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Their biggest success was Savan Vegas, strategically located near the Friendship Bridge linking Laos with neighboring Thailand across the Mekong River. A planned second resort, Paksong Vegas, was never built.
Within several years, however, the partnership had soured.
In 2012, Sanum and Lao Holdings, an Aruba-based company created to hold the investors’ interests in Sanum, accused Laos of trying to force them out of the country after Savan Vegas had become successful.
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Akolade said the ARGN was established to address the fragmented nature of responsible gambling efforts across Africa and create a platform for greater collaboration between organisations working in the space.
“ARGN was created because problem gambling is becoming a bigger issue across Africa and most responsible gambling efforts still happen within individual countries,” Akolade tells iGB. “While many organisations are doing great work, there has been limited opportunity to learn from each other, share research, or work together on common challenges.
“We felt there was a gap for a continent-wide network that could connect organisations, encourage collaboration, and help build a stronger collective voice on player protection. ARGN is not here to replace national organisations or regulators. Its purpose is to support and strengthen the work already being done by bringing people and organisations together.”
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The institutional layer is largely invisible to customers presented with a P2P proposition. Retail users may technically trade against one another, but the depth required by a mass-market product cannot be supplied by occasional customers alone. Professional firms must be prepared to quote continuously and commit substantial capital.
Marantelli says the London-based White Swan is a significant market maker on several secondary exchanges, accounting for as much as 40% of activity on some platforms. Its particular focus is the RFQ, parlay market.
“Just better margins,” he says of that decision. “I think it’s more defendable. It’s the area that fewer people can do well. So I think it’s more defendable margin, more ability to get long-term contracts and beneficial positions.”
