Continent 8 Technologies appoints David Brace to the executive leadership team

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AGBrief Editorial

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November 19, 2025

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Continent 8 Technologies appoints David Brace to the executive leadership team

Continent 8 Technologies has announced the promotion of David Brace to its executive leadership team. In his new role, Brace will serve as practice lead for AWS solutions, spearheading the company’s continued expansion and innovation within the Amazon Web Services (AWS) ecosystem.

The appointment follows Continent 8’s selection as an official AWS Solution Provider under the Solution Provider Program (SPP). This has enabled Continent 8 to augment its AWS portfolio, including Managed AWS Workloads, Managed Hybrid Network, and AWS Cloud Migration.

Michael Tobin, Continent 8 — Michael Tobin, CEO at Continent 8

Michael Tobin, CEO and Founder at Continent 8 Technologies, said: “Over the past eight years at Continent 8, David has consistently demonstrated a deep and nuanced understanding of technology, infrastructure, and the regulatory landscape – both on industry panels and directly with our customers. His expertise is widely respected, and this promotion is a well-earned recognition of his contributions.

“David’s elevation to the executive team comes at a pivotal moment for our business, as we sharpen our strategic focus on cloud innovation. He is the ideal leader to drive our AWS practice forward, bringing vision, experience, and a customer-first mindset. With continued investment in this area, we’re committed to delivering AWS solutions that are secure, scalable, and tailored to the unique demands of the iGaming sector.”

Commenting on the promotion, David Brace, Chief Alliance & Partnership Officer-AWS, at Continent 8 Technologies, shared: “I’m honoured to join the executive team and lead our AWS practice. The iGaming industry is evolving rapidly, and cloud adoption is central to that transformation. Our goal is to simplify the journey for our customers – whether they’re launching in new markets, navigating regulatory frameworks, or scaling their operations globally. With AWS and Continent 8’s combined capabilities, we’re uniquely positioned to deliver.”

Continent 8 has vast experience in delivering AWS solutions to the industry. The company has already delivered 90% of AWS Outposts in the industry to major brands in the regulated betting and gaming market, including FanDuel, Fanatics Betting & Gaming, and Hard Rock Digital.

This amount, included in the Macau SAR 2026 Policy Address document, if achieved, would represent 80 percent of the total MOP114.8 billion ($14.4 billion) in taxes collected during the year. Revenue from concessions is divided into gaming concessions revenue and public utilities revenue, with the former comprising most of this value.

The amount projected by the Macau government would represent a slight reduction from the MOP93.3 billion ($11.7 billion) predicted for 2025.

For the first 10 months of 2025, gaming tax revenues totaled MOP77.5 billion ($9.68 billion), a 6.1 percent increase from the same period in 2024, contributing to an overall government revenue of MOP92.6 billion ($11.6 billion), with gaming tax representing 78.9 percent of this total.

Under Macau’s 10-year gaming concession system, which began on January 1, 2023, the effective tax on casino gross gaming revenue (GGR) is 40 percent.

The government’s annual budget for gaming duty revenue in 2025 so far is MOP93.1 billion ($11.6 billion), meaning that the revenue collected in the first ten months has reached 87.5 percent of its target.

The city’s top official, Sam Hou Fai, in his recent Policy Address, warned that gross gaming revenue (GGR) remains below expectations and is unlikely to meet targets by the end of the year, citing the sector’s vulnerability to external economic conditions.

Macau authorities chose not to provide their usual estimate for the 2026 GGR, citing an unstable and unpredictable international economic environment.

Earlier this year, the city government reduced its 2025 GGR forecast by around 5 percent, to MOP228 billion ($28.5 billion) from a previous projection of MOP240 billion ($30.0 billion).

While Macau has experienced a surge in tourism, not all of this has translated into GGR gain, and certain complications – such as typhoons – have hindered growth in key periods that would normally drive its expansion.

SJM, which operated a wide portfolio of nine satellite casinos, has already ceased operation in its Casino Casa Real, Emperor Palace, Legend Palace, and Casino Grandview casinos, having promised to acquire the properties of Casino L’Arc Macau and Casino Ponte 16, and operate them directly from next year on.

Meanwhile, Galaxy Entertainment Group’s sole satellite operation, Waldo Casino, halted its operations in late October.

