CDNetworks, the APAC-leading network to deliver edge-as-a-service, is revolutionizing the iGaming industry with strategic global expansions and advanced solutions.
Key developments include a 10 Tbps capacity upgrade for South and Southeast Asia (SSEA), the launch of an iGaming Solution on the upgraded Flood Shield 2.0 platform, and the introduction of the China Premium Service (CPS).
Further strengthening its global presence, CDNetworks has expanded in Latin America and the Middle East. The company has established numerous Points of Presence (PoPs) and local scrubbing centers, boosting network availability and security in these regions.
The 10 Tbps capacity upgrade significantly enhances network performance across SSEA, supported by 10 local scrubbing centers and partnerships with over 80 ISPs. This expansion ensures a robust and high-performing content delivery network, providing businesses and consumers with an elevated digital experience.
CDNetworks’ new iGaming Solution leverages Flood Shield 2.0, offering comprehensive DDoS protection and advanced security features tailored for the iGaming industry. With 20 global DDoS scrubbing centers and 15 Tbps of scrubbing capacity, it ensures platform stability and business continuity.
The China Premium Service (CPS) addresses regulatory hurdles and connectivity issues, providing fast, seamless connectivity for users in mainland China. With ultra-low latency, high availability, and 24/7 support, CPS empowers iGaming platforms to deliver smooth and immersive gaming experiences.
CDNetworks’ strategic initiatives set a new standard for iGaming platforms, addressing security, performance, and connectivity challenges. This commitment to driving digital transformation solidifies CDNetworks’ role as a trusted partner in the global digital landscape.
As the APAC-leading network with over 2,800 global Points of Presence and more than 20 years of technology experience, CDNetworks embraces the new era of Edge and takes it to the next level by using the Edge as a service to deliver the fastest and most secure digital experiences to end users.
Our diverse products and services include web performance, media delivery, cloud security, zero trust security, and colocation services – all of which are uniquely designed to spur business innovation. To learn more, visit cdnetworks.com and follow us on LinkedIn.
Zitro, a global leader in the gaming industry, is proud to announce the recertification of its ISO 14064-1 Standard Greenhouse Gas (GHG) Emissions Management System.
This prestigious certification, which Zitro has held since 2021, has now been renewed through 2027, affirming the company’s ongoing commitment to environmental sustainability and responsible carbon management.
The ISO 14064-1 standard is an international standard that specifies the principles and requirements for quantifying and reporting greenhouse gas (GHG) emissions and removals. Zitro’s rigorous adherence to these principles demonstrates its dedication to accurately measuring and reducing its carbon footprint.
Zitro has implemented measures to reduce its GHG emissions, optimize resource use, and promote sustainability in its operations to achieve this renewal. Additionally, Zitro is committed to fostering a culture of environmental awareness among its employees and partners. In February 2024, a recertification audit confirmed Zitro’s compliance with regulations and effective management of GHG emissions.
The recertification was officially granted on March 1st, 2024. This annual maintenance and recertification audit process ensures that Zitro’s environmental management systems effectively meet the emission reduction targets.
Ahead of a summer of sport, including the Olympic & Paralympic Games, X and Genius Sports Limited have announced the launch of the Trend Genius product, leveraging real-time conversations to accelerate ad attention in moments that matter.
The new technology, built by Genius Sports and powered by X’s Ads and Trend APIs, allows advertisers to align with the real-time conversations happening on the X platform across categories. When a specified topic organically reaches a set conversation velocity, pre-programmed creative will run to reach audiences when they’re most engaged.
When conversation naturally quiets, campaigns are automatically paused until the topic accelerates again. As the exclusive data distributor for the NFL, NCAA, and the Premier League, Genius Sports relied on its heritage of building data-driven products to engineer real-time algorithms needed to start and stop ad spend across the X platform.
“With our long history of powering sports data, we understand that seconds matter,” said Josh Linforth, CRO at Genius Sports. “We wanted to help brands make the most of key moments, by ramping up campaigns when conversation across X was most positive and influential. We’re thrilled to drive this product forward during such an exciting time in the sports calendar.”
“We’ve seen record engagement rates with this product, showcasing how X users continue to create culture in real-time,” said Monique Pintarelli, Head of Sales, Americas at X. “As live events unfold on X, the Trend Genius product helps brands capture the unpredictable and dynamic trends that shape our world in real-time. We’re excited to debut this product in partnership with Genius Sports, and help brands reach our unparalleled and passionate audience.”
