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PAGCOR AGAIN SLASHES E-GAMES FEES, NOW AT 30%
The Philippine Amusement and Gaming Corporation (PAGCOR) said it has further reduced its fee rates for Electronic Games (E-Games) from 35% to 30% effective January 1, 2025 as part of efforts to combat illegal gaming operations.
PAGCOR Chairman and CEO Alejandro H. Tengco said rates for E-Games operated by integrated resorts were also reduced to a lower 25% to compensate for overhead expenses incurred by brick-and-mortar operators.
“By lowering our share rates, PAGCOR is creating a more favorable regulatory environment by encouraging unregistered online gaming operators to transition to the legal market,” Mr. Tengco said.
The fee rates being collected by the gaming regulator is based on a fixed percentage of the licensees’ gross gaming revenues or GGR.
The PAGCOR chief said the rate cuts will provide operators with more resources for marketing, while helping prevent voluntary closures and ensuring the sector’s continued growth and profitability.
Mr. Tengco said that, in fact, the gradual reduction in rates enabled the E-Games sector to surpass, as early as last September, its Php100 billion GGR target for the entire 2024.
Prior to the rate reductions which were initiated in 2023 during the current leadership, Mr. Tengco said PAGCOR was collecting fees of more than 50% of GGR from licensees which deterred expansions.
Prior to this month’s cuts, the most recent reduction in share rates for E-Games were made in April 2024 when the rates were lowered to 35%.
“The gradual reduction of share rates has significantly contributed to the growth of the E-Games sector, which has become a key driver of the local gaming industry,” he said.
He said that the policy change has also led to a significant increase in the number of licensed E-Games operators after a lot of former gray market players decided to join the mainstream by securing PAGCOR licenses.
To date, PAGCOR has issued 1,188 licenses for various on-site and online gaming offerings, a 13.57% increase from the 1,046 licenses issued in 2023.
The number of accredited gaming service providers also increased five-fold from 49 in 2023 to 174 in 2024.
“We expect this trend to continue, and we are optimistic that the best is yet to come for the country’s E-Games sector,” Mr. Tengco added.
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Sought-after software provider’s enhanced Premium release sees players step into the glow of the Far East as wild symbols and Quadspins combine for huge rewards
With Swintt having already opened the way to a world of wonder in the original Lucky Fortune Door, this month the award-winning software provider is back in action again with Lucky Fortune Door Wild – an exciting reboot that gives players even more ways to win!
Like its SwinttPremium predecessor, Lucky Fortune Door Wild is a five-reel slot that can be played with either five or ten paylines. Boasting an engaging Far East theme, the slot combines dragons, yin and yang pendants and coins with new golden ingot wilds that substitute for all other symbols.
The good news for fans of the original game is that the slot’s signature Quadspin mechanic again makes a welcome return. Activated whenever a win of at least 4x the bet is triggered, players will have the choice to either claim their current prize or gamble a portion of it to activate Quadspins.
Should they decide for the latter option, the gameboard will be divided into four separate reel sets to potentially quadruple the prizes on offer – and of course, with substitute wilds now also in play, the chances of players landing the slot’s maximum 6,000x win multiplier will be greatly increased.
As a further incentive, during Quadspins, an extra mystery symbol is also added to the reels. Should any instances of this icon appear on any of the four reel sets, they will be replaced by a random matching symbol to create additional payline wins and generate potentially huge prizes.
On top of this, should players continue to land wins of 4x their bet or greater during Quadspins, they can elect to remain in the feature for longer. With a maximum of 50 Quadspin available per set, the odds of them embarking on a prolonged winning streak are, therefore, much more likely.
To cap it off, all wins in Lucky Fortune Door Wild are paid from both left-to-right and right-to-left, meaning that no matter how aggressively players choose to play, fortune is only ever a spin away.
David Mann, Chief Commercial Officer at Swintt, said: “With Swintt’s signature Quadspin mechanic proving a hugely popular addition to our Premium line-up, we’re delighted to be giving the feature another outing in Lucky Fortune Door Wild. Offering the same great gameplay as the original release but now with added wilds, it’s sure to be a big hit with players and operators alike.”
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