Industry News
PAGCOR provide ringing endorsement of ICE London
Strengthening their strategic relationship with the ICE brand, the Philippine Amusement & Gaming Corporation (PAGCOR) has confirmed it will be bringing its largest ever delegation to this year’s ICE London (4-6 February, 2020, ExCeL London, UK) following the association’s recent partnership with SiGMA and the inaugural ICE Asia, which takes place in Manila this June. Speaking ahead of the world’s largest Gaming innovations showcase, the trade association’s CEO Andrea Domingo expanded upon the Philippines’ growing regulatory developments and how PAGCOR is preparing to ‘Step into the Future’…
Why is the strategic partnership with SiGMA and ICE Asia so significant and what will ICE Asia contribute to the industry in the region?
The agreement with ICE Asia is significant because SiGMA and ICE are valuable partners that can help PAGCOR to achieve its goal to be the top Gaming and entertainment destination in Asia. PAGCOR will be recognized more and establish itself as an institution in the Gaming and entertainment industry that promote fair play, player and investor protection and responsible gaming.
What opportunities does ICE London offer PAGCOR?
Considering that there are a lot of offshore gaming participants in ICE London, this will help PAGCOR in the development of its offshore Gaming products, both procedurally and market wise. Since being launched in 2016, PAGCOR is focused on further improvement by issuing legal and reasonable regulations and fees, proper and accurate auditing and creation of new markets; protection of players/bets/investors.
PAGCOR is also learning from the regulations of the other jurisdictions on offshore Gaming and we aim to apply those that are applicable.
The creative theme for ICE London and ICE VOX 2020 is ‘Step into the future’ – what does the future hold for PAGCOR and where do you want the organization to be in 10 years’ time?
With the rapid development of technology in Gaming, PAGCOR wants to be abreast with all the developments in the industry, including offshore Gaming, since this will greatly help in revenue generation for the purposes of government and socio-civic projects.
In this regard, PAGCOR aims to be the top Gaming and entertainment destination in Asia. We are also focused on being one of the top revenue generating government-owned and controlled corporation and contributor to government and socio-civic projects, whilst also being recognised as a respected regulator where the Gaming operations are properly regulated and fair play is ensured and protected.
What are the main objectives for PAGCOR and its members?
The main objectives of PAGCOR and its members in attending and participating in ICE London 2020 are to create and develop new markets, whilst also keeping abreast with the latest trends, machines and technology in Gaming and entertainment; and monitoring/auditing systems available. In addition, we aim to familiarise ourselves with, and learn from, the Gaming regulations of other jurisdictions, as well as to introduce PAGCOR and create awareness on what it does and its goals and achievements. Finally, we will promote the Philippines as a key Gaming, entertainment and tourism destination.
Industry News
CogniPlay Launches New Social Casino Platform
CogniPlay has launched its new software product, which aims to provide a robust online sweepstakes or social gaming platform to its clients. The system is designed to be modular, allowing customers to tailor their brand and offering to what they believe will give them optimal performance.
The CogniPlay system has several key integrations which help to deliver the product, including games integrations with the likes of Pragmatic Play, BetSoft, Mascot Gaming and many more, giving them 100s of games for their clients. There are other integration options for their customers to pick from too, including affiliate programme software, CRM platforms and associated products, KYC, ID verification, Geo-IP systems, Gamification and customer support.
They also have a very long and extensive development pipeline which will see the product offering develop at pace, giving clients an extensive list of options and USPs, and of course giving players a great user experience as a result.
As well as the platform itself the CogniPlay team, due to their considerable experience, also offer a whole host of managed services, with almost a menu that clients can choose from to fill any gaps in their own skillsets or experience.
CogniPlay’s Chief Executive Officer Allan Turner said: “We are very proud to take the CogniPlay product to market and are excited that people who want to start a new social or sweeps brand can get in touch with us to see what we can do for them, or in fact established brands that are unhappy with their existing provider.
“Our underlying principles are that we want to provide the most flexible platform in the space, to enable our clients to create the product they want to have, not for us to dictate the product to them. The two other main areas of focus are that we want to be the most future-proof product on the market with plans for any regulatory or legal changes that may arise in the future, and that we have all the right safeguards in place to ensure that we look after both our clients and players with our responsible gaming setup. This of course means having the right tech and processes in the key areas of KYC, Geo-IP tech, anti-money laundering, fraud, risk assessment and ID verification.”
The post CogniPlay Launches New Social Casino Platform appeared first on European Gaming Industry News.
Hard Rock International
The Mirage Hotel & Casino to Begin Transformation into Hard Rock Las Vegas on July 17, 2024
Hard Rock International (HRI) announced its plans to cease operations of The Mirage Hotel & Casino as of July 17, 2024, to begin the transformation of the property into the highly anticipated Hard Rock Hotel & Casino and Guitar Hotel Las Vegas (HRHCLV).
Hard Rock will develop a new integrated resort featuring a nearly 700 ft. guitar-shaped hotel towering prominently in the center of the famous Las Vegas Strip.
“We’d like to thank the Las Vegas community and team members for warmly welcoming Hard Rock after enjoying 34 years at The Mirage. We’d also like to thank the Unions, community leaders, local and state government organizations and the Gaming Commission for their support and fair negotiations over the past year. Also, we are grateful to MGM for assisting with our transition,” Jim Allen, Chairman of Hard Rock International, said.
“While we pause for the incredible transformation of this iconic property, I’d like to thank all team members at The Mirage for their incredible commitment and helping us provide memorable experiences for our guests. We are planning to host collaborative hiring events with other employers in the Las Vegas community over the coming months. Connecting the thousands of talented Mirage team members who provide outstanding service with new employment opportunities is a top priority,” Joe Lupo, President of The Mirage, said.
HRHCLV is expected to double the current number of jobs at The Mirage for the Las Vegas community, while the renovation of the property will generate over 2500 construction jobs. Hard Rock will pay approximately $80 million in severance packages for eligible union and non-union employees remaining with the property through cessation of operations.
Industry News
IGT Reports First Quarter 2024 Results
International Game Technology PLC has reported financial results for the first quarter ended March 31, 2024.
“Innovative game, hardware, and systems solutions drove better-than-expected Global Lottery and Gaming & Digital performance in the first quarter. As a result, we are upgrading our full-year 2024 revenue and profit goals, which reflect broad-based momentum across key performance indicators in the balance of the year. We continue to make progress on separating Global Lottery from Gaming & Digital and preparing for the proposed transaction with Everi,” Vince Sadusky, CEO of IGT, said.
Key Highlights:
- Announced Gaming & Digital business to be spun off and combined with Everi Holdings Inc.; transaction expected to close in late 2024/early 2025
- Recognised with top honours at ICE London 2024 awards programmes including “Lottery Product of the Year” and “Best Diversity and Inclusion Employer”
- Received a supply contract extension from the UK National Lottery
- Executed licensing agreement with the Maryland Lottery for IGT’s patented Cash Pop draw-based game
- Mystery of the Lamp named “Top Performing New Premium Game” at 2024 EKG Slot Awards Show
- Awarded contract to provide PeakDual 27 video lottery terminals across Quebec
- Launched iGaming content in Rhode Island
- Achieved AAA MSCI ESG rating, the highest rating possible, and earned a gold medal sustainability rating from EcoVadis.
“We delivered a record organic profit performance in the first quarter, if we exclude Separation & divestiture costs. The Company is operating from a position of strength with historically low net debt leverage, ample liquidity, and manageable near-term debt maturities,” Max Chiara, CFO of IGT, said.
The post IGT Reports First Quarter 2024 Results appeared first on European Gaming Industry News.
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