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ELK Studios partnership with SkillOnNet brings top titles to Ontario, with PlayOJO, SlotsMagic, and SpinGenie now offering ELK’s premium games to local players. Global entertainment brand SkillOnNet and innovative Swedish game creator Elk Studios have cemented their longstanding partnership with the launch of ELK’s groundbreaking portfolio in the Ontario market.  ELK Studios is responsible for some of the industry’s most innovative and engaging online casino games. Now, players at SkillOnNet’s Ontario-licensed casinos, PlayOJO, SlotsMagic and SpinGenie, will be able to experience the feature-packed delights of hit titles like Nitropolis, Tinkerbot and Pirot, as well as new release Orbitfall, and the studio’s signature X-iter and CollectR mechanics.  The expansion marks a milestone for ELK Studios as it continues to grow its footprint in regulated markets worldwide. SkillOnNet recently successfully launched the studio’s portfolio in the Spanish and Mexican markets through its Spanish-language brands and expects the studio’s games to make a similarly immediate impact with Ontario players.  Ontario has become a hugely important growth market since the province launched regulated online gaming in 2022. It was worth $2.4 billion in 2024, with $63 billion in wagering, the lion’s share coming from online casinos.    Jani Kontturi, Head of Games   at SkillOnNet said: “ELK Studios is known for its high-quality games that blend unique storytelling and humour with high levels of engagement and playability, which is why we’re delighted to introduce them to Ontario. We believe they will perform successfully, as they have in other markets around the world.” Vaida Cirtautaite, CCO at ELK Studios said: “SkillOnNet has been an invaluable partner in our growth journey, and we are thrilled to expand our collaboration into Ontario. We’re excited to bring our innovative games to a new wave of players in this dynamic market.” Read related article: SkillOnNet Launches SmartSoft’s Next-Gen Casino Games

Swintt’s latest premium release, Toutatis, lets players harness the power of nature to craft magical potions and win up to 2100x in this thrilling slot adventure. Ancient traditions meet exciting gameplay in Toutatis – the new tribal-themed release from hit software provider, Swintt, that sees players enlist the help of a powerful shaman to brew up potent concoctions that could boost their Free Spins winnings to up to 2100x! As the latest title in the provider’s ever-popular Premium line-up, Toutatis is a five-reel, 10-payline game that combines the simple gameplay of a classic land-based slot machine with an exhilarating bonus feature that can be extended up to three times for truly transformative prizes. Boasting a unique apothecary-based line-up of symbols including, herbs, mushrooms and potion bottles, in order to brew up the perfect prize-winning formula, players will first need to land three cauldron scatter symbols to trigger a Free Spins feature where the magic really starts to happen. Once the bonus has been activated, players will be granted an initial 10 Free Spins and will need to look out for special shaman wild symbols. Whenever one of these unique icons appears, it will not only collect the value of any mushroom symbols on the reels and add them to the current prize total but also contribute to a special progress metre that can unlock even greater rewards. After four shaman wilds have been collected, players will receive an additional 10 Free Spins with all winnings now benefiting from a 2x multiplier. If they repeat this feat, a further 10 Free Spins and a 3x multiplier are awarded, with the final stop being 10 more Free Spins and a 10x multiplier! To help their elixir slip down a little easier, whenever a shaman symbol appears and no mushrooms are present, they can spring up from existing symbols to create additional prizes, with this ensuring that every spin has the potential to award big wins up to 2,100x the chosen bet. David Mann, Chief Executive Officer at Swintt,  said: “The SwinttPremium range is known for fusing the accessible gameplay of classic slots with thrilling bonus rounds – and we’ve definitely kept that tradition alive in Toutatis. Boasting an engaging tribal theme and an exciting Free Spins feature where instant wins and huge multipliers can be unlocked whenever a wild appears, we’re sure the game will go on to be a big hit with both traditional slot purists and modern players alike.” Read related article: Swintt unleashes the power of the Parthenon in Olympus Wilds

