What Carnival Entertainment does

The company is presented in firmographic inputs as Carnival Entertainment, a Mumbai-based for-profit entity founded in 2011 (11-50 employees) described as creating, producing, and developing media properties for live events and managing shows and concerts. However, all operational, partnership, technology, product, and growth data attached to this profile describes Open88, an iGaming platform launched in 2021, headquartered in London (UK) with operational offices in Ho Chi Minh City (Vietnam), operating under the OKVIP Alliance.

The operational entity offers an integrated suite of online gambling products: sports betting (via UG, BTi, SABA, SBOBET, CMD), live casino with 4K streaming (Evolution, Dream Gaming, AE Sexy), progressive jackpot slots up to 5.5 billion VND (JILI, CQ9, Pragmatic Play, Microgaming), 3D card games (V8 Poker, Kingmidas, KS Gaming, Baison), fishing games, online lottery, and cockfighting betting. Distribution is via web, iOS/Android mobile apps, an agent/affiliate network, and Telegram/Facebook channels. The platform integrates nine payment rails spanning bank transfer, e-wallets (Momo, OKPAY, ATTPAY, PPPAY, YEEPAY, PAY79), QR codes, USDT crypto (RCPAYVND), and scratch cards (GAUCONPAY, 88PAY). Licenses are held from Isle of Man, Curacao, and Malta Gaming Authority, with GEOTRUST security and iTech Labs RNG certifications.

Revenue is generated through house edge on casino and slot games (RTPs 96.1%-98.9%), sportsbook margin, and transaction fees on deposits/withdrawals, supplemented by promotional margins (e.g., 200% first-deposit match). Marketing is product-led with affiliate/agent commissions. Registered users grew from 1.5M (2021) to 8M (2025) to 10M (2026). The substantial divergence between the firmographic description (Mumbai live-events media producer) and the operational data (Vietnam/UK iGaming platform) indicates a data-aggregation inconsistency that materially affects the reliability of any analysis based on this profile.

Note: The firmographic identity (Carnival Entertainment, Mumbai, 2011, live-events media) and the operational data (Open88, London/HCMC, 2021, iGaming) are inconsistent. This description reflects the operational data, which is the substantive evidence base.

Name

Carnival Entertainment

Legal name

Open88

Website

https://carnivalmedia.in

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Open88 is an iGaming platform operating under the OKVIP Alliance, offering sports betting, live casino, slots, card games, fishing, lottery, and cockfighting to 10 million registered consumers across Asian markets via web, mobile, and agent channels.

Ownership category

akta.pro rank

Product category

Online Gambling / iGaming

NAICS

Gambling Industries (7132), Other Gambling Industries (71329)

SIC

Services-Miscellaneous Amusement & Recreation (7990)

akta.pro primary industry

iGaming Platform Providers (Turnkey/Casino & Sportsbook Platforms) (MPAEAKAA)

Keywords

• Online gambling platform
• Sports betting services
• Live casino gaming
• Progressive slot games
• IGaming technology

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Marketing or Sales, Operations, Personnel, Infrastructure

Revenue model

1. Gaming Transaction Fees: Platform generates revenue through transaction fees on deposits and withdrawals, plus house edge on casino games, sports betting margins, and slot game RTPs (Return to Player percentages ranging from 96.1% to 98.9%)
2. Promotional Revenue Share: Revenue generated from promotional programs where platform retains margin on bonus offers such as 200% first deposit match and referral bonuses

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Carnival Entertainment operates the Open88 iGaming platform, offering an integrated suite of online gambling products including sports betting, live casino with 4K streaming, progressive jackpot slots, 3D card games, fishing games, lottery, and cockfighting. The platform serves adult online gaming enthusiasts in Asian markets (primarily Vietnamese-speaking) via web and mobile applications, with content aggregated from 50+ game publishers including Evolution, Pragmatic Play, Microgaming, JILI, and CQ9.

Product overview

Open88 is a unified iGaming platform operating as part of the OKVIP Alliance, offering an integrated suite of online gambling products. The platform combines a core sportsbook with live casino, progressive jackpot slots, 3D card games, fishing games, lottery, and cockfighting betting—all accessible via a 50MB mobile app. The product portfolio centers on sports betting as the primary offering, supplemented by entertainment gaming verticals including slot games (Nổ Hũ) with progressive jackpots, live dealer casino with 4K streaming, card games with cross-national tournaments, and fishing games. The platform operates through partnerships with 50+ game providers including Evolution, Pragmatic Play, Microgaming, JILI, CQ9, and sportsbook platforms UG, BTi, and SABA.

