You mentioned that you're currently in all of South and Southeast Asia. Could you specify which countries you're in?

Our main focus at the moment is the Indian market, including India, Bangladesh, Pakistan, Nepal, and Sri Lanka. We also operate in Cambodia, Myanmar, Thailand, Malaysia, and Taiwan, although we're gradually withdrawing from Taiwan. We avoid the Philippines market as well, as some of our operations team is based there. We have yet to venture into Japan, or Korea, but Korea is on our roadmap for this year. We also have a small presence in mainland China. Hence, our primary focus is India and its neighboring countries.

How do they get access to content if they don't have any license? Presumably, there's someone in the chain that needs to check that, right?

Yes, you're correct. Not all game providers require a license. Some do, some don't really care, and some just turn a blind eye. Aggregators don't really care either. They just need your company details and registration. The white labels also don't really care. They will casually mention that you should get a license, you nod your head in agreement, and the question is never brought up again.

Are live casino games a product for the average Indian, or do they appeal more to the affluent?

Live casino games are played by everyone, as the minimum bets are quite low. They don't specifically target VIPs, although some brands do. The typical player of live casino games is not necessarily someone with a higher income or more education. It's a game for any bettor.