Staggering 50% revenue drop in first quarter for PAGCOR

Philippine Senator Sherwin Gatchalian has urged the Bureau of Immigration (BI) to step up efforts in preventing foreigners engaged in illegal Philippine Offshore Gaming Operators (POGOs) from entering the country and setting up illicit operations. Gatchalian underscored the importance of the BI acting as effective gatekeepers against criminal elements exploiting the Philippines for illegal activities. 

The senator's call comes amidst growing concerns over -related crimes, including human trafficking. According to a report from the Philippine National Police (PNP), over 4,000 individuals were victimized in the first half of last year alone. Gatchalian emphasized the need for stringent measures to combat these criminal activities and protect the country's citizens. 

In response to these issues, Gatchalian has proposed a resolution to permanently ban illegal POGO operations, highlighting their associations with criminal elements. Despite ongoing licensing by the Philippine Amusement and Gaming Corp. (PAGCOR), Gatchalian argued for the cessation of such activities to safeguard the country's integrity. 

While some politicians and PAGCOR continue to support offshore gaming due to the revenue it generates and the jobs it creates, Gatchalian remained firm in his stance against illegal POGOs. He stressed the importance of prioritizing national security and combating organized crime over financial gains. 

Earlier this week, the Chinese Embassy in Manila its endorsement of the Philippine government efforts to address the underlying issues associated with POGOs. In a statement, the Chinese Embassy said that gambling in any form is illegal according to Chinese law. It also reiterated the crackdown on Chinese nationals involved in gambling businesses abroad, emphasizing the importance of abiding by local laws and regulations. 

Meanwhile, has announced plans to privatise its 45 casinos by the third quarter of 2025, anticipating significant revenue generation. This strategic move aims to offset state losses resulting from unpaid dues totalling about PHP2.2 billion (€35.6 million) from closed POGO companies, indicating the government's commitment to recouping losses while ensuring regulatory compliance. 

Upcoming SiGMA event: SiGMA Asia 2024, 3 – 5 June. Find all the details .

, a casino operator in Cambodia and Vietnam, has reported a significant uptick in earnings during the first quarter of 2024. The company's quarterly report indicates a steady increase in operational performance, with earnings nearly reaching pre-COVID levels. 

Donaco highlights that visitation numbers have stabilized, reaching levels consistent with the previous quarter. This stabilization reflects the gradual return of tourism in and Vietnam to pre-pandemic levels, signalling positive momentum for the company. 

The group achieved strong financial results, reporting a group net revenue of AUD12.66 million (€7.7 million) and EBITDA of AUD8.39 million (€5 million), marking a remarkable 66 percent increase over the last quarter. The quarterly report underscores the robust performance of Donaco's key operations. 

Donaco's DNA Star Vegas operation, situated on the Cambodia-Thailand border, recorded substantial growth, with net revenue reaching AUD8.82 million (€5.3 million) and property-level EBITDA of AUD6.63 million (€4 million). The implementation of a membership loyalty program in January 2024 contributed to the operation's success. 

Similarly, Donaco's Vietnam operation, Aristo International Hotel (Aristo), experienced revenue and EBITDA growth driven by stabilized tourism, particularly from China. Aristo reported net revenue of AUD3.84 million (€5.3 million), reflecting a 6.4% increase from the previous quarter. 

The company maintains a strong financial position, ending the period with a robust cash position of AUD28.99 million (€17.6 million), marking a 15.4% increase from the previous quarter. Donaco emphasizes its focus on stringent financial management to support sustainable growth. 

In its quarterly report, Donaco's Non-Executive Chairman, Porntat Amatavivadhana, expressed confidence in the company's outlook, citing continuous improvement across all segments. Additionally, the company anticipates significant growth post-2025, with the development of the new Sapa airport in Lao Cai expected to drive a substantial increase in visitation. 

Upcoming SiGMA event: SiGMA Asia 2024, 3 – 5 June. Find all the details .

The sports betting compliance industry has experienced some M&A activity, with US Integrity and Odds On Compliance merging to form a new entity known as Integrity Compliance 360 (IC360). The merger was announced by sports tech venture capital fund, SeventySix Capital, earlier this week. By combining its resources and expertise, IC360 will enhance its offer with a comprehensive suite of services.

IC360 will offer a combination of integrity monitoring services, compliance advising, and products to serve clients from both companies. This includes t and international clients in Europe and Brazil. One of the services offered by IC360 recently flagged illicit betting activity With its broader client base IC360 is on its way to becoming a leading player in the industry.

Despite the merger, it will be business as usual for clients of US Integrity and Odds On Compliance. The original products of each firm will continue without interruption, now unified under the IC360 brand. This includes the Integrity Monitoring dashboard, PlayBook AI, and ProhiBet.

