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WW: 70020914 PH: 444157
Logistics ▲2.43% D30 Targets ▲2.39% POGO Prop. ▲1.87%
MiddleClass ▼1.94% POGO Gaming ▼1.38% Fast Food ▼1.12%
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- [UPDATE] PAGCOR introduces its own online casino called “Live Shots”... the virtual casino will be open to Philippine Inshore Gaming Operations (PIGOs) who are willing to pay 25% of gross gaming revenue to PAGCOR. According to PAGCOR, Solaire Resort and Casino, Okada Manila, City of Dreams, and another land-based casino in Subic have already been approved for PIGO licenses. The terms of the license dictate that access to Live Shots will only be in the Philippines, and that only PIGO “VIPs” will be able to play.
- MB: PAGCOR’s revenues have dropped 97% because of COVID, so it is obviously desperate to find some way to passively get a cut of some other action. As I speculated when the news broke about DFNN’s [DFNN 5.50 ▼6.30%] “first ever” online casino license, the rest of The Gang would probably be quite interested to follow suit. Here we are. Bloomberry [BLOOM 8.40 ▼1.18%] (Solaire) and Belle Corp [BEL 1.66 ▼1.19%] are already lined up at the trough; could Dennis Uy and PH Resorts [PHR 3.00 ▲1.01%] be that far behind?
- [NEWS] MRC Allied [MRC 0.48 0.00%] halted until full consequences of Kerberus acquisition are disclosed... the deal between MRC and 5G Security Inc (5GS) calls for MRC to acquire 75% of Kerberus from 5GS, but that’s about all we can know from the relatively short disclosure. The PSE halted the stock before the open, saying that investors need to have access to “information [that] may reasonably be expected to materially affect the market activity and the price of its securities”. There was no lift date/time provided, so investors should assume that the halt will remain indefinitely until MRC is able to provide more info.
- MB: Remember how MRC changed its articles of incorporation to change its primary purpose from “property developer” to “holding company”? Yeah, well that’s the only justification that MRC has provided for the purchase; “[the purchase of Kerberus] brings the Company closer to its aspirational goal of transforming from property business to a holding company.” Holding companies aren’t special, they’re just a company that owns other companies. Where is the strategy, here, if the goal is simply to own other companies?
- [NEWS] BHI Holdings [BH 901.00 0.00%] suspended from PSE for failure to maintain 10% public float... according to the PSE, the investment holding company’s public ownership level is just 9.86%, which is below the minimum 10% required. BHI has “not been very active in investing and is only receiving interest income”, is “still in the process of finalizing its business plans”, and BH has no principal products or services because “it has not decided as to what product or service it will introduce to the market”. It’s website is still “under construction.”
- MB: Prior to the suspension, BH was listed as having a 10.02% public ownership level, which is basically the required minimum (it’s even still listed that way now on the PSE’s website). So, how did the public ownership level fall from 10.02% to 9.86%? When Ms. Jemie U. Tan, a director of BH, bought 850 shares of BH in late October and early November. Because Ms. Tan is a director of BH, as far as the PSE’s concerned, her shareholdings are considered “non-public” holdings. Shares held by directors, officers, and even principal/substantial stockholders are not counted towards the percentage of the company that is publicly-owned. Seems like a silly mistake to make for a company that, even though it basically does nothing and looks like a rough draft, still has a marketcap of over ₱450m.
WW: 67965859 PH: 441385
POGO Gaming ▲13.40% Logistics ▲3.24% #COVID-19 ▲2.56%
Telco ▼0.88% MiddleClass ▼0.39% 2020 IPOs ▼0.29%
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- [NEWS] DFNN [DFNN 6.35 ▲41.43%] granted PH’s first online casino license, stock soars 41%... the license allows the PAGCOR-approved company to develop and operate online casino games. DFNN said that the online casino would “only available to VIP players who must meet strict eligibility and registration procedures,” and would help in “regenerating revenues for the government”.
- MB: PAGCOR has repeatedly tried to pitch “gaming” generally as the government’s cure to the cash crunch problem caused by its COVID-depressed tax income. I doubt it needed more than three slides in its pitch deck to government to get approval for the new license type. The government aches for income to replace what’s been lost. Investors and traders liked the news, in part because the complete surprise of the announcement allowed there to be a steep gap-up in the price (that’s always fun), but also because the license acts as something of a temporary monopoly for DFNN in terms of online gaming. There’s no word yet whether PAGCOR intends to license other gaming outfits to operate similar online casinos, but I’d bet that Dennis Uy and Enrique Razon are more than a little interested to join in on the fun, considering how poorly their profit puppies have performed through the pandemic. Especially if the license type will expand beyond the initial restriction to domestic bets only.
