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Explore key regulatory trends at SBC Summit Malta 2025. Join top experts for vital insights on Europe's evolving iGaming compliance and market strategies. As Europe’s regulatory landscape continues to evolve, SBC Summit Malta 2025 will equip delegates with the latest market insights and regulatory strategies through the dedicated ‘ Europe: Regulation & Compliance ’ track. Taking place on Wednesday, 11th June, at the InterContinental Hotel in St. Julian’s, the regulatory-focused track will feature six distinct discussions, delivering expert-led insights into the challenges and opportunities shaping regulatory strategies across key European jurisdictions.  Rasmus Sojmark , Founder and CEO of SBC, said: “Europe is home to a diverse array of unique markets, each featuring distinct regulatory frameworks. For those operating in this diverse landscape, staying informed on the latest regulatory developments is essential for success. “That’s why we’ve introduced a dedicated track focused entirely on regulation—essential for anyone looking to expand into new markets, stay ahead of compliance trends, and gain a deeper understanding of how legal and regulatory frameworks are evolving across the region. It’s designed to give European stakeholders the clarity and foresight they need to thrive in an increasingly complex environment." Delegates can anticipate discussions encompassing key European markets such as Italy, Germany, and the UK, delve into jurisdictional challenges in Malta and Curaçao, and examine the damaging impact of black markets.  Industry professionals will gain valuable regional insights through a series of panels offering in-depth analysis of key European markets. The panel ‘Italy’s New Gambling Licence Regime’ will delve into Italy’s latest licensing reforms, exploring their potential ramifications on one of Europe’s most successful markets.  The session ‘ UK Regulation: Setting the Standard or Stifling the Sector?’ will assess whether recent regulatory changes are promoting safer gambling or inadvertently driving players towards unlicensed operators. Meanwhile, ‘Germany’s Gambling Market Faces Channelisation Challenges Amid Regulatory Pressures’ will tackle concerns over the growth of the country’s black market in response to tightening regulations. In addition, the event will feature two 20-minute presentations: one offering a broader overview of the Nordic region and another focusing specifically on Finland. The track will also provide a comprehensive breakdown of two key licensing jurisdictions evolving their regulatory frameworks. The session ‘ Malta Gaming Authority 2025/2026: Building a Sustainable Gaming Future’ will examine Malta’s push to strengthen compliance, AML measures, safer gambling practices, and player protection—while also addressing the impact of Bill No. 55. Meanwhile, the session ‘Curaçao’s New LOK Licensing Framework: Six Months In, What’s Next?,’  will be an open Ask Me Anything-style session and explore how operators are adapting to Curaçao’s new framework, with a focus on cryptocurrency, responsible gambling, and building long-term regulatory credibility. Offering a global perspective on how evolving regulatory frameworks are shaping markets and influencing operator strategies is the session, ‘Black, Grey, and New Regulated Markets: Navigating the Shifting Regulatory Landscape .’ Panellists will explore how companies are adapting to ongoing regulatory changes in the Netherlands, Philippines, Brazil, New Zealand, and Finland, while also addressing the risks posed by regulatory uncertainty. The discussion will also cover the implications of the UKGC’s increased operator levy and its potential impact on market dynamics and responsible gambling efforts. Speakers across the sessions include Aideen Shortt (Marketing and PR Advisor, Curacao Gaming Authority ), Alexandre Tomic (Founder, Alea ), Antti Koivula (Legal Advisor, Legal Gaming Attorneys at Law ), Christopher Coyne (CEO, 888AFRICA ), Christian Heins (Director iGaming, Tipico ), Ian Perrygrove (Chief Risk Officer, Kwiff ), Joseph Attard (MInternational Compliance Director, Entain ), Sam Brown (CEO , Rootz ), Olena Demchenko (Head of AML, Kindred ), Reuben Portanier (Senior Advisory Partner, GTG ). Secure your spot at SBC Summit Malta with our discounted ‘ Group Pass ’. For groups of three or more, you can gain access to three days of networking, exhibition, and conference content for the price of €400 (a discount of €200 off a standard ticket). Additionally, you can purchase our ‘ Expo+ Pass ’ for €150. This pass grants you access to the conference and exhibition only. Operators and affiliates can apply for complimentary passes. Read related article: SBC Summit Malta Expands Agenda for Betting & Gaming