Macau’s Public Prosecutions Office has indicted 59 individuals for criminal association and illegal gambling following a major online sports betting bust.
This operation, involving coordinated efforts from authorities in Macau, Hong Kong, and mainland China, uncovered a large-scale illicit betting ring.
According to the Public Prosecutions Office, the defendants allegedly profited from a clandestine betting operation targeting football and basketball games.
The websites for these bets were hosted overseas, though their specific locations were not disclosed. The illegal operation reportedly handled bets totaling MOP1.08 billion ($134.2 million) since 2016, including MOP72 million weekly during the recent Euro 2024 football tournament.
Nearly MOP8.6 million ($1.1 million) in cash was seized during the investigation.
Currently, two of the 59 indicted individuals remain in pre-trial detention, while the remaining 57 have been released on bail and are prohibited from leaving the city.
The case also involves the arrest of 93 individuals in Guangdong, Hong Kong, and Macau.
South Korea’s Kangwon Land reported gaming sales of KRW305.4 billion ($220 million) for the second quarter of this year, marking a 3.4 percent decrease from 1Q24, but up 3.8 percent from the same period in 2023.
Kangwon Land operates the only casino in Korea admitting locals, located within the Kangwon Land Resort in South Korea’s Kangwon province.
The company’s sales revenues were down by 8.3 percent to KRW337.7 billion ($224 million) compared to the previous quarter. However, on a year-over-year basis, sales revenues increased by 2.1 percent compared to 2Q23.
According to Friday’s filing, the casino operator also reported a net profit of KRW149.8 billion ($108 million), up 59.5 percent from the previous quarter.
In the non-gaming sales segment, the company’s income recorded a decrease in all subsections, including hotel, condo, ski, and golf.
Hotel sales saw a year-over-year drop of 9.8 percent, with revenues standing at KRW22 billion ($16 million) in 2Q24. The condo and ski businesses also fell by 13.2 percent and 6.4 percent year-over-year, respectively.
In the same business update, there is a segment of slot machine production; however, there has not been any revenue generated since 3Q23.
Universal Entertainment announced plans to issue new notes to raise funds for refinancing its existing notes, which have a principal amount of $760 million and are set to mature in December 2024.
The company’s board of directors has resolved to commence preparations for the issuance of new US dollar-denominated overseas private placement notes, Universal Entertainment stated in a Thursday announcement.
Universal Entertainment is the parent company of the Okada Manila casino resort in the Philippine capital.
The company stated that the purpose of the refinancing is to ‘improve its cash flow structure’ and ‘secure liquidity’ by completing an early redemption of the aggregate outstanding amount of the existing notes.
US-based CBRE Capital Advisors will serve as the sole placement agent for the new notes, the company announced.
‘The details of the terms and conditions of the issuance of the new notes will be announced as soon as they have been determined,’ added Universal Entertainment.
Previously, Fitch Ratings placed Universal Entertainment on ‘rating watch negative’ due to the company’s $760 million notes maturing in December.
Fitch noted that, although Universal Entertainment is in the advanced stages of executing a refinancing plan, legally binding commitments to refinance are not yet in place.
Good Morning. The growth of the iGaming sector cannot be stopped. And the Philippines is leading the way in regulatory and financial incentives for companies to flock in and set up shop. A key panel of executives lay out exactly why the jurisdiction is being so successful, and what is yet to come. Meanwhile, analysts at Fitch’s CreditSights are predictingcontinued rises for the Macau casino scene, leveraged with cautious optimism for the full-year results.
Being a completely unique regulatory environment in Asia, the Philippines offers promising opportunities for operators in the online space. A key group of executives, from Wazdan, Evenbet and Dot Connections, outline exactly what makes the market so attractive and where the trends are heading, aiming to capitalize off continued growth and a healthy framework.
Online gaming fraud is on the rise in the iGaming industry. In Q1 2022, there was an 85% increase in fake account registrations compared to Q4 2021. While players are undoubtedly affected by gaming fraud, iGaming platforms also suffer due to damaged reputations, huge financial losses, and legal consequences.
The Philippines is widely regarded as the most open gaming market within Asia. Its stance towards iGaming has promoted a flourishing industry, with top executives pointing out the key advantages in a unique roundtable session examining how the sector can continue to grow.
