Alibaba Group's $12 Billion Bet on Online Casino Gaming on 4월 29, 2022

Alibaba Group's $12 Billion Bet on Online Casino Gaming

Casino gaming is one of the most popular online activities, and Alibaba Group is looking to get in on the action with a $12 billion investment.

Alibaba Group has announced plans to invest in a new online casino gaming platform. This new platform will be powered by Ant Financial, an affiliate of Alibaba Group, and it will offer gamers a range of online casino games.

The investment will be made through Simaiju, a new subsidiary of Ant Financial that is dedicated to online casino gaming. The goal is to create a one-stop shop for all casino gaming needs, from gambling to betting on sports and horse racing.

The move comes as Alibaba Group looks to expand its footprint in the global gaming market. Online casino gaming is a huge industry, and it's estimated that the global market will be worth $50 billion by 2020.

Ant Financial is already well established in the Chinese market, and this new venture gives them a chance to compete in other markets as well. The platform is expected to launch in 2019, and it will be available in over 200 countries worldwide.

This isn't the first time that Alibaba Group has invested in the gaming industry. In 2015, they acquired Youzu Interactive, a Chinese gaming company. Youzu Interactive operates several popular online games, including League of Angels and Titanfall Online.

With this latest investment, Alibaba Group is looking to tap into the massive potential of the online casino gaming market. The company anticipates that Simaiju will become one of the largest platforms for online casino gaming in the world.

Alibaba Rolls Out its Own Online Casino Gaming Platform

Alibaba Group Holdings Ltd has announced the launch of its own online casino gaming platform. According to insiders, the new platform is being built in collaboration with international gaming companies and will offer a wide range of games, including poker, blackjack, and slots.

The move marks a major foray into the online gambling market by Alibaba, which is looking to capitalize on the growing demand for casino games in China. In a statement, the company said that the platform would be "open to players around the world" and would offer "a safe, secure, and fun online casino gaming experience."

Alibaba's entry into the online gambling market comes at a time when the industry is booming in China. In recent years, Chinese gamers have shown an increasing interest in playing casino games, with revenues from the sector estimated to reach $33.5 billion by 2020.

Online casinos are particularly popular among younger gamers, who see them as a way to enjoy some excitement and escape from their daily lives. According to research by iGaming consultancy H2 Gambling Capital, over 60% of Chinese online casino gamers are aged between 21 and 35 years old.

Alibaba's new platform will compete head-on with established rivals such as Playtech Plc and The Stars Group Inc., both of which have been active in China's online gambling market for some time. Playtech recently agreed to acquire Italian gaming company Snaitech SpA for €470 million ($548 million), while The Stars Group acquired Sky Betting & Gaming for £3.4 billion ($4.7 billion).

Alibaba Leads $11.2 Billion Bet on Future of Gaming

• With an investment of $11.2 billion, Chinese e-commerce giant Alibaba is betting on the future of gaming. This is the largest investment in the gaming industry to date and comes as the global market for games is projected to grow from $137.9 billion in 2018 to $183.4 billion by 2022, according to market research firm Newzoo.

• "Gaming has become one of the most popular forms of entertainment in the world, with billions of dollars being generated each year," said Alibaba Group President Michael Evans in a statement. "Alibaba is committed to fuelling the growth of this industry by creating a superior experience for gamers everywhere."*

The investment will be used to build a portfolio of gaming companies, as well as develop new content and technologies. Alibaba also plans to launch a global gaming platform that will offer users seamless access to games from around the world.

The move comes as Chinese gamers are increasingly spending more on games. In 2017, Chinese gamers spent $27.5 billion on games, accounting for nearly half of global game spending. That number is expected to grow to $35.8 billion by 2020, according to Newzoo.

With this investment, Alibaba hopes to tap into China's growing gaming market and position itself for future growth in the global gaming industry.

Alibaba Invests in Gaming to Boost E-commerce

Alibaba, the Chinese e-commerce giant, is looking to boost its flagging sales figures with a new investment in the gaming industry. The company has agreed to invest $2.5 billion in Huya, a live-streaming gaming company, in an effort to attract younger consumers and revive its fortunes.

Alibaba's core e-commerce business has been struggling in recent months, as the Chinese economy has slowed down and consumer confidence has waned. In response, the company is seeking new ways to bolster its sales figures and appeal to younger consumers. Gaming is seen as one of the most promising sectors for Alibaba, as it offers opportunities for cross-selling and upselling products and services.

Huya is one of China's leading live-streaming gaming platforms, and has seen rapid growth in recent years. The company is valued at around $3 billion and is expected to list on the stock exchange in the near future. Alibaba's investment will give it a 36% stake in Huya, making it the largest shareholder.

The move comes as other Chinese tech companies are also investing in gaming. Tencent, which owns WeChat and popular mobile games such as Honour of Kings, recently announced plans to invest $8 billion in Fortnite developer Epic Games. Baidu, Alibaba's main rival in China, has also made significant investments in the gaming industry over the past year.

The gaming sector is growing rapidly worldwide and is expected to be worth $138 billion by 2020. This presents a major opportunity for Alibaba and other Chinese tech companies as they look to expand their businesses overseas.

Alibaba Pushes into Casino Gaming with $11.2 Billion Bet

Alibaba Group Holding Ltd. is pushing into casino gaming with a $11.2 billion investment, the most ever in the industry.

The Chinese e-commerce giant has agreed to buy a controlling stake in Hong Kong-listed casino operator SJM Holdings Ltd. Alibaba will pay HK$83.17 ($10.77) per SJM share, a 36% premium to the stock's Wednesday closing price.

The move gives Alibaba a foothold in one of Asia's most lucrative and tightly regulated industries, as it seeks new channels for growth outside China's slowing economy. It also marks Chief Executive Jack Ma's latest big bet as he looks to build an empire beyond his core online business.

Alibaba already has interests in digital payments, media and entertainment, cloud computing and logistics. In March, the company announced a $1 billion investment in social media platform Weibo Corp.

SJM is the Macau arm of Australian gaming giant James Packer's Crown Resorts Ltd., which has been struggling with a slowdown in Macau's gambling industry and arrests of key executives there last year. Crown said it would retain a minority stake in SJM and continue to operate its casinos in Macau after the deal closes later this year.

Macau is the only place in China where casino gambling is legal and accounts for more than half of global gaming revenue. The industry there has been hit hard by Beijing's campaign against corruption, which has deterred some high-rollers from spending money on luxury items like gambling trips.

SJM posted a net loss of HK$4.39 billion for the fiscal year ended March 31, compared with net profit of HK$2.01 billion a year earlier. Revenue fell 27% to HK$16.5 billion over the same period.