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PH E-GAMING INDUSTRY GROWTH NEARLY DOUBLES IN 2023 – PAGCOR

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The Philippine Electronic Gaming sector had a banner year in 2023 with revenues nearly doubling year on year due to policy reforms, according to Philippine Amusement and Gaming Corporation Chairman and CEO Alejandro Tengco.

Speaking during a panel interview at the ICE London 2024 Conference in London last February 6, Chairman Tencgo said “there was a phenomenal rise of over 90% in online gaming activities in 2023 compared to the previous year.”

The E-Gaming sector – which includes e-games, e-bingo, specialty games and sports betting – contributed Php58.16 billion to the country’s gross gaming revenues (GGR) in 2023, or 92.32% higher than its earnings of Php30.24 billion the year before.

The E-Games contribution to 2023 GGR is also a new record, surpassing the previous high of Php32.24 billion posted in 2019 before the pandemic outbreak.

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Earlier, Chairman Tengco said PAGCOR reached another milestone in 2023 with more than 1,000 licensed E-Gaming sites – with more applications in the pipeline.

“Because of the policy changes implemented by the current management, there was a considerable increase in gaming sites. We also approved reductions in (licensing) rates that contributed to the spike in approved sites,” he said.

“The E-Games sector’s notable performance positively impacted not only the local gaming industry but also PAGCOR’s revenue generation efforts,” Chairman Tengco said.

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More policy tweaks – including further lowering licensing rates – and the growing integration of technology in gaming should allow the E-Games sector to continue fueling the growth of the local gaming industry with its projected Php61.75 billion in revenues in 2024.

Asia

BIGGER PRIZES UP FOR GRABS IN UPCOMING PAGCOR LINKED BINGO GAMES

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BINGO aficionados are in for another treat as the Philippine Amusement and Gaming Corporation (PAGCOR) brings back its popular linked bingo games dubbed “Mas Pinasayang Bingo Big Time Milyonaryo” on March 17, 2024 at the Le Pavillon Metropolitan Park in Pasay City.

Up to Php2 million in prizes will be up for grabs in Game 10 while a guaranteed pot of Php1 million each is at stake in the first nine games of the event.

Interested players may join through the host site or at Casino Filipino branches in Angeles, Bacolod, Cebu, Grand Regal, Ilocos Norte, Iloilo, Mactan, Mandaue, Olongapo, Tagaytay, Tagum and Talisay.

For every ticket worth Php3,000, participants will get to play four cards per game for 10 games.

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The “Mas Pinasayang Bingo Big Time Milyonaryo” is a fitting sequel to the “Paskong Big Time Bingo Milyonaryo” linked bingo games held last December where seven lucky players won Php1 million each.

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Asia

PAGCor Says 188BET’s Return to the Philippines a Huge Vote of Confidence

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The Philippine Amusement and Gaming Corporation (PAGCor) today said that it welcomes the decision of online gaming giant 1888BET to move its operations from the Isle of Man back to the Philippines.

The Chairman and Chief Executive Officer for PAGCor, Alejandro H Tengco, said 188BET’s return ‘is a huge vote of confidence for the country as a regulatory haven and this is precisely what PAGCor is working hard at’.

“188BET’s move is a very positive response to our call for gaming investors to come to the Philippines,” Tengco said. “We would like to assure 188BET and other potential investors that PAGCor shall continue to be fair to everybody and that there will be a level playing field with a predictable and dependable regulatory framework.”

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188BET announced its decision to move its operations to the Philippines earlier this week. The sports betting and casino company said that, effective March 19, its current operator, Cube Limited, will surrender its current Io MGSC licence in the Isle of Man and that 188BET will be operated by a new Philippines-based company, BestCommerce Corporation, which is licensed and regulated by PAGCor.

Tengco encouraged other investors to ride on the Philippine gaming industry’s growth momentum.

“Overall, the industry can expect sustained growth in the next five years with at least one integrated resort (IR) opening every year beginning this year in Quezon City to be followed by new IRs in Cebu, Clark and other equally strategic locations,” Tengco said.

He added that the industry can also expect PAGCor’s full decoupling from its casino operations within that time frame to become a purely regulatory entity dedicated to overseeing growth and attracting more investments.

“We shall also continue lowering our license fees and modernizing our systems to help realize our vision of making the Philippines the gold standard in gaming in the Asia-Pacific region,” Tengco said.

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188BET used to hold office in Makati but it moved out of the country during the administration of former President Rodrigo Duterte.

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PAGCOR PHOTO CONTEST DRAWS 2K EARLY REGISTRANTS IN 1ST WEEK

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THE Philippine Amusement and Gaming Corporation (PAGCOR) today reported a robust response to its much-anticipated annual photography contest after close to 2,000 individuals registered to join in the first five days after the contest launch on February 15.

PAGCOR Chairman and CEO Alejandro Tengco said the state gaming firm’s official website (www.pagcor.ph) also logged an 85.49% increase in page views compared to the previous week after the 2024 PAGCOR Photography Contest opened.

“We also monitored a 73.43% increase in our website users after we announced the start of the photography competition,” the PAGCOR chief said.

“We are optimistic that with the bigger cash prizes, lower age requirement and the new drone category, we will entice more professional photographers and hobbyists to join and showcase their talent in this competition,” he said.

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With this year’s theme, “Harvest Time”, the 2024 PAGCOR Photography Contest will highlight the Filipino’s strength of character, patience and hard work in the fields leading to and during the harvest season.

The contest also celebrates the dedication of farmers, fishermen and other producers whose labor ensures food security and sustenance for the nation.

“The summer months of April and May will be a colorful and festive season for the country, especially in the countryside. The fields are ripe for harvest, the trees are laden with fruits and the flowers are in full bloom,” Chairman Tengco said.

“We hope that our contest participants this year will be able to immortalize the remarkable and bountiful resources of the Philippines that some of us take for granted,” Chairman Tengco added.

PAGCOR has earmarked Php2.23 million for the competition’s cash prizes this year, demonstrating its commitment to recognize the outstanding work of Filipino photographers while promoting the country’s rich identity and traditions.

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Entries may be submitted until July 31, 2024.

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