Good Morning. Growing and growing. The Philippine Amusement and Gaming Corporation (PAGCOR) reported a substantial 121.4 percent increase in its net income to PHP6.56 billion ($112.3 million) for the first half of 2024. The boost in GGR was driven mainly by online gaming revenues which reached PHP20.66 billion ($353.79 million), with CEO Alejandro Tengco believing GGR could exceed PHP100 billion in 2024. Meanwhile, a recent study conducted by the Asia Pacific Association for Gambling Studies revealed gaps in the information disclosure practices of Macau’s major gaming operators over the past decade. Jumping to horse racing, the 40th Asian Racing Conference (ARC) this year is set to feature an extensive program centered on Japanese racing breeding, business leaders and key stakeholders.
What you need to know
- The Philippine Amusement and Gaming Corporation (PAGCOR) has reported a substantial increase in its net income for the first half of 2024.
- A study reveals that Macau’s gaming operators have deficiencies in information disclosure and lack responsiveness to stakeholder expectations.
- 40th Asian Racing Conference program centered on Japanese racing breeding, business leaders and key stakeholders.
On the radar
- The Star Entertainment receives approval for CFO and Sydney CEO appointments.
- Queensland pubs and clubs gaming revenue up 7.9% yearly in June.
- Philippines court freezes assets of “POGO Mayor” Alice Guo.
- Macau 2Q24 hotel price index declines by 21% QoQ.
- Curacao reopens its gambling licensing portal.
AGB Intelligence
MACAU
Study finds gaps in CSR disclosure practices of Macau gaming operators
A recent study centered on Corporate Social Responsibility (CSR) practices and information disclosure of Macau’s major gaming operators from 2012 to 2021 noted a pattern of gaming operators delaying or inadequately responding to stakeholder expectations, particularly around promoting local employees. However, the study also highlights the substantial contributions these operators have made, including over $27 billion in tax revenue and employment of over 80,000 local residents at their peak, representing over a quarter of Macau’s workforce.
Corporate Spotlight
Know Your Enemy: An Interactive Guide to Online Gaming Fraud
Online gaming fraud is on the rise in the iGaming industry. In Q1 2022, there was an 85% increase in fake account registrations compared to Q4 2021. While players are undoubtedly affected by gaming fraud, iGaming platforms also suffer due to damaged reputations, huge financial losses, and legal consequences.
How 1xBet dominates the Asian market: conditions and approach
1xBet operates in several dozen countries in Asia, and the number of partners in this region is growing steadily, which indicates the effectiveness of the 1xPartners affiliate program. The brand offers favorable conditions and a modern set of tools for making money on the Internet.
Industry Updates
- Joey Yung unveils The Grand Finale of ‘Melco Residency Concert Series 2024’
- Aviatrix finds new home in Brazil with Casa de Apostas.
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