Habanero’s Love and Riches: Eldorado takes players on a thrilling journey to the City of Gold with Expanding Wilds, big wins, and up to 30 Free Games! Premium slots and table games provider Habanero has journeyed to the legendary City of Gold in latest launch Love and Riches: Eldorado. Set between waterfalls in a glorious tropical valley, the 5x3 slot combines classic gameplay with Expanding Wilds to deliver a maximum win of 2,525x the total bet. Landing five of the top-paying symbols on a single line delivers wins of up to 2,500x, while Scatter symbols pay anywhere on the reels, unlocking rewards of up to 500x, creating epic win potential with every spin. The golden path to unknown treasures begins with the Free Games feature, where players can trigger up to 30 spins by landing five Scatter symbols. Expanding Wilds lock into place across all Free Game rounds, with low-paying symbols upgrading to deliver even bigger wins in the high volatility slot. Love and Riches: Eldorado is the latest addition to Habanero’s high-energy slot portfolio, following recent successful launches Hyper Hues and Super Fruit Blast. Toni Karapetrov, Head of Corporate Communications at Habanero, said : “With Love and Riches: Eldorado , we wanted to offer players a bold and immersive slot packed with engaging features and an interesting narrative. “From the beautiful design to the Expanding Wilds and symbol upgrades, something exciting is revealed behind every spin, and we cannot wait for players to experience the treasure hunt.” Read related article: Affiliate Marketing in Asia’s iGaming Scene | Grow Fast

Kiron Interactive appoints Patrick Eriksen as Head of Marketing to enhance brand messaging and expand its presence in North and Latin America, focusing on virtual sports. Virtual sports and Casino content provider to leverage out-of-industry experience to fine-tune its messaging and grow its brand into new markets. Kiron Interactive, the award-winning provider of virtual sports and Next Gen Casino content, has appointed Patrick Eriksen as Head of Marketing. Eriksen joins Kiron from Cloudsmiths, the provider of expert AI, data, cloud and CRM services. While gaming is a new industry for Eriksen, he is deeply experienced in enterprise data and AI and understands what goes into building cutting-edge technologies and thrilling games. As Head of Marketing at Kiron, he will be responsible for providing a fresh perspective on the provider’s core messaging and whether it’s telling the right story in the right way to the right audience. He will focus mostly on Kiron’s suite of virtual sports and numbers games as well as its flagship crash game, Rodeo. Patrick will also be instrumental in building the provider’s presence in North America and Latin America. Steven Spartinos, Founder and Co-CEO at Kiron Interactive , said: “Patrick is a gifted storyteller who also understands data, AI and cutting-edge technology and how this is used to deliver thrilling consumer experiences. “His appointment presents an opportunity for a totally fresh perspective on the Kiron brand, including our core messaging and how we are communicating to customers and the wider industry. Patrick Eriksen, Head of Marketing at Kiron Interactive , added: “I might be new to gaming, but I’m not new to storytelling. I’ve worked long enough to know that buzzwords come and go but clear ideas, good design and honest messaging stick around. “As Head of Marketing, my role is primarily strategic with a focus on the big picture, but I strongly believe a brand is built in the details. “Every touchpoint is a reflection of what we do elsewhere and if we value these interactions, our customers are more likely to value the product. So, while I lead the global go-to marketing strategy, I also care about getting the basics right.” Read related article: Kiron Interactive Returns to GAT Expo Cartagena 2025

A Political Gamble: As Thailand debates legalizing casinos, tensions grow within the ruling coalition, casting doubt on this key economic initiative. Thailand's proposal to legalize casinos as part of integrated entertainment complexes has sparked intense political debate. While the government promotes it as a path to economic growth, the initiative has revealed deep divisions within the ruling coalition, especially between the Pheu Thai and Bhumjaithai parties. The bill, approved by the Cabinet on March 27, aims to diversify Thailand's economy by attracting tourism and investment. Proponents project annual revenues between 119 and 283 billion baht, with casinos comprising only 10% of the entertainment complexes. The facilities would also include hotels, convention centers, and amusement parks. However, the bill's progress has been stalled. Initially scheduled for a parliamentary reading on April 9, it faced resistance and was postponed to the next session. Prime Minister Paetongtarn Shinawatra emphasized the need for public consultation and transparent communication regarding the bill's objectives. The Bhumjaithai Party, a key coalition partner, has expressed reservations. Party secretary-general Chaichanok Chidchob publicly opposed the bill, citing ethical concerns. This stance places Bhumjaithai in a precarious position: supporting the bill could alienate their conservative base, while opposing it might strain the coalition. Political analyst Thanaporn Sriyakul notes that regardless of Bhumjaithai's decision, the party faces potential setbacks. If they oppose the bill, they risk losing influence within the coalition. If they support it, they may face criticism from their constituents. Public opinion is divided. A recent Nida Poll indicates that nearly half of respondents believe the bill would not pass without the casino component. Concerns about gambling addiction and social issues persist, despite the government's assurances of strict regulations and limited casino space. The bill's fate remains uncertain. The next parliamentary session will be crucial in determining whether Thailand proceeds with this ambitious plan or reconsiders its approach to economic diversification. Read related article: Political Gambling Revives in U.S. with Trump, Harris Bets

