Good Morning. A move in the right direction. Andy Jeon, COO of Winn Tech, believes the lowered fee enhances POGOs’ competitiveness against both land-based casinos and the grey market, which often faces lower taxes. In an interview with AGB, Jeon considered that this reduction aligns with PAGCOR’s goal to cleanse the market and incentivize black market players to legitimize themselves. Meanwhile, Genting Singapore dismissed any impact on its business by the warning issued by Chinese authorities for the country’s citizens to avoid gaming in the city-state. As for Macau, the city’s Legislative Assembly unanimously approved a new gaming credit legislation allowing only gaming operators to extend chips to gamblers as credit.
What you need to know
- PAGCOR’s reduction of licensing fees will enhance the competitiveness of Philippine POGOs, according to an insider.
- Non-gaming offerings to shield Genting from possible reduction in Chinese gamblers – Board of Directors.
- Legislative Assembly of Macau approves fresh gaming credit legislation, prohibiting junkets from issuing gaming credit solely.
On the radar
- The Star records net loss of $4.4M due to absence of high-end players.
- Macau illegal gambling law imposes fines for gambling in public places.
- Macau’s Tourist Price Index up 4.7% in 1Q24 driven by hotel room rates.
- Summit Ascent issues update on Tigre de Cristal and trading suspension.
AGB Intelligence
POGOS
Winn Tech COO: Fee reduction will help POGO market cleanse
The lowered licensing fee enhances POGOs’ competitiveness against land-based casinos and the grey market, which often pays less in taxes, Andy Jeon, COO of Winn Tech said in an interview with AGB. This reduction supports PAGCOR’s goal of incentivizing black market operators to legitimize themselves, with revised regulations for Internet Gaming Licenses said to strengthen due diligence and compliance checks, emphasizing integrity in online gaming.
Excelling with local and international high-rollers
Hakan Dagtas, the COO of Newport World Resorts, says that the group is working hard to attract more international players, seeing a strong presence in VIP. But the local VIP and premium mass are also seeing strong returns, despite facing strong competition not only from Metro Manila, but other gaming hubs in the Philippines.
Corporate Spotlight
Sumsub takes the lead in gaming fraud protection
Sumsub, a full-cycle verification platform, proudly sponsored the ASEAN Gaming Summit 2024. Their sponsorship reaffirmed their commitment to helping gaming companies combat fraud amidst the escalating threat of illicit activities in the region. Sumsub took centre stage with an insightful panel discussion on How can PAGCOR use AI for Responsible Gaming/AML compliance.
A complete guide to the 1xBet affiliate program
1xBet, a leading global betting company, introduced its affiliate program in 2016, quickly becoming renowned within the industry and earning recognition at the SBC Awards.
Industry Updates
- Galaxsys launches in cooperation with Hot Gear Fashion TV Gaming Group.
- Blueprint Gaming extends Netherlands presence.
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