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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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Kambi Group plc repurchase of shares during 16 April – 22 April 2025

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Kambi Group plc (“Kambi”) has during the period 16 April to 22 April 2025 (the “Buyback Period”) repurchased a total of 36,500 ordinary shares (ISIN: MT0000780107) as part of the share buyback programme, within the mandate approved at the Extraordinary General Meeting on 20 June 2024 (the “Programme”).

The objective of the Programme is to achieve added value for Kambi’s shareholders and to give the Board increased flexibility with Kambi’s capital structure by reducing the capital. The Programme is being carried out in accordance with the Maltese Companies Act, EU Market Abuse Regulation No 596/2014 (“MAR”) and other applicable rules.

During the Buyback Period, Kambi repurchased a total of 36,500 ordinary shares at a volume-weighted average price of 115.13 SEK. From the beginning of the Programme, which started on 6 November 2024, until and including 22 April 2025, Kambi has repurchased a total of 1,252,000 ordinary shares at a volume-weighted average price of 108.82 SEK per share.

During the Buyback Period, Kambi has repurchased shares as follows:

Date Aggregated daily
volume (number
of ordinary shares)
Weighted average
share price
per day (SEK)
Total daily
transaction
value (SEK)
16 April 2025 14,000 113.84 1,593,739
17 April 2025 14,000 116.46 1,630,402
22 April 2025 8,500 115.08 978,193

All acquisitions have been carried out on Nasdaq First North Growth Market in Stockholm by Carnegie Investment Bank AB on behalf of Kambi. Following the acquisitions and as of 22 April 2025, Kambi’s holding of its own shares amounted to 1,252,000 and the total number of issued shares in Kambi is 29,903,619 ordinary shares. Under the Programme Kambi is authorised to repurchase a maximum of 3,127,830 ordinary shares, up to a maximum amount of €12.0 million.

A full breakdown of all transactions carried out during the Buyback Period is attached to this announcement.

Information on the Programme is available on Kambi’s website, kambi.com/investors/share-information/

The post Kambi Group plc repurchase of shares during 16 April – 22 April 2025 appeared first on European Gaming Industry News.

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BMM TESTLABS EXPANDS ITS REACH AND NOW TESTS AND CERTIFIES GAMING PRODUCTS IN THE UNITED ARAB EMIRATES

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BMM Testlabs (“BMM” or “the Company”), the world’s original gaming test lab renowned for exceptional product compliance and certification services, today announced its official approval to test gaming products for the United Arab Emirates’ licensed lottery – The UAE Lottery – and commercial gaming program.

This approval comes from the General Commercial Gaming Regulatory Authority (“GCGRA”), which holds exclusive jurisdiction to regulate, license, and supervise all commercial gaming activities and facilities, including lottery, internet gaming, sports wagering, and land-based gaming facilities. BMM’s certification falls under the ‘Independent Testing Laboratories’ category.

BMM Testlabs’ Chief Executive Officer Martin Storm said, “We are excited and deeply honored that the GCGRA has entrusted BMM Testlabs with the responsibility of testing products for their new lottery, land-based, and digital gaming program, knowing that we’ll do so with the highest levels of impartiality, technical expertise, transparency, efficiency, and, most of all, integrity.”

BMM Testlabs brings 44 years of global leadership in product compliance across regulated markets and is trusted by games, systems, and lottery manufacturers, suppliers, developers, and regulators worldwide.

In addition to product compliance testing, BMM Testlabs’ BIG Cyber provides end-to-end cybersecurity protection solutions, including penetration testing, vulnerability assessments, PCI:DSS evaluations, and managed security services. Through RG24seven Virtual Training, BMM also offers compliance-grade virtual training on responsible gaming, anti-money laundering, and other important topics – presented by industry experts and available in multiple languages.

 

The post BMM TESTLABS EXPANDS ITS REACH AND NOW TESTS AND CERTIFIES GAMING PRODUCTS IN THE UNITED ARAB EMIRATES appeared first on European Gaming Industry News.

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Paysecure partners with DECTA to enhance global payment capabilities

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Paysecure, a trusted payment orchestration platform, is proud to announce its latest partnership with DECTA, an international payment processing company.

This collaboration reflects Paysecure’s ongoing commitment to offering merchants access to a diverse, competitive, and high-performing payment ecosystem.

The collaboration with DECTA is a key step in Paysecure’s ongoing strategy to deliver greater value to merchants worldwide by ensuring they benefit from improved approval rates, competitive pricing models, and efficient payment flows. For Paysecure, it’s another milestone in building a curated network of top-tier PSPs, enabling its clients access to
the most reliable and cost-effective payment partners.

“We are excited to be working with DECTA, a proven provider of payment services to the European markets. DECTA brings a wealth of experience and capability to support Paysecure in its mission to bring a wide choice of payment providers and methods to our customers. Customers can direct transactions to DECTA via Paysecure’s orchestration platform providing a competitive, secure and reliable partner for their payment processing requirements.” — Mike Peplow, Chief Strategy Officer and Head of Partnerships at Paysecure 

“At DECTA, we’re always looking for ways to enhance payment experiences for businesses worldwide. Partnering with Paysecure allows us to combine our expertise and technology to deliver more seamless, efficient, and scalable payment solutions for B2B merchants. Together, we’re creating new opportunities for growth and innovation, and we’re excited about the impact this collaboration will have on our partners and their customers.” — Scott Dawson, CEO at DECTA 

Through this partnership, Paysecure continues its mission to simplify payments and empower merchants with choice, flexibility, and performance, through a single integration point. By working with established providers like DECTA, Paysecure enhances its orchestration capabilities, driving smarter routing, faster settlements, and global scalability for its clients.

 

The post Paysecure partners with DECTA to enhance global payment capabilities appeared first on European Gaming Industry News.

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