Connect with us
SOFTSWISS

Asia

PAGCOR Net Income Down 87% in 2021

Published

on

Reading Time: 2 minutes

 

The Philippine Amusement and Gaming Corporation’s (PAGCOR) net income down nearly 87% to $3.9 million in 2021 as lockdowns continued to restrict casino operations.

The Philippines casino industry was severely hit by the Covid-19 pandemic, with lockdowns and preventive measures still in place during the last year. In comparison, PAGCOR posted $30.3 million in 2020.

The corporation’s total income net of gaming of taxes and contributions settled at $359.3 million last year, down by 9.4% from $396.7 million in 2020. Moreover, expenses, which include contributions to the national government, reached 349.7 million, down 4.48% from 2020.

PAGCOR Chairman Andrea Domingo said that the significant drop in net income was attributable to the Covid-19 pandemic, and the absence of non-gaming revenues. Moreover, the closure of some Philippine Offshore Gaming Operators (Pogos) also contributed to the income decline.

“The Pogos missed their target by almost 20% for lack of manpower, a good number closed down and [were impacted by] the slowing down of the world economy,” Domingo said.

It is estimated that about 32 out of the former 60 Pogos in the Philippines have left the country, most of them having already transferred to other jurisdictions.

The Chairman further revealed that, due to the drop in revenues, there will be fewer funds to contribute to government programmes, including Universal Health Care. In comparison, 2020 proved to be a better year for the state-run corporation as PAGCOR was able to accumulate savings from the first three months of the year, in which casinos were in full operation.

Along with results for full-year 2021, the gaming regulator also reported income from gaming operations for Q4 2021. For the three months to 31 December 2021, PAGCOR reported an income of $638.9 million, up 8.8% from the same period the prior year, and up 46.5% from the prior quarter.

Asia

IN7.COM LTD 2024 Goals: Expands Indian Market and Fortifies Charitable Activities

Published

on

Reading Time: < 1 minute

IN7.COM, a highly popular gaming and online sports platform, primarily caters to the Indian market and has expanded its services to Brazil.

Bolstered by rapid growth in the online sports and gaming sectors, IN7.COM LTD plans to enlarge its local service team to over 1000 professionals by the end of 2024. This expansion encompasses a spectrum of roles, including seasoned gaming specialists such as customer support, product managers, data scientists, analysts, as well as social media and digital marketing experts, and engineers.

The objective is clear: to elevate user experience and platform performance, ensuring seamless support and service delivery while crafting captivating, visually stunning, and technologically advanced gaming experiences.

Charitable Activities:

IN7.COM LTD owns a charitable department, actively engaging with communities in need by reinvesting a portion of its profits into societal welfare.

IN7.COM’s charitable activities encompass providing vital assistance to impoverished regions and caring for stray animals. Last week, employees of the department distributed heartwarming gifts to two children’s charity homes in Africa, containing essentials such as rice, beef, pencils, books, snacks, and toys.

The department head said, “IN7.COM also plans to establish a sports charity organization in the future, aiming to offer sustainable growth opportunities for outstanding individuals, groups, or organizations dedicated to sports development.”

 

Continue Reading

Asia

NODWIN Gaming appoints former TEC Co-Founder Ishaan Arya as Vice President of Sales & Partnerships

Published

on

Reading Time: 2 minutes

 

NODWIN Gaming, the leading South Asian gaming and Esports company, has appointed Esports veteran Ishaan Arya, as Vice President of Sales and Partnerships to bolster its leadership team.

With over a decade of experience, the former co-founder of The Esports Club has played a pivotal role in spearheading some of the country’s largest gaming and Esports events, including The Arena, India’s premier consumer gaming event. His guidance not only propelled The Esports Club to unprecedented heights but also facilitated its expansion beyond India into the markets of the Middle East and Southeast Asia.

In his new role at NODWIN Gaming, Ishaan will focus on enhancing the value of the company’s existing IPs, such as BGMS, DreamHack India, NODWIN India Premiership, Valorant Challengers South Asia, and Comic Con India, ensuring their sustained growth and global audience engagement. He will be working on new brand partnerships, initiatives and innovating IPs as NODWIN Gaming pushes the boundaries in the gaming, esports, and lifestyle segments.