Swintt Slots expands through a new partnership with multi-award-winning operator OneCasino, bringing top-quality gaming experiences to more players. Swintt, a popular software supplier recognised for its innovative slot games, has announced a partnership with OneCasino. The award-winning casino will incorporate Swintt’s complete range of Elysium Studios, Select, and Premium games into its portfolio. This exciting collaboration brings Swintt’s most innovative titles to OneCasino players, marking a significant milestone for both brands. This strategic partnership follows OneCasino’s recent acquisition by Glitnor Group, Swintt’s parent company. The acquisition aligns with the group’s B2B and B2C goals. “Swintt’s cutting-edge slots, known for their mobile-first designs, perfectly align with our approach and goals”, Mark Schram, CEO of OneCasino says. “Together we reinforce our commitment to provide the best experience” Schram is confident that adding Swintt slots will boost their growing reputation among customers. “We prioritise quality games and don’t just follow trends; our game selections are made to align with our players' desires and standards. By incorporating Swintt's slots into our portfolio, we reinforce our commitment to offering players the best possible gaming experience.” Swintt is known for its fast growth and quality portfolio. Notable additions include Elysium Studios, which focuses on innovative slot gaming with social and video elements. Standout titles like I Hate Fairytales, featuring punk-rock princesses, and the upcoming action-packed adventure, Pirate Pledge Hold & Win. “These games are sure to be big hits with players at OneCasino,” says David Mann, CEO of Swintt. It's a win-win” Mann ensures that the Swintt collection will continue to expand. “With many more spectacular Swintt slots available, this collaboration is a win-win for everyone involved.” OneCasino's reputation as a trusted and innovative platform makes it an ideal partner for the provider. “By leveraging the popularity of this multi-award-winning, MGA-licensed brand, we are extending our reach to an even broader audience, and we are confident that players will enjoy what we have to offer,” Mann emphasises. Read related article: King's Development & ICONIC21 Partner, Promoted by BETBAZAR

Swintt’s new Greek mythology-inspired slot, Parthenon in Olympus Wilds, features Floating Wilds that can elevate players’ winnings with every thrilling spin. Get ready to step into the Athenian Acropolis and take your place alongside the mighty gods and goddesses of Ancient Greece in Olympus Wilds – the brand-new SwinttSelect slot where unique Floating Wilds can set players payouts soaring for sky-high wins. Set against the majestic backdrop of the Parthenon in Olympus Wilds , this five-reel, 20-payline slot features Zeus, Ares, Artemis, Athena, and Poseidon as high-value symbols. Packed with exhilarating bonuses, Parthenon in Olympus Wilds  offers a massive 8,000x jackpot and a Buy Feature button for quick access to the thrilling Free Spins round. In both the Free Spins and the base game, the key to unlocking Olympus Wilds’ most divine payouts comes courtesy of a unique Floating Wilds mechanic. Triggered whenever two or more wild symbols appear during a single spin, these icons will ascend from the reels before coming down again in random positions to create additional paylines as a free re spin is triggered. Should any additional wilds appear during this re spin, this powerful feature will be repeated for even greater potential prizes – and if this happens to occur during the Free Spins, all winnings will also benefit from a progressive multiplier that can boost players’ payouts by a maximum of 10x! As an added gift from the gods, this progressive multiplier is also present during the game’s second feature, which is a Hold & Win bonus similar to those found in other Swintt titles. Activated whenever five or more coin symbols stop in view, players will initially be granted three re spins to collect further prizes, with the counter resetting whenever a new coin symbol appears. Not only that, but for each subsequent coin collected, the progressive multiplier will increase by one, with this being applied to the value of all prizes once the reels have been completely filled or no new coins appear and the player is returned to the base game with their collected winnings. David Mann, Chief Executive Officer at Swintt,  said: “This month, Swintt is inviting players to explore the intriguing world of Greek mythology and claim divine riches worthy of the gods themselves in Olympus Wilds. A medium-high volatility slot with a maximum jackpot of 8,000x, Olympus Wilds introduces a new Floating Wilds mechanic that can turn any spin into a big winner – particularly during Free Spins, where potentially monumental multipliers are also up for grabs!” Related article: Swintt Slots Goes Live at OneCasino for Exciting Gameplay