Swintt releases Egypt King Pearl Upgrade, a thrilling slot with jackpot wins, upgraded Pearl Respins, and ancient riches waiting to be uncovered. Swintt release Egypt King Pearl Upgrade , the latest title in their popular Ancient Egypt-themed series. Having already combed the sands of Egypt for long-forgotten riches in Egypt King and Egypt King Obelisk Quest, the sought-after software provider is once again journeying to the land of the pharaohs with this hot new entry. Set in front of a torch-lit temple adorned with hieroglyphs, Egypt King Pearl Upgrade is a five-reel, five-payline slot that beckons players to enter and discover the treasures that lie beneath. Featuring explorers, sarcophagi, statues of Anubis and eyes of Horus as its unique symbols, the slot continues the theme of the previous games while adding a new twist to its main bonus round. Essentially a super-charged version of Swintt’s classic Pearl Respin feature, the Pearl Upgrade bonus is triggered whenever three or more scatter symbols appear anywhere in view. When this happens, players will be granted three free Respins on a new set of reels that feature pearls worth varying prize amounts and will have to grab as many as they can before the counter reaches zero. Whenever a new pearl appears, the counter will reset, with this process continuing until no new pearls are present or the reels are completely filled, and the Mega Jackpot is awarded. Unlike in previous iterations of the feature, however, each pearl can potentially upgrade the value of currently held symbols horizontally, vertically or both for progressively more rewarding prizes. As a final incentive, Egypt King Pearl Upgrade also boasts three local jackpots in addition to the aforementioned Mega Jackpot – namely the Minor, Major and Maxi jackpots. To trigger these bonus prizes, players simply have to land a pearl symbol displaying the corresponding jackpot name during their Respins and the full amount will be added to their win once the feature is over. All told, this makes Egypt King Pearl Upgrade a highly volatile slot with a top base game payout of 2,500x and even bigger rewards up for grabs in its bonus round – and if players can’t wait to trigger the Respins manually, they can also start them instantly using the “Buy Feature Games” button. David Mann, Chief Executive Officer at Swintt , said: “Ancient Egypt has proved to be a rich well of inspiration for our popular slot series and we’re constantly looking for new ways to build on this engaging theme to make each title even more exciting. In Egypt King Pearl Upgrade, we’ve done exactly that by giving our popular Pearl Respin feature a thrilling new dimension, and we’re sure the huge prizes on offer will make it a popular entry with fans of the series and newcomers alike.” Read related article: Swintt unleashes the power of the Parthenon in Olympus Wilds

