ASX-listed firm Frontier Capital Group (FCG) has entered into a definitive agreement with Singapore-based Monvest Group to take control of the Mongolian lottery as a “stepping stone” to developing a casino in the remote Asian nation.
Mongolia’s parliament is discussing legalising casinos in a bid to lure high-roller gamblers away from other Chinese resorts and boost its flagging economy.
Singapore-based Monvest Group is hoping that a three-year lottery licence extension in Mongolia will secure the operator’s listing on a German stock exchange.
The International Olympic Committee (IOC) yesterday opened the door to unprecedented collaboration with the legal betting industry as it met to develop a strategy for the future of sports betting which would centre around the creation of a new betting watchdog.
Following speculation over Genting’s approach for UK casino operator Rank Group yesterday, a new report by a Malaysian research group RHB suggests Malaysian casino operators and machine suppliers are well funded and well placed to benefit from regulatory changes in their own region, including liberalization of the Thai and Taiwanese casino markets.