Gaming Corps partners with 32Red to expand in the UK, bringing its premium Crash, Mine, Slot, and Table games to one of the UK’s top online casino platforms. Gaming Corps partners with 32Red as the publicly-listed Swedish game developer expands its footprint in the UK, teaming up with the leading online casino operator. Founded in 2002, 32Red is a multi-award-winning UK online casino. With a strong reputation for providing a world-class gaming experience, 32Red provides players access to over 3,000 online games, from video poker and slots to classic card games. As part of the agreement, Gaming Corps’ full suite of premium titles—including its popular Crash, Mine, Table and Slot titles and recently released 3 Pigs of Olympus, which has been generating significant buzz for its innovative gameplay and engaging features—will now be available to 32Red’s extensive player base.  This partnership follows Gaming Corps’ recent collaborations with other top-performing brands as it continues to grow its global distribution network. Danielle Calafato, CCO at Gaming Corps,  said: “This partnership with 32Red marks another significant step in our UK expansion. We take great pride in our growing portfolio of premium games, and it's exciting to see them reaching an audience as engaged and passionate as 32Red’s players. We look forward to a successful collaboration that not only strengthens our position in the market but also delivers fresh and exciting content to 32Red’s customers.” Allana Hart, Senior Casino Content Manager at 32Red , said: “At 32Red, we are always looking to provide our players with the best gaming experiences available, and partnering with Gaming Corps allows us to further enhance our offering. Gaming Corps has built a strong reputation for developing exciting and engaging content, and we are delighted to be working together to bring their premium suite of games to our customers. Their diverse portfolio will provide even more variety and entertainment for our players.” Read related article: WA. Platform To Offer Gaming Corps Games Suite To Partners

A recent study highlights how the POGO ban in the Philippines has led to the spread of illegal betting operations to new regions. A recent study conducted by James Porteous, Head of Research for the International Federation of Horseracing Authorities (IFHA) Council on Anti-Illegal Betting and Related Crime, reveals troubling trends that extend far beyond the Philippines. In his report, titled "The Ban on Philippines POGOs and the Consequent Global Expansion of Illegal Betting Hubs," Porteous underscores the alarming consequences of the Philippine government's decision to shut down its Philippine Offshore Gaming Operators (POGOs) industry. Rather than solving the problem of illegal gambling, the ban has simply pushed organized crime syndicates to export their operations to other regions of the world.  Porteous, who also serves as Senior Manager of Due Diligence and Research at The Hong Kong Jockey Club, cautions that illegal betting operations are no longer isolated incidents but part of a broader and more dangerous criminal network. He notes that the illegal gambling industry is often a key pillar of transnational crimes, including human trafficking, cyber fraud, and corruption. “Illegal betting is not a victimless crime,” Porteous writes in the IFHA’s November 2024 Quarterly Bulletin, “but a fundamental component of a much larger criminal web.” A Dangerous Trend: The Global Reach of POGO-Like Operations The Philippines’ crackdown on its POGO industry was intended to dismantle a growing problem of illegal online gambling. However, as Porteous points out, the closure of POGOs has simply driven these criminal operations elsewhere. In his research, he explains that many of the operators have migrated to regions where they have already established infrastructure or connections. Past disruptions, such as in 2016, saw similar illegal betting operations proliferate in countries like Laos, Cambodia, and Myanmar, where minimal regulatory oversight allowed these activities to thrive. These Southeast Asian nations have since become major hubs for cyber-scam operations and illegal betting syndicates, continuing to operate with impunity on a global scale. While some countries within the Association of Southeast Asian Nations (ASEAN) are making efforts to combat these illegal activities, the challenge remains enormous. Corruption, political instability, and weak legal frameworks in many of these regions often hinder effective enforcement. Moreover, the enormous financial incentives that come with illegal betting make it difficult to hold law enforcement accountable.  “The massive profits generated by illegal betting and related crime provide ample ammunition to encourage politicians and law enforcement to look the other way, whatever is said in public statements,” explains Porteous. Despite public statements pledging to tackle these issues, the overwhelming power of criminal networks continues to undermine efforts to curb illegal gambling. The Philippines POGO Ban's Ripple Effect Perhaps the most disturbing aspect of Porteous’ findings is the expanding footprint of these illegal betting operations beyond Southeast Asia. While scrutiny within Asia is tightening, criminal syndicates have adapted by shifting their operations to regions where awareness of such activities remains limited. The report highlights several high-profile international cases that demonstrate the growing scope of the problem. In late 2023, a Taiwanese crime syndicate was discovered operating in Peru, where they had