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Philippines Bank Chief Says Online Gambling Ban Will Not Impact Local Economy

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Philippines Central Bank Governor Benjamin Diokno has told that the banning of online gambling will not have much impact on the Philippines economy.

“There’s some benefits, in terms of if they pay their taxes but there are also some risks. I tend to be risk averse. I’d rather they leave, if I have my way,” Diokno said.

China recently urged Manila to outlaw the cross-border activities it says pose money laundering risks.

Online gambling companies, known in the Philippines as POGOs for Philippine offshore gambling operators, are a boon for the local economy, drawing many visitors from China who work in them, fuelling property demand and retail spending.

Diokno said that the industry contributed only “a few billion” pesos in tax and had little impact on the real estate sector, while he said it presented “a risk of money laundering.”

The Philippine gaming regulator has stopped issuing licenses to online gambling firms. The lawmakers and some ministers have called for tighter controls on Chinese visitors, saying many are illegal workers whose presence raises security concerns.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Philippines Bank Chief Says Online Gambling Ban Will Not Impact Local Economy

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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CEO of PIN-UP Global claims the charges against the Ukrainian partner to be legally absurd

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The State Bureau of Investigation (SBI) of Ukraine initiated criminal proceedings against the owner of the PIN-UP Ukraine operator (Ukr Game Technology LLC), Ihor Zotko, on charges of high treason and aiding and abetting Russia. It entailed freezing of the company’s accounts and complete suspension of its operations.

The accusations are based on license payments that Ukr Game Technology LLC (Brand PIN-UP.UA) transferred to PIN-UP Global (GuruFlow Team LTD), an international iGaming holding company registered in a European jurisdiction.

Marina Ilina, CEO of PIN-UP Global, strongly denies the accusations, stating that these are legitimate payments under the software license agreement. She emphasizes that GuruFlow Team LTD has transparent operations, is licensed in Europe and has no financial transactions with Russia.

“These accusations do not stand up to criticism. I am a Ukrainian and openly support my country. All the activities of my company are transparent and can be easily verified. We have no financial transfers to Russia, but only legitimate business operations. The case against Ukr Game Technology LLC may create a dangerous precedent in which standard commercial operations, such as royalty payments to international companies, are equated with a crime,” Ilina said.

According to her, the mere fact of the investigation led by the SBI raises serious concerns and looks like an element of pressure, since, according to the legislation, cases of high treason are in the competence of the Security Service of Ukraine (SSU), not the SBI.

Ilina believes that the development of the situation around Ukr Game Technology LLC may affect the international business perception of the investment climate in Ukraine and create risks for operation of foreign iGaming companies in the country.

The post CEO of PIN-UP Global claims the charges against the Ukrainian partner to be legally absurd appeared first on European Gaming Industry News.

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Play’n GO unveils the dazzling Crystal Hall

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Play’n GO welcomes players to the enchanting world of Crystal Hall, the latest addition to their ever-growing portfolio of innovative slot games.

This title combines engaging mechanics with the sleek, timeless aesthetic of titles like Big Win 777 – delivering a gaming experience that is as captivating as it is rewarding.

Crystal Hall transports players to a lavish hall adorned with sparkling gems and mystical symbols. At the heart of this shimmering sanctuary lies a grand slot machine, adorned with dynamic symbols.

The gameplay in Crystal Hall blends classic elements with modern innovations. The Poker Chip symbol can be triggered when the Crystal symbol lands on reel three, introduces random Neon Frames to the reels, transforming them into high-paying symbols to boost player rewards.

Meanwhile, the Fortune Roll Feature comes alive when three Scatters land on reels two through four offer players Instant Prizes ranging from x5 to an impressive x200 their total bet.

Free Spins take the excitement to the next level. Players start with eight Free Spins when three Scatters appear, with the potential to retrigger additional spins throughout the feature. During Free Spins, the reels expand by one row, and Neon Frames that land become Sticky, staying in place until the feature ends.

As a final flourish – all Neon Frames transform into a high-paying symbol, creating thrilling moments of anticipation and massive win potential.

Games Ambassador at Play’n GO, Magnus Wallentin, said: “Crystal Hall represents the perfect fusion of classic slot gameplay and modern design. By combining popular slot mechanics with glittering jewel-themed aesthetics, we’ve created a game that has a broad appeal. We’re confident that players will love exploring the mysteries of Crystal Hall and chasing its glittering rewards.”

With its luxurious aesthetic, innovative features, and engaging gameplay, Crystal Hall is set to dazzle both seasoned slot fans and newcomers. Step into the legend and spin for your chance at glory.

The post Play’n GO unveils the dazzling Crystal Hall appeared first on European Gaming Industry News.

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BMM INNOVATION GROUP ACHIEVES RECORD FINANCIAL PERFORMANCE IN 2024, ADDS 123 NEW EMPLOYEES

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Company achieves highest revenue in 44-year history; expands employee base to serve emerging markets and enhance service levels

BMM Innovation Group (“BMM,” “BIG Group,” or “BIG”), a technology conglomerate focused on product compliance testing, training, and cybersecurity solutions for the global gaming industry, today announced record-breaking financial results for the fiscal year 2024. This milestone underscores the Company’s growth and commitment to innovation and service excellence.

In 2024, the BIG Group celebrated its eighth straight year of record growth, with a significant year-over-year revenue increase. The results were driven by strong demand for BMM Testlabs’ compliance testing services, the expansion of its global footprint, and growth in the Company’s BIG Cyber services and RG24seven Virtual Training business.

BIG Group Chairman, Chief Executive Officer, and President Martin Storm said, “Our record performance is a testament to our team’s talent and our customers’ trust. The addition of 123 new employees reflects our commitment to investing in people, innovation, and infrastructure to meet the global gaming industry’s needs.”

A Year of Growth and Investment

As part of its growth strategy, BIG expanded its global employee base by 22 percent year over year, adding new talent to support service delivery operations. The new team members, including mathematicians, testers, engineers, project managers, and quality assurance experts, will support the Company’s mission of transforming gambling industry performance.

Driving Innovation in Gaming Compliance

Through its BMM Testlabs business, BIG continues to lead in product testing and compliance by embracing emerging technologies such as AI and advanced automation. These innovations enable the Company to provide cutting-edge services that ensure the integrity, fairness, quality, and security of gaming products worldwide.

Storm added, “2024 was pivotal for BIG as we leveraged technology to set new industry standards. We look forward to growing in new markets like Brazil, UAE, Thailand, Nigeria, and Ghana, to name a few, and are now positioned to complete with GLI in all gaming markets for the first time in 23 years.”

Looking Ahead: A Focus on Cybersecurity and Responsible Gaming Training

BIG is positioned to continue growth in 2025 and beyond. BMM Testlabs will expand its global presence, enhance its technological capabilities, and strengthen partnerships with regulators, manufacturers, and operators worldwide.

For BIG Cyber services, BMM will fortify operators and suppliers with a robust suite of managed cybersecurity solutions. Through RG24seven Virtual Training, the Company will continue growing its learner base and adding new expert-led content on responsible gaming, anti-money laundering, and other important topics.

 

The post BMM INNOVATION GROUP ACHIEVES RECORD FINANCIAL PERFORMANCE IN 2024, ADDS 123 NEW EMPLOYEES appeared first on European Gaming Industry News.

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