Gateway to Asia
Dmitry Starostenkov, CEO, Evenbet Gaming
Dmitry Starostenkov, CEO at Evenbet Gaming, hits the nail on the head when he notes that “The Philippines has become a gateway to the Southeast Asian online market, being the only regulated jurisdiction for iGaming in the region”. This has positioned the country for “enormous undiscovered potential” and the chance to attract “numerous companies and startups that are not yet known to global players.”
Events, such as the ASEAN Gaming Summit and SiGMA Asia have also positioned operators favorably to engage with their clients in open dialogue to promote growth.
“These factors, vast potential and relative closedness, are already enough to create hype around the Philippines iGaming agenda. If we add the economic situation that is slightly better than average in Southeast Asia, fast technological advancement, and mild licensing conditions, we might say that the country is progressively becoming a prominent iGaming hub,” notes the CEO.
Radka Bacheva, Head of Sales and Business Development at Wazdan, furthers the point, lauding the Philippines for “Its open stance towards foreign investment and ongoing efforts to refine gambling regulations and create a stable and secure environment for operators and players.”
Changing regulations
The sector is also benefiting from strong support by the nation’s gaming regulator, PAGCOR, which noted that the eGaming sector is its primary growth focus, even despite some controversy and pushback from key politicians.
A recent highlight for operators was the reduction in taxation rates for iGaming companies, down to just 35 percent of gross gaming revenue (GGR), in a move to compete with regional markets.
Cora Chen, COO, Dot Connections
Speaking of the change, Cora Chen, COO at Dot Connections, notes: “This change is definitely appealing to operators in the grey markets, offering a solution to regulate their business through proper channels. It will undoubtedly create more opportunities for foreign operators by providing a clearer path to enter the market.
One of the biggest challenges in the past was the lack of a proper entry method and the high costs associated with breaking even due to the higher remittance rate. As always with regulations, further changes may still come, but for now the market looks promising and welcoming to non-domicile operators.”
Evenbet’s CEO doubles down on the possibilities, noting that “There are no actual regional competitors. The closest jurisdiction trying to regulate the online gaming industry is India, and the situation in this country is drastic due to the latest GST (VAT analogue) changes that hit painfully the most developed verticals of fantasy sports, card games, and betting.”
“Being the only market legally open for offshore companies to work in, PAGCOR must create beneficial conditions for global players to start operations in the Philippines.”
Dmitry Starostenkov
What are the trends?
Radka Bacheva, Head of Sales and Business Development, Wazdan
Radka Bacheva, Head of Sales and Business Development at Wazdan, indicates why exactly operators are choosing the Philippines as a base, despite the increasing competition as more companies flood in.
“Wazdan’s insight into the evolving trends shaping the Filipino market allows it to focus on thriving areas, particularly the growing demand for innovative online casino games and jackpot slots,” notes Bacheva.
“Wazdan is poised to become a leading force in this dynamic and rapidly growing market by aligning with the Philippines’ key trends and regulatory landscape,” furthers the executive.
Evenbet Gaming’s CEO gives some insight into player trends, amongst the growing environment: “The most intriguing player-centric trend here is the immense interest in local games, often unknown to outsiders. When we spoke to our potential customers in the Philippines and mentioned some of the local card games that are possible to create on our platform, a surge of interest followed immediately.
The local games are sometimes hard to monetize and earn with, but they can work incredibly well for player acquisition.”
But some issues remain, indicates Starostenkov, which could largely be overcome with crypto.
“The next big trend naturally follows regulation issues and payment processing difficulties: the agent and affiliate-based models to work with players are common. Most agents and agent networks are local and often have a physical presence in the market to process the cash flow. Because of that, using cryptocurrencies in iGaming is also a big thing in the Philippines and Asia in general, and I expect crypto gaming to grow here in the next few years.”
Dot Connection’s Cora Chen weighs in, noting that “The increased presence of iGaming events in the region, such as ASEAN Gaming Summit and SiGMA, is appealing to regulated Western content providers looking to showcase their games. In addition to traditional slot games, more niche genres are gaining attention.
“Live casino games have already made a significant impact in the Philippines and with the lower remittance rate, more live dealer providers are likely to enter the market.”
Cora Chen
The executive also indicates a higher appeal for “instant win games”, engaging local punters.
“For promotions, local operators are leading the way in utilizing social media and influencer marketing to attract a new breed of potential players”.
Overall, the Philippines continues to offer a promising iGaming landscape, with further hopes for growth, attractive conditions, and regulatory support.
“The Philippines offers excellent scope in its dynamic market for providers who have invested in due diligence and can deliver the right content that reflects an understanding of the conditions and preferences of the player base.”
