business to client clients in more than 70 countries.
Commenting on their recent partnership agreement with Indo Pacific Gaming, Novomatic chief executive Harald Neumann said in a press release from earlier today that the strategic step places his company in a better position to supply its products across the Asia-Pacific region.
Mr Neumann went on to say that their focus this year is to increase synergies and grow cooperation with other companies.
The executive defined the recently penned partnership with Indo Pacific Gaming as an important milestone in their strategy to reach out to an event wider audience.
Earlier this year, NOVOMATIC resealed another strategic partnership that secured it with expanded presence across Southeast Asia, primarily in the Philippines, Macau, Malaysia and Vietnam.
Under a distribution agreement with Jade Entertainment and Gaming Technologies, the latter would keep to be NOVOMATIC’s distributor for Southeast Asia.
— Casino Life Magazine (@casinolifemag) April 22, 2019
The two companies selected as the premium suppliers of gaming products and equipment for Corona Resort and Casino, located on Vietnam’s Phu Quoc island.
The gambling resort opened in mid-January with a number of slot machines and gaming tables.
The property is home to Vietnam’s first casino that permits Vietnamese nationals to gamble on its floor under a three-year pilot program spearheaded by the country’s government.
Residents must be aged 21 and over and be able to prove a monthly income of more than VND 10 million. They will also need to have no criminal record.
The move to allow locals to enter casinos in Vietnam has been met by criticism in the United States.
Card Player is reporting that a report released by the International Narcotics and Law Enforcement Affairs agency within the State Department said, “In 2018, Vietnam granted its first pilot licences to local casinos, increasing its money laundering risks if authorities do not ensure these establishments effectively implement and enforce anti-money laundering standards.”
The report also noted that “newly legalised local casinos” increase the likelihood of money laundering in the region.
It also pointed to the increase in economic crime in other parts of the region such as persistent illegal activity in Macau and the Philippines.
High-stakes poker player and Malaysian businessman Paul Phua was arrested in Macau for allegedly running an illegal sports betting ring out of a casino hotel room, although was cleared of those charges.
For Vietnamese locals, they will only be allowed to frequent casinos with a total investment of at least $2 billion.
Currently, that only includes Corona Resort and Casino. A second casino that fits these guidelines is expected to open in late 2019 in northern Vietnam.
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