Differentiator

Problem solved

Functional benefit

Products and services

• Open88 Sports Betting Online sports betting platform offering thousands of daily betting odds across football, basketball, tennis, esports, and virtual sports, integrated through UG, BTi, and SABA sportsbook platforms. Targeted at sports betting enthusiasts seeking diverse markets and competitive odds.
• Open88 Slot Games (Nổ Hũ) Progressive jackpot slot games featuring 3D graphics from JILI, CQ9, and Evolution providers, with high RTP rates and cumulative jackpot prizes reaching up to 5.5 billion VND. Targeted at slot game enthusiasts seeking high-payout entertainment.
• Open88 Live Casino Real-time streaming casino with 4K quality video featuring professional live dealers for Baccarat, Roulette, Crazy Time, Blackjack, and Dragon Tiger games. Targeted at players seeking immersive casino experiences with high-quality live streaming.
• Open88 Card Games (Game Bài) Collection of 3D card games including Tiến Lên Miền Nam, Phỏm Tá Lả, Xì Tố, Bài Cào 3 Lá, and Mậu Binh with cross-national tournament competitions. Targeted at traditional Asian card game enthusiasts.
• Open88 Fishing Games (Bắn Cá) Online fishing games with 3D graphics and sound effects from CQ9, KA Gaming, JILI, FC, JDB, and TP providers, featuring automatic shooting capabilities. Targeted at casual gaming enthusiasts.
• Open88 Lottery (Xổ Số) Online lottery and number betting games integrated into the platform. Targeted at lottery players seeking convenient online access to number-based games.
• Open88 Cockfighting (Đá Gà) Online cockfighting betting matches integrated with the sports betting section. Targeted at regional players interested in traditional cockfighting wagering.
• Open88 Mobile App Mobile application for iOS and Android with 50MB capacity enabling 24/7 access to betting, account management, and the full game library. Targeted at mobile-first gaming users.
• Open88 Affiliate Program Partnership program allowing affiliates and agents to earn passive income with unlimited commission based on referred users and their activity. Targeted at individuals seeking referral-based income from the gaming platform.

Quantifiable outcome

• 98% customer satisfaction rate
• +4 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration29 records

Feature6 records

Partnerships

Ten partnerships are on record, tiered core and flagship.

• OKVIP AlliancecoreStrategic or Co-development PartnerOpen88 is a member of OKVIP alliance, which increased investment capital by 300% and provided access to the alliance's network and resources. OKVIP serves as the parent organization overseeing Open88's operations.
• Evolution GamingflagshipTechnology or IntegrationPremier live casino provider supplying 4K livestream casino games including Baccarat, Roulette, Blackjack, and Crazy Time with professional dealers
• Pragmatic PlayflagshipTechnology or IntegrationMajor slot game provider offering popular titles like Gates of Olympus, Sweet Bonanza, and Wild West Gold with high RTP percentages
• MicrogamingflagshipTechnology or IntegrationEstablished gaming software provider contributing to the diverse game portfolio
• JILIcoreTechnology or IntegrationGame provider supplying slot games and fishing games including Dino Tycoon and popular titles
• CQ9 GamingcoreTechnology or IntegrationAsian game developer providing slot and fishing games with localized content
• SBOBETcoreTechnology or IntegrationSports betting platform providing odds and betting markets for sports wagering
• UG (Sportsbook)coreTechnology or IntegrationSports betting platform supplying betting options and live odds for sporting events
• BTi (Sportsbook)coreTechnology or IntegrationSports betting platform providing competitive odds and diverse betting markets
• Dream GamingcoreTechnology or IntegrationLive casino provider specializing in Asian market with professional dealers

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• SBOBET: Asia-focused sportsbook operator offering odds across football, basketball, tennis and esports. Listed as both a partner and a competitor in the sportsbook vertical for Open88.
• Dafabet: Pan-Asian iGaming and sportsbook brand with multi-vertical offerings (sports, casino, live dealer). Closely comparable customer base and product mix to Open88.
• 1xBet: Large global iGaming and sportsbook operator with deep presence in Asia, Africa, and CIS. Comparable multi-vertical platform and aggressive affiliate-led acquisition model.
• W88: Asia-focused online gambling and sportsbook operator offering casino, slots, and sports betting. Directly comparable to Open88 in vertical mix, regional targeting, and reliance on tier-1 game publisher integrations.
• M88 (Mansion88): Established Asian online sportsbook and casino brand operating under Curacao/Isle of Man licensing. Comparable licensing footprint and vertical mix to Open88.
• 22Bet: Multi-vertical international iGaming operator with strong Asian and emerging-market presence. Comparable platform structure, licensing, and use of aggressive promotional economics.
• Fun88: Asian-targeted online betting platform with sportsbook, casino, slots and live dealer. Comparable in regional focus, vertical breadth, and use of affiliate-driven growth.
• Melbet: International online sportsbook and casino operator with Curacao license and Asian market presence. Comparable product breadth and reliance on tier-1 publisher content.
• BK8: Southeast Asia-focused iGaming operator with sportsbook, live casino and slots, marketed via affiliate networks. Overlapping customer profile and distribution model with Open88.

Broad incumbents

• Bet365: Global leader in online sportsbook and casino operating across multiple regulated markets. Comparable product surface area but vastly larger scale, geographic reach, and regulatory footprint.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/carnival_media
• Facebookfacebook.com/carnivalmedia
• LinkedInlinkedin.com/company/carnival-media

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Carnival Entertainment