Gaming Corps unleashes PIGGY SMASH 2, a thrilling evolution of Smash4Cash™ packed with wild features, massive wins, and nonstop ball-smashing action. Gaming Corps unleashes PIGGY SMASH 2, a revolutionary game from the publicly-listed Swedish developer, taking the original Smash4Cash™ mechanic to new heights. Get ready to break your path to even greater riches—this latest launch from Gaming Corps brings a bigger vault, higher stakes, and more thrilling rewards than ever before. PIGGY SMASH 2 boasts a new-age game structure with one ball at the centre of the game window, and two rows on either side consisting of three balls in each row. Players bet to attempt to smash the current ball and winnings that are derived from smashing balls award giveaways and can lead to exciting features that push the gameplay to unimaginable levels of excitement. The game includes a variety of innovations that make it stand out among other casino games. The Multiplier Feature is utilized to trigger a multiplier following a ball break, and then this multiplier is multiplied with the payout of the next ball. This next ball is automatically made active and guaranteed to be smashed, adding an extra layer of anticipation to each spin. The Rampage Feature takes excitement to another level by entering RAMPAGE MODE after smashing a ball. During this mode, automatic ball-smashing attempts are triggered, guaranteeing the smashing of two or more balls in a single wager. Taking this concept further, the Multiplier Rampage Feature combines the Multiplier and Rampage features, multiplying prizes for all smashed balls by the initially awarded multiplier. Perhaps the most thrilling aspect of PIGGY SMASH 2 is the Instant-Win Feature, through which players can win up to big. Activated at random after a ball smash, this feature allows for multiple prize levels ranging from 10x to as much as 5000x stake. Connor Blinman, Head of Games at Gaming Corps said: “PIGGY SMASH 2 is a leap forward in interactive gaming. We’ve adapted our highly acclaimed Smash4Cash™ mechanic and taken it to the next level, providing players with an even more revolutionary experience. This game is more than an evolution, it’s a revolution of what a game can be. Every wager is a new journey, every feature is a revolution. From improved graphics to real-time, interactive touchpoints, everything has been choreographed to make sure players aren’t just playing the experience, they’re living it. Our talented team went all out to take creativity to the next level and we couldn’t be happier with the final product. The future of gaming is here.” Created with a global audience in mind, PIGGY SMASH 2 supports 28 languages and is licensed in over 14 jurisdictions. This broad support guarantees players across the globe will have an exciting Smash4Cash™ experience! Read related article: Gaming Corps Unleashes Slot Game ‘Fire and Freedom’

ICONIC21 launches Stellar Fruits 40—classic fruit slot action meets cosmic energy with 40 pay lines and big win potential up to 1,000x! ICONIC21 launches Stellar Fruits 40 , the first title in its flagship Stellar Fruits series. The in-demand iGaming content provider brings classic fruit action blended with modern gameplay in this highly anticipated slot release. The first game in the series is Stellar Fruits 40 and promises classic fruit action combined with cosmic energy for an out-of-this-world player experience.  Stellar Fruits 40 is all about timeless design colliding with bold and modern gameplay, with the slot set across five reels and four rows with 40 paylines active in the base game.  Players need to strap in and hold tight as the gameplay hits fast with plenty of big win potential on the cards with each spin.  Players watch as juicy symbols (think cherries, grapes, watermelons and more) land on the reels alongside stars and those all-important 7s.  The red hot 7 is Wild and fuels epic win combinations by replacing all other symbols except the golden Star scatter.  The golden Star scatter can land anywhere on the reels, and no matter where it lands, it pays big – the max win potential for Stellar Fruits 40 is 1,000x.  Stellar Fruits 40 hits the market on 29 April and will be followed by three other titles in the series – Stellar Fruits, Stellar Fruits 20 and Stellar Fruits 100.  The main difference between each game is the number of pay lines, which vary from 5 all the way up to 100 and impact the max win hit frequency of each title.  Edvardas Sadovskis, CPO at ICONIC21 , said: “The Stellar Fruits series will deliver four iconic classic slot games to our operator partners and their players, starting with Stellar Fruits 40. “This is a slot that combines the nostalgia of a traditional fruit machine with bold and striking design and modern gameplay that ramps up the anticipation with every spin.  “By launching a game series, we can offer our partners a unique run of proven content that players will instantly recognize each time a new title lands in their lobby, driving engagement.  Read related article: ICONIC21 Releases Lucky Hong Bao, a Dragon-Themed Slot