How are things going to change with this merger? For example, the collaboration on ProhiBet, a tool that monitors sports betting compliance for athletes and team personnel, is most definitely a sign of more innovative solutions to come that will shape the industry standards, particularly around transparency, accountability and ethical standards.

The merger of US Integrity and Odds On Compliance was initially announced last October, following the collaboration on ProhiBet, a tool that monitors sports betting compliance for athletes and other team personnel.

IC360 aims to be a one-stop shop of regulatory technology solutions and compliance expertise for the rapidly evolving sports betting and gaming industry. Wayne Kimmel, the managing partner of SeventySix Capital, stated that the merger is a significant event in the evolution of the sports, media, and entertainment asset class. He explained that IC360’s commitment to ensuring transparency, accountability, and ethical practices across the global sports betting and gaming industry, which is worth hundreds of billions of dollars,

The leadership of IC360 will comprise former executives from US Integrity and Odds On Compliance. Matt Holt, (photo above on left), the former CEO of US Integrity, will lead IC360 as CEO, while Eric Frank, (photo above on right) the former CEO of Odds On Compliance, will serve as President. Scott Sadin, (photo above centre), who previously served as COO of US Integrity, will take over as COO of IC360. Kimmel, the original investor in both companies, will serve on IC360’s board of directors.

The BIS SiGMA Americas kicked off yesterday with a panel discussion led by several prominent women in the gaming sector. Held at the Hilton Morumbi, and hosted by Lilly Douse, the panel discussion delved into several crucial aspects of gender diversity and inclusion in the gaming industry. Panellists included Heloisa Passos, Founder and CEO at Trexx, Fabiola Jaeger, CEO at Caleta Gaming, Liudmila Schirmer, Affiliate Manager at Booming Games, Jennifer Innes, CEO at BettingJobs, Antonella Lorenzetti, Head of Marketing at Nonocosmos GmbH, Luciana Hendrich, Partner and Lawyer at Hendrich Advocates, Barbara Teles, Lawyer at Rei do Pitaco, Olivia Panhoca, Head of Operations and Affiliation for Latam at Novibet, Helen Walton, CCO at G Games, Frances Kintana, HR Director at Blaze, and Carla Souter, Senior Consultant at BettingJobs.

Firstly, there was a focus on the strategies to attract and retain female talent in technology-related roles, especially in regions like the UK, Spain, and India. Flexible working hours, unlimited holidays, and creating a supportive company culture were highlighted as effective retention measures.

The BIS SiGMA Americas conference takes place at the Transamerica expo centre between 24th and 25th.

Initiatives to support women in gaming, such as graduate programs, mentorship schemes, and training initiatives, were discussed. These programs aim to introduce more women to the gaming industry and provide them with the necessary support for career advancement.

The importance of creating inclusive gaming content without resorting to gender stereotypes was emphasized. Understanding the preferences and behavior of female gamers through data analysis is crucial for designing games and platforms that cater to their needs.

Additionally, there was a discussion on inclusion policies and best practices, with an emphasis on the importance of awareness and understanding of cultural differences within organisations. The need for safe spaces where diverse perspectives are valued, and employees feel empowered to speak up was highlighted as a key aspect of fostering inclusion.

Overall, the panelists shared valuable insights and experiences aimed at promoting gender diversity and inclusivity in the gaming industry, underscoring the importance of collaborative efforts in creating a more inclusive and supportive environment for all.

Here were some of the main points that emerged:

Bringing Value to the Table 

Emphasize the importance of learning from every outcome, whether positive or negative. Acknowledge that growth can result from both personal improvement and recognizing when an environment may not be suitable.

Staying True to Yourself

Highlight the significance of embracing one's unique qualities and not trying to conform to stereotypes or mimic others, especially in leadership roles.

Developing Skills

Encourage women to invest in developing soft skills, such as communication, leadership, and networking, which are invaluable in any industry.

Seeking Mentorship

Stress the value of seeking mentorship and building alliances, as exemplified by personal experiences of mentorship leading to successful partnerships and career advancements.

Overcoming Challenges 

Discuss various challenges faced by women in the industry, including fundraising, biases in hiring and salary, and balancing work with family responsibilities. Share strategies for overcoming these obstacles, such as believing in oneself, embracing change, and seeking support networks.

Fostering Inclusivity 

Advocate for creating inclusive environments where diverse voices are welcomed, ideas are encouraged, and opportunities are accessible to all, regardless of gender or nationality. Highlight the importance of organisations promoting inclusivity through hiring practices, benefits packages, and supportive networks.

Supportive Networks and Associations

Highlight the role of associations and networks, such as the Associação de Mulheres da Indústria do Gaming, in providing mentorship, support, and opportunities for women in the gaming industry. Encourage active participation and engagement within these communities.