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PAGCOR REVENUES HIT NEW RECORD HIGH OF PHP112 BILLION IN 2024

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The Philippine Amusement and Gaming Corporation (PAGCOR) today said its revenues hit a new record high of Php112 billion in 2024, nearly 41% more than the Php79 billion in the previous year, on the back of the sustained robust performance of the Electronic Games Sector.

Net operating income was at Php84.97 billion, or 51% higher than the year-ago level of Php56.38 billion, while net income after deducting its Php68.21 billion contributions to nation building was at Php16.77 billion.

“We are proud to announce that our 2024 financial performance is the best so far in the history of PAGCOR, and we thank our employees and stakeholders for making such achievement possible,” PAGCOR Chairman and CEO Alejandro H. Tengco said.

Prior to 2024, the highest gross operating revenue on record for PAGCOR was in 2019 – before the pandemic outbreak – when the state gaming firm generated Php81.98 billion.

Gaming operations and license fees remained the primary revenue sources, contributing Php97.52 billion, while other revenue streams including business income and service fees added Php14.18 billion.

Net income more than doubled from Php6.81 billion in 2023 to Php16.76 billion in 2024.

Mr. Tengco attributed the agency’s remarkable financial performance to the E-Games and E-Bingo sectors which contributed Php48.79 billion or 50.03% of the 2024 gaming revenues.

“The continuous growth of the E-Games sector is the key driver of PAGCOR’s record-breaking performance,” Mr. Tengco said. “It reflects the increasing popularity of digital gaming platforms and the transformative impact of technology on the industry.”

The licensed casino sector chipped in 33.91% or Php33.07 billion to PAGCOR’s 2024 revenue pie while the agency’s Casino Filipino venues contributed 12.99% or Php12.67 billion.

Although the Philippine Offshore Gaming Operations (POGOs) ceased in December 2024 on orders of the President, the sector still contributed Php2.99 billion, or 3.07%, to gaming revenues.

With bigger revenues, PAGCOR also significantly increased its contributions to nation building (CNB) by 37.61% to Php68.20 billion from Php49.56 billion in 2023.

“Our 2024 revenues allowed us to support more government programs and other nation-building initiatives,” Mr. Tengco said.

Remittances to the National Treasury reached Php46.32 billion which was 33.39% higher than the 2023 remittance of Php34.72 billion.

PAGCOR also remitted Php4.87 billion in franchise taxes and Php1.09 billion in corporate income taxes to the Bureau of Internal Revenue.

The Philippine Sports Commission received Php2.31 billion, while Php91.88 million was allocated as cash incentives for athletes and coaches who won in international competitions including the 2024 Paris Olympic and Paralympic Games.

PAGCOR also released Php12.37 billion to fund socio-civic programs under the Office of the President.

Other mandated beneficiaries of PAGCOR’s 2024 revenues included cities hosting Casino Filipino branches which received Php698.60 million; the Board of Claims under the Department of Justice which was allocated Php178.80 million; and the Renewable Energy Trust Fund, which received Php248.01 million.

PAGCOR had surpassed the Php100 billion revenue mark only once, in 2018, when it recorded Php104.12 billion but it included a one-time sale of property worth Php32.71 billion.

The post PAGCOR REVENUES HIT NEW RECORD HIGH OF PHP112 BILLION IN 2024 appeared first on European Gaming Industry News.

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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Podium’s Racing Data to Power Dabble’s Social-led Betting Service in the UK

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Podium, a leading global provider of trusted sports content and data solutions, is working with Dabble to help bring its socially driven betting experience to UK audiences.

Dabble combines traditional betting functionality with a social media-style interface to offer the next generation of racing fans a more interactive way to connect and share. The app-based platform is integrated with Betmakers technology, with all UK horse and greyhound racing data delivered by Podium.

Ian Houghton, Commercial Director at Podium says: “At Podium, we are always excited when we see innovation in the industry, so we are delighted to play a part of Dabble’s expansion into the UK market, particularly at a time when the racing industry needs to retain a younger audience. We look forward to exploring how Podium’s services can continue to support Dabble’s global ambitions.”

The collaboration, which has been in place since the summer, marks an evolution in how racing data is used and experienced, with Podium delivering UK racing content via Betmakers technology to help power Dabble’s social platform.