Is Macau's gaming revenue back to normal after Chinese New Year?  JPMorgan's report suggests so, with February GGR projected at MOP18.3-19.4 billion. Macau's gaming revenue after Chinese New Year showed strong performance, with gross gaming revenue (GGR) reaching MOP11.9 billion (approximately US$1.48 billion or PHP82.2 billion) in the first 16 days of February, according to a recent JPMorgan research report. This reflects an average daily GGR of MOP743 million (around US$92.9 million or PHP5.1 billion). However, the report highlights a significant drop in the average daily GGR last week to MOP642 million (approximately US$80.3 million or PHP4.4 billion), down from MOP725 million (approximately US$90.6 million or PHP5 billion) during the Chinese New Year period. This normalization aligns with market expectations, as the festive season typically drives a surge in gaming activity. JPMorgan's current forecast for February's total GGR ranges from MOP18.3 billion to MOP19.4 billion (approximately US$2.29 billion to US$2.42 billion or PHP126.8 billion to PHP134.4 billion). This projection represents a potential year-on-year change of between a 1% decline and a 5% increase. The brokerage firm continues to favor Galaxy Entertainment ( 00027.HK ) as its top pick in the Macau gaming sector. They also maintain Overweight ratings for MGM China ( 02282.HK ), Wynn Macau ( 01128.HK ), and Sands China Ltd ( 01928.HK ). Conversely, JPMorgan has assigned a Neutral rating to SJM Holdings ( 00880.HK ) and an Underweight rating to Melco International Development ( 00200.HK ). Macau's gaming revenue took a hit in January, with gross gaming revenue (GGR) falling 5.6% year-on-year to MOP$18.25 billion (US$2.27 billion). This decline, attributed largely to the timing of the Lunar New Year holiday, missed analyst expectations and raises concerns about the pace of Macau's post-pandemic recovery. While some anticipated a smaller dip due to pre-holiday activity, the industry's performance underscores the ongoing challenges facing Macau's gaming sector, including new regulations and a shift in focus towards mass-market players. Despite the January setback, Macau authorities remain optimistic, citing the city's strong fundamentals and maintaining a full-year GGR forecast of MOP 240 billion (US$29.9 billion). However, analysts are divided on whether this target is attainable given the current economic climate in China and the lingering effects of regulatory changes and restrictions on junket operators. The coming months will be crucial in determining if Macau's gaming industry can rebound and meet its revenue goals. Read related article:   Macau's CNY 2024 Gaming Revenue Fails to Reach 2019 Levels

Thailand plans strict casino entry rules, including a 50M baht (₱80M) financial threshold for locals. Public hearings will help shape the final regulations. Thailand is moving forward with plans to establish casinos, but proposed regulations outline strict entry requirements for Thai nationals. Draft legislation released by the Office of the Council of State details financial criteria and entry fees for locals wishing to gamble in these establishments. The draft regulations stipulate that Thai citizens must have a minimum of 50 million baht (approximately $1.43 million USD or 80.4 million PHP as of January 1, 2025) in fixed deposits held for at least six months to be eligible to enter casinos. In addition, a 5,000 baht (approximately $143 USD or 8,040 PHP) entry fee is proposed. These requirements are designed to regulate access to the casinos and are subject to change following public consultation. While gambling is largely prohibited in Thailand, some forms are permitted, including state-run lotteries, horse racing, and betting on certain sporting events. The proposed casinos represent a potential expansion of the gambling sector. A previous report by Citi estimated a substantial potential market for casino gambling in Thailand, suggesting a large percentage of the adult population could be interested. However, the proposed financial requirements could limit access to a smaller segment of the population. Public hearings on the draft casino legislation are scheduled to take place between February 15th and March 1st. These hearings will provide an opportunity for public feedback on the proposed regulations. The government will then consider this feedback before finalizing the legislation. The impact of the proposed casinos on tourism and the broader economy remains a subject of ongoing discussion. Read related article:   Thailand Seeks Public Input on Casino Bill in Online Hearing

Online public hearing underway for Thailand's Entertainment Complex Bill. The OCS is gathering feedback on the proposed legislation, including the controversial inclusion of casinos. Thailand's Office of Council of State (OCS) has launched an online public hearing for the proposed Entertainment Complex Bill, providing a platform for citizens and stakeholders to voice their opinions and contribute to the legislative process.  "Even though the OCS has amended some points in the bill, it has added some minor technicalities, such as the specification that only 10% of an entertainment venue will be a casino," Atavit Suwanpakdee, chairman of an advisory board to the Industry Minister said.  This comes as the OCS completed its amendment on the bill, which allows casinos within integrated resorts to be built in Thailand. The government argues that this bill will increase revenue. The bill outlines specific regulations regarding the size and operation of these complexes, including stipulations about the proportion of space allocated to casinos. However, some details remain unclear, prompting calls for further clarification and discussion. "Writing the law like this [can be difficult as it can create social problems]," Atavit added.  The hearing, which runs from February 15th to March 1st, allows individuals and organizations to submit feedback on the bill before it progresses further. This online format encourages broad participation and aims to capture diverse perspectives on the potential impacts of the legislation. Participants can submit comments and voice concerns about all aspects of the legislation, including the potential economic and social impacts of entertainment complexes featuring casinos. The OCS will review this feedback and use it to refine the bill before finalization.   Read related article:   Group Seeks 50k Signatures For Thai Casino Referendum