trafficked more than 40 Malaysian nationals. Similarly, in April 2024, authorities in Zambia arrested 77 individuals, including 22 Chinese nationals, linked to illegal gambling networks. More recently, in October 2024, 120 Chinese nationals were arrested in Sri Lanka for involvement in POGO-like operations. These incidents illustrate a troubling pattern of illegal gambling expanding into Europe, the Middle East, Africa, and South America. In particular, the Middle East has emerged as a significant hub for both laundering the proceeds of illegal gambling and hosting such operations. The Humanity Research Consultancy, an NGO that monitors transnational crime, has identified at least seven illegal betting and online fraud operations in Dubai. Additionally, individuals with ties to these illegal networks have been linked to "legitimate" businesses in European countries such as Georgia and Montenegro. These areas have also reported increasing incidences of illegal gambling and human trafficking. The Need for a Global Response The increasing global spread of illegal betting is a call to action for greater international cooperation. While the Philippines’ POGO ban may have disrupted gambling operations in Southeast Asia, the study highlights how quickly organized crime syndicates can adapt and expand into new regions. This evolution of criminal networks demands a coordinated, global response to prevent further damage. Porteous stresses that tackling the issue of illegal betting requires more than just stronger enforcement at the national level. Countries across the globe must collaborate more effectively to address the international dimensions of the problem. This includes not only improving enforcement but also enhancing communication and coordination between different stakeholders, including governments, law enforcement agencies, and international organizations. The spread of POGO-like operations to regions such as the Middle East, Africa, and Europe highlights the urgent need for greater vigilance. While the financial rewards of illegal betting continue to fuel these operations, they also create significant social and economic harm in the regions they affect.  Read related article: Total POGO Ban in the Philippines Takes Effect

Metro Manila's office vacancy rate hit 18.2% by Q3 2024, the highest in 20 years, driven by shifting office space needs & POGO ban, says Cushman & Wakefield. Metro Manila’s office market is facing its highest vacancy rate in two decades, according to the latest report from commercial real estate services firm, Cushman & Wakefield. The firm’s MarketBeat report revealed that by the end of the third quarter of 2024, the average office vacancy rate in Metro Manila had surged to 18.2 percent. This marks the highest vacancy level since the second quarter of 2004, driven by a combination of factors including changes in corporate office space needs and the ongoing influx of new office developments into the market. The vacancy spike comes as businesses adjust their office requirements, reducing space due to shifting work trends and economic pressures. In addition, the market saw the completion of approximately 114,000 square meters of office space in the third quarter, further increasing the overall supply and contributing to higher vacancy levels. Cushman & Wakefield noted that these new office spaces, combined with significant amounts of space being returned by major corporate tenants, have created an environment where vacant spaces are becoming more common. The firm predicts that vacancy rates will remain elevated in the coming months, influenced by both local regulatory changes and broader economic shifts. A key factor in this forecast is the total ban on Philippine Offshore Gaming Operators (POGOs), which had previously occupied a significant portion of office space in Metro Manila. The closure of these businesses has left a considerable number of office spaces unused. Additionally, the recent amendments to the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law, which promotes flexible work arrangements, are expected to contribute to the rising vacancy rate. As more companies adopt remote or hybrid work models, the demand for traditional office spaces may continue to diminish. In terms of rental prices, Metro Manila’s office market is also experiencing downward pressure. The average asking rent for Prime and Grade A office spaces dropped slightly in the third quarter of 2024, marking the fourth consecutive quarter of rent declines. Asking rents for these office categories fell to P1,003 per square meter, down from P1,010 in the previous quarter and from P1,041 in the same quarter of the previous year. This downward trend in rents reflects the broader softness in the office market as vacancy rates climb and demand remains weak. “The Metro Manila office market is exhibiting a slower-than-expected recovery in Q3 (third quarter) 2024,” Tetet Castro, director and head of tenant advisory group at Cushman & Wakefield, was quoted as saying in a report published by