- [NEWS] PH Resorts [PHR 3.00 ▼0.99%] halted for an hour after issuance of shares to Udenna Corp disclosed... the Dennis Uy-owned integrated casino/resort developer disclosed that it sold 1,686,309,523 common shares from its unissued capital stock to Dennis Uy’s Udenna Corp for P2.8bn (P1.68/share). The PSE halted the stock for one hour under the “additional listing” rule. That lede was buried in a press release that was supposedly about PHR “topping off” the two towers at its Emerald Bay facility.
- MB: The follow-on offering that PHR conducted a month ago sold 450m shares at the same price, but this transaction is significantly larger. When the FOO dropped, Dennis Uy said: “At the offer price, investors will be given a good opportunity to get in early at attractive valuation levels.” He was really talking about himself, and about the private placement sale to Udenna that was to come. This transaction dilutes everyone materially, including the FOO buyers that diluted the previous shareholders.
- [NEWS] Mergermarket reporting Indonesian coffee chain looking for JV partner in PH... Kopi Kenangan is Indonesia’s fastest growing coffee chain, and it’s fresh off of a Sequoia Capital India-led Series B investment round that netted it a US$109m warchest for expansion. The coffee chain reportedly prefers a Philippine “family-led conglomerate”, both for the conglomerate’s deep pockets but also its experience in the domestic retail sector. Kopi Kenangan is looking to co-locate its stores in buildings with a strong BPO presence.
- MB: Looking for a family-led conglomerate with deep pockets is like shooting fish in a barrel in the Philippines. Kopi Kenangan is going to be able to run a beauty pageant to maximize the value of its potential JV. This store concept is not exactly like a convenience store (more like Luckin Coffee, actually), but it does serve some of the low-cost goodies (coffee, milk tea, snacks) that convenience stores like Seven-11 [SEVN 110.70 ▲4.43%], Ministop [RRHI 68.70 ▲0.51%], and Family Mart [PNX 12.74 ▼0.31%] use to lure customers in for repeated visits. That’s not exactly Kopi’s DNA, though, as it’s building its name and brand off of “coffee on demand” that is ordered by an app and either picked up in a small-footprint shop, or delivered direct to consumer. It’s not clear what Kopi Kenangan’s end-goal strategy is, whether it wants to be a stand-alone brand under the Kopi Kenangan flag here in the PH with its own locations, or whether it’s willing to be a branded component of a conglomerate’s overall offering, like “Ministop, with coffee by Kopi Kenangan”; either way, this is an indication that our convenience and coffee store market is heating up.
- [NEWS] Metro Pacific Investments [MPI 4.55 0.00%] buys 20% of Philippine Tank Storage International (PTSI)... the purchase was part of a larger deal that saw Keppel Infrastructure Trust (KIT) and MPI together acquire 100% of PTSI’s stock for US$333.8m. According to Mergermarket, PTSI owns the Philippine Coastal Storage & Pipeline Corporation (PCSPC), which is “the largest petroleum products import storage facility in the Philippines”. KIT and MPI purchased PTSI from the Philippine Investment Alliance for Infrastructure (PINAI). PTSI’s storage capacity includes three “tank farms” and one marine terminal area, all within the Subic Bay Freeport Zone.
- MB: There are no comments from the MPI side of the deal yet, but KIT is on record saying that this is a “strategic” acquisition to strengthen its distributable cash flow (the money that the company uses to declare dividends). KIT says the investment will help it “capture the expected growth in demand for petroleum products in [the Philippines].” I assume MPI’s reasons for entering the deal are substantially similar.
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That said, their selection of slots is much smaller than we expected considering that they work with Microgaming. We still can’t complain, though, especially after seeing some of the titles that you can play here. For example, the slots that stood out to us are the licensed/branded slots. Licensed slots are machines that revolve around IP that other companies own. This includes movies (Jurassic Park), video games (Hitman), TV shows (Game of Thrones), and more. These are fun to play because it’s highly likely that you’re going to be a fan of whatever the slot machine is about. For example, we like Jurassic Park. This means we get to kill two birds with one stone — play slots about a theme we really like. Not only that, but you can play many of these slot machines in brick-and-mortar casinos. We’ve played Game of Thrones countless times during our trips to Las Vegas. And this is just the licensed slots. You still have all the other slots that Spin Casino has to offer. This includes slots with bonus rounds, 3 and 5 reels, progressive jackpots, and features such as free spins, wilds, scatters, and more. As for stakes, they vary so much that it’s hard to give concrete numbers. That said, we found machines that allowed us to play for as little as $0.10/spin to as much as $200. Most of the machines we looked at maxed out at $30 or less, though. This means that you might have to do some digging to find the machines with higher limits. Overall, while Spin Casino’s slot section can definitely be bigger given that they’re powered by Microgaming, what they do have will be more than enough for most people. >> Claim Free Spins Now << Live Dealer GamesLast up is Spin Casino’s live dealer section. Here are the games we found during our review.