Sharing his thoughts, Ishaan Arya, Vice-President of Sales and Partnerships at NODWIN Gaming, stated, “I am excited to join NODWIN Gaming to contribute to their massive roster of global gaming, esports, and lifestyle events. As one of the top new-age sports media organizations in the world, NODWIN Gaming’s visionary approach and global roadmap have always been top-notch. Alongside a fantastic team, I am eager to utilize my expertise in large-scale gaming events and publisher partnerships to elevate the company to new heights.”

“At NODWIN, we pride ourselves in encouraging our leaders to take ownership in various aspects of the business. As a founder himself, Ishaan not only brings a wealth of knowledge and experience but will also drive innovation and growth across key verticals of our gaming and entertainment segments,” said Akshat Rathee, Co-Founder and Managing Director of NODWIN Gaming.

Since its inception, NODWIN Gaming has cemented its position as a frontrunner in the global gaming and Esports industry. The company has been making significant strides in venturing beyond Esports, recently acquiring Comic Con India, alongside obtaining a 51% stake in the Singapore-based media company Branded.

With experience working with Comic Con India as well as industry giants like NVIDIA, Intel, LG, Lenovo, Dell, JBL & Amazon, in the past, Ishaan will be a key addition to NODWIN Gaming as they drive innovation and progress in the gaming and Esports sector.

Continue Reading

Asia

NOVOMATIC Showcases Exceptional Highlights at G2E Asia in Macao

Published

on

Reading Time: 2 minutes

 

This year’s G2E Macao was a great success for NOVOMATIC. The gaming technology leader set new standards in the industry, with innovative products, state-of-the-art technologies and impressive new gaming solutions that were exceptionally well received by visitors and technology enthusiasts alike.

NOVOMATIC showcased its internationally acclaimed DIAMOND X cabinets and introduced new gaming content. The sophisticated J-curved DIAMOND X 1.55J featured the XTENSION LINK Volume 2, a high-performing Linked Progressive title with five new games, including internationally popular titles such as Golden Book of Ra and Golden Charming Lady in their exclusive XL versions. CASH FLOOD Link, another fan favourite, was also presented in the DIAMOND X 1.55J cabinet. This new Linked Progressive includes the titles Secrets of Wealth, Magic Cleopatra, and Roll on Fire – a trio that ensures three times the excitement on the gaming floors.

The multi-screen DIAMOND X 2.32/3.32 also attracted lots of attention, featuring the latest Linked Progressive Superia GOLDEN LINK Volume 2. This Jackpot offers a captivating gaming experience and golden winning chances with five new games, including Mermaid Beauty, Shanghai Club, Queen of the Night Magic, Empress Sissi, and all time NOVOMATIC favourites such as Golden Book of Ra and Golden Charming Lady.

A standout feature of NOVOMATIC’s presentation at G2E Macao was the brand new ETG solution, NOVO UNITY PRO. This advanced system enhances the casino floor with unparalleled functionality and flexibility to meet the demands of the future, enabling the integration of electronic live games such as SicBo and Baccarat as well as Roulette, Poker, Black Jack and slot games across numerous player stations. The innovative Simultaneous Betting functionality promises a new level of game engagement for players and offers the option to play up to three electronic live games at the same time.

The NOVOVISION casino management system revolutionises casino operations with an extensive range of features that go far beyond traditional accounting, jackpots, player tracking, cashless and TITO transactions. NOVOVISION also introduces biometric technologies for player recognition as well as access and payment solutions, setting new standards for the management of gaming operations.

Thomas Schmalzer, VP of Global Sales and VP of Product Management at NOVOMATIC AG, said: “As one of the most important trade shows for the Asian market, the G2E in Macao was an exceptional opportunity for NOVOMATIC to connect with our customers and expand our market presence. We are very pleased with our continuous growth in Asia and are proud to have presented a powerful portfolio of products and solutions at the trade show. We are looking forward to further strengthening our position as an industry leader using a specific product strategy and content tailored for the local markets.”

Continue Reading

Trending (Top 7)

Get it on Google Play

EuropeanGaming.eu is a premier online platform that serves as a leading information hub for the gaming and gambling industry. This industry-centric media outlet reaches over 200,000 readers monthly, providing them with compelling content, the latest news, and deep-dive insights.

Offering comprehensive coverage on all aspects of the gaming sector, EuropeanGaming.eu includes online and land-based gaming, betting, esports, regulatory and compliance updates, and technological advancements. Regular features encompass daily news articles, press releases, exclusive interviews, and insightful event reports.

The platform also hosts industry-relevant virtual meetups and conferences, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - European Gaming is part of HIPTHER. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.