Good morning. It continues to be a waiting game in the Philippines, as uncertainty clouds the future of the offshore gaming industry following the announcement of a POGO ban, to take effect by December 31st. A top legal expert points out that bills still need to be passed by legislative bodies to confirm the change, even as operators sit in limbo, expecting the worst. Meanwhile, SkyCity saw flat results for its fiscal year, despite an uptick in premium play. And in Macau, a joint operation by authorities busted a $420 million illegal currency trade group, continuing efforts to clean up the gaming sector.
What you need to know
- One month after the POGO ban order, the path forward remains unclear due to ongoing debates and lack of a detailed legal framework.
- SkyCity Entertainment records flat revenue for its fiscal year, despite improvements in premium play in both New Zealand and Adelaide.
- Mainland China and Macau conduct joint operation, detaining 252 suspects in a $420M illegal currency trade.
On the radar
- Macau Chief Executive not running for second term, citing health issues.
- Konami appoints former Aristocrat exec Chris Rowe as VP of North America Game Sales.
- Okada Manila parent to oust former president, elect founder’s son as Director.
- Binance launches anti-scam campaign in Macau together with Judiciary Police.
- Australia Comms authority blocks four websites for illegal gambling services.
- Cambodians lost $40 million to online scams in H1 of 2024: Minister.
AGB Intelligence
PHILIPPINES
“Noise and speculation” about POGO ban abounds
Operators, regulators, politicians and stakeholders continue to hold their breath in regards to the recent ban on offshore gaming operators (POGOs, now known as IGLs) announced by the Philippine president. Top gaming lawyer Tonet Quiogue notes that bills will still need to be passed through legislative bodies to confirm the ban, despite the December 31st deadline, but that guidance for PAGCOR should come within the next “days or weeks”.
Corporate Spotlight
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.
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.
Industry Updates
- 3 Oaks Gaming partners with Alea to broaden global presence.
- NuxGame joins forces with Gamzix to enhance player retention features.
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