Once you click on one of these games, you’ll be redirected to a section where you’ll find several tables to choose from (depending on the game). You’ll also find a navigation bar at the top with several filters to help you quickly find the game you want to play. The lowest stakes we found for these games is $5 for blackjack. This is sort of a bummer since some live blackjack games can be played for as little as $1. However, $5 is pretty standard for a live game, so it’s not something we can hold against them. You can play some of their other games, like baccarat or roulette, for $0.10-$1 per round. The highest stakes we found were $5,000 for blackjack, $2,000 for roulette, and as much as $5,000 for everything else. These aren’t th highest stakes online, but they should work for most people. One of the most impressive things about their games is the camera work. The different angles they use and the close-ups make it look like you’re watching a movie. Depending on the game, you can also change the camera option. For example, the roulette game lets you choose from 3D, immersive, or classic camera angles The streams were very good considering how good the camera work was. We noticed a few lags, but they didn’t take away from the game much. The resolution was pretty good regardless. Other features include the option to chat with your tablemates and the dealer, adjust the sound and camera angles, bet behind, and set up automatic actions. You can even multi-table several games at once. Overall, we’re impressed with the live dealer casino at Spin Casino. You’ll have plenty of games to choose from, stakes, features, and men and women dealers that speak different languages. We recommend you check it out. >> Claim Free Spins Now << The SportsbookSpin Casino is unique from some of the other casinos under The Palace Group brand in that they also have a sportsbook. It’s called Spin Sports.Here’s what you can expect to find if you choose to bet here. Sports, Market, and Betting OptionsSpin Sports has an excellent selection of sports that you can bet on. Here’s what we found during our review.
For example, click on the soccer option, and a dropdown menu containing options such as England, Europe, Spain, Italy, and Germany will appear. This goes for many of the other options, too — you’ll find countries as subcategories. You’ll need to click on these to find the different leagues that play in those countries. Your betting options will obviously depend on the sport you bet on. We found plenty of choices, though. For example, you can bet outrights or money lines for Europa basketball. You’ll find spread betting, more money lines, oveunder, and outrights for NBA games. Click on a match, and you’ll find additional markets. For example, we checked out an NBA game and found options to bet on different quarters, total points, team points per quarter or half, overtime, and more. There are plenty of betting options here, which was a surprise, honestly, considering who’s running this sportsbook. Live BettingSpin Sports also offers live sports betting.When we were there, you could bet on soccer, basketball, tennis, ice hockey, and cricket. We wouldn’t be surprised if they covered more matches than this (when those games are available). In fact, we know that’s the case since we looked at their Event View and Live Schedule tabs. This is where you’ll see all the sports you can bet on, all the matches, and the number of betting opportunities available for each one. And that’s about it for their live sportsbook. The one thing we’d really like to see added in the future is the option to watch live streams. It’d make sense to add a racebook too. Here’s hoping that Spin Sports has both items on their to-do list. >> Claim Free Spins Now << Final ThoughtsSpin Sports is a much better sportsbook than we expected. It’s hard to expect something this impressive from a company that has been running only casinos for more than a decade.We’re fans, though. There are plenty of sports and markets to bet on. You also have your standard options for betting in American, fractional, or decimal odds, as well as using the sportsbook in different languages. That said, there is room for improvement. They could add a racebook, live streaming, and additional features and build out their esports section. But we think they’ve done a good job so far, and it’ll be more than enough for your typical casino player or recreational bettor. Banking OptionsSomething we noticed during our review is that there’s the option to deposit inside both the casino and the sportsbook. As far as we can tell, it looks like you’ll want to deposit to the section you plan to spend your time in.In other words, if you want to bet sports, you’ll want to deposit to your sportsbook account. If you want to play blackjack or slots, you’ll want to make your deposit to the casino. The good news is that it looks like the same banking options are accepted in both sections. Find an option that works for you, and you can use it in both places. When we reviewed Spin Casino, we didn’t find any evidence that suggests they charge fees on their deposits. This is great news. However, it’s not clear whether they charge fees on withdrawals. As for limits, you can cash out as much as €4,000 per week if the amount you’re trying to cash out is more than 5x the amount that you’ve deposited over the life of your account. Otherwise, it looks like you can cash out as much as £10,000 in a 24-hour period. This will depend on the banking option you use, of course. Progressive jackpots are exempt from these rules, which is great to see. It’s no surprise, though, considering that they work with Microgaming. That wraps up their banking details. The following two sections will list the banking methods you can use to fund and cash out your account. Deposits
Withdrawals
Bonus PromotionsYou can claim a few promotions as a customer of Spin Casino and Spin Sports. The following sections summarize the offers you can claim and the terms you need to fulfill if you do.Spin Casino PromotionsThe following are offers that you’ll find under the promotions tab on the casino side of things.New Player BonusThis is an offer available to first-time customers. Spin Casino is offering a 100% match bonus of up to $1,000. It’s spread out over your first three deposits like this.
