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PAGCOR revenues surge 35.6% in H1 2023; contribution to nation-building up by 48.50%

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THE Philippine Amusement and Gaming Corporation (PAGCOR) continued to surpass its revenue achievements after it recorded P36.21 billion total income in the first half of 2023 – a 35.64% increment from its year-on-year figures of P26.70 billion.

PAGCOR’s revenues for the first half of 2023 was just P2.59 billion or 6.68% short of its pre-pandemic output of P38.81 billion in 2019.

According to PAGCOR Chairman and CEO Alejandro Tengco, with the agency’s consistent upward revenue trend, it is highly possible for PAGCOR to reach or even surpass its pre-pandemic income by the end of 2023.

“PAGCOR will certainly ride on the tide of our country’s economic growth. As economic activities reach pre-pandemic levels, we are optimistic that we can sustain the gaming industry’s growth momentum as we fortify our regulatory policies to attract more investors in the Philippines,” he said.

PAGCOR’s January to June revenues showed that income from gaming operations and regulatory fees from licensees – which amounted to P34.12 billion – remained as the biggest contributor to the agency’s remarkable revenue performance. Said amount was 38.03% higher compared to the P24.72 billion earnings in the previous year.

The higher income from gaming operations during the first semester of this year was driven by the increase in total industry gross gaming revenue (GGR). From last year’s first semester record of P91.72 billion, January to June 2023 GGR amounted to P136.37 billion – which was 48.68% higher than 2022 figures.

“With the finetuning of our regulatory policies, we believe that the Philippines will become a more attractive gaming and entertainment hub both for investors and guests,” Tengco furthered.

The PAGCOR chief added that as one of the biggest contributors to national coffers, the state-run gaming firm is not dependent on any government appropriation or subsidy.

“It is in fact the other way around as PAGCOR remits close to 70% of its revenues to the government in the form of direct remittances to the national coffers and through its other mandated contributions,” he stressed.

Because of PAGCOR’s remarkable revenue performance during the first half of the year, its contribution to nation building also rose by 48.50% — from P15.23 billion in the first half of 2022 to P22.62 billion this year.

Of the P22.62 billion contributions to nation building, P16.20 billion went directly to the National Treasury as 50% government share. Meanwhile, 50% of PAGCOR’s first semester remittances to the national coffers or P8 billion will be transferred to the Philippine Health Insurance Corporation to fund the Universal Healthcare benefits.

Aside from its contributions to the National Treasury, PAGCOR allocated P3.61 billion for the government’s socio-civic programs. A total of P1.70 billion was likewise remitted to the Bureau of Internal Revenue as 5% franchise tax, while the Board of Claims under the Department of Justice received P19.92 million.

The state-run gaming and regulatory firm likewise remitted P810.47 million to the Philippine Sports Commission (PSC). An additional P17.97 million was released to the PSC as Sports Incentives and Benefits for national athletes and coaches who won in international competitions. Meanwhile, cities hosting PAGCOR’s Casino Filipino branches also received P225.86 million.

Tengco cited that with PAGCOR’s remarkable performance in the first half of the year, the agency is projecting at least P272.74 billion revenues by the end of 2023.

“We have already hit approximately P136.37 billion Gross Gaming Revenue or GGR in the first semester. With the favorable business environment that we have right now, we are hopeful that we can reach or even surpass our revenue targets and contribute more to nation-building.”

Gaming

The mobile gaming market is growing and attracting new companies. GAMIVO is the latest example

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The mobile gaming market is growing and attracting new companies. GAMIVO is the latest example
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Usually, consoles and PCs come to mind when discussing the gaming industry. The mobile sector is often treated as a child of a lesser god, even though it generates almost as much revenue as console and PC combined. Some companies can see this potential. For instance, the e-commerce platform GAMIVO has recently entered the mobile market, allowing players to buy in-game items cheaper.

Back on course

The entire video game industry has evolved incredibly, but the most spectacular has been the growth of the mobile sector. It expanded from 36.9 million dollars in 2016 to 93.2 billion in 2021. Unfortunately, the gaming market suffered from a decline that stemmed from the overoptimism of the pandemic era. As a result, the mobile gaming industry revenues dropped to 92.2 billion in 2022 and to 90.5 billion in 2023. Recent information has indicated this was a necessary correction rather than a long-term trend.

The latest Newzoo report, issued in August 2024, shows that the industry is on the right track again. According to analysts, the mobile sector will generate revenues of $92.6 billion, representing +3.0% growth year-on-year. It’s nearly half of the entire gaming industry.

Billions of players

Revenues are crucial, but they only show part of the story. To fully understand the size and potential of mobile gaming, it’s necessary to consider the number of players, which constantly grew even when revenues dropped. Newzoo estimates that it will reach 2.8 billion in 2024. It means that almost twice as many people play on mobile devices than on PCs and consoles combined. Currently, every third person on Earth plays on mobile devices, and there’s still space for further growth.

“There are emerging markets where smartphones and mobile networks can expand, providing new potential players. Furthermore, this type of entertainment has a low entry barrier because most popular games are free and don’t require high-end devices,” explains Mateusz Śmieżewski, the CEO at GAMIVO.

One hobby, different habits

GAMIVO is an example of a company that has recently joined the party to get a piece of the mobile pie. “We examined the mobile market for a very long time, trying to find a suitable place for us. It’s essential to understand that mobile gaming and mobile gamers differ from their PC or console counterparts. You can’t do the same things you do with PC and consoles and hope to replicate your success,” said Mateusz Śmieżewski.

