WeAreGame Nominated for Two AffPapa iGaming Awards 2023

Okada Manila, operated by , Leisure & Entertainment Inc (TRLEI), experienced a substantial decline in gross gaming revenue (GGR) during the first quarter of 2024, primarily attributed to a significant downturn in the VIP segment. The GGR plummeted to PHP8.77 billion (€144.1 million), marking a 24% decrease from PHP11.57 billion (€190 million) in the same period of 2023.  

Gross gaming revenue from VIP table games at Okada Manila suffered a steep decline of 42.61% year-on-year, totalling just PHP2.58 billion ($45.26 million) for Q1 2024. This sharp downturn contrasts starkly with the PHP4.5 billion ($79 million) recorded in Q1 2023, significantly impacting the property's overall GGR performance.  

Despite the general decline in GGR, gaming machines emerged as the top performer for Okada Manila during the first quarter of 2024. Generating PHP3.23 billion (€53 million) in revenue, albeit experiencing a 17% yearly fall, gaming machines showcased resilience amidst challenging market conditions.  

The mass market table games segment at Okada Manila witnessed a 6% yearly drop in GGR, totalling PHP2.96 billion (€48.6 million) for Q1 2024. Additionally, mass online table volume experienced a significant decline of 68.5% year-on-year, contributing to the overall decrease in gaming revenue.  

The decline in gaming revenue led to an overall decrease in total revenue by 22.7%, amounting to PHP9.75 billion (€160 million) for the first quarter of 2024. Furthermore, adjusted segment EBITDA dropped by nearly 30%, reaching PHP2.33 billion (€38 million), reflecting the challenges faced by Okada Manila amidst evolving market dynamics.  

Despite the revenue challenges, Okada Manila maintained a strong hotel occupancy rate of 83.2% and received 1.45 million visitors during the first quarter of 2024. While non-gaming revenue experienced a moderate decline of 6.4% compared to Q1 2023, the property exhibited resilience in managing operational aspects amidst market fluctuations.  

Earlier this year, TRLEI  the collaboration with Dennis Uy’s PH Travel and Leisure Holdings Corp. This partnership secured a majority stake in the operating entities of the Mactan project, the Emerald Bay Resort.  

Upcoming SiGMA event: BIS SiGMA Americas 2024, find all the details . 

Newport World Resorts, an integrated resort in the Philippines, has achieved a new yearly high in gross gaming revenue (GGR) for the fiscal year 2023. The resort surpassed PHP34.2 billion (€561.3 million) in GGR, marking a significant milestone in its financial performance.  

This  followed a 90.3% uptick in GGR in 2022. Newport World Resorts was formerly known as Resorts World Manila.  

Non-gaming sector flourishes, up by 40%  

In addition to its remarkable gaming revenue, Newport World Resorts experienced substantial growth in its non-gaming income segment. Alliance Global Group (AGI), the parent company of Newport World Resorts, revealed that non-gaming income surged by an impressive 40% annually, reaching PHP7.4 billion (€121 million).  

Record revenue growth across diverse business segments  

Under the stewardship of billionaire tycoon Andrew Tan, AGI saw a record-breaking year in terms of revenue generation across its diversified business portfolio. The conglomerate witnessed a remarkable 20% increase in revenue, totalling PHP30.3 billion (€497 million) for the fiscal year 2023.  

Optimistic outlook for 2024    

As the global economy shows signs of recovery and consumer spending rebounds, AGI's CEO Kevin Tan expressed optimism for the year ahead. Anticipating favourable policy rate cuts and easing inflation, Tan foresees improved economic conditions, stimulating demand across various sectors including housing, tourism, and leisure activities.   

Despite encountering increasing expenses and market pressures, Newport World Resorts demonstrated resilience by achieving an 8% year-on-year growth in EBITDA, reaching PHP8.2 billion (€134 million). The integrated resort also reported a substantial 89% growth in net profit, reflecting the effectiveness of its strategic initiatives amidst challenging market conditions.  

Philippines GGR target  

In March, Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Alejandro Tengco  the agency projects sustained growth and international prominence for the Philippines’ gaming landscape, eyeing its emergence as a premier gaming jurisdiction in the Asia-Pacific region.     

Upcoming SiGMA event: BIS SiGMA Americas 2024, find all the details .

