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PAGCOR revenues surge 35.6% in H1 2023; contribution to nation-building up by 48.50%
THE Philippine Amusement and Gaming Corporation (PAGCOR) continued to surpass its revenue achievements after it recorded P36.21 billion total income in the first half of 2023 – a 35.64% increment from its year-on-year figures of P26.70 billion.
PAGCOR’s revenues for the first half of 2023 was just P2.59 billion or 6.68% short of its pre-pandemic output of P38.81 billion in 2019.
According to PAGCOR Chairman and CEO Alejandro Tengco, with the agency’s consistent upward revenue trend, it is highly possible for PAGCOR to reach or even surpass its pre-pandemic income by the end of 2023.
“PAGCOR will certainly ride on the tide of our country’s economic growth. As economic activities reach pre-pandemic levels, we are optimistic that we can sustain the gaming industry’s growth momentum as we fortify our regulatory policies to attract more investors in the Philippines,” he said.
PAGCOR’s January to June revenues showed that income from gaming operations and regulatory fees from licensees – which amounted to P34.12 billion – remained as the biggest contributor to the agency’s remarkable revenue performance. Said amount was 38.03% higher compared to the P24.72 billion earnings in the previous year.
The higher income from gaming operations during the first semester of this year was driven by the increase in total industry gross gaming revenue (GGR). From last year’s first semester record of P91.72 billion, January to June 2023 GGR amounted to P136.37 billion – which was 48.68% higher than 2022 figures.
“With the finetuning of our regulatory policies, we believe that the Philippines will become a more attractive gaming and entertainment hub both for investors and guests,” Tengco furthered.
The PAGCOR chief added that as one of the biggest contributors to national coffers, the state-run gaming firm is not dependent on any government appropriation or subsidy.
“It is in fact the other way around as PAGCOR remits close to 70% of its revenues to the government in the form of direct remittances to the national coffers and through its other mandated contributions,” he stressed.
Because of PAGCOR’s remarkable revenue performance during the first half of the year, its contribution to nation building also rose by 48.50% — from P15.23 billion in the first half of 2022 to P22.62 billion this year.
Of the P22.62 billion contributions to nation building, P16.20 billion went directly to the National Treasury as 50% government share. Meanwhile, 50% of PAGCOR’s first semester remittances to the national coffers or P8 billion will be transferred to the Philippine Health Insurance Corporation to fund the Universal Healthcare benefits.
Aside from its contributions to the National Treasury, PAGCOR allocated P3.61 billion for the government’s socio-civic programs. A total of P1.70 billion was likewise remitted to the Bureau of Internal Revenue as 5% franchise tax, while the Board of Claims under the Department of Justice received P19.92 million.
The state-run gaming and regulatory firm likewise remitted P810.47 million to the Philippine Sports Commission (PSC). An additional P17.97 million was released to the PSC as Sports Incentives and Benefits for national athletes and coaches who won in international competitions. Meanwhile, cities hosting PAGCOR’s Casino Filipino branches also received P225.86 million.
Tengco cited that with PAGCOR’s remarkable performance in the first half of the year, the agency is projecting at least P272.74 billion revenues by the end of 2023.
“We have already hit approximately P136.37 billion Gross Gaming Revenue or GGR in the first semester. With the favorable business environment that we have right now, we are hopeful that we can reach or even surpass our revenue targets and contribute more to nation-building.”
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Play’n GO invites players underwater in Bubblin’ Riches, a 6×4 slot where golden coins and greedy fish collide for submerged surprises.
Set in a playful underwater reef, Bubblin’ Riches brings a burst of colour and charm to the reels. At the heart of the action is a bloated Goldfish with a hoarding habit – every Coin Scatter that lands could feed its fortune, or set off a surprise payout. As part of Play’n GO’s expanding roster of quirky, character-led games, this release turns Hold & Spin mechanics into something far more unpredictable, with a visual flair that brings every coin flip to life.
Bubblin’ Riches thrives on suspense and spectacle. Players can trigger Lock’n Gold by landing six Coin Scatters – launching a sticky respin feature where coins flip to reveal multipliers up to 10x, and a full screen secures an instant 500x win. Meanwhile, the towering coin stack above the reels is more than just a visual gag: it can burst at any moment, showering players with jackpots up to 1,000x. For those chasing longevity, Reward Spins introduce sticky Wild Multipliers and up to 65 spins – all anchored by a spinning prize wheel.