Studies confirm this observation. Average PC and console players spend about 2.1 hours a day in virtual worlds. It’s half an hour more than mobile gamers. However, things get interesting when we take a look at playtime per week, which is the same for mobile and console (5.4 hours) and slightly longer for PC (5.7 hours). Moreover, typical PC and console owners play 2.6 and 2.7 days a week, respectively, while mobile players play 3.4 days per week.

Those statistics prove that PC and console players are more dedicated, spending more time in games’ worlds once they enter them. However, mobile gamers prefer shorter but more frequent sessions. They play while commuting or have a short amount of free time.

“Mobile players are more willing to uninstall games and give another title a chance. Hence, the gameplay has to be captivating and designed to provide quick but intense sessions.

Furthermore, even though the average weekly playtime is identical to PC players, many mobile players don’t think of themselves as gamers,” clarifies Mateusz Śmieżewski.

Another major difference regards the way in which revenue is generated. PC and console games traditionally represent the premium model, where players buy the game. Most popular mobile releases are free and generate revenue with microtransactions. Almost all titles allow players to spend their real money on virtual coins, crystals, and other items that can be used to unlock additional content or reduce cooldowns.

Entering the mobile market

Those contrasts and nuances scare most companies from the mobile market. Let’s see how GAMIVO has coped with this.

“We decided to launch a new product category dedicated to mobile gamers. Our model allows them to top up in-game accounts cheaply. As a result, they can save up to 30% on buying virtual items, upgrades, and other content. The GAMIVO offer includes the most popular mobile titles, such as Genshin Impact and PUBG Mobile, and still extends,” describes Mateusz Śmieżewski.

“We dedicated a lot of time to research and analyses. Also, the development process required a lot of work to provide GAMIVO customers with safe transactions and a user-friendly environment. The first reactions are very positive, confirming our belief that our decision was right and there is still more space in the mobile game market,” concludes the GAMIVO CEO.

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Gaming

AI Gives Horses for Courses True Meaning in ‘Owners Club’ Racing Game

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Invincible GG, a groundbreaking competitive gaming platform and technology company, has outlined the latest AI developments of its interactive mobile horse racing game, Owners Club, which is set to provide a new injection of interest into the ancient sports of kings.

Following a successful game launch in Q3 2024 and activations at the Doncaster St. Leger and York Ebor festivals, thousands of Owners Club players have started to formulate an expansive game world that gives the masses the true feeling of horse ownership, breeding, and racing experiences. 

Being founded on the latest in AI and Web3 technologies allows the game to evolve with more nuance over time, with the former being implemented to enhance users’ strategic horse development and create developing traits and performance benefits that can lead to further self-training opportunities in-game.

Each horse has its own unique, nuanced genetics and racing traits. These can be trained via evolving in-game activity—which will include collaborative intelligence in future releases and passed on to future colts and fillies to create racing dynasties that will stand the test of time while also bringing in lucrative in-game winnings and potential syndicate stud earnings.

Further features include an AI-powered event simulation engine (instead of predetermined RNGs), and sophisticated algorithms that factor in horse health, jockey decisions, and environmental factors that ensure Owners Club races maintain tension and excitement throughout, just as racing fans in the real world would experience from the grandstand.

Jonathan Strause, Invincible GG CEO, said: “Gamers of today want more than static, insular game worlds. They’re looking for immersive experiences in evolving ecosystems, multiplayer competition, and the feeling that they’re fully integrated into the game. Owners Club is offering just that for both current racing enthusiasts and the next generation of racing fans.

“With unrivaled AI integration into the theoretically unlimited stable of in-game horses, combined with back-end Web3 technology that empowers players to easily realize what true thoroughbred ownership and training feels like, Owners Club players can forge their own relationship with horse racing via the gamification of training, racing, and trading in the app, which can only help the future engagement of this ancient pastime.”

Owners Club will be showcased to its biggest live audience yet at the QIPCO British Champions Day on 19th October, 2024, with live races broadcasted as-live to screens around Ascot, with various prizes on offer for the winning owners.

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Gaming

Evoplay introduces action-packed skill-based title Adrenaline Rush to wider operator network

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Evoplay introduces action-packed skill-based title Adrenaline Rush to wider operator network
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Evoplay, the award-winning game development studio, is expanding the availability of its flagship 3D racing title Adrenaline Rush to all of its operator partners, following a successful exclusive release.

Adrenaline Rush combines the thrill of high-speed racing skill-based gaming mechanics, providing an immersive experience for players who enjoy a strategic and competitive edge in their gameplay. Players can engage in intense races where success is determined by both speed and skill, making it a standout title in Evoplay’s diverse portfolio.

Following its main global release on October 8th, Evoplay is set to launch two additional versions of the game, slot title Adrenaline Rush: Super Boost on October 22nd, and crash game Adrenaline Rush: XCrash on November 5th, creating an expanded offering that caters to a variety of player preferences.

Released initially as an exclusive, Adrenaline Rush has already garnered attention for its innovative mechanics and immersive gameplay, earning the Skill Games Supplier award at the prestigious EGR B2B Awards. With this wider release, Evoplay’s global operator network will now be able to offer the title to an even broader audience.

Ivan Kravchuk, CEO at Evoplay, said: Adrenaline Rush is a one-of-a-kind experience that perfectly blends competitive racing with skill-based gaming. Since its launch, it has resonated strongly with players, and we’re thrilled to now offer this exciting title to all of our operator partners globally.”

“The upcoming releases of the equally popular slot and crash versions will ensure that Adrenaline Rush remains a fan favourite across multiple formats.”

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