Monthly Archives: March 2015

Harmen Brenninkmeijer on iGaming Regulation in Asia

Angelia Ong talks to Harmen Brenninkmeijer of Inspired Gaming Group as he talks about the state of igaming regulation in Asia.

Asia is the home to what has come to be recognized as the world’s most favorable jurisdictions for licensing and regulation of iGaming – the Philippines. Seated in the heart of the iGaming industry’s fastest growing market, Asia, means that it’s at the forefront of the globe’s online gambling industry. Investment in high-speed internet and state of the art infrastructure shows how serious they are about the industry. It’s attracting many of the world’s best gambling companies come here to do business.

There is nothing happening in Macau as neither the government nor the operators have shown any interest. Hong Kong has a strong stand against Internet gambling. Malaysia makes no mention of Internet gambling in their legal code but they make no effort hinder or encourage the practice. As we’re well aware, the Philippines is the only country in the region that has a regulatory body and China outlaws gambling and the promotion of such activities.

“I think what will happen is that a couple of the main countries are going to take the lead into it. I really hope that China will take a lead into it,” Brenninkmeijer said. “I hope that the Asian government will take measure in order to come out with a proper environment.”

2015 Champions League: Who will advance to the quarters?

Boy, oh boy. If there’s anything that Real Madrid-Schalke barnburner just taught us, it’s that you can expect a whole lot of nuttiness in the Champions League this season. I’ll be the first to admit that I had written off Schalke even before that return leg to Madrid. A 2-0 deficit against Real Madrid and then trying to make that up at the Bernabeu? Yeah, good luck.

Turns out, I was wrong. Way wrong. Schalke not only scored a 4-3 win, but they came so close to pulling off what would’ve been a stunning upset against the defending champions: Incredible! Real Madrid should be thankful they escaped with a 5-4 aggregate win, but not before they made everyone in Madrid lose their collective minds.

With that result, Madrid moves on to the quarterfinals where they’ll join FC Porto after the latter dismissed FC Basel rather convincingly in the other game earlier today.

Now it’s time to check out the remaining six games that will be played in the next six days.

Universal asks PAGCOR for new extension; local partner for Manila Bay Resorts being lined up

Universal Entertainment’s Philippine gaming unit Tiger Resort Leisure and Entertainment has requested an extension of the deadline to complete Manila Bay Resorts

In a letter dated February 15, Tiger Resort told the Philippine Amusement and Gaming Corporation (PAGCOR) that the company plans to increase the gross floor area of the property by 97,000 square meters, explaining that the additional space would be used to add “guest rooms and parking area and would also contribute to the strengthening of the structure and architectural design.”

Officials from both Tiger Resort and PAGCOR appeared before the House Committee on Games and Amusements earlier this week as part of the continuing investigation surrounding bribery charges filed against Okada. But instead of discussing those issues, the hearing mostly discussed the project’s timetable and the new extension requested by the casino operator.

Tiger Resort legal counsel Jose Lis C. Leagogo confirmed to reporters that the group requested for an extension, but PAGCOR, through President and Chief Operating Officer Jorge V. Sarmiento, reiterated its stance that any more delays could cost the company a significant chunk of money. “The immediate effect is if they (Okada group) failed to finish by March 31, 2015, it would mean forfeiture of the P100 million bond they submitted to us,” Sarmiento told reporters after the hearing.

Fitch Ratings still confident in Macau; Deutsche Bank is not

Global ratings agency Fitch Ratings is still optimistic about Macau’s long-term business, saying that business should pick up in the second half of the year.

“While the recent operating declines are concerning we are encouraged by the fact that the long-term fundamentals for the higher-margin, lower-volatility mass business remain intact,” the analysts said.

The agency projects Macau’s gaming revenue to slide by 4%, a figure that it says would represent “mild sequential improvement through the first half of 2015 relative to the last quarter of 2014. Gaming revenues would also be aided by the opening of Galaxy Macau and Studio City’s expansion projects.

Fitch Ratings added that while dividends may have to be cut as a result of the stagnating numbers, it remains hopeful that the six casino operators are all in good enough financial position to withstand the lower revenues.