the Philippine Star. She attributed this slowdown to the immediate effects of the POGO ban and the amendments to the CREATE law, which have contributed to elevated vacancy rates and declining rents. Castro added that while the office market is facing short-term challenges, there could be potential for a rebound if demand for office spaces stabilizes in the future. The report also highlighted that the increase in vacancy rates has been most pronounced in mature office markets such as Pasay City, Makati City, and Taguig City. These areas, traditionally home to large corporate tenants, have seen notable shifts in occupancy. The high concentration of POGO operators in Pasay City has played a major role in increasing vacancy levels there, as the exit of these businesses left significant amounts of office space vacant. In Taguig and Makati, new office buildings with low pre-commitment levels have added to the oversupply, further pushing up vacancy rates. Claro Cordero, Director and Head of Research, Consulting, and Advisory Services at Cushman & Wakefield, noted that the office vacancy trend is also being influenced by broader economic and geopolitical factors. For example, the U.S. presidential election could introduce uncertainty regarding policies that impact American firms’ outsourcing strategies, potentially reducing demand for office spaces used by business process outsourcing (BPO) companies. Additionally, the rise of artificial intelligence (AI) in sectors like Information Technology and BPO could also limit demand for office space in the long term as automation reduces the need for traditional office setups. Cordero stressed the importance of industry stakeholders adapting to these changes, particularly in the IT-BPM sector. He suggested that developing training programs to upskill workers and equip them with the necessary technical competencies could help sustain demand for office spaces in the future. He also pointed to the growing role of AI as a factor that may reshape the office market in the coming years. Looking beyond the office market, Cushman & Wakefield’s report provided insights into other real estate sectors. In the residential market, the easing of monetary policies has yet to translate into a surge in demand for new housing projects. On the retail front, while a seasonal uptick in spending is expected to boost retail sales in the short term, the medium-term outlook remains cautious. Shifting consumer spending habits, particularly in response to lower living costs, are influencing retail trends. Retail spaces vacated by businesses catering to POGO workers, as well as those in malls yet to adapt to evolving customer preferences, are expected to add to the available stock. However, the report was more optimistic about the industrial and hospitality sectors. According to Cordero, traditional tenants in the manufacturing industry are expected to continue driving demand for industrial spaces, and there is anticipated growth in the hotel sector as tourism demand rises in key destinations across the country. Overall, while the office market in Metro Manila faces challenges, particularly in terms of high vacancy rates and falling rents, the broader real estate landscape remains diverse. The industrial and hotel sectors are poised for growth, and there is hope for a stabilization of the office market if businesses adapt to new working models and economic conditions. Read related article: Metro Manila Office Rents Set to Decline Further in 2025

RubyPlay showcases its brand-focused design and custom gaming solutions at SBC Summit Americas 2025, reinforcing its commitment to innovation and excellence.   RubyPlay, an innovative B2B iGaming development studio, is set to showcase how it can empower brands to achieve strong business growth at SBC Summit Americas 2025.  The company has significantly elevated its presence across the Americas over the previous 12 months following several high-profile commercial deals and launches.   Since entering the US earlier this year, RubyPlay has made an immediate impact by launching its games with FanDuel Casino and Rush Street Interactive, while Diamond Explosion® Patriots was named within the top 20 new game releases in Eilers & Krejcik Gaming’s Online Game Performance Report for February. Similar success is anticipated in Canada, where the studio is set to enter Ontario after securing a license to supply its games to operators within the province.   Over in the Latam region, RubyPlay continues to make waves across multiple regulated territories, including Brazil where its games are accessible across several of the country’s leading casino operators.  RubyPlay recently revealed its new brand vision for 2025, reinforcing its commitment to empowering brands through tailored gaming experiences. The company’s new concept places operators at the center, ensuring that their brand identity is the primary focus.  