Good Morning. Try so hard and get so far. But in the end, the government matters. Macau’s gaming operators have been saddled with the necessity to develop other non-gaming outlets. Yet, amongst that strong push (and investment), local authorities don’t appear content with their gaming results. While GGR continues to show steady results, it’s unclear exactly how much officials want this sector to grow, and if they’re willing to let it to. Looking to premonitions, Macau’s boss Sam Hou Fai, is hoping for a digital oversight of all things compliance-related, with a push to develop the sector as Macau gaming grows further.

What you need to know

Top official: Macau GGR remains below expectations, is unlikely to meet targets by year-end, sector is vulnerable to external economic conditions.
Macau gov’t to “ensure strict legal compliance” and “improved digitalised management” of gaming sector: Chief Executive.

On the radar

AUSTRAC updates online platform to improve reporting.
Sri Lanka to activate Gambling Regulatory Authority Act on December 1st.
PH Resorts swings to $1.89M net loss in 3Q25 as revenues nearly halve.
Ex-NUSTAR chief Frederick Go steps up as Philippines Finance Chief.
New Coast Hotel Manila taken over by Digiplus in new land-based bid.

AGB Intelligence

MACAU

GGR has not met expectations: Chief Executive

Macau is structured for ongoing growth. And that growth is supported by the local government…to an extent. Following the launch of MSAR’s new casino concessions, the authorities know exactly how much pull they have with the operators, and it appears that the string is getting unravelled. Now, authorities say that expectations are not being met, prompting questions over how the current framework is succeeding.

Industry Updates

GLI strengthens global cybersecurity leadership with Bulletproof integration.
Brightstar Lottery secures a 9-year deal to continue operations in Italy Lotto.
BetBlocker crosses 250k users, reinforcing commitment to safer gambling.

Corporate Spotlight

90-Day Playbook for Winning Asia’s Gaming Market | GR8 Tech

Every operator can launch, but few can lead. In Asia, leadership is won in the 90 days after go-live, when payments feel effortless, content resonates locally, and every touchpoint builds trust.

INTELLIGENCE | ASEAN | CAREERS

“This move marks a defining step toward DigiPlus’ long-term goal to create the most innovative and enjoyable experiences through an entertainment ecosystem, powered by cutting-edge technology and localized products for different cultures,” DigiPlus Chairman Eusebio Tanco said in a financial dispatch.

The deal, which will combine IEC’s hospitality and gaming expertise with DigiPlus’ digital entertainment platforms such as BingoPlus, ArenaPlus, and GameZone, remains subject to approval by IEC shareholders, Hong Kong regulators, and the Philippine Competition Commission.

The government said it would ensure the “healthy and orderly development” of the gaming sector through strict legal compliance and improved digitalezed industry management. Preparations will be finalized for the end of the transition period for satellite casinos, with the labor rights of its workers to be guaranteed.

Crucially, the government will demand that concessionaires accelerate non-gaming investment projects, with a focus on initiatives that enhance Macau’s global competitiveness and support key industries in both Macau and Hengqin.

To ensure compliance, the government will set effectiveness indicators for non-gaming investment and periodically review overall contract adherence.

Macau international visitors in 2025 — _{International arrivals in 2025}

Macau will launch a campaign to draw visitors from beyond mainland China, actively tapping international tourist markets. The focus will be placed on Northeast Asia, Southeast Asia, South Asia, and South America.

To support this drive, Macau plans to establish economic, commercial, tourism, and cultural representations in Southeast and Northeast Asian countries. Connectivity will be boosted by expanding flight networks at the Macau International Airport and attracting tourists from regions without direct connections via neighboring hubs, air-ticket discounts, and cross-border transport incentives.

Furthermore, the city will intensify promotion, particularly targeting young people through major international events and digital influencers to build Macau’s image as an “international influencer hub.”

The government will also strengthen cross-sector integration under the “Tourism+” concept, leveraging support from Hengqin and the Guangdong-Hong Kong-Macao Greater Bay Area to expand multi-destination tourism products.

The executive explained that gaming revenues from last November to this March had all fallen short of expectations. “The gaming sector is highly sensitive to changes in the broader environment,” he said, noting that both domestic and international factors directly affect the city’s flagship industry.

