Asia
PAGCOR Income Drops 83.8% in 2020
Philippines gaming regulator PAGCOR reported income from gaming operations of just under US$624 million for FY2020, which is down 60.4% from the income it earned in 2019.
The decline followed the devastating impact of the COVID-19 pandemic nationwide – particularly in the capital city of Manila where casinos were shuttered in mid-March and only granted permission to reopen at a maximum 30% capacity in late August.
According to PAGCOR’s statement of comprehensive income, profit fell by 83.8% in 2020 to Php1.57 billion (US$32.7 million) compared with profit of almost Php10 billion (US$201 million) in 2019.
However, the second half of the year at least pushed the regulator back into the black, having previously reported a loss of Php1.60 billion (US$32.5 million) for the first six months of 2020. PAGCOR had suffered a loss of Php2.38 billion (US$48.4 million) in Q2 alone.
Based on third quarter figures published in October, PAGCOR produced income from gaming operations in 4Q20 of Php7.67 billion (US$159.6 million) with profit of Php1.43 billion (US$29.7 million).
For the full year, income from licensed casinos – those not operated by PAGCOR – totaled Php11.52 billion (US$239.7 million) while POGOs contributed US$96.9 million.
Asia
Google I/O 2024 Project Gameface Android Showcase Powered By Made-in-India Indus Battle Royale
At Google I/O 2024, Google and SuperGaming showed how developers can empower over three billion Android devices with an unprecedented level of accessibility. The Project Gameface for Android showcase was also powered by SuperGaming’s upcoming made-in-India-for-the-world battle royale, Indus.
“We believe that with Project Gameface and Google AI, developers have the opportunity to bring gaming to everyone,” says Roby John, CEO and co-founder, SuperGaming. “We’re proud to partner with Google to showcase the fullest expression of accessible gaming through Indus at Google I/O 2024.”
Accessibility is crucial because it allows for games to be enjoyed by a wider range of players — regardless of their cognitive, physical, or sensory abilities. With Project Gameface, players can raise their eyebrows to click and drag, or open their mouth to move the cursor, making it possible for anyone to pursue gaming.
Asia
GROSS GAMING REVENUES UP 18.5% TO PHP81.7 BILLION IN 1Q
The Philippine Amusement and Gaming Corporation (PAGCOR) today said the country’s Gross Gaming Revenues (GGR) in the first quarter of the year reached Php81.70 billion, an 18.54% increase from the Php68.92 billion in the same quarter last year.
The latest GGR is another new record, sustaining an upward trend for the local gaming industry since the post-pandemic recovery started in the last quarter of 2022.
PAGCOR Chairman and CEO Alejandro H. Tengco said the Electronic Games (E-Games) sector continues its record-breaking performance, bringing in Php22.5 billion or more than six times the 2023 first quarter revenues of Php3.5 billion.
“The E-Games revenue performance continues to exceed our projections, and this reflects how gaming technology and the proliferation of mobile devices is influencing not only our daily lives but our entertainment choices as well,” he said.
“With the way technology is constantly shaping our lives and the way we do business, and even the way we choose to be entertained, the future of gaming clearly lies in this sector,” Mr. Tengco added.
The PAGCOR chief said the state-run gaming agency’s improved regulatory policies and reduced fees also contributed to the success of the E-Games sector.
“We are confident that with our new regulatory policies, more gaming companies both here and abroad will continue to look at business and investment opportunities in the Philippine gaming industry,” he said.
The biggest contributor to the 1Q GGR is still the country’s licensed casinos which brought in Php49.7 billion, although it is lower than the PhpPhp54.15 billion year-on-year.
PAGCOR-operated casinos under the Casino Filipino brand brought in Php4.69 billion, also lower than the previous year’s Php5.13 billion, underscoring the challenge faced by the segment as more players continue to migrate to online platforms.
Bingo operations contributed Php4.81 billion to the GGR, also lower than the 2023 first quarter take of Php6.13 billion.
The country’s projected full year GGR is Php336 billion and the first quarter total is more than 24% of the target. Gaming revenues traditionally spike in the last quarter of the year.
The first quarter GGR for 2024 is however still higher than the previous record of Php80.12 billion set in the last quarter of 2023, when full-year GGR reached Php285.27 billion.
Asia
ProgressPlay takes new standalone product to Asia
ProgressPlay, renowned as one of Europe’s Top 10 Casino Tech Solutions Providers in 2024, is set to make waves in the Asian iGaming sector with its groundbreaking standalone product. Making its debut at SIGMA Asia 2024 in Manila, ProgressPlay aims to captivate attendees with its innovative offerings showcased at stand BR917.
With ProgressPlay’s new standalone product, partners are able to market all markets.
SIGMA Asia, slated to run from June 3rd to 5th at Manila’s esteemed SMX Convention Centre, has already generated immense anticipation within the industry. With a diverse array of top-tier B2B and B2C exhibitors, including ProgressPlay, the event promises to be an unrivaled gaming hub, expected to attract over 20,000 delegates.
The Asian iGaming industry is experiencing exponential growth, fueled by technological advancements and a surge in demand for online gaming experiences. With the widespread adoption of mobile devices and digital payment methods, coupled with the popularity of online gaming, the sector presents lucrative opportunities for gaming entrepreneurs seeking to establish their presence across the continent, starting with a standalone solution.
Marina Nahhas, Sales and Marketing Manager at ProgressPlay said: “We are super excited making our debut at SIGMA Asia with our latest products. Our standalone product has huge potential for local markets and the exhibition gives us an excellent opportunity to present it to a large number of potential new customers.”
ProgressPlay’s standalone licensee offering made its debut at ICE back in January, and in this arrangement ProgressPlay serves as the technology provider while partners take charge of all their own operations.
ProgressPlay’s platform has been meticulously developed over the years, boasting a team of top-notch professionals dedicated to serving regulated markets including the UK. The platform is fully equipped to meet all the diverse requirements, many of which are proprietary services developed in-house.
Notably, ProgressPlay’s platform boasts proprietary AI capabilities for safer gambling shortlisted in the EGR Awards, setting it apart in the industry. Moreover, the platform offers unparalleled flexibility, enabling operators to tailor their offerings to specific regions and regulatory requirements. Through a strategic joint venture with a reputable cashier, ProgressPlay facilitates seamless integration of various payment methods, catering to the diverse needs of its partners.
ProgressPlay CEO Itai Loewenstein said:“The biggest advantage of the standalone platform is that it enables operators to have a much wider selection of countries and regulatory territories to choose from based on the licenses they hold and the built-in proprietary cashier that is easily adapted to the relevant markets and payment processors. An additional advantage for operators is the ability to create brands under the standalone platform, which is especially helpful in generating healthy ROI in Asian markets which we will be showcasing on stand BR917 at SiGMA Asia.”
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