By offering fully customizable gaming solutions, seamless integrations, and brand-enhancing tools, RubyPlay enables its partners to stand out in a competitive market while deepening player engagement. RubyPlay will be exhibiting at stand C600 during SBC Summit Americas, which takes place between May 13-15 at the Broward County Convention Center in Fort Lauderdale, Florida. Delegates can learn more about its bespoke strategy that will empower brands, as well as the latest releases from its diverse gaming portfolio.   Dr. Eyal Loz, Chief Product Officer at RubyPlay, said: “ Our clients’ brands are what matter most. They hold widespread recognition among players and popular culture, which is why at RubyPlay, we’re committed to elevating those brands through tailored gaming experiences. At SBC Summit Americas, delegates will see how partnering with us means more than access to high-quality games — it means collaborating on immersive, brand-first experiences. With bespoke content, seamless technology, and a sharp focus on brand integration, we help our partners deliver greater impact and deeper player connections. Read related article: What North America Can Expect at SBC Summit Americas

Incentive Games earns UK Gambling Commission licence, boosting its reach in the UK market with secure, compliant Real Money Games for licensed operators. Incentive Games, a leading B2B games provider specialising in player acquisition and retention, is proud to announce that it has been awarded a UK Gambling Commission (UKGC) licence, issued on 27 March 2025. This allows the company to bring its innovative suite of Real Money Games to UK-licenced operators. The UKGC is recognised as one of the most stringent and respected regulatory authorities within the global gaming industry. This achievement underscores Incentive Games' unwavering commitment to maintaining the highest standards of compliance, service quality, and operational integrity. Obtaining this licence, which requires excellence in areas such as security and responsible gambling, provides access to one of the key regulated iGaming markets. Ahmed Baker, Chief Commercial Officer at Incentive Games , stated, “Securing our UK Gambling Commission licence is a major milestone for Incentive Games. It reinforces our dedication to meeting the highest regulatory standards while continuing to develop world-class products for our partners. The UK is a critical market for us, and we’re thrilled to introduce our industry-leading Real Money Games to UK operators and players. This achievement marks a pivotal step forward in our growth strategy." Read related article: Incentive Games Unveils Mega Flight, a New Crash Game Series

Playnetic , a global B2B iGaming content provider, enters the Canadian market for the first time after receiving approval for its gaming-related supplier application. Playnetic, the in-demand global B2B iGaming content provider known for its quality games, reliable delivery and outstanding customer service, has announced the approval of its gaming-related supplier application by the Alcohol and Gaming Commission of Ontario (AGCO). With the AGCO licensing process being recognised in the industry for its rigorous standards and thorough due diligence, the new certification confirms Playnetic was able to meet the high levels of integrity and regulatory compliance needed to legally distribute its content within the province. As a result of the approval, Playnetic has now secured its first Canadian market entry and will be able to provide its library of innovative games to licensed operators in the Ontario region – with this starting point paving the way for further expansion into other regulated provinces in future. Given signs of change emerging within the Canadian market and Alberta making progress toward a regulated online model – likely drawing from Ontario’s framework – this license positions Playnetic strongly to expand its footprint in the country and further solidifies the company’s ambitious growth plans. In the meantime, Playnetic has already begun making groundwork with key operators in the Ontario region and is looking forward to going live with some exciting brands over the coming months. The company will also be attending SBC’s Canadian Gaming Summit from June 17-19, where both existing and new potential partners alike are welcome to stop by and meet the team. Dan Phillips, Chief Executive Officer at Playnetic , said: “Acquiring AGCO approval for our gaming-related supplier application is undoubtedly a big step for Playnetic. The new license not only secures our first Canadian market entry, but also reaffirms Playnetic’s position as a trusted provider in iGaming and underlines our commitment to compliance and operational excellence.” Julian Borg-Barthet, Chief Commercial Officer at Playnetic, said: “We’re very excited to now be in a position to offer our library of innovative gaming content in Ontario, and the groundwork to do that with some of the region’s biggest licensed operators is already underway. Over time, we’re confident this license will also help us expand further into current markets and emerging regulated provinces, such as Alberta.” Read related article: Playnetic Partners with Microgame to Enter Italian Market