Fans of whimsical, visual-forward slots like Hugo Carts or Nyjah Huston – Skate for Gold will find plenty to love in Bubblin’ Riches. Its character-first design and surprise-based mechanics align with Play’n GO’s wider focus on entertainment, while the bubbling tension of the Goldfish jackpot stack introduces a fresh twist to classic features.
Magnus Wallentin, Games Ambassador at Play’n GO, said: “Bubblin’ Riches builds anticipation in every spin, with a charming visual twist. It’s a playful example of how we blend innovative mechanics with entertainment value.”
This light-hearted slot blends humour, excitement, and vivid visuals – perfect for players looking to dip into something refreshingly different.
The post Bubblin’ Riches surfaces with stacks of coin-filled fun appeared first on European Gaming Industry News.
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Yaspa unveils new brand identity as payments and identity fintech accelerates global growth
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Yaspa, the award-winning fintech specialising in iGaming payments and identity solutions, has unveiled a new brand identity designed to reflect its growth and maturity as it expands into new markets.
The rebrand marks a significant milestone in Yaspa’s evolution from an early-stage fintech to a global payments intelligence platform. The new identity builds on Yaspa’s mission to make payments more intelligent, helping operators and merchants connect with their customers in real time through trusted, data-driven experiences.
The refreshed brand introduces a cleaner, more contemporary visual identity centred around simplicity and human connection. Its updated logo, colour palette and design system have been crafted to convey transparency, confidence and momentum – emphasising Yaspa’s pioneering approach to innovation and collaboration.
The new brand launch coincides with a period of sustained growth for Yaspa, which has expanded from 15 to 70 employees in the past 18 months and recently announced a $12m investment round led by Discerning Capital. The company is now accelerating international expansion with a new US entity based in Atlanta, Georgia. Yaspa also announced the opening of a tech hub in Leeds, UK, in August.
Kate Marsden, Chief Marketing Officer at Yaspa, said: “Our new brand is a statement of intent. It reflects who we’ve become – a confident, connected and truly intelligent business that’s growing fast and taking our technology to new markets. We have created an identity that captures both the strength of our product and the clarity of our purpose – to help businesses make better decisions through smarter payments.
“Payments can be complex, but our goal is to make them feel effortless. Every element of our new look has been designed to communicate that sense of ease and intelligence. The identity is modern and approachable, because trust and transparency sit at the heart of what we do.
“As we scale into new regions, we want a brand that travels well and one that feels as relevant in Las Vegas as it does in London. The rebrand is a fresh chapter for Yaspa, but our focus remains the same: making instant payments personal.”
The post Yaspa unveils new brand identity as payments and identity fintech accelerates global growth appeared first on European Gaming Industry News.
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Pioneering platform solutions provider teams up with innovative software studio to bring operators an all-new line-up of slots, casual games and multiplier titles
Elantil, the ground-breaking technology company that’s redefining the future of the industry with its strategic iGaming backbone, has announced it has agreed a new partnership with G-Games that will add next-gen content to its online marketplace.
A leading provider of both classic and casual titles, G-Games brings out at least 40 new releases each year and specialises in content that has been heavily tailored to support local market needs – including a range of high-payout, low-stakes slots that are built specifically for German players.
Always a market innovator, G-Games is currently hard at work developing a new line-up of multiplayer slots that are designed to bridge the gap between traditional casino play and video game-style entertainment, empowering partners to engage with the next generation of customers.
With this presenting a major opportunity for operators to tap into the Twitch slots, G-Games will undoubtedly be a popular addition to Elantil’s Marketplace for all clients looking to future-proof their line-ups and increase market share.
Of course, being an Elantil partnership, marketplace operators will be able to reach out to the provider directly to form their own custom contracts, with this allowing them to save on costs and create agreements that support their unique business needs, without Elantil dictating the terms.
John Debono, Chief Technical Officer at Elantil, said: “With Elantil’s Marketplace redefining the relationship between operators and suppliers, it’s imperative that we continue to integrate with forward-thinking companies that can offer something new. G-Games are definitely one such provider, and we’re thrilled to now be able to offer their next-gen content to all Elantiloperators.”
Helen Walton, Chief Commercial Officer at G-Games, said: “At G-Games, we pride ourselves on providing flexible partnerships that are always sprinkled with a little G-Games magic. With our content now being available via Elantil’s Marketplace, we’ll be able to supply even more operators with a truly bespoke service that can help them achieve the results they’re looking for.”
The post Elantil partners with G-Games to add next-gen content to online marketplace appeared first on European Gaming Industry News.
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