The Philippine Charity Sweepstakes Office (PCSO) aims for Level 3 certification from the World Lottery Association. The Philippine Charity Sweepstakes Office (PCSO) - the government body handling the country’s state lottery services - is eyeing a Level 3 certification from the World Lottery Association (WLA).  WLA is a central hub for the global lottery industry, providing essential services, setting standards, and advocating for responsible and sustainable growth. To secure Level 3 certification, PCSO must establish and implement a Comprehensive Responsible Gaming Program. This level requires a more structured and comprehensive approach to responsible gaming, with a focus on program effectiveness and impact on players. A Level 3 certification signifies that PCSO has a comprehensive responsible gaming program in place. This includes measures to ensure transparency and fairness in their operations, which can increase public trust in PCSO and its games. In a post on his official social media account, PCSO General Manager Melquiades Robles said a level 3 certification means a country has set a budget to allocate for its gaming programs.  “Sa ilalim ng Responsible Gaming Framework ng WLA, ang Level 3 certification ay nangangahulugan na ang isang lottery operator ay dapat nakabuo na ng plano at budget upang maisakatuparan ang kanilang gaming programs,” he said. (Under the WLA's Responsible Gaming Framework, Level 3 certification means that a lottery operator must have already developed a plan and budget to implement their gaming programs.)  “Nitong December 2024 lamang po ay nakamit natin ang Level 2 certification dahil sa ating pagpupursigi na maitaguyod ang responsableng paglalaro sa PCSO.  Kaya naman mas paiigtingin pa natin ang ating pagiging responsableng lotto operator at ang ating misyon na makatulong sa mamayang Pilipino saklaw ng ating corporate social responsibility,” he added.  (Just this December 2024, we achieved Level 2 certification due to our efforts to promote responsible gaming at PCSO. That's why we will further intensify our commitment to being a responsible lotto operator and our mission to help the Filipino people under our corporate social responsibility.) The PCSO statement indicated that stakeholders were encouraged to integrate Responsible Gaming principles into advertising and game development, with discussions encompassing educational campaigns featuring responsible gaming messages and partnerships with PCSO to promote responsible advertising and participation in responsible gaming initiatives.  The PCSO reiterated its dedication to WLA principles and framework, stating its ongoing journey toward enhanced responsible gaming is intended to safeguard players, stakeholders, and the public while maintaining revenues for charitable programs. Read related article:   Hong Kong Bettor Wins Record P1.4B Jackpot with P73 Bet

DigiPlus clarifies its 2025 CAPEX plans, allocating P2.5B-P3B (USD$43M-USD$52M*) for maintenance and Brazil investment, excluding funding for new ventures. DigiPlus Interactive Corp. has clarified its capital expenditure (CAPEX) plans for the year. In a disclosure on the Philippine Stock Exchange, DigiPlus said it was allocating P2.5 billion to P3 billion (US$43M-US$52M*) for maintenance capital expenditures and to initially fund its investments in Brazil. This was in response to a Manila Standard article which said the company, which owns Arena Plus and Bingo Plus, earmarked up to P3 billion to support its expansion plans. Digiplus clarified that this “excludes funding for potential new investments.” This statement clarifies that the previously reported figure of P2.5 billion to P3 billion (USD$43M-USD$52M) is specifically earmarked for two key areas: maintenance CAPEX within the Philippines, ensuring the upkeep and smooth operation of existing services, and funding the initial investment in the Brazil project. The article quoted Celeste Jovenir, Vice President for Investor Relations, saying the amount "covers the initial spending for the Brazil venture, which the company is finalizing in preparation for a fourth-quarter operation." Furthermore, the article noted that Chairman Eusebio Tanco stated the company is "also looking at other markets for expansion overseas." DigiPlus's disclosure emphasizes that the allocated CAPEX excludes funding for any potential new investments beyond the Brazil venture.  This distinction is crucial, as it separates current spending commitments from future expansion possibilities. While the company is clearly interested in growth, as indicated by Tanco's comments, the current CAPEX budget is strictly defined. Any further expansion beyond the Brazil project would necessitate separate funding and would not be drawn from the currently allocated P2.5 billion to P3 billion (USD$43M-USD$52M).  Read related article :   From 20 to 40 Million: DigiPlus Doubles Its User Base