Hou Fai added that after April this year, the economic climate at home and abroad began to stabilize, helping tourism recover. Visitor arrivals in the first three quarters rose 14.5 percent year-on-year to more than 29 million, with international tourists contributing to the growth.

He pointed to Hong Kong and mainland China’s stock markets, which have reached their highest levels in seven to eight years, creating a “wealth effect” that has boosted the number of premium-mass patrons. But he cautioned that the upward trend may not continue next year.

“The projections for the second half of this year and next year will be announced by the Secretary for Economy and Finance,” Hou Fai said, stressing that the government must remain cautious as the current environment is shifting rapidly and economic uncertainties are growing.

Macau’s casino industry, the city’s flagship sector, has faced fluctuating fortunes in 2025. Hou Fai noted that after April, the stabilization of the international economy briefly lifted tourism and gaming revenues, but uncertainty has returned.

The city relies heavily on tourism from mainland China and Hong Kong, and its recovery from pandemic-era lows has been uneven, with officials balancing optimism over regional growth against concerns about global economic headwinds.

The city is on track to attract between 38 million and 39 million visitors in 2025, a number on par with pre-pandemic times, but that has not translated into similar gaming revenue.

Macau October GGR tops $3B, breaking record since pandemic

For the first ten months of 2025, Macau’s cumulative GGR stood at MOP205.43 billion ($25.64 billion), representing an 8 percent increase year-on-year. However, the figure remains 16.7 percent below the same period in 2019, when GGR totaled MOP246.74 billion ($30.8 billion).

In June, the Macau government reduced its 2025 GGR forecast by around 5 percent, to MOP228 billion ($28.4 million), from a previous projection of MOP240 billion (29.9 billion).

With reports suggesting weaker GGR this year, Sam Hou Fai stressed the unpredictability of external factors such as global tourism flows.

“This year many people say ASEAN economies have reached a new height, with Hong Kong’s stock market also growing a lot. But we can’t guarantee it will be so next year,” he cautioned.

Go replaces Ralph Recto, who served as Finance Secretary before being reassigned as Executive Secretary in the same shift. Recto’s move follows the resignations of Executive Secretary Lucas Bersamin and Budget Secretary Amenah Pangandaman, whose departments were cited in allegations involving multibillion-peso flood control projects.

Go, 50, a member of the Gokongwei family’s business group via JG Summit Holdings, brings extensive private-sector experience to his new post. From 2018 to 2024 he served as president and CEO of Universal Hotels and Resorts, where he led the development of NUSTAR Resort and Casino—a 9.7-hectare integrated resort that opened in 2022 and which has since become a key tourism anchor in Cebu.

The project, a joint venture with the Cebu City government, includes a large casino with 250 gaming tables and 1,500 electronic gaming machines, three luxury hotels, a convention center, and multiple high-end dining outlets. Under Go’s leadership, NUSTAR positioned Cebu as a leading gaming and entertainment hub outside Metro Manila, drawing international visitors and contributing to local tourism revenues.

Before NUSTAR, Go held senior roles at Robinsons Land Corporation, where he helped expand its portfolio to more than 50 malls, 28 hotels, and various mixed-use developments. His broader corporate background spans retail, media, real estate, banking, and aviation, with board positions in over 100 companies.

In December 2023, he was appointed special assistant to the president for investment and economic affairs and chaired the Economic Development Group, coordinating efforts across key agencies such as the Departments of Finance and Trade and Industry to strengthen investment inflows and investor confidence.

Go assumes the finance portfolio at a time of economic headwinds, including a 4.7 percent growth outlook for 2025, ongoing typhoon-related recovery, and market uncertainty stemming from the corruption probe. He pledged to take on the role with “a deep sense of responsibility,” emphasizing fiscal stability, sustainable expansion, and broad-based prosperity.

Analysts say his business background may help advance public-private partnerships, tax reforms, and debt management as the government aims for 6 to 7 percent growth in 2026.

In August, Melco fully opened the $1.2 billion City of Dreams Sri Lanka, the country’s largest private investment and the company’s first project in South Asia. Industry experts previously told AGB that Sri Lanka’s ambition to position itself as “India’s Macau” hinges on consistent regulation and effective governance, making the new Authority a foundational element for future development.