Playnetic strengthens its presence through a partnership with Microgame in Italy, bringing its innovative B2B iGaming content to over 60 operators in the regulated market. Leading global B2B iGaming content provider, Playnetic, has officially entered the Italian market through a strategic partners with Microgame in Italy, expanding its reach to local operators. As one of Italy’s leading game aggregators and service providers, teaming up with Microgame will ensure Playnetic’s full library of innovative gaming content is immediately made available to over 60 regulated Italian operators, enabling the company to hit the ground running in the market. Known for delivering truly immersive gaming entertainment, all Playnetic releases combine creative themes, cutting-edge technology and carefully-crafted audio to provide customers with an unforgettable experience that captures their imagination and promotes stronger engagement.  With upwards of 30 state-of-the-art games set to launch on Microgame powered-platforms, the deal will enable operators to witness first-hand how Playnetic is rapidly establishing itself as one of the most sought-after content providers in the industry while further diversifying their line-ups. To cement its commitment to both the Italian market and the Microgame deal, Playnetic has appointed Italy-focused Senior Account Manager, Filippo Stotani, to the commercial team spearheaded by Julian Borg-Barthet. With the team set to attend the IGE summit in Rome this month, the new partnership will provide an ideal way to introduce the brand on the Italian stage. Julian Borg-Barthet, Chief Commercial Officer at Playnetic,  said: “Our collaboration with Microgame is the perfect opportunity to align ourselves with one of the biggest partners in Italy and we’re sure the relationship will help both sides continue to deliver excellence going forward. “As our first Italian market entry, the deal will raise the profile of Playnetic in the country ahead of an important couple of days at the IGE summit in Rome, where myself and Filippo – alongside our CEO, Dan Phillips – will be in attendance to talk with prospective partners and showcase the great work we do.” Francesco Cuzzupoli, Gaming Product Director at Microgame,  said: “We’re delighted to have secured this partnership with Playnetic, who are proving to be a very in-demand provider in the iGaming space. “The company’s commitment towards the Italian market aligns perfectly with Microgame’s values and the addition of their content to our industry-leading aggregation platform will provide our partners with even more quality options to choose from. We look forward to working with Filippo and the team in the coming months and can’t wait to see what games they put out next!” Related article: GLI Granted: Growing Content Provider Enters Italian Market

PH condo vacancy rates in Metro Manila rose in Q3 2024, partly due to Chinese nationals leaving ahead of the POGO ban, says Colliers Philippines report. Vacancy rates for condominiums in Metro Manila saw a slight increase in the third quarter of 2024, according to a recent report by Colliers Philippines. The rise in vacancies is partly attributed to Chinese nationals vacating their units, ahead of the total ban on Philippine offshore gaming operators (POGOs). Colliers PH’s quarterly market report, which was cited by The Manila Times, revealed that the vacancy rate for the July to September period climbed to 17.4%, up from 17.2% in the previous quarter, with the Manila Bay area seeing a particularly noticeable uptick in empty units. “Vacancy in Metro Manila’s secondary residential market is likely to remain elevated until 2025 due to substantial new supply and as the impact of POGO exodus kicks in,” stated Colliers in its report. “The POGO sector is no longer a major driver of office space demand in Metro Manila and its impact is spilling over to the condominium market.” High Mortgage Rates Hamper Market Activity The primary challenge for the condominium sector remains high mortgage and interest rates. Even though the Bangko Sentral ng Pilipinas (BSP) has recently implemented rate cuts, analysts believe that these reductions will not have a significant impact on mortgage rates in the short term. As a result, many potential homebuyers are finding it increasingly difficult to afford condominiums, particularly in Metro Manila, where prices tend to be higher. While rate cuts could theoretically stimulate demand by making financing more affordable, Colliers PH noted that the current interest rates remain a barrier. For many buyers, especially those in the lower to middle-income brackets, the high cost of home loans is preventing them from purchasing condominium units. The slowdown in sales has been most apparent in the mid- to high-end segments of the market, where units are priced between P3.6 million and P12 million. These price points account for a substantial 57 percent of the unsold RFO inventory in