4th Annual SPiCE:

UNITING THE SOUTHEAST ASIAN iGAMING INDUSTRY

13-15 August 2025

Thailand
The Landmark Bangkok

Nicholas Levenstein to Speak at SPiCE Southeast Asia 2025 – Bangkok
Date: August 15th, 2025
Format: Workshop
Location: SPiCE Southeast Asia 2025, Bangkok, Thailand
Full Agenda: https://www.spiceseries.com/ssea

We’re proud to announce that Nicholas Levenstein, Managing Director of Nicholas Levenstein & Company, will be speaking at SPiCE Southeast Asia 2025, a premier event focused on investment, innovation, and regulatory trends shaping the future of gaming, blockchain, and digital assets in the region.

Nicholas will lead a special workshop titled:

“One Up On Wall Street: Would You Invest in You?”
Inspired by Peter Lynch’s investing classic, this session challenges founders, operators, and investors to evaluate themselves and their companies using evergreen value investing principles — retooled for today’s fast-evolving digital markets. Participants will learn how to:

  • Think like a professional investor in assessing business potential

  • Identify the internal drivers of value creation

  • Position for strategic partnerships, funding rounds, or acquisition

  • Apply traditional frameworks to blockchain and digital economy ventures

Drawing from decades of experience as a hedge fund manager and financial advisor, Nicholas will help you see your business from the perspective of those who invest — and how to become one they say yes to.

Below are notes for the roundtable on crytpo in cross-border payments and gaming regulation in Thailand as well as my “Would you invest in you?” talk.

Spice Bangkok 2025 Presentation

SPICE BANGKOK 2025

One Up On Wall Street

Would You Invest in You?

1. Introduction: Why We're Here

My Story: I started as a computer consultant, moved into business buyouts, and now run a hedge fund that successfully leverages both AI and Blockchain—the very theme of this stage.

The Goal: A friend in the casino industry gave me the best advice: "People want to hear how to make money." My promise is to leave you with something practical and valuable.

2. The Peter Lynch Playbook

Simplicity is Key: Invest in what you can easily understand.
Boring is Beautiful: Unsexy, niche industries are often where the real money is made.
Recurring Revenue is King: A loyal, repeat customer base is invaluable.
Skin in the Game: Look for founder-led companies and spinoffs.

3. The Gaming Landscape: A Sea of Sameness

Let's be honest: the digital gaming space is brutally competitive.

Without a strong niche or a defensible moat, you're just another face in the crowd.

How do you stand out?

4. Finding Investable Models in This Hall

Instead of naming names, let’s look at the *types* of businesses Peter Lynch would get excited about.

Investable Business Archetypes

The Infrastructure Plays: The essential "picks and shovels" of the industry (B2B software, platforms). They have sticky, long-term contracts.

The Niche Content Creators: Founder-led studios that dominate one specific category. They are the best at *one thing*.

The Value Unlocks (Spinoffs): A large operator spins off its tech platform. The new entity is leaner, hungrier, and a pure-play investment.

The Aggregators: White-label providers who bundle content, creating an indispensable one-stop shop.

5. The AI & Robotics Revolution

Why I'm More Bullish Than Ever.

My ideal business, "Spilluminati," a 24/7 carpet cleaner, is no longer just a fantasy.

The AI Superhero

With today's advanced LLMs, every person in this room can be a research and analysis superhero. It's the ultimate accelerator.

The Robotics Workforce

My "Spilluminati" example with humanoid robots is no longer science fiction. Robotics are creating unstoppable competitive advantages right now.

6. The Most Important Decision: Knowing When to Fold

One of the biggest mistakes is not acknowledging failure and staying in a bad venture for too long. An investor bets on your judgment.

The practical, income-focused nature of the gaming industry gives you an edge here. You know when the odds are no longer in your favor.

7. Conclusion: Would You Invest in You?

  • Boring, simple, and stable often beats flashy.
  • Focus on recurring revenue and dominating a niche.
  • Use the incredible power of AI and robotics.
  • Have the courage to cut your losses and double down on winners.

Thank You

So, I ask you again...

Would You Invest in You?

NICK@LEVENSTEIN.NET

https://levenstein.net/

Notes for regulatory and cross-border payment roundtable:

Phoenix Protocol: Rebuilding Gaming Finance Through Blockchain Trust

Introduction: Thailand’s Trust Vacuum

Thailand stands at a crossroads. The bold effort to legalize integrated casino resorts collapsed in July 2025—not because there was no economic case, but because the system couldn’t offer trust. Policymakers feared money laundering, data breaches, and underground crime more than they wanted the tax revenue.

This is the 'trust vacuum.'

What we need is not another closed-door bill. We need a new system—one where compliance is verifiable, real-time, and automatic. And that’s what crypto—specifically, Bitcoin and stablecoins on distributed ledgers—can deliver.

Section 1: The Entertainment Complex Bill — A Vision That Collapsed

Thailand’s now-withdrawn casino bill imagined mega-resorts attracting billions in investment. Global giants like Las Vegas Sands lined up. Estimates said a legalized Thai casino market could overtake Singapore’s.

But the draft bill was flawed. It:
- Banned all online betting
- Relied on physical control—walls, levies, and bank deposit minimums
- Offered no verifiable financial safeguards against laundering

Then came political chaos...

Section 2: Thailand’s Dual Crypto Policy — Open Door, Iron Fist

Thailand’s stance on crypto is nuanced:
- Open door: global digital asset hub (tax breaks, stablecoin approvals)
- Iron fist: crackdown on unlicensed platforms

The strategy: a 'walled garden' where only licensed, monitored activity is allowed. This is key to building a regulated crypto-powered gaming ecosystem.

Section 3: Cross-Border Payments — Still Broken

Current systems are slow and expensive. Crypto solves this:
- Instant settlement
- Low cost
- Transparent, auditable

Traditional rails can't match crypto’s speed and traceability.

Section 4: Crypto as “Digital Cash on a Distributed Ledger”

Bitcoin and stablecoins enable:
1. Immutable ledgers
2. Smart contracts for compliance
3. Real-time oversight by regulators
4. Verifiable fairness

Thailand has tested this already with SCB’s stablecoin pilot.

Section 5: Strategic Blueprint — What We Can Do Now

Operators: use closed-loop stablecoin wallets with on-chain KYC
Regulators: launch a sandbox, observe live flows, audit in real-time

This makes compliance proactive and transparent.

Section 6: Addressing the Critics

Volatility? Use stablecoins.
Complexity? Hide it from the user.
Smart contract risk? Audit them.

Blockchain doesn’t replace regulation—it enforces it better.

Conclusion: A Second Chance to Get It Right

The EC Bill failed due to lack of trust. Blockchain provides a path to rebuild it.

Let’s turn Thailand into a global model of tech-powered compliance and transparent gaming finance.