The Gambling Regulatory Authority is empowered to issue legally enforceable social responsibility codes, broadening its reach to both land-based and remote gaming activities. Authorities say this consolidated approach is aimed at improving transparency, boosting investor confidence, and supporting the long-term stability of the sector.

PH Resorts swings to $1.89M net loss in 3Q25 as revenues nearly halve

Philippines

Viviana Chan

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November 19, 2025

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PH Resorts swings to $1.89M net loss in 3Q25 as revenues nearly halve

Embattled PH Resorts Group Holdings recorded a net loss of PHP107.74 million ($1.89 million) in the third quarter of 2025, reversing from a net income of PHP101.34 million ($1.78 million) in the same period last year, as revenues and sales declined sharply.

The latest unaudited results were disclosed in the company’s quarterly filing on Monday.

The company’s revenues fell to PHP4.73 million ($83,000) in 3Q25, down 47.6 percent from PHP9.03 million ($158,000) a year ago. Sales dropped to PHP2.71 million ($47,500), compared with PHP4.31 million ($75,600) in 3Q24. The weaker performance was driven largely by lower room and food-and-beverage income at its Donatela Resort in Bohol, the group’s only operating property.

With operating expenses reaching PHP45.92 million ($805,000), the Philippines-based hospitality and gaming company posted an operating loss of PHP44.28 million ($777,000), slightly narrower than last year’s PHP54.37 million ($953,000). The company’s bottom line, however, was significantly affected by non-operating items, including foreign exchange losses and the absence of last year’s one-off income from nonrefundable transaction payments.

The third-quarter loss underscores the company’s continued financial strain as it works through the impact of the failed sale-and-leaseback repurchase of its Mactan casino development, the Emerald Bay Resort, which earlier triggered major asset derecognition and substantial write-downs.

For the first nine months of 2025, PH Resorts reported a net loss of PHP6.85 billion ($120.2 million), compared with PHP392.95 million ($6.9 million) a year earlier.

Revenues for the nine-month period also dropped to PHP22.15 million ($389,000), from PHP28.98 million ($508,000), while sales slipped to PHP12.49 million ($219,000), compared with PHP17.36 million ($305,000) in 2024.

The company continues to face liquidity pressures, with management citing ongoing talks with lenders, strategic investors, and its parent firm Udenna Corp. to support financing requirements and address capital deficiencies.

Continent 8 Technologies has announced the promotion of David Brace to its executive leadership team. In his new role, Brace will serve as practice lead for AWS solutions, spearheading the company’s continued expansion and innovation within the Amazon Web Services (AWS) ecosystem.

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Macau authorities estimate 2026 will end with a total of MOP92.7 billion ($11.6 billion) in taxes collected from public concessions, the majority of which is represented by gaming taxes.

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Melco Resorts will shut down another slot machine parlor, the Mocha Grand Dragon, at 23:59 on November 24th, in line with Macau SAR regulations.

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What you need to know

On the radar

MACAU

Industry Updates

Corporate Spotlight

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DigiPlus Interactive, the Philippines’ top online gaming provider, announced that it will acquire a majority stake in International Entertainment Corporation (IEC), the Hong Kong-listed parent of New Coast Hotel Manila, through a HK$1.6 billion ($205 million) convertible notes subscription.

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Macau’s Chief Executive Sam Hou Fai delivered an optimistic assessment of the city’s economic outlook while unveiling a focused set of policies for 2025, aimed at accelerating the pivot toward economic diversification and aggressive global tourism promotion.

Further focus beyond

Gaming sector under strict scrutiny

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Macau’s top official Sam Hou Fai warned that gross gaming revenue (GGR) remains below expectations and is unlikely to meet targets by the end of the year, citing the sector’s vulnerability to external economic conditions.

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Frederick Go, former president and chief executive officer of Universal Hotels and Resorts Inc., the operator of NUSTAR Resort Cebu, has been appointed Secretary of the Philippine Department of Finance, effective November 17th.

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Sri Lanka’s Gambling Regulatory Authority Act, No. 17 of 2025, will officially come into force on December 1st, following a gazette notification issued by President Anura Kumara Dissanayake.

Embattled PH Resorts Group Holdings recorded a net loss of PHP107.74 million ($1.89 million) in the third quarter of 2025, reversing from a net income of PHP101.34 million ($1.78 million) in the same period last year, as revenues and sales declined sharply.

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