 In a recent plenary session of the Legislative Assembly, Macau's Chief Executive, Ho Iat Seng, conveyed his optimistic projection that  would see a substantial influx of visitors, surpassing the 30 million mark for the current year. He detailed two scenarios based on average daily passenger numbers, forecasting a potential visitor count of nearly 36 million if figures remain above 100,000 per day, and between 33 to 34 million if they drop to around 80,000. 

Last year, Macau welcomed over 28 million visitors, marking a significant figure despite challenges. Comparatively, in 2019, the region experienced a peak of 39.4 million visitor arrivals, underscoring its allure as a premier tourist destination. 

During the discussions in the Legislative Assembly, concerns arose regarding potential shifts in China's individual visit scheme (IVS), which could profoundly impact Macau's tourism landscape. Lawmakers voiced apprehensions about the expansion of cities eligible for IVS, foreseeing a potential surge in visitor arrivals to Macau. 

In response to these concerns, Chief Executive Ho referenced statements by Xia Baolong, director of the Hong Kong and Macau Affairs Office of the State Council, assuring that new measures would be progressively implemented. He urged stakeholders to maintain confidence in the face of potential changes. 

Highlighting the unwavering support from the central government, Ho emphasized ongoing efforts to bolster Macau's tourism sector. He cited forthcoming measures and collaborations aimed at enhancing visitor experiences and sustaining tourism growth. 

One such initiative is the  between Macau and Hengqin for tour groups. Ho expressed confidence in the scheme's potential to attract more tour groups, fostering deeper integration between the two regions and amplifying Macau's appeal as a premier tourist destination. 

Last month, Macau  a resurgence in its gross gaming revenue (GGR), amounting to MOP19.50 billion (€2.24 billion), marking a remarkable 49-month high. 

Upcoming SiGMA event: BIS SiGMA Americas 2024, find all the details .

During the afternoon of 16 April, the Netherlands’ House of Representatives made a significant decision that would reshape The representatives voted in favour of and “high-risk” online gambling, which includes slots. This move signalled a majority consensus for prohibiting all forms of targeted advertising and high-risk games such as slots.

The motions were proposed by Socialist party MP Michiel van Nispen and managed to garner just enough support to pass. The House of Representatives also approved motions for mandatory financial risk checks related to gambling and identification requirements. In total, the house voted on 114 motions during several debates held the previous week. Out of these, ten were adopted, including the ban on all online advertising and games of chance with a demonstrably high risk.

Previously, a motion for a total ban on gambling advertising proposed by MP Derk Boswijk, (pictured above), in February 2024 did not receive sufficient votes. However, a similar motion put forward by Michiel van Nispen this week managed to pass with a slim majority of 77 votes. This new ban is understood to prohibit all forms of online advertising, including targeted ads.

This decision follows the Netherlands’ untargeted advertising ban that came into effect on 1 July, 2023. As a result, mass advertising on radio, television, outdoor locations, and written media were prohibited. Sports sponsorships were also included in the ban, with a transitionary period currently in place for existing sponsorship agreements.

Another motion adopted by Van Nispen focused on online gambling with a demonstrably very high risk. The Socialist party believes that a case should be made for banning games of chance, with online slots used as the principal example. This is because players have no control over the outcome of the game. A majority of 79 MPs voted in favor of the motion.

Despite the majority support for such a ban in the House of Representatives, it will be another case to have this enshrined in law. The responsibility now falls on Franc Weerwind, the Minister for Legal Protection in the Netherlands, to review and approve the law.

Weerwind has been a strong advocate for responsible gambling but has never explicitly expressed a desire for stricter measures. In December 2023, he announced new measures to protect players, including requiring providers to contact players who have set a deposit limit of €350. Operators are also mandated to inform such players of the risks of gambling in high amounts.

Weerwind’s other proposals involve exhibiting financial amounts in euros and pushing for further research on overarching gaming limits. In October 2023, he also announced a multi-year digital resilience campaign program to combat fraud associated with online gambling.

Weerwind stated in a letter that everyone who wants to should be able to play a game of chance responsibly. However, he also acknowledged that responsible gaming can turn into problematic gambling and that players must be aware of this and be protected against it. He noted that research shows that providers encourage players to bet more money than they can afford to lose, indicating a need for more robust protective measures in the industry.