the capital. Unsold Inventory and Delays in Deliveries The glut of unsold units in Metro Manila is another key issue facing the market. As of September 2024, there were an estimated 27,700 unsold RFO units in the metro, further contributing to a sluggish sales environment. These unsold units are not only affecting the sales figures for developers but are also deterring new projects. Many developers are holding off on launching new condominium developments, waiting for the existing inventory to be absorbed by the market. The situation is particularly dire in certain areas of Metro Manila, such as Pasig City, Quezon City, Parañaque, parts of Makati, and the northern sections of Manila. These areas are seeing higher levels of unsold inventory, and many of the units in these regions remain vacant due to reduced demand. Additionally, the market is grappling with delays in the completion and turnover of some condominium projects. One such example is SM Development Corp.’s Sail Residences, located in the Bay area, where turnover delays at two of the towers have contributed to a reduced forecast of condo unit deliveries. Just 9,890 units are now expected to be delivered by the end of the year, down from the previous projection of 11,290. Developers Adapting with Leisure-Themed Projects In an effort to cope with the challenges in the market, developers are increasingly pivoting to leisure-themed projects that may appeal to a wider range of buyers. Colliers PH has observed that more developers are focusing on locations outside Metro Manila, targeting resort-style condominiums, condotels, and golf communities. These leisure-oriented developments are becoming more attractive to buyers seeking properties for vacation homes or second residences. “In our view, Ilocos, Baguio, Batangas, Palawan, Boracay, Cebu, Bohol and Davao are locations to watch out for,” said Colliers about the leisure-themed projects located outside the metropolis. By diversifying their offerings, developers hope to tap into growing demand in the provincial market, which may offer more affordable options compared to the saturated and expensive condominium market in Metro Manila. The shift toward leisure properties also reflects a broader trend in the real estate sector, where lifestyle-driven projects are expected to become more common in the coming years. Demand for Enhanced Amenities and Green Technologies The condominium market is also evolving to meet changing consumer preferences. Colliers PH emphasized that condominium developers should focus on offering upgraded amenities and facilities to appeal to the current market. Features like flexible workspaces, gyms, yoga areas, and even electric vehicle (EV) charging stations are becoming increasingly important to buyers, particularly those under hybrid work arrangements. In addition to lifestyle amenities, integrating green technologies is expected to be a key differentiator in the marketplace. Consumers are becoming more environmentally conscious, and developers who incorporate sustainable and energy-efficient features into their projects will likely attract a growing segment of eco-conscious buyers. Moreover, as artificial intelligence (AI) technologies become more mainstream, the introduction of AI-powered features in residential properties is expected to become the norm, providing added convenience and automation for homeowners. Developer Strategies: Promotions and Price Cuts Given the substantial unsold inventory and the ongoing financial challenges, developers are being urged to be more proactive in their sales strategies. Colliers PH suggested that developers offer promotional deals to encourage sales. Some developers are already allowing buyers to move into properties with as little as a 5 percent downpayment, while others are offering discounts of up to 25 percent off the total contract price. These promotions are designed to incentivize buyers and create a sense of urgency in a market where demand remains sluggish. While these promotional strategies may help clear some of the unsold inventory, Colliers PH cautioned that developers need to maintain a balance between offering discounts and protecting the long-term value of their properties. Deep price cuts or excessive incentives could undermine the market’s overall stability, especially if the trend continues over an extended period. Looking ahead, the Philippine condominium market faces a number of challenges, but there are also opportunities for developers who can adapt to changing consumer demands and financial conditions. The high mortgage rates and large unsold inventory will likely continue to exert pressure on the market in the short term. However, with strategic shifts toward leisure-themed properties, enhanced amenities, and sustainable features, developers can tap into new demand sources outside of Metro Manila. Additionally, promotional offers and flexible payment schemes will likely play an essential role in stimulating demand. Read related article: Metro Manila Office Vacancy Rate Hits 20-Year High