Tom Rundle, CEO of Dabble, says: “Dabble’s move into the UK is a natural fit. We’re a challenger brand with an exciting product that we built ourselves from scratch. We’re already seeing that resonate with the UK audience. Yes, you can get a bet on, but essentially, we are placing ourselves as being community driven. We’re creating a richer experience at every touch point.”

The UK is Dabble’s third international market, following rapid growth after launching in its native Australia.

The post Podium’s Racing Data to Power Dabble’s Social-led Betting Service in the UK appeared first on European Gaming Industry News.

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Football Stats Startup Challenges Multi-Million Company With Free Publication Of Blueprints

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A little company from Poland does something very odd for the competitive market — and thinks that one man’s dream can ignite a revolution in how we treat amateur football.

Prawn, the fresh startup from Eastern Europe with the international team, has announced its first hardware solution for recording football matches. But it is not on the shelf of the local store and does not pop out on the web page as an annoying ad. The users can literally obtain blueprints free of charge and craft it themselves.

Such an unusual decision is aimed at challenging the market that has been ignored and omitted by the big sports tech companies for years or even decades. Amateur football is miles and generations behind the professionals in the way players can assess their performance and improve — that is what Prawn dared to change.

They have already entered the market with the PrawnApp[a] that provides analytics for amateurs who record their match performance and upload the video. Powered by an AI, this system gives some key figures — goals, passes, dribbling attempts etc. — and, which is important, some tips for improvement. The service can be also used as a platform for creating highlights thanks to its ability to combine footage from different angles. The app is easy to try: each user is granted one month free of charge.

In this field Prawn faces some obvious competition. Other companies have released their own vision of prone holders for recording matches which is not much of a difference in functionality to what the Polish startup gives away for free on their Instagram page for following and tagging a friend. But there is a difference — the price tag.

Prawn developers, passionate football players and fans themselves, know exactly what the amateur footballers want — affordable tech for capturing their games and great service for analytics and improvement. That is exactly what PRAWNER[b] (that is how the phone holder is labeled) and PrawnApp are about.

The company has already proven that its ideas resonate with the players and sports industry: the initiative to create a global map of available pitches was mentioned 152 times in U.S., European and even Indian media, and their web page was visited by thousands of people within a couple of weeks. The Polish startup promotes its vision with a simple principle: those who love football and want to be better at it should not pay more, but play more.

The post Football Stats Startup Challenges Multi-Million Company With Free Publication Of Blueprints appeared first on European Gaming Industry News.

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Endorphina Goes Viral With Baywatch-inspired SBC Lisbon Posters

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The leading slot game provider, Endorphina, continues to make waves in the iGaming industry, announcing its presence at the highly anticipated SBC Lisbon with a big splash. From September 16-18, Endorphina’s stand, number B590, will bring the ultimate beach escape at the Feira Internacional de Lisboa & Meo Arena. 

To further tease its presence at the upcoming beach-themed booth at SBC Summit Lisbon, Endorphina created a campaign inspired by the popular TV show Baywatch. The company organized a special photoshoot with its employees dressed as lifeguards patrolling the beaches of Lisbon. In addition, Endorphina designed special posters that play with the aesthetics of 80s and 90s posters and VHS tapes. 

This announcement from Endorphina immediately captured the attention of the iGaming world, with the posts receiving 5x more engagement than usual on LinkedIn. The photoshoot featured employees from various departments, including Kirill Miroshnichenko, CCO; Irina Veselkova, Marketing Strategy Coordinator; Dejan Vranjanin, Head of Account Development; Mihail Cojocaru, Team Lead Client Success Management; Marie Eliseeva, Account Manager; and Svetlana MD Masud, Partnership Manager. 

This campaign teases Endorphina’s booth at SBC Summit Lisbon, which will be themed to bring the ultimate beach paradise straight to Portugal. The company promises unique activities and a memorable experience for visitors, inviting them to visit booth B590, meet the Endorphina team, and immerse themselves in the beach-themed atmosphere.

The post Endorphina Goes Viral With Baywatch-inspired SBC Lisbon Posters appeared first on European Gaming Industry News.

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