Philippines has seen the biggest development in Asian gaming industry, Joe Pisano asserts

Jenny Ortiz July 17, 2024

Boasting more than 30 years of experience in global gaming technologies, SiGMA News put the spotlight on Joe Pisano, Founder and CEO of Jade Entertainment and Gaming Technologies. Pisano shared his insights on the development of the gaming sector in Asia highlighting the Philippines, current trends and innovations, and the outlook for the industry.

Asia has seen remarkable growth and diversification in the gaming industry over the past few decades. According to the data from Asian Gaming Market Reports of Niko Partners, a market research and consulting firm, the region is the most important for gaming in the world, representing a major opportunity for game developers and publishers, hardware and device makers, infrastructure providers, and investors. The report added that high consumer demand for games, esports, tournaments, and streaming, coupled with growing disposable income, improvements in infrastructure, and investment by multinational companies and country governments have set the stage for strong continued growth.

The evolution of gaming in Asia

“The Philippines boasts the most diverse gaming market in Asia.”
JOE PISANO

According to Pisano, the most significant development in Asian gaming has been in the Philippines. He explained, “If we go back 30 years, there were only really three casinos in all of Asia — Lisboa, Genting, and some of the early PAGCOR (Philippine and Amusement Gaming Corporation) casinos here in the Philippines.” Since then, Pisano said the industry has expanded dramatically.

“In Manila, we’ve seen the rise of integrated resorts (IRs),” Pisano noted. “We’ve witnessed growth in Macau and Singapore. The Philippines, however, boasts the most diverse gaming market in Asia, with online gaming, remote slots, integrated resorts, VIP clubs, and specialty games spread across the country.”

Emerging trends and innovations

When asked about current trends and innovations in the gaming sector, Pisano highlighted several key areas. “Anti-money laundering (AML) is going to take a very important role in the Philippines. We need to get out of the AML grey list to drive the industry further,” he emphasised.

Pisano also pointed out the shift towards cashless gaming, which enhances AML and Know Your Customer (KYC) processes. Additionally, he mentioned the rise of micro gaming, opinion betting, and the streaming of live slot machines. “We see some hubs here in the Philippines, and they appear to be very successful now,” he added.

Another critical issue Pisano highlighted is the need to eliminate illegal gambling because it “affects the country and the community, and we need to get rid of it,” he asserted.

Jade Entertainment and Gaming Technologies’ journey

Founded in 2009, Jade Entertainment and Gaming Technologies has experienced significant growth and evolution. Reflecting on the company’s achievements, Pisano stated, “The biggest achievement has been the ability to employ people. Even though it’s been 15 years, I feel we’re still in startup mode because we’re always evolving.”

Jade Entertainment and Gaming Technologies started as a land-based distributor and has since expanded into digital gaming, including sports betting and Random Number Generator (RNG) games. The company has also ventured into new markets, such as Sri Lanka, where it now operates fantasy cricket and a licenced sportsbook. “We’ve just been awarded a facility to be a slot machine remote hub by the Board of Investment of Sri Lanka,” Pisano revealed. Moreover, Jade describes itself as a ‘one stop shop’ for Asian casino operators seeking the latest-generation gaming-floor products and services.

Jade Sportsbet to resume operations

In an update to SiGMA News, Pisano shared that Jade Sportsbest will be reactivated on July 22. The development comes after a brief pause which began in May when the company notified its customers that Jade Sportsbet was undergoing “system maintenance” and that player transactions were temporarily unavailable. Jade is one of 22 PAGCOR-listed companies that are licenced to operate sports betting in the Philippines.

Addressing the temporary pause in operations of Jade Sportsbet, Pisano explained, “We were one of the early licensees. When we started, we had a security bond of PHP15 million (€2361,56). We need to update that to 25 million (€393,594), and now we’re in the process of raising the other PHP10 million (€157,437) to update it. We should be back online very soon.”

Outlook for gaming in Asia and impact of SiGMA events

Looking ahead, Pisano is optimistic about the future of gaming in Asia. He predicts significant growth in the Philippines, expecting it to become the second-largest market in Asia by mid-next year. “The current PAGCOR administration is very open, and it’s been through PAGCOR’s support that the industry has thrived over the past two years,” he remarked.

Pisano also sees potential in the Sri Lankan market, which he believes will grow tremendously in the coming years. “Sri Lanka is similar to Macau, being next to a very large population,” he explained.

SiGMA events have played a significant role in promoting the gaming industry in the Philippines. Pisano praised SiGMA’s contributions, noting, “SiGMA has embraced the Philippines and helped the economy by hosting the event [SIGMA Asia] here.”

Pisano said that as the industry continues to evolve, platforms like SiGMA provide valuable opportunities for networking, innovation, and growth, ensuring that the gaming sector in Asia remains vibrant and competitive.