You will need to roll over this bonus 50x, though the playthrough will depend on the casino game you play. We recommend reading their terms if you plan to play a game other than slots. The downside to this offer is that if you do happen to complete the playthrough with money to spare, and you want to withdraw it, cash-outs will be limited to 100 casino credits. You’ll forfeit the rest of the bonus. That being the case, it might make more sense to play the bonus (and lose money) until you only have 100 credits left. Then make a withdrawal if you want. That way, you can enjoy the bonus money/winnings for as long as possible. And that’s all they have for bonus offers. Spin Casino does say that they offer bonuses on a daily, weekly, and monthly basis. We have no idea what those offers look like, though. While we were there, we did notice that they have a “bonus wheel.” You spin the wheel, and you can earn prizes, such as bonuses to claim. It looks like you can spin the wheel once every couple of hours. This is pretty neat. Loyalty ClubSpin Casino also offers a loyalty club. This is a multi-tier program that awards more perks the higher your status.This program has six levels.
You can receive monthly bonuses too. Climb the ladder to the very top of their VIP program, and you can receive more than $10,000 every month in bonuses. Getting to each tier is straightforward — you need to earn so many points to reach a specific status, and then so many points to maintain that status each month. You’ll earn 1 point for every $10 you spend in the casino. We recommend you read their promotions page to determine for sure if this program will be a good fit for you. But if we understand their points setup and minimum point requirements correctly, then this looks like a good program to use — even for low-stakes players! Spin Sports PromotionsYou’ll need to be in the sportsbook section in order to find their sports betting promotions. The following are the promotions we found during our review, including what you can get and the terms you need to fulfill.Free Bet – First-time sports bettors will be able to claim a free bet bonus. This is a 100% match up to $200. To claim the offer, deposit at least $10. This offer has a 5x rollover ($1,000 if you claim the entire $200) before you can withdraw any winnings. We recommend you read their terms and conditions for their other rules, as you’ll need to abide by odd minimums/maximums when you make your bets. And that’s the only offer we found for sports bettors during our review. This isn’t a bad offer by any means. That said, it would be great if they had a few other promotions running. It’d be nice to see some kind of cashback or rebate offer or additional bonuses. But as the saying goes, something is better than nothing. Mobile FriendlinessBoth Spin Casino and Spin Sports are mobile-friendly. You don’t need to download any apps. All you need to do is go to the casino or sportsbook from your phone or tablet and log in. You’ll be able to play all games and make bets from your browser.It looks like you’ll have the full sportsbook at your disposal. And considering that they work with Microgaming and Evolution Gaming, we wouldn’t be surprised if most or even all of their casino games are available. >> Claim Free Spins Now << Customer SupportYou can use the following options to contact Spin Casino.
For that reason, we recommend that you make it clear that you’re a Spin Casino customer when you contact them. That way, you eliminate any confusion and reduce the chances of any unnecessary back and forth. We were disappointed to see that they don’t offer phone support despite saying they do in multiple places throughout their website. That said, phone support still isn’t a standard communication method offered by online gambling sites. It wouldn’t be fair if we held the lack of phone support against Spin Casino. Besides, you can contact them 24/7 using the methods above. We sent Spin Casino an email, and we were surprised to receive a response less than two hours later. They answered our questions, too. That’s better than the average casino for sure. For that reason, we give Spin Casino’s support two virtual thumbs up. |
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