CreditSights, a division of the Fitch Group, forecasts that Macau’s gaming industry may experience continued growth in 2024, despite flattening trends.
In its latest Macau gaming outlook, CreditSights notes that Macau has shown a robust post-pandemic recovery since reopening in January 2023. ‘We expect to see additional growth in the region for the remainder of 2024 but anticipate flattening trends as the recovery matures.’
For 2024, the research firm expects Macau’s gross gaming revenue (GGR) to recover to 75-80 percent of 2019 levels, reaching approximately $28 billion at the midpoint, a 24 percent year-over-year increase.
‘While GGR improvements relative to 2019 have moderated, we anticipate incremental growth driven by modest increases in visitations and steady spend per visitor,’ stated CreditSights.
In the first half of 2024, Macau’s casino GGR reached MOP113.8 billion ($14.20 billion), up 41.9 percent from the previous year.
Among the six gaming operators, CreditSights views MGM China as ‘the biggest winner coming out of COVID’. ‘The company has benefited from a significant increase in market share compared to 2019, partly due to a higher table game allotment from the recent concession renewal.’ Margins have also surpassed pre-pandemic levels, contributing to substantial year-over-year EBITDA growth.
Meanwhile, the research firm has lowered its forecasts for Wynn Macau, noting that the yield gap on Wynn Macau bonds relative to MGM China has narrowed compared to pre-pandemic levels, despite Wynn Macau having weaker market share and a longer path to leverage recovery.
Studio City gains momentum after Phase 2 opening
In its latest observation, CreditSights notes that the recovery at Melco’s Studio City property has gained momentum over the past several quarters, following the rollout of Studio City Phase 2. This momentum is expected to continue through the remainder of 2024, supporting stronger EBITDA growth compared to other Melco Resorts Finance properties.
Conversely, the Melco Resorts Finance properties have experienced one of the slower recoveries in Macau, attributed to lower market share and margins.
While CreditSights anticipates incremental growth at the Melco Resorts Finance properties for the rest of 2024, it believes that a more prolonged EBITDA/leverage recovery will continue to impact yields relative to other operators in Macau.
Opposition to Philippine Offshore Gaming Operators (POGOs) is intensifying, with business associations, economic think tanks, and political groups now advocating for a ban.
Critics argue that the detrimental effects on society outweigh the purported economic benefits, particularly targeting Chinese-focused POGOs.
According to a report from Philstar, several business groups expressed strong support for a complete POGO ban, citing their alleged involvement in illegal activities within the country.
In a joint statement, the Makati Business Club, Alyansa Agrikultura, Financial Executives Institute of the Philippines, Foundation for Economic Freedom, Institute of Corporate Directors, Justice Reform Initiative, Management Association of the Philippines, and the UP School of Economics Alumni Association endorsed the recommendation of Department of Finance Secretary Ralph Recto and National Economic and Development Authority Secretary Arsenio Balisacan for a total prohibition on POGOs.
These groups highlighted that POGO investments contributed minimally to the Philippine economy, accounting for just 0.2 percent of gross domestic product (GDP) last year, based on NEDA data.
They also pointed to significant social costs, citing recent hearings linking POGOs to crimes such as human trafficking, kidnapping, and money laundering. Philippine National Police data reportedly showed that 55 percent of kidnapping cases in 2022 were POGO-related.
Balisacan emphasized the government’s need to prioritize creating high-quality jobs over gambling-related employment, while Recto confirmed that a recommendation for a complete POGO ban had been forwarded to President Marcos.
Earlier this week, advocacy groups 1Sambayan, EveryWoman, Women2022, and Intercessors of the Philippines issued a three-page open letter urging President Ferdinand Marcos Jr. to revoke licenses for POGOs catering to the mainland Chinese market.
Meanwhile, Alejandro Tengco, chairman and chief executive of the Philippine Amusement and Gaming Corp (PAGCOR), expressed opposition to legislative bills seeking to ban all forms of online gambling in the country during a Tuesday hearing at the Senate Committee on Ways and Means.
Tengco emphasized the importance of stringent regulation in the online gaming sector, arguing that effective regulation not only enhances tax collection for the government but also curbs the rise of illicit gambling activities.
Instead of banning, Tengco is pushing for illegal operators to become compliant, register under PAGCOR, and pay their due taxes. This, he estimates, could add an additional PHP200 billion ($3.43 billion) to PHP250 